Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 7.54 Billion | USD 13.33 Billion | 6.5% | 2023 |
The global isostatic pressing market size was evaluated at $7.54 billion in 2023 and is slated to hit $13.33 billion by the end of 2032 with a CAGR of nearly 6.5% between 2024 and 2032.
The terminology isostatic pressing is referred to as the powder metallurgy method utilized for enhancing the metal porosity. Reportedly, isostatic pressing consists of cold as well as hot isostatic pressing as it involves evenly applying pressurized gas, water, or oil to powder compact for achieving a consistent density & microstructure without any geometrical restrictions. Apart from this, isostatic pressing systems make use of fluid or gas pressure for consistently pressurizing materials in all directions to acquire optimum uniformity in density. For the record, the isostatic pressing can be performed at low as well as high temperatures.
Consistently adding new features in materials to improve product performance can boost global market trends
Constant innovations in material and new formulations can improve the performance of end products, thereby steering the expansion of the global isostatic pressing market. Rapidly expanding aerospace & defense sectors are anticipated to prop up the global market expansion. Apparently, a surge in the demand for products with shorter production cycles in the healthcare sector will translate into massive progression of the market across the globe.
In addition to this, humungous demand for 3D printing systems in the automotive sector due to the need for inexpensive spare components production methods will steer the global market trends. A surge in demand for HIP along with the growing need for various kinds of heat treatment methods is projected to spearhead the growth of the global market.
A rise in the initial prices of hot isostatic pressing can inhibit the expansion of the global industry by 2032
A prominent surge in the initial costs of hot isostatic pressing can put brakes on the global isostatic pressing industry.
Humungous use of low-priced titanium in vehicles to create new growth avenues for the global market
Escalating demand for low-cost titanium & alloys in the automobile sector will open a slew of avenues for the global isostatic pressing market. Reportedly, titanium is lightweight, rust-resistant, and possesses huge strength.
Limited size and shaping abilities of isostatic pressing can challenge the global industry surge over forecast period
Restricted size and shape abilities of isostatic pressing are projected to create a huge impediment to the growth of the global isostatic pressing industry.
The global isostatic pressing market is divided into offering, type, HIP capacity, CIP process, end-use, and region.
In offering terms, the isostatic pressing market across the globe is segregated into system and services segments. Furthermore, the services segment, which acquired nearly two-fifths of the global market earnings in 2023, is expected to record the fastest yearly rate of growth in the forecast timespan. The expansion of the segment in the next couple of years can be as a result of isostatic pressing, thereby ensuring a precise and uniform granular material compaction.
On the basis of type, the global isostatic pressing industry is segmented into hot and cold segments. Additionally, the hot segment, which amassed a key share of the global industry in 2023, is predicted to lead the segment sphere in the coming eight years. The segmental surge from 2024 to 2032 can be due to humungous demand for complex parts across a slew of end-use sectors such as automotive and aerospace sectors.
Based on the HIP capacity, the global isostatic pressing market is sectored into small & medium and large segments. However, the small & medium segment, which garnered about 55% of the global market share in 2023, is anticipated to make notable contributions towards the global market size over the predicted timespan. The growth of the segment in the next few years can be credited to small & medium-sized HIPs having capacities ranging from a few liters to a dozen liters.
Based on the end-use, the global isostatic pressing industry is bifurcated into automotive, manufacturing, medical, and aerospace segments. Moreover, the medical segment, which accumulated about 57% of the global industry share in 2023, is projected to make lucrative contributions towards the global industry revenue over the expected timeline. The growth of the segment in the forthcoming years can be credited to escalating requirement for fabrication of durable, bio-compatible, and precise parts owing to their use in prosthetics, medical devices, and implants.
On the basis of CIP process, the isostatic pressing market globally is divided into wet and dry segments.
Report Attributes | Report Details |
---|---|
Report Name | Isostatic Pressing Market |
Market Size in 2023 | USD 7.54 billion |
Market Forecast in 2032 | USD 13.33 billion |
Growth Rate | CAGR of 6.5% |
Number of Pages | 218 |
Key Companies Covered | DORST Technologies GmbH & Co. KG, Shanxi Golden Kaiyuan Co. Ltd., EPSI, KOBE STEEL LTD., PTC Industries, Bodycote, Isostatic Pressing Services, Kittyhawk, MTI Corporation, Fluitron, Nikkiso Co. Ltd., Pressure Technology Inc., Kennametal Inc., American Isostatic Presses Inc., Sandvik AB, Höganäs AB., and others. |
Segments Covered | By Offering, By Type, By CIP Process, By End-Use, By HIP Capacity, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America is predicted to maintain the numero uno position in the global isostatic pressing market in the upcoming years
North America, which accounted for nearly two-thirds of the global isostatic pressing market earnings in 2023, is expected to establish numero uno position in the global market in the years to come. Moreover, the regional market expansion in the next couple of years can be due to rising investment by governments for adding new features to vehicles. Apart from this, key manufacturers are allocating huge amounts of funds for producing titanium components of automotive.
Asia-Pacific isostatic pressing industry is anticipated to register the fastest CAGR in the forecast timeline. The progression of the industry in the sub-continent can be ascribed to thriving medical tourism activities in the countries such as India, Thailand, and Indonesia. In addition to this, a surge in the need for medical products & services in the sub-continent is anticipated to spearhead the expansion of the industry across the globe. An increase in the product demand in the APAC zone can be further attributed to the production of medical implants, precision parts, and dental restorations.
The global isostatic pressing market profiles key players such:
By Offering
By Type
By CIP Process
By End-Use
By HIP Capacity
FrequentlyAsked Questions
The terminology isostatic pressing is referred to as powder metallurgy method utilized for enhancing the metal porosity.
The global isostatic pressing market growth over forecast period can be owing to a surge in the demand for products with shorter production cycles in the healthcare sector.
According to a study, the global isostatic pressing industry size was $7.54 billion in 2023 and is projected to reach $13.33 billion by the end of 2032.
The global isostatic pressing market is anticipated to record a CAGR of nearly 6.5% from 2024 to 2032.
The Asia-Pacific isostatic pressing industry is set to register the fastest CAGR over the forecasting timeline owing to thriving medical tourism activities in the countries such as India, Thailand, and Indonesia. In addition to this, a surge in the need of medical products & services in the sub-continent is anticipated to spearhead the expansion of the industry across the globe. An increase in the product demand in the APAC zone can be further attributed to production of medical implants, precision parts, and dental restorations.
The global isostatic pressing market is led by players such as DORST Technologies GmbH & Co. KG, Shanxi Golden Kaiyuan Co., Ltd., EPSI, KOBE STEEL, LTD., PTC Industries, Bodycote, Isostatic Pressing Services, Kittyhawk, MTI Corporation, Fluitron, Nikkiso Co., Ltd., Pressure Technology, Inc., Kennametal Inc., American Isostatic Presses Inc., Sandvik AB, and Höganäs AB.
The global isostatic pressing market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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