Evaluating Isostatic Pressing Market 2024

The isostatic pressing market size has grown strongly in recent years. It will grow from $7.3 billion in 2023 to $7.85 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growth in the aerospace industry, the increasing manufacturing production, the growing defense budgets and increasing automotive production.

The isostatic pressing market size is expected to see strong growth in the next few years. It will grow to $10.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the increasing urbanization, the rising electricity demand and the increasing healthcare expenditure and growth in the medical devices industry. Major trends in the forecast period include focus on strategic investments, capacity expansions, technological advancements, new advanced project developments, product innovations, installation of new machines and strategic partnerships and collaborations.

Market Overview -
Isostatic pressing refers to powder metallurgy (PM) procedure that evenly presses a powder compact in all directions to provide the greatest possible uniformity of density and microstructure without the geometrical restrictions of uniaxial pressing.

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Surging Aerospace And Defense Sector Drives Growth In The Isostatic Pressing Market
The rapidly growing aerospace and defense industry is significantly contributing to the growth of the isostatic pressing market. The aerospace and defense industry is involved in designing, manufacturing, and developing advanced space systems, aircraft, and defense capabilities. Isostatic pressing is used in the aerospace industry for manufacturing aerospace castings, jet aircraft engine components, and turbine blades. In the defense industry, it is used in the production of bulletproof materials, gun parts, and others. The growing aerospace and defense sector will propel the growth of isostatic pressing. For instance, according to India Brand Equity Foundation, an Indian Government export promotion agency, the aerospace, and defense sector will reach $70 billion by 2030 due to demand for advanced infrastructure. Therefore, the rapidly growing aerospace and defense industry will promote the growth of the isostatic pressing market.

Competitive Landscape -
Major companies operating in the isostatic pressing market report are Kobe Steel Ltd, Aalberts N.V, Nikkiso Co. Ltd, Bodycote PLC, Hoganas AB, Pressure Technology Inc, Hiperbaric, FREY & Co. GmbH, Dorst Technologies GmbH & Co. KG, MTI Corporation, Shanxi Golden Kaiyuan Co. Ltd, Shenyang Kejing Auto-instrument Co. Ltd, PTC Industries, Vima Engineers, Madhuchitt Industries, Xiamen Tmax Battery Equipments Limited, OC Oerlikon Management AG, CREMER Thermoprozessanlagen GmbH, Loomis Products Company, Isoform NV, Morgan Advanced Materials Plc, JSC Polema, Altha Powder Metallurgy Sp. z o.o, Z?omex S.A, Kennametal Inc, American Isostatic Presses Inc, Stack Metallurgical Group, Burloak Technologie, Magnesita Refratários S.A.

Quintus Technologies Introduces Purus Toolbox To Revolutionize Hot Isostatic Pressing
Major companies operating in the isostatic pressing market are putting their efforts into innovating new products and solutions to grow in the market. For example, in April 2023, Quintus Technologies AB, a Sweden-based high-pressure manufacturing technology company, developed the Purus Toolbox for hot isostatic pressing. It is designed to make it feasible to obtain component surfaces free of oxidation after hot isostatic pressing (HIP), obviating the need for labor-intensive, expensive, or dangerous pre- and post-processing. The majority of these problems, according to Quintus Purus, can be avoided or greatly minimized by using the toolbox it has developed, which consists of new HIP equipment hardware and software capabilities and custom oxygen-getter cassettes. This improves component design, lowers manufacturing costs and has a lower environmental impact. Purus enables the production of the 'HIP process' without the need to hand wrap each component in metal foil or eliminate oxidized surfaces through post-processing machining or chemical etching. As a result, there is a decrease in the requirement for dangerous chemicals, manufacturing costs and energy consumption.

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Key Segments -

The isostatic pressing market covered in this report is segmented -

1) By Type: Isostatic Pressing (HIP), Cold Isostatic Pressing (CIP)
2) By Offering: Systems, Services
3) By Process Type: Wet Bag Pressing, Dry Bag Pressing
4) By Capacity: Small Sized, Medium Sized, Large Sized
5) By End-User Industry: Manufacturing, Automotive, Electronics And Semiconductor, Medical, Aerospace And Defense, Energy And Power, Research And Development, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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