According to the latest report by IMARC Group, titled “Isostatic Pressing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global isostatic pressing market size reached a value of US$ 6.06 Billion in 2021. Isostatic pressing (IP) refers to the powder metal manufacturing process that uses fluid pressure to improve porosity in powdered metals. The material is modified by uniformly pressing them in all directions in order to achieve maximum uniform density through the use of water, oil, or gas (generally argon (Ar). By performing pressure pressing without the geometric constraints of uniaxial pressing, the powder becomes highly compact and uniform without compromising its microstructure. The isostatic pressing process can be performed at either high or low temperatures. Consequently, IP processes are widely used on ceramic balls, fuse and lighting tubes, and spark plug insulators.
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Global Isostatic Pressing Market Trends:
The market is majorly driven by the escalating demand for materials with high density and low porosity in 3D printing applications. This can be attributed to the rapid utilization of additive manufacturing technology in the automotive sector for manufacturing spare parts at low costs. In line with this, a considerable rise in the development of products with short production cycles in numerous end-use industries, primarily healthcare, energy and power, and aerospace and defense sectors, are propelling the market. Moreover, the growing need for low-cost titanium and its different alloys in numerous manufacturing applications is further creating a positive outlook for the market. Some of the other factors providing an impetus to the market growth include rapid industrialization, continual technological advancements in heat treatment processes, and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 8.4 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
- Based on the type, the market has been segmented into hot and cold isostatic pressing.
- On the basis of the offering, the market has been divided into services and systems.
- Based on the application, the market has been categorized into automotive, aerospace and defense, medical, precision machine manufacturing, energy and power, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Bodycote, Dorst Technologies GmbH & Co. KG, EPSI, Fluitron Inc., FREY & Co. GmbH, Hiperbaric, Höganäs AB, Isostatic Pressing Services, Kobe Steel Ltd., MTI Corporation, Nikkiso Co. Ltd., and Pressure Technology Inc.
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