PUBLISHER: The Insight Partners | PRODUCT CODE: 1424123
PUBLISHER: The Insight Partners | PRODUCT CODE: 1424123
The isostatic pressing market size was valued at US$ 6.89 billion in 2022 and is expected to reach US$ 12.27 billion by 2030. The isostatic pressing market is estimated to record a CAGR of 7.5% from 2022 to 2030.
The North America isostatic pressing market is segmented into the US, Canada, and Mexico. The North America aviation industry would continue to generate relatively higher profits from the US because of the presence of many aircraft OEMs in the US. The country is the world's largest aircraft manufacturer. With the launch and purchase of new aircraft, several contracts and agreements are routinely signed among aircraft providers, airlines, and defense agencies. These factors are fueling the demand for aircrafts in North America significantly. According to the General Aviation Manufacturer's Association (GAMA), in 2020, 1,312 Piston Aircraft were delivered in the US; this number increased to 1,409 in 2021. Similarly, ~443 Turboprop Aircraft were delivered in 2020, and the number reached 527 in 2021. Also, 674 helicopters were delivered in 2020 which raised to 860 in 2021. Isostatic pressing is extensively used in the aerospace industry. Hot Isostatic Pressing (HIP) is used to remove porosity from a large range of nickel-based superalloy and titanium precision castings for structural components and aircraft engines. Aerospace materials that typically can be densified using HIP, such as aluminum alloy castings, metal matrix composites (MMCs), cobalt-chromium alloy castings, stainless steel castings, alloy steel castings, nickel and cobalt-based superalloy castings, and titanium alloy castings. Therefore, with the growing aerospace industry, the demand for isostatic pressing is increasing, thereby contributing to the isostatic pressing market growth.
Based on offering, the isostatic pressing market is segmented into systems and services. The systems segment held the largest share in the isostatic pressing market in 2022. The systems segment of the isostatic pressing market includes equipment and machinery utilized for conducting isostatic pressing procedures. Isostatic pressing systems are specifically designed to apply uniform pressure from all directions to powder materials or components, playing a pivotal role in achieving the desired compaction and consolidation of materials. Isostatic pressing machines are the primary systems employed in the isostatic pressing process. These machines are responsible for generating and regulating the necessary pressure for the pressing operation. Typically, these machines consist of a pressure vessel or chamber, a fluid medium (such as water or oil), and mechanisms for uniformly applying pressure to the material. The systems segment holds a prominent position within the isostatic pressing market, as it encompasses the fundamental equipment and technology essential for the process. Isostatic pressing systems are available in various types, including hot isostatic pressing (HIP) and cold isostatic pressing (CIP).
The services segment of the isostatic pressing market encompasses a range of services provided by companies involved in isostatic pressing. These companies not only offer the necessary equipment and systems for isostatic pressing but also provide other services to meet the various needs of their customers. Isostatic pressing companies offer consulting services to assist customers in determining the most suitable isostatic pressing techniques and processes for their specific applications. Companies provide specialized expertise and guidance throughout the process, from material selection to post-processing. Companies provide customization services to tailor the isostatic pressing process as per specific customer requirements. This involves designing and manufacturing specialized molds or fixtures to achieve desired shapes and dimensions. Isostatic pressing companies have dedicated laboratories or facilities for material testing and analysis. They conduct various tests to evaluate the properties and characteristics of materials before and after the isostatic pressing process. This ensures the quality and performance of the final products. Companies offer quality assurance services to ensure that the isostatic pressing process meets the required standards and specifications. This includes conducting inspections, performing non-destructive testing, and implementing quality control measures throughout the production cycle. Isostatic pressing companies provide post-processing services to enhance the properties and surface finish of the pressed components further. This can involve heat treatment, machining, surface coating, and other finishing processes.
American Isostatic Presses Inc., Bodycote Plc, EPSI Inc., Fluitron Inc., Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, Nikkiso Co Ltd, Pressure Technology Inc., and Shanxi Golden Kaiyuan Co Ltd are among the key isostatic pressing market players that are profiled in this market study.
The overall isostatic pressing market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the isostatic pressing market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the isostatic pressing market.