The global isostatic press market is evaluated to be worth US$8.362 billion for the year 2019. Isostatic press is a machine that is used to carry out the process of isostatic pressing. Isostatic pressing is a forming process under powder metallurgy and is used to distribute the compact powder material evenly in all directions due to which, maximum density and uniformity of the microstructure are achieved. There are two methods of conducting this process, which is a hot and cold method.
Cold pressing is used to compact parts at ambient temperature, whereas hot pressing is used to join parts completely and it is done at elevated temperatures by solid-state diffusion. There is a mounting concern among end-user industries to manufacture and produce components of high quality with enhanced properties for purposes like injection molded automotive components, turbine components, commercial casting, and airframe casting, metal additive manufacturing for aerospace among others, which is leading to increased adoption by the industries. Moreover, as the manufacturing process and operations are increasing in different industries, the companies are looking for solutions that can provide low tooling cost, the flexibility of components, reduction in material expenses, enhanced mechanical properties, and the possibility of making alloys, and thereby boosting the adoption of these solutions. Furthermore, increasing investments and participation of market players to improve these machines by incorporating advanced features and encouraging its usage across different industry verticals. For instance, on May 15, 2019, Quintus Technologies, which designs, manufactures, installs, and provides support for high-pressure systems for industries, based in Sweden, announced the launch of their new hot isostatic press machine QIH 60M URC. This machine is capable of reducing the number of steps required to manufacture a product as it combines the press operation as well as cooling operations and can provide greater throughput. In addition, on November 6, 2019, Hiperbaric, which is one of the leading companies in producing high-pressure processing equipment for the food industry announced its expansion into the additive manufacturing line by stating the production of hot isostatic presses.
The isostatic press market has been segmented based on type, size, end-user industry, and geography. By type, the market has been segmented as cold isostatic press, hot isostatic press. By size, the market has been segmented as small-sized, medium-sized, and large-sized. By end-user industry, the market has been segmented into automotive, aerospace and defense, healthcare, energy and power, manufacturing, and others
Hot Isostatic Press (HIP) to hold a significant market share
By type, the hot isostatic press is expected to hold a significant market share attributable to the fact that this machine is commonly used for many manufacturing processes in different industries. It effectively joins parts and enhances the mechanical properties making the component manufactured more durable.
Medium-sized Isostatic press demand to remain robust
By size, the demand for the medium-sized isostatic press is expected to remain robust owing to the fact that most of the manufacturing of components is done for smaller or medium-sized components, to improve their strength and properties so they are subjected to lesser wear and tear.
Manufacturing, and aerospace, and defense remain the key industry verticals
By end-user, manufacturing is expected to hold a major market share attributable to the growing demand for additive manufacturing in many end-user industries and for the production of a wide range of components. The aerospace and defense sector is also expected to hold a considerable market share owing to the increasing number of advanced aerospace projects and the burgeoning requirement of top-quality aircraft parts.
Solutions to hold a significant share
By offering, solutions are expected to hold a significant amount of share in the market owing to the fact most of the major manufacturing industries and automotive industries have these machines already fitted to reap the full capabilities of them and carry out top-quality post-processing of components and materials to enhance their properties.
Asia Pacific and North America are key regional markets globally
By geography, the Asia Pacific region is expected to hold a significant market share being driven by increasing production of automobile and automotive components in major economies of the Asia Pacific region like India and China. Also the increasing domestic and international production of components in the aerospace industry in North America and Europe is further augmenting the demand for isostatic press solutions.
Some of the players mentioned a part of this report are Kobe Steel, Ltd., Technology Way, EPSI, DORST Technologies GmbH & Co. KG.
|Market size value in 2019||US$8.362 billion|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Size, End-User Industry, Offering, And Geography|
|Companies covered||Kobe Steel, Ltd., Bodycote, Nikkiso Co., Ltd, American Isostatic Presses (AIP), Inc., EPSI, Pressure Technology, Inc., Shanxi Golden Kaiyuan Co., Ltd., Fluitron, Inc., DORST Technologies GmbH & Co. KG, Quintus Technologies AB, Arconic Inc.|
|Customization scope||Free report customization with purchase|
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