DUBLIN--(BUSINESS WIRE)--The "Isostatic Pressing Market by Offering, Type, HIP Capacity, CIP Process Type, Application: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global isostatic pressing market was valued at $5.81 billion in 2019, and is projected to reach $7.97 billion by 2027, registering a CAGR of 6.02% from 2020 to 2027.
Isostatic pressing is one of the fastest-growing heat and HIP treatment systems. Isostatic pressing is powder metallurgy designed to achieve maximum uniformity of density in titanium and other metallic applications. Thus, improves mechanical properties such as impact resistance and fatigue strength.
Rapid adoption of additive manufacturing techniques in automotive, healthcare, and aerospace industries, owing to growth in demand for HIP combined heat-treatment process drives the market growth. However, high cost of products in aerospace and automotive sectors in developing countries hampers early adoption of isostatic pressing technique. Isostatic pressing systems require a skilled workforce; which negatively influences demand for isostatic pressing systems globally. Furthermore, surge in the adoption of surgical and dental implants in healthcare sectors across the world is expected to provide lucrative opportunities for the global isostatic pressing industry during the forecast period.
The isostatic pressing market is analyzed by offering, type, HIP capacity, CIP process type, application, and region. On the basis of offering, the market is fragmented into services and systems. On the basis of type, it is segregated into hot isostatic pressing and cold isostatic pressing. By HIP capacity, it is divided into small-sized HIP, medium-sized HIP, and large-sized HIP. By CIP process type, it is divided into dry-bag pressing and wet-bag pressing. By application, the market is segregated into automotive, aerospace & defense, medical, precision machine manufacturing, energy & power, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Market Dynamics
Drivers
- Surge in demand for HIP, coupled with other heat treatment processes
- Rise in demand for products with short development cycle
- Rise in demand for additive manufacturing techniques
Restraint
- High initial investments in hot isostatic pressing
Opportunities
- Surge in demand for low-cost titanium alloys in automotive sector
- Growth in need for low-cost medical applications in healthcare industry
Challenges
- Isostatic pressing machinery requires a professional workforce to operate
Key Players
- American Isostatic Presses (API).
- Bodycote PLC.
- DORST Technologies GmbH & Co. KG.
- Engineered Pressure Systems (EPSI).
- Fluitron, Inc.
- Kobe Steel, Ltd.
- Nikkiso Co., Ltd.
- Pressure Technology, Inc
- Shanxi Golden Kaiyuan Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ce7h3p
