USD 6.40 billion
Report ID:
SQMIG20A2266 |
Region:
Global |
Published Date: November, 2024
Pages:
156
|Tables:
140
|Figures:
73
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.
Global Market Size
USD 6.40 billion
Largest Segment
services
Fastest Growth
systems
Growth Rate
5.50%
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Global Isostatic Pressing Market is segmented into Material, Offering, Type, Capacity, Process Type, Application, and Region. By Material, the market is classified into Metal, Ceramic, Composite, Plastic, and Carbon. Based on Offering, it is categorized into Systems, and Services. Based on Type, the market is divided into Hot Isostatic Pressing (HIP), and Cold Isostatic Pressing (CIP). Based on Capacity, the market is segmented into Small-Sized Hot Isostatic Pressing, Medium-Sized Hot Isostatic Pressing, and Large-Sized Hot Isostatic Pressing. Based on Process Type, the market is segmented into Wet Bag Pressing, and Dry Bag Pressing. Based on Application, the market is segmented into Casting Densification, HIP Cladding, HIP Brazing, Additive Manufacturing (AM), Metal Injection Molding (MIM), and Powder Metallurgy (PM). Based on End-Use Industry, the market is segmented into Automotive, Aerospace, Medical, Energy & Power, Electronics & Semiconductor, Precision Machine Manufacturing, Research & Development, and Other End-Use Industries. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Offering
Based on offering, the isostatic pressing market is categorized into services and systems. The services segment held a notable market share in 2023 and will continue dominance over the forecast period owing to specialization and customization, better technical assistance, and upgrades and maintenance. Several manufacturers need customized technologies for certain applications. Hence, service providers offer specialization in enhancing isostatic pressing techniques to satisfy diverse consumer requirements. The present consultation services and technical support are assisting consumers to optimize their quality and efficacy of isostatic pressing techniques, making them value based. Also, upgradation and regular maintenance of these equipment confirm longevity and operational efficiency, thus the segmental growth.
On the other hand, the systems segment is projected to grow considerably over the forecast period owing to its efficiency and automation, improved customization capabilities, and better monitoring and control. Advanced systems mostly comprise enhanced automation features that reduce labor costs, improve productivity, and curtail errors, increasing their prominence to manufacturers. These systems can also be customized to cater to certain production needs, enabling manufacturers to enhance their processes for diverse applications and materials. The improved isostatic pressing solutions are integrated with better control techniques and advanced monitoring that comply with strict standards and ensure performance and consistent quality, attracting industries.
Analysis by Application
Based on application, the market is segmented into automotive, aerospace & defense, medical, precision machine manufacturing, energy & power, and others. The food & beverage segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the growing need for high-performance, demand for better customization, and development in materials. Medical devices need materials with high-quality biocompatibility, mechanical properties, and precision. isostatic pressing techniques can capably development components that satisfy these demands and standards. The medical sector mostly demands customized solutions for certain applications like surgical instruments and implants, increasing the demand for more effective pressing techniques.
On the other hand, the precision machine manufacturing segment will hold a remarkable market share in the coming years owing to extreme tolerance needs, material efficiency, complex geometrics, and consistent quality. Precision equipment demands parts with strong tolerances and brilliant surface finishes, which can be best provided by isostatic pressing. The said technique also majorly reduces wastage, enhances material density, which makes it suitable for manufacturing quality components employed in precision machines. Moreover, the capability to create complex and intricate shapes increased the value and demand of precision machining that needs customized parts. Also, uniform pressure use in isostatic pressing confirms consistent quality in all components, which is important in precision engineering.
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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.
Europe is the fastest-growing region in the global isostatic pressing market due to strong industrial base, research and developments and innovations, and focus on sustainability. Europe holds a well-developed industrial sector, mainly in automotive, medical devices, and aerospace, which notably impacts the demand for high-performing materials and the market growth. European companies are also heavily investing in R&D with emphasis on advanced manufacturing techniques and materials for better isostatic pressing competencies. European manufacturers are also actively focusing on sustainable practices with less efforts to reduce wastage and enhance material efficacy. These factors are projected to drive market growth in the region.
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Drivers
Growing Demand from End-Use Industries
Advancements in Isostatic Pressing Technology
Restraints
Material Limitations to Restrain Market
Competitive Alternative Processes
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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.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the isostatic pressing market is considerably progressing due to increasing investments in research and development for advanced manufacturing processes, growing focus on precision and quality, and progressing developing economies, witnessing speedy industrialization. However, the market is hampered by market volatility and economic factors like changes in consumer demand and recession, stringent regulatory standards that could increase costs of processes and complexity, and rising sustainability concerns like pressure to adopt green initiatives for manufacturing. North America is anticipated to lead the market owing to strong supply chains, rising alliances between research institutes and industries for developments in manufacturing, and emphasis on sustainability. Nonetheless, the opportunities impacting the growth of the isostatic pressing market include growing number of training programs and education to reduce knowledge gap, customization for high-performing industries due to the growing demand for specialized components.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 6.40 billion |
Market size value in 2031 | USD 10.36 billion |
Growth Rate | 5.50% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Isostatic Pressing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Isostatic Pressing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Isostatic Pressing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Isostatic Pressing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG20A2266
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