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Isostatic Pressing Market worth $9.9 Billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Aug. 15, 2024 /PRNewswire/ — The global Isostatic Pressing Market is expected to be valued at USD 7.6 Billion in 2024 and is projected to reach USD 9.9 Billion by 2029 and grow at a CAGR of 5.4% from 2024 to 2029 according to a new report by MarketsandMarkets™. The Isostatic Pressing Market is expected to reach USD 9.9 billion by 2029 from USD 7.6 billion in 2024, at a CAGR of 5.4% during 2024–2029. The significant growth factor associated with the isostatic pressing market is Increased deployment of HIP systems to densify 3D-printed parts, Capability of HIP systems to reduce product maintenance costs and cycle time, Increasing emphasis on integrating HIP with other heat-treatment processes, Increased technological advancement in Cold Isostatic Pressing (CIP), enhancements in automation and real-time process monitoring boost the efficiency and uniformity of isostatic pressing, making it a more viable option for large-scale production, and increasing requirement for high-density, long-lifecycle materials by various industries, such as aerospace, automotive, and medical, all help to drive market growth.

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Browse in-depth TOC on “Isostatic Pressing Market” 

200 – Tables
67 – Figures
235 – Pages

Isostatic Pressing Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 7.6 Million

Estimated Value by 2029

$ 9.9 Billion

Growth Rate

Poised to grow at a CAGR of 5.4%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By valve type, material, size, pressure range, implementation, application, end-user industry, and region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Complex Setup and Operation in Isostatic Pressing

Key Market Opportunities

Growing usage of HIP in the aerospace industry

Key Market Drivers

Increasing emphasis on integrating HIP with other heat-treatment processes

 

The hot isostatic pressing (HIP) segment is to grow with a higher CAGR during the forecast period.

HIP systems combine the standard HIP cycles with various heat treatment processes. Such systems have very wide applications in powder metallurgy operations across the world, since they increase productivity and process efficiency. HIP-based processes play an important role in the manufacture of complex parts such as spheres, valves, pipes, and rods for various industries. It is demand from the aerospace, defense, medical, and automotive industries driving the growth in hot isostatic pressing, a process that increases mechanical properties and reliability. This is fueled even further by its integration with additive manufacturing, taking use of HIP’s ability to reduce porosity and increase density.

Service segment is to grow at the highest growth rate during the forecast period.

The services of HIP and CIP includes casting densification, HIP/CIP cladding, HIP brazing, production of powder metalluargy, molding, powder compacting, bonding and diffusion. The growth of the services segment can be attributed to the increasing requirement for high-density, long-lifecycle materials by various industries, such as aerospace, automotive, and medical. Moreover, the increasing focus of raw material providers/manufacturing firms on building their reputation for consistent and flawless material characteristics will drive the demand for isostatic pressing services. Companies such as Bodycote, MTC Powder Solutions provide all these isostatic pressing services.

Dry bag pressing segment contributed highest market share in 2023.

The cold isostatic pressing market is segmented into two segments based on process type: wet bag (for creating flexible systems) and dry bag (for mass production). The dry bag pressing segment dominated the cold isostatic pressing market in 2023, owing to the availability of fully automated dry bag systems with computerised controls and user-friendly software. It is a faster isostatic processing method for component production than wet bag pressing. Also, the dry bag CIP process is more efficient and economical than the wet bag CIP process, as dry bag CIP is used for simple and small-volume part densification.

Precision machine manufacturing industry holds the largest market share during the forecast period.

The market is segmented into various industries including automotive, aerospace, medical, energy & power, electronics & semiconductor, precision machine manufacturing, research & development, other industries. Precision machine manufacturing industry holds the largest market share during the forecast period. The HIP is used in precision machine manufacturing to manufacture a range of products, such as aluminum castings for machinery and heavy equipment. The market for the precision machine manufacturing segment is anticipated to witness significant growth during the forecast period, owing to the widening application scope of isostatic pressing systems in food & beverage, oil & gas, and steel manufacturing processes. Besides, technological advancements in the manufacturing industry are expected to propel the segment’s growth. Energy & power is likely to be the second largest segment during the forecast period.

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North America accounted for the largest share of the isostatic pressing market in 2023.

North America consists of –the US, Canada, and Mexico. North America is one of the leading producers of powder metallurgy (PM) products globally. The region accounts for a large share of the isostatic pressing industry due to the increasing demand for HIP-processed products in various industries, and strong presence of key industries like precision manufacturing, aerospace, defense, medical, automotive. A few isostatic pressing system manufacturers have implemented highly capable isostatic pressing units at research facilities in North America to densify industrial components and eliminate internal porosity. For example, Bodycote IMT, Inc. (US) is a premier isostatic pressing system and service provider in the region.

Key Players

The report profiles Isostatic Pressing Companies players such 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), and others.

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