The Isostatic Pressing by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Isostatic Pressing, 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 growth in the historic period can be attributed to growth in the aerospace industry, the increasing manufacturing production, the growing defense budgets and increasing 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 growth in the forecast period can be attributed to the increasing urbanization, the rising electricity demand and the increasing healthcare expenditure and growth in the medical devices industry. Major trends in the forecast period include focus on strategic investments, capacity expansions, technological advancements, new advanced project developments, product innovations, installation of new machines and strategic partnerships and collaborations.
The rapidly growing aerospace and defense industry is significantly contributing to the growth of the isostatic pressing market. The aerospace and defense industry is involved in designing, manufacturing, and developing advanced space systems, aircraft, and defense capabilities. Isostatic pressing is used in the aerospace industry for manufacturing aerospace castings, jet aircraft engine components, and turbine blades. In the defense industry, it is used in the production of bulletproof materials, gun parts, and others. The growing aerospace and defense sector will propel the growth of isostatic pressing. For instance, according to India Brand Equity Foundation, an Indian Government export promotion agency, the aerospace, and defense sector will reach $70 billion by 2030 due to demand for advanced infrastructure. Therefore, the rapidly growing aerospace and defense industry will promote the growth of the isostatic pressing market.
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The isostatic pressing market covered in this report is segmented –
1) By Type: Isostatic Pressing (HIP), Cold Isostatic Pressing (CIP)
2) By Offering: Systems, Services
3) By Process Type: Wet Bag Pressing, Dry Bag Pressing
4) By Capacity: Small Sized, Medium Sized, Large Sized
5) By End-User Industry: Manufacturing, Automotive, Electronics And Semiconductor, Medical, Aerospace And Defense, Energy And Power, Research And Development, Other End-Users
Major companies operating in the isostatic pressing market are putting their efforts into innovating new products and solutions to grow in the market. For example, in April 2023, Quintus Technologies AB, a Sweden-based high-pressure manufacturing technology company, developed the Purus Toolbox for hot isostatic pressing. It is designed to make it feasible to obtain component surfaces free of oxidation after hot isostatic pressing (HIP), obviating the need for labor-intensive, expensive, or dangerous pre- and post-processing. The majority of these problems, according to Quintus Purus, can be avoided or greatly minimized by using the toolbox it has developed, which consists of new HIP equipment hardware and software capabilities and custom oxygen-getter cassettes. This improves component design, lowers manufacturing costs and has a lower environmental impact. Purus enables the production of the ‘HIP process’ without the need to hand wrap each component in metal foil or eliminate oxidized surfaces through post-processing machining or chemical etching. As a result, there is a decrease in the requirement for dangerous chemicals, manufacturing costs and energy consumption.
The isostatic pressing market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Kobe Steel Ltd.
- Aalberts N.V
- Nikkiso Co. Ltd.
- Bodycote PLC
- Hoganas AB
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