Global Isostatic Pressing Market

Isostatic Pressing Market Size, Share, Growth Analysis, By Material (Metal, Ceramic), By Offering (Systems, Services), By Type (Hot Isostatic Pressing (HIP), Cold Isostatic Pressing (CIP)), By Capacity, By Process Type, By End User, By Region -Industry Forecast 2024-2031.

Report ID: SQMIG20A2266 | Region: Global | Published Date: October, 2024
Pages: 156 | Tables: 140 | Figures: 73

Isostatic Pressing Market Insights

Global Isostatic Pressing Market size was valued at USD 6.40 billion in 2022 and is poised to grow from USD 6.75 billion in  2023 to USD 10.36 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031). 

Isostatic pressing market is witnessing substantial growth fueled by the mounting demand for advanced materials, especially in automotive, aerospace, medical sectors, and electronics. The growing need for high-strength and lightweight components in these industries propels the isostatic pressing market growth. The market is also impacted by growing technological advancements in pressing technologies like integration with additive manufacturing, developments in equipment, the creation of intricate geometrics, and improved production efficacy. Nonetheless, a few restraints affecting the growth of the market include significantly priced isostatic pressing equipment, impeding small manufacturers from adoption and low awareness and knowledge about the advantages of isostatic pressing techniques. The opportunities impacting the growth of the market comprise rising integration with additive manufacturing, introduction of advanced materials, and growing customizations.

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Global Isostatic Pressing Market size was valued at USD 6.40 billion in 2022 and is poised to grow from USD 6.75 billion in  2023 to USD 10.36 billion by 2031, growing at a CAGR of 5.50% during the forecast period (2024-2031). 

The global isostatic pressing market’s competitive landscape is differentiated by several key factors, including increasing collaborations among research institutions and manufacturers, and suppliers. The prominent market players like Carpenter Technology Corporation, GKN Powder Metallurgy, and ExOne are dominating the market with extensive product offerings and advanced technologies. Other progressing companies operating in the market are emphasizing research and development to improve isostatic pressing techniques, integrate with additive manufacturing techniques, and enhance material properties. The market players are also seen to focus on eco-friendly practices, thus impacting market strategies and product development. 'Kobe Steel, Ltd.  ', 'Bodycote  ', 'Kennametal Inc.  ', 'Nikkiso Co., Ltd.  ', 'Dorst Technologies GMBH & Co. Kg  ', 'American Isostatic Presses, Inc.  ', 'Pressure Technology, Inc.  ', 'Shanxi Golden Kaiyuan Co., Ltd.  '

The major industries like automotive, aerospace, medical devices, and electronics are witnessing significant growth. The rising production of high-strength and lightweight components for these industries is driving the demand for isostatic pressing. For example, the aerospace sector is highly emphasized on decreasing weight or components and maintaining optimal integrity, thus increasing the prominence and preference of isostatic pressing.

Developments in Material Science: The advancements of novel materials like advanced ceramics and high-performing alloys are notably fueling the transformation of isostatic pressing. Research groups are actively exploring materials that improve strength, thermal stability, and resistance to corrosion and wear. These developments enable more effective and smooth manufacturing processes and allow the production of complex parts for automotive, medical, and aerospace applications.

Region-wise, North America dominated the market in the previous years and is expected to lead over the forecast period owing to strong demand from major industries, technology leadership, and the availability of developed manufacturing infrastructure. North America is home to several major industries that demand precision manufacturing and quality high-performing materials. The need for durable, strong, and lightweight components is also fueling the adoption of isostatic pressing technologies. Furthermore, the region is prominent for its leadership in developments and fast adoption of improved technologies like industry 4.0 and automation. companies are actively integrating these technologies with smart solutions for enhanced production capacity and efficiency. Regional growth is also impacted by well-established infrastructure for manufacturing. The key players profiled in the region include GKN Powder Metallurgy, Parker Hannifin Corporation, ExOne Company, H.C. Starck Solutions, Advanced Powder Products, LLC, and more.

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Global Isostatic Pressing Market

Report ID: SQMIG20A2266

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