Isostatic Pressing Market

Market Leadership - Isostatic Pressing Market

The isostatic pressing market is expected to reach USD 9.22 billion by 2023 from USD 6.25 billion by 2018, at a CAGR of 8.08%. This market has been segmented on the basis of offering and type. Based on type, the market has been segmented into hot isostatic pressing and cold isostatic pressing. The market for hot isostatic pressing has been segmented on the basis of capacity, application, and geography. On the other hand, the market for cold isostatic pressing has been segmented on the basis of basis of process type, application, and geography.

The isostatic pressing market is dominated by established players. Partnerships, collaborations, acquisitions, and agreements are some of the major strategies adopted by market players to grow in the isostatic pressing market as well as to expand their global presence and increase their market share.

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Kobe Steel has strong and diversified product offerings and services related to isostatic pressing, and the company adopts partnerships and acquisitions as the major growth strategies for their business expansions. By acquiring Quintus, Kobe Steel has already broadened its lineup of isostatic pressing products and has entered new growth markets. Furthermore, this partnership is expected to benefit Kobe Steel with the synergy of manufacturing efficiencies and cost reductions through the joint procurement of isostatic pressing products. Quintus Technologies has established a strong presence in Europe, the US, and China, especially in their respective aerospace sectors, which is anticipated to expand substantially in the near future. In April 2017, the company acquired Quintus Technologies AB (Sweden), which is one of the leading providers of isostatic presses. Its presses are widely used in the manufacturing of high-performance products, such as aircraft parts, power generation turbine blades, and semiconductor materials. It has strong presence in Europe and the US, primarily in their respective aerospace sectors. The acquisition strengthens the lineup of isostatic presses for Kobe Steel as a stable profit base for the Industrial Machinery Division.

Bodycote operates one of the largest HIP equipment networks in the world, and it continues to invest in the high-demand segments for the HIP technology. Having the HIP expertise gained over several decades, Bodycote has provided ~50 HIP vessels of varying sizes in multiple locations. With a strong focus on business expansion, Bodycote has been investing heavily in developing countries such as China, Mexico, Poland, and Turkey. These expansions would help it grow rapidly in the near future. Moreover, the company is planning to build a number of new facilities to expand its business further in countries such as Germany, the US, France, and the UK. Apart from the special focus on the aerospace industry, the company serves its clients around the world, including players in the medical, power generation, marine, nuclear, automotive, and electronics industries, through both HIP services and Powdermet technologies. In April 2018, the company signed a 15-year contract with Rolls-Royce (UK), specifically for its civil aerospace business. Under this contract, the company would offer thermal processing services, which include specialized vacuum heat treatment and HIP, as well as support the turbine blade casting facilities of Rolls-Royce in Derby and Rotherham, UK.

Related Reports:

Isostatic Pressing Market by Offering (Systems and Services), Type, HIP Capacity, CIP Process Type, Application (Automotive, Aerospace & Defense, Medical, Precision Machine Manufacturing, Energy & Power), and Geography - Global Forecast to 2023

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Report Code
SE 6684
RI Published ON
10/15/2018
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