It is expected that the compound annual growth rate of the global revenue casting market during 2019-2025 will exceed 3%.
By 2025, the global investment casting market is expected to reach nearly US$18 billion in revenue. Due to the COVID-19 pandemic, the industry is currently under high pressure. The slowdown in demand from most end users has severely affected the industry. The fiscal stimulus package has not yet had a positive impact on the market, and it is only expected to have a certain impact at the end of 2020. The growth rate has been hovering between 5% and 6%, and has now dropped significantly after COVID-19. A large part of the demand from the automotive and aerospace industries has fallen sharply in several countries, which is affecting the market.
Growth in automotive, aerospace and defense, and power generation are estimated to be the most affected. As of 2020, in terms of demand, due to fierce competition, the price of castings is not allowed to fluctuate sharply, but the demand is declining. Globally, the acceptance of newer, more efficient materials is growing. It is expected that by the second half of 2021, industrial production in many end-user sectors will reach pre-pandemic levels.
During the forecast period, the following factors may contribute to the growth of the investment casting market:
The study considered the current status of the global investment casting market and its market dynamics from 2019 to 2025. It provides a detailed overview of several market growth drivers, constraints and trends. The report provides the demand and supply aspects of the market. It outlines and examines leading companies and other famous companies in the market.
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com EST office hours call 1-917-300-0470 US/Canada toll free 1-800-526-8630 GMT office hours call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com EST office hours call 1-917-300-0470 US/Canada toll free 1-800-526-8630 GMT office hours call +353-1-416-8900
Post time: 2020/8/27 13:39:14 Hits：155