PUBLISHER: The Business Research Company | PRODUCT CODE: 1429845
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429845
Isostatic pressing is a powder metallurgy (PM) procedure that uniformly presses a powder compact in all directions, providing maximum uniformity of density and microstructure without the geometric constraints of uniaxial pressing.
The main types in isostatic pressing include Hot Isostatic Pressing (HIP) and Cold Isostatic Pressing (CIP). Hot isostatic pressing involves compressing materials under high temperatures and pressure, enhancing the mechanical properties of castings by eliminating internal microporosity. Isostatic pressing is offered in the form of systems and services, encompassing process types such as wet bag pressing and dry bag pressing. The capacities range from small-sized to medium-sized and large-sized. These processes find applications in various end-user industries such as manufacturing, automotive, electronics and semiconductor, medical, aerospace and defense, energy and power, research and development, and others.
The isostatic pressing market research report is one of a series of new reports from The Business Research Company that provides isostatic pressing market statistics, including isostatic pressing industry global market size, regional shares, competitors with an isostatic pressing market share, detailed isostatic pressing market segments, market trends and opportunities, and any further data you may need to thrive in the isostatic pressing industry. This isostatic pressing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The isostatic pressing market size has grown strongly in recent years. It will grow from $7.3 billion in 2023 to $7.85 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The expansion observed in the historical period can be attributed to the growth in the aerospace industry, increasing manufacturing production, growing defense budgets, and the rise in automotive production.
The isostatic pressing market size is expected to see strong growth in the next few years. It will grow to $10.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to increasing urbanization, rising electricity demand, growing healthcare expenditure, and growth in the medical devices industry. Key trends expected in this period include a focus on strategic investments, capacity expansions, technological advancements, new advanced project developments, product innovations, installation of new machines, and strategic partnerships and collaborations.
The isostatic pressing market is experiencing significant growth, primarily driven by the rapid expansion of the aerospace and defense industry. This industry engages in the design, manufacturing, and development of advanced space systems, aircraft, and defense capabilities. Isostatic pressing plays a crucial role in this sector, being utilized for the production of aerospace castings, jet aircraft engine components, and turbine blades. Additionally, it finds application in the defense industry for manufacturing bulletproof materials and gun parts. The soaring growth of the aerospace and defense sector, projected to reach $70 billion by 2030, according to the India Brand Equity Foundation, will strongly contribute to the expansion of the isostatic pressing market.
The isostatic pressing market is expected to receive a boost from the increasing global demand for electricity. Hot isostatic pressing is employed in the power-generating sector to enhance the density of turbine blades, discs, and other components, thereby eliminating porosity and improving overall performance. Exxon Mobil Corporation reports a projected annual increase of 1.8% in global electricity demand by 2050. This rising demand for electricity is poised to be a key driver for the growth of the isostatic pressing market.
Major players in the isostatic pressing market are actively involved in innovation to introduce new products and solutions. An example is Quintus Technologies AB, a Sweden-based high-pressure manufacturing technology company, which developed the Purus Toolbox for hot isostatic pressing. This innovative solution facilitates the achievement of component surfaces free of oxidation after the hot isostatic pressing process, eliminating the need for labor-intensive, expensive, or hazardous pre- and post-processing. Quintus Purus aims to improve component design, reduce manufacturing costs, and minimize environmental impact, ultimately enhancing the efficiency of the HIP process.
Strategic investments in new systems and technologies are also a key focus for companies in the isostatic pressing market. For instance, HT-MX Tratamientos Secundarios, a Mexico-based heat treatment company, entered the hot isostatic pressing (HIP) market by investing in a QIH 48 M URC press manufactured by Quintus Technologies AB. This investment made HT-MX the first company in Mexico to acquire a HIP system. The QIH 48 M URC press features a unique uniform rapid cooling feature, combining heat treatment and HIP into a single step.
In January 2023, strategic partnerships and investments are shaping the landscape of the isostatic pressing market. Trive Capital, a US-based private equity firm, announced a partnership and investment in Kittyhawk, Inc. This collaboration aims to capitalize on growth opportunities in the aerospace supply chain, positioning Kittyhawk, Inc. as a differentiated service provider offering material processing and hot isostatic pressing (HIP) services for diverse applications, including space, defense, commercial aerospace, and medical sectors.
Major companies operating in the isostatic pressing market report are Kobe Steel Ltd., Aalberts N.V, Nikkiso Co. Ltd., Bodycote PLC, Hoganas AB, Pressure Technology Inc., Hiperbaric, FREY & Co. GmbH, Dorst Technologies GmbH & Co. KG, MTI Corporation, Shanxi Golden Kaiyuan Co. Ltd., Shenyang Kejing Auto-instrument Co. Ltd., PTC Industries, Vima Engineers, Madhuchitt Industries, Xiamen Tmax Battery Equipments Limited, OC Oerlikon Management AG, CREMER Thermoprozessanlagen GmbH, Loomis Products Company, Isoform NV, Morgan Advanced Materials PLC, JSC Polema, Altha Powder Metallurgy Sp. z o.o, Z?omex S.A, Kennametal Inc., American Isostatic Presses Inc., Stack Metallurgical Group, Burloak Technologie, Magnesita Refratarios S.A.
North America was the largest region in the isostatic pressing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the isostatic pressing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the isostatic pressing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The isostatic pressing market includes revenues earned by entities by providing casting densification services, hot isostatic pressing, and uniaxial presses. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Isostatic Pressing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on isostatic pressing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for isostatic pressing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The isostatic pressing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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