The isostatic pressing market share is expected to increase by USD 2.08 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.75%.
This isostatic pressing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers isostatic pressing market segmentation by application (precision machinery, automotive, energy, and others) and geography (North America, Europe, APAC, South America, and MEA). The isostatic pressing market report also offers information on several market vendors, including American Isostatic Presses Inc., Bodycote Plc, Engineered Precision Casting Co. Inc., Fluitron Inc., Isostatic Pressing Services LLC, Kennametal Inc., Kittyhawk Products, Kobe Steel Ltd., Lake City Heat Treating Corp., and Pressure Technology Inc. among others.
What will the Isostatic Pressing Market Size be During the Forecast Period?
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Isostatic Pressing Market: Key Drivers, Trends, and Challenges
The rising interest in am techniques is notably driving the isostatic pressing market growth, although factors such as the high capital cost of isostatic pressing equipment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the isostatic pressing industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Isostatic Pressing Market Driver
Rising interest in AM techniques is one of the major drivers impacting the isostatic pressing market growth. The ability to generate components and parts faster at lower costs and with substantially less material loss has made AM an attractive prospect in the R&D sector and industries such as automotive manufacturing, aerospace, and medical device manufacturing. General Motors have already been using 3D printers to produce prototype parts used during the development phase and for aerodynamic testing. The company expects that the technology will become viable for the mass production of automotive components by 2021-2023. Quintus Technologies offer Hot Isostatic Press that enables advanced thermal spray coatings specialist Flame Spray SpA to react to the growing demand for the densification and heat treatment process, as additive manufacturing (AM) increasingly takes hold in aerospace parts production. Isostatic pressing allows the above-mentioned manufacturers to further reinforce the components and increase the durability of parts for use in applications. Therefore, with the large-scale adoption of AM in mass manufacturing industries, the demand for isostatic pressing is also expected to rise during the forecast period.
Key Isostatic Pressing Market Trend
Diversification of HIP process atmosphere is one of the major trends influencing the isostatic pressing market growth. The selection of gases used in the HIP process is of key importance to the manufacturers. Generally, an inert gas such as argon is used in the process atmosphere as it has low reactivity to materials even at high temperatures. Inert gases are also used for the quenching of the material during the vacuum heat treatment process and are critical for inerting the process environment. This is to reduce the risk of combustion when processing reactive metals such as aluminum and titanium. The demand for HIP in new application areas is emerging. Therefore, isostatic pressing equipment manufacturers are looking to diversify the HIP process atmosphere and are developing HIP equipment that can use gases such as oxygen, nitrogen, and hydrogen
Key Isostatic Pressing Market Challenge
The high capital cost of isostatic pressing equipment is one of the major challenges impeding the isostatic pressing market growth. The high capital cost of deploying isostatic pressing solutions and investments in their subsequent maintenance is significantly limiting the large-scale adoption of the technology among end-users. Most of the isostatic pressing equipment, which can be used for commercial production, currently available in the market, cost more than $200,000-$400,000. They are designed for short-run production runs. Most HIP machines are designed to handle pressures between 30 MPa and 300 MPa and temperatures of up to 2 000 C. To withstand such extreme conditions, isostatic pressing machines are designed with advanced safety measures and durable materials that escalate the cost of the machine. As a result, isostatic pressing is usually used only in critical casting applications and in industries such as aerospace manufacturing. The high cost of equipment is prompting many consumers to opt for HIP operations through third-party service providers instead of installing dedicated isostatic pressing equipment at their own facilities. Such factors have been limiting the demand for isostatic pressing equipment among end-user industries.
This isostatic pressing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global isostatic pressing market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the isostatic pressing market during the forecast period.
Who are the Major Isostatic Pressing Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- American Isostatic Presses Inc.
- Bodycote Plc
- Engineered Precision Casting Co. Inc.
- Fluitron Inc.
- Isostatic Pressing Services LLC
- Kennametal Inc.
- Kittyhawk Products
- Kobe Steel Ltd.
- Lake City Heat Treating Corp.
- Pressure Technology Inc.
This statistical study of the isostatic pressing market encompasses successful business strategies deployed by the key vendors. The isostatic pressing market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The isostatic pressing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Isostatic Pressing Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the isostatic pressing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of industrial machinery market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Isostatic Pressing Market?
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33% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the isostatic pressing market in APAC. Market growth in this region will be faster than the growth of the market in regions.
The US and Canada are significant manufacturers and consumers of commercial and defense aircraft, automobiles, consumer electronic products, and advanced medical and healthcare devices globally. These are the key application areas for isostatic pressing, that will facilitate the isostatic pressing market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The temporary shutdown of automotive manufacturing facilities affected not only the production of vehicles but also the demand for related components. This resulted in a decline in demand for isostatic pressing. Also, despite the progress in containing the pandemic, following the initiation of large-scale vaccination drives, the risk of further waves of the pandemic remains, and automotive sales in the US are not expected to rebound to pre-COVID levels until 2023 at the earliest. Also, the uptake of EVs is growing rapidly in the US. For instance, electric vehicle sales in the US in May 2021 reached 53,779 units, representing a 19.2% increase over those in April 2021. Thus, major players such as Tesla and others have been manufacturing electric SUVs, which will boost the growth of the isostatic pressing market in the region during the forecast period.
What are the Revenue-generating Application Segments in the Isostatic Pressing Market?
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The isostatic pressing market share growth by the precision machinery segment will be significant during the forecast period. Isostatic pressing is a process used for the densification of formed or cast metal and ceramic components. Manufacturers of various industries can use isostatic pressing to reduce the porosity of the metal or ceramic part and improve its mechanical properties and workability.
This report provides an accurate prediction of the contribution of all the segments to the growth of the isostatic pressing market size and actionable market insights on post COVID-19 impact on each segment.
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Isostatic Pressing Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.75% |
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Market growth 2021-2025 |
$ 2.08 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.50 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
APAC at 33% |
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Key consumer countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
American Isostatic Presses Inc., Bodycote Plc, Engineered Precision Casting Co. Inc., Fluitron Inc., Isostatic Pressing Services LLC, Kennametal Inc., Kittyhawk Products, Kobe Steel Ltd., Lake City Heat Treating Corp., and Pressure Technology Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Isostatic Pressing Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive isostatic pressing market growth during the next five years
- Precise estimation of the isostatic pressing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the isostatic pressing industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of isostatic pressing market vendors
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