Isostatic Pressing Market by Offering ( System, Services), Type (Hot and Cold), HIP Capacity (Small, Medium, & Large), CIP Process (Wet & Dry), Industry (Automotive, Aerospace, Medical, Manufacturing) and Geography - Global Forecast to 2028
[239 Pages Report] The global Isostatic pressing market is expected to grow from USD 8.1 billion in 2023 to USD 11.7 billion by 2028, registering a CAGR of 7.6%. The isostatic pressing industry is witnessing significant growth driven by several factors, including an increasing need for intricate components, advancements in material science, emphasis on precision and quality, go for efficiency and cost-effectiveness, expanding industrial applications, technological progress, and the requirement to meet rigorous quality and performance standards. Collectively, these factors are driving the growth of isostatic pressing as it continues to meet the evolving demands of various industries.
Isostatic Pressing Market Forecast to 2028
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Market Dynamics
Driver: Growing Emphasis on the Combination of Hot Isostatic Pressing (HIP) With Other Heat Treatment Processes
The HIP and heat treatment processes in a conventional practice are carried out at different facilities, where the parts have to be loaded and unloaded into process vessels twice and shipped from one facility to another, which consumes time. Thus, combining HIP and other heat treatment processes in a single and integrated unit can help reduce energy consumption and meet the components' delivery time. The constant improvements in HIP equipment from the 1970s have led to advanced processing options, such as rapid cooling capability and automatic processing. For instance, processes such as HIP, additive manufacturing, and spark plasma sintering can be used as a single unit to create high-integrity, near-net-shaped parts from metal powder while reducing processing costs and energy consumption.
Some of such combined techniques are used in the aerospace industry. However, their implementation has yet to be commercialized for civil nuclear applications. The Nuclear Advanced Manufacturing Research Centre (AMRC) (UK) is planning to invest in industry-led projects to assess the potential of these processes in the civil nuclear sector. The organization has designed a strategy to commercialize such promising techniques for production processes.
Restraint:Requirement of high initial investments
The market for isostatic pressing necessitates a significant initial investment due to the need for advanced machinery, specialized technologies, and high-pressure vessels. Establishing an isostatic pressing facility involves substantial costs associated with acquiring equipment, implementing safety measures, and ensuring proper training and maintenance. This initial investment acts as a barrier to entry for new entrants and contributes to a competitive landscape dominated by established companies. However, despite the high initial costs, the potential for long-term benefits, such as market growth and the ability to meet the increasing demand for high-quality components, justifies the investment in isostatic pressing.
Opportunity: Growing demand for low-cost titanium and its alloys in the automotive industry.
Titanium and its alloys are light in weight, corrosive resistant, and feature high strength, which makes them ideal for use in various automobile applications. The increasing focus on the light weighing of automobiles has encouraged manufacturers and designers to use titanium tubes and titanium-welded tubes. However, the cost of titanium is the main drawback associated with using this metal. Therefore, the manufacturers are looking forward to developing new innovative ways to produce low-cost titanium for different automobile applications. Hence, the HIP processes decrease the manufacturing cost of titanium alloys and other PM superalloys by ensuring lower manufacturing time and cost than conventional processes. This cost-related benefit is expected to fuel adopting HIP systems in titanium alloy manufacturing for the automotive industry and soon create lucrative opportunities for market players.
Challenge: Limited size and shape capabilities of Isostatic Pressing
Isostatic pressing is typically best suited for small to medium-sized parts. More significant parts can be difficult to manufacture using this process because it requires large equipment, which can be expensive to purchase and maintain. Isostatic pressing is best suited for parts with simple geometries. More complex shapes can be difficult to manufacture using this process. This is because the powder must be evenly distributed in the mold, which can be challenging to achieve with complex shapes. The tooling cost required for isostatic pressing can be significant, particularly for parts with complex shapes. This can make the process less cost-effective for parts with irregular shapes. The thickness of the part can also be a limiting factor for isostatic pressing. Parts that are too thick can be difficult to manufacture using this process because the powder may not be able to be evenly distributed in the mold.
Isostatic pressing Market Ecosystem
Component suppliers and system integrators have witnessed a decline in production activities. Consequently, OEMs have needed more essential components. The figure below shows the Isostatic pressing ecosystem.
Services segment to hold largest market share in the year.
Currently, the services market of isostatic pressing is gaining traction, with the increasing applications of isostatic pressing systems in the automotive, manufacturing, energy & power, and medical industries. To improve the quality and reliability of components and configurations, isostatic pressing systems are regularly inspected to detect discontinuities, defects, or any other faults, which might reduce operational reliability and lead to failures.
Hot isostatic pressing segment to hold largest market share in the year 2022.
The hot isostatic pressing (HIP) market is experiencing substantial growth, driven by various factors. Industries such as aerospace, automotive, medical, energy, and manufacturing increasingly demand reliable, high-performance components. As a response, there is a notable adoption of HIP technology, which provides advanced manufacturing solutions to enhance material properties and component performance. Moreover, advancements in materials, alloys, and improvements in HIP equipment technology further facilitate market expansion. The industry's focus on cost efficiency, waste reduction, and sustainable manufacturing practices supports the market’s growth.
Medical industry is expected to register highest CAGR during the forecast period.
The players in the medical industry are continuously adopting new technologies, such as additive manufacturing or 3D printing, in a wide range of applications. CIP consolidates the 3D-printed parts; apart from this, its applications mainly include the consolidation of ceramic powders and other fine or advanced grades of ceramics used in the dental and medical sectors. The growth of the CIP market for the medical industry is attributed to the need for complex shapes with uniform and high-density parts for developing artificial bone, artificial tooth material, and resin powder.
Isostatic Pressing Market by Region
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Asia Pacific to grow at highest CAGR during the forecast period.
The robust growth of the isostatic pressing market in the Asia-Pacific region can be attributed to several key factors. These include the rapid pace of industrialization, new markets, technological advancements, the expanding automotive and aerospace sectors, the growth of electronics manufacturing, supportive government policies, and the increasing emphasis on energy and environmental technologies. Moreover, the increase in demand for low-cost and reliable metal and ceramic products for various applications and rising preference for custom implants (in medical applications) due to better and more efficient recovery are expected to propel the demand for isostatic pressing in the region. The major markets in APAC are Japan and China. India has high growth potential for isostatic pressing products and service providers and is also the fastest-growing market in APAC. The leading players in the isostatic pressing market in APAC are Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), and Nikkiso., Ltd. (Japan)
Key Market Players
The Isostatic pressing companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market are Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), Nikkiso., Ltd. (Japan), DORST Technologies GmbH & Co. KG (Germany), American Isostatic Presses, Inc (US), EPSI (US), Pressure Technology, Inc. (US), Shanxi Golden Kaiyuan Co., Ltd. (China)
The study includes an in-depth competitive analysis of these key players in the Isostatic pressing market with their company profiles, recent developments, and key market strategies.
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- Latest News, Updates & Trend analysis
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Report Metric |
Details |
| Estimated Market Size | USD 8.1 billion in 2023 |
| Projected Market Size | USD 11.7 billion by 2028 |
| Growth Rate | CAGR of 7.6% |
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Years Considered |
2019–2028 |
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Base Year Considered |
2022 |
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Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
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Segments Covered |
Offerings, Types, Process types, Capacity, Industry, and Region |
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Regions Covered |
North America, Asia Pacific, Europe, and the Rest of the World |
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Companies Covered |
Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), Nikkiso., Ltd. (Japan), DORST Technologies GmbH & Co. KG (Germany), American Isostatic Presses, Inc (US), EPSI (US), Pressure Technology, Inc. (US), Shanxi Golden Kaiyuan Co., Ltd. (China) A total of 25 players covered |
Isostatic Pressing Market Highlights
This report has segmented the overall Isostatic pressing market based on Offerings, components, industry, and region.
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Segment |
Subsegment |
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By Offerings |
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By Type |
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By Process Type |
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By Capacity |
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By Industry |
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By Region |
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Recent Developments:
- In July 2022, Bodycote, the world’s largest thermal processing services provider, is expanding its Hot Isostatic Pressing (HIP) capability in Greenville, South Carolina, USA. The new HIP capacity will be online by the end of 2022, focusing on developments in additive manufacturing and advanced materials.
- In February 2021, Bodycote expanded its facility in Syracuse, North America. It offers a wide range of heat treatment processes. These include vacuum heat treating, atmospheric carburizing, low-pressure carburizing, carbonitriding, ferritic nitrocarburizing, nitriding, and aluminum heat treating.
Frequently Asked Questions (FAQ):
What will be the Isostatic pressing market size in 2023?
The Isostatic pressing market will be valued at USD 8.1 billion in 2023.
What CAGR will be recorded for the Isostatic pressing market from 2023 to 2028?
The global Isostatic pressing market is expected to record a CAGR of 7.6% from 2023–2028.
Who are the top players in the Isostatic pressing market?
The significant vendors operating in the Isostatic pressing market include Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), Nikkiso., Ltd. (Japan)
Which major countries are considered in the North American region?
The report includes an analysis of the US, Canada, Mexico, and the rest of North America.
Which types have been considered under the Isostatic pressing market?
Hot isostatic pressing and Cold isostatic pressing are considered in the market study.
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The study involves four major activities for estimating the size of the Isostatic pressing market. Exhaustive secondary research has been conducted to collect information related to the market. The next step is to validate these findings and assumptions related to the market size with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the Isostatic pressing market. After that, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.
Secondary Research
Secondary sources for this research study included corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; certified publications; articles by recognized authors; directories; and databases. The secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.
Primary Research
Extensive primary research has been conducted after gaining knowledge about the current scenario of the Isostatic pressing market through secondary research. Several primary interviews have been conducted with experts from the demand and supply sides across four major regions—Americas, Europe, Asia Pacific, and RoW. This primary data has been collected through questionnaires, emails, and telephonic interviews.
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Market Size Estimation
In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been implemented to estimate and validate the size of the Isostatic pressing market and other dependent submarkets listed in this report.
- The key players in the industry and markets have been identified through extensive secondary research.
- The supply chain of the industry and the market size, in terms of value, have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Isostatic Pressing Market: Top-Down Approach
- In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits obtained from secondary and primary research.
- For calculating the Isostatic pressing market segments, the market size obtained by implementing the bottom-up approach has been used to implement the top-down approach, which was later confirmed with the primary respondents across different regions.
- The bottom-up approach has also been implemented for the data extracted from secondary research to validate the market size of various segments.
- Each company's market share has been estimated to verify the revenue shares used earlier in the bottom-up approach. With the help of data triangulation and validation of data through primaries, the size of the overall Isostatic pressing and each market have been determined and confirmed in this study.
Data Triangulation
After arriving at the overall market size, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed wherever applicable to complete the overall market engineering process and arrive at exact statistics for all segments. The data was then triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Market Definition
Isostatic pressing is a powder metallurgy-based process in which equal pressure is applied on powdered materials, such as metals, alloys, or ceramics, in all directions to achieve maximum uniformity of density and microstructure without the geometric limitations of uniaxial pressing. Isostatic pressing is categorized into two types: hot isostatic pressing (HIP) and cold isostatic pressing (CIP). The HIP system processes materials using the synergistic effects of temperature and pressure. The HIP is part of the powder metrology process for pressure-assisted brazing and fabrication of metal composites. Manufacturing companies are extensively installing HIP systems to enhance their working efficiency. Cold isostatic pressing (CIP) is a powder-forming technology with uniform pressure to compress powdered materials into various shapes, mainly at room temperature. The CIP system is widely used in ceramic and powder metallurgy as an effective forming method. In the CIP system, a mold is placed into a chamber filled with a working fluid, usually water, with a corrosion inhibitor that is pressurized using an external pump.
The isostatic pressing market is consolidated, with a few players holding a major market share. The companies in the isostatic pressing ecosystem are highly focused on strengthening their positions and increasing their market shares. Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), Nikkiso., Ltd. (Japan), DORST Technologies GmbH & Co. KG (Germany), American Isostatic Presses, Inc (US), EPSI (US), Pressure Technology, Inc. (US), Shanxi Golden Kaiyuan Co., Ltd. (China) are among a few key companies in this market.
Key Stakeholders
- Original equipment manufacturers (OEMs)
- Providers of technology solutions
- Research institutes
- Market research and consulting firms
- Forums, alliances, and associations related to Isostatic pressing
- Technology investors
- Governments and financial institutions
- Analysts and strategic business planners
- Existing end users and prospective ones
Report Objectives:
- To describe and forecast the Isostatic pressing market in terms of value based on offerings, type, process types, capacity, and industry.
- To describe and forecast the Isostatic pressing market size in terms of value for 4 main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the isostatic pressing market
- To provide a detailed overview of the supply chain of the s ecosystem
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
- To analyze the probable impact of the recession on the market in future
- To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio.
- To analyze competitive developments such as acquisitions, product launches, partnerships, expansions, and collaborations undertaken in the Isostatic pressing market
Available Customization
With the given market data, MarketsandMarkets offers customizations according to the company's specific needs. The following customization options are available for this report:
Company Information:
- Detailed analysis and profiling of additional five market players
Generating Response ...
Growth opportunities and latent adjacency in Isostatic Pressing Market
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