The isostatic pressing market size is projected to reach US$ 12.27 billion by 2030 from US$ 6.89 billion in 2022. The market is expected to register a CAGR of 7.5% during 2022–2030. Green manufacturing is likely to remain a key trend in the market.
The increasing demand for high-performance materials influences the market. Isostatic pressing, which allows the production of components with optimal properties for high-performance applications, serves as a significant driver for market growth. The demand for powder metallurgy also contributes to the market's expansion. Isostatic pressing plays a crucial role in consolidating ceramic or refractory powders, thereby supporting the overall growth of the market. Several factors, including the demand from diverse industries, the escalating need for high-performance materials, the advantages in ceramic and refractory applications, the demand for powder metallurgy, and grain growth and densification, collectively propel the growth and development of the isostatic pressing market
Isostatic pressing is an emerging industry characterized by the uniform application of pressure in all directions onto a powder compact. This technique encompasses multiple processes, including hot isostatic pressing (HIP), cold isostatic pressing (CIP), and uniaxial presses. Its widespread application in sectors such as aerospace, automotive, medical, and energy enables the production of high-density and uniformly structured components. Isostatic pressing offers distinct advantages in ceramic and refractory applications. Its capability to shape products with precise tolerances reduces the reliance on expensive machining processes, thereby facilitating the commercial development of isostatic pressing.
Growing industrialization has led to a heightened demand for advanced materials with specific properties such as enhanced strength, wear resistance, and thermal stability. Isostatic pressing is a key manufacturing process for shaping and consolidating these materials. In the aerospace industry, where components require high strength and lightweight properties, isostatic pressing is used to manufacture intricate parts from advanced materials such as titanium, alloys, and ceramics. Industrialization has driven the adoption of powder metallurgy techniques, and isostatic pressing is integral to this process. It allows for efficient shaping and consolidation of metal powders to produce high-performance components.
The aerospace & defense sector is expanding significantly globally. The aircraft manufacturing industry has been under constant pressure from the commercial aviation sector to deliver the required volumes of aircraft fleets of various models. According to Boeing and Airbus forecasts, more than 24,000 commercial aircraft will be delivered by the end of 2041. This is expected to bolster the demand for new aircraft engines and next-generation digital ignition systems. The continuous increase in aircraft deliveries by leading aircraft manufacturers such as Boeing, Airbus, Lockheed Martin, Bombardier, and ATR has prompted them to enhance their production capacities in order to address the growing backlogs in their pipelines. As a result, there is a rising demand for aircraft engines. The increase in aircraft production will lead to an increase in the demand for isostatic pressing technique. Modern aircraft designs involve intricate and complex components. Isostatic pressing allows for the manufacturing of parts with complex geometries, ensuring precision and consistency. For example, isostatic pressing is used to produce complex-shaped components, such as structural elements and brackets for aircraft, contributing to the overall efficiency and safety of aerospace systems. Defense applications require specialized materials with precise characteristics. Isostatic pressing contributes to the production of components used in defense technologies, including radar systems and communication devices. Isostatic pressing is applied to shape components for military-grade electronic systems, where reliability and durability are critical for mission success. Thus, the expansion of the aerospace & defense sector drives the isostatic pressing market growth.
Additive manufacturing (AM), supported by High-Pressure Heat Treatment (HPHT) as a manufacturing concept, has the potential not only to emulate traditional manufacturing routes for ceramic and metallic materials but also surpass these when it comes to opportunities for innovative manufacturing strategy, component design, and ultimate material properties. By the use of HIP for additive manufacturing materials, these defects can be eliminated, and the material will have a 100% relative density. Isostatic pressing is employed to consolidate and densify these materials, enhancing their mechanical properties. After 3D printing a metal or ceramic component, isostatic pressing can be used to reduce porosity and improve the structural integrity of the final part. Thus, the increasing adoption of additive manufacturing is providing growth opportunities for the isostatic pressing market by providing a complementary solution to address challenges associated with material consolidation, density improvement, surface finish enhancement, and the optimization of powder metallurgy.
Key segments that contributed to the derivation of the isostatic pressing market analysis are offering, type, and application.
The geographic scope of the isostatic pressing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The Asia Pacific isostatic pressing market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China accounted for the largest share of the Asia Pacific isostatic pressing market in 2022. APAC has witnessed significant growth in the manufacturing industry due to the shift toward Industry 4.0 and growing automation. The region is one of the major producers of a wide range of machinery, including industrial and commercial machinery, agricultural machinery, and construction machinery. In 2020, machinery worth more than US$ 10 billion was produced in Vietnam. Vietnam is an important source of machinery and equipment for many countries in the region.
The regional trends and factors influencing the Isostatic Pressing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Isostatic Pressing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 6.89 Billion |
| Market Size by 2030 | US$ 12.27 Billion |
| Global CAGR (2022 - 2030) | 7.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Offering
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Isostatic Pressing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Isostatic Pressing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The isostatic pressing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the isostatic pressing market are listed below:
The “Isostatic Pressing Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Isostatic Pressing Market
The isostatic pressing market size is projected to reach US$ 12.27 billion by 2030.
The leading players operating in the isostatic pressing market are American Isostatic Presses Inc., Bodycote Plc, EPSI Inc., Fluitron Inc., Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, Nikkiso Co Ltd, Pressure Technology Inc., and Shanxi Golden Kaiyuan Co Ltd.
Asia Pacific is expected to dominate the isostatic pressing market with the highest market share in 2022.
Green manufacturing is anticipated to play a significant role in the global isostatic pressing market in the coming years.
The global isostatic pressing market is expected to grow at a CAGR of 7.5% during the forecast period 2022 - 2030.
Growing industrialization, expanding aerospace and defense sector, and growing demand for low-cost titanium and its alloys in the automotive industry are the major factors driving the isostatic pressing market.