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    Isostatic Pressing Market Size Expected to Reach $12.2 Million by 2026
    (I-BusinessNews.Com, August 08, 2021 ) Isostatic Pressing Market is expected to reach $12.2 million by 2026 at a CAGR of 8.8% during the forecast period 2021-2026, owing to growing demand for high-density and low-porosity materials in 3D printed parts. In addition, growing investment by aerospace and defense players in the installation of Hot isostatic pressing (HIP) technology is a key opportunity for the growth of the isostatic pressing market players and investments made by several companies for installation of isostatic pressing is also analyzed to drive the market growth.

    For instance, Alcoa invested $22 million in Michigan for latest HIP technology to strengthen the metallic structure of titanium, nickel and 3D-printed jet engine parts. Hence these investments are analyzed to drive the market growth in the forecast period 2021-2026. The Isostatic Pressing market is driven by demand for powder metallurgy processes particularly in spark plug insulators and precision machinery among others.



    Isostatic Pressing Market Segment Analysis - By HIP Capacity



    Large-Sized HIP is growing at the highest CAGR of 10.8% in the forecast period. These large capacities of HIP systems allow the densification of larger products and powder metallurgy batches, reduce per-unit processing costs, and help customers to have a greater competitive advantage in the market. The growth of this market is attributed to the increasing need for HIP in the large-size products manufacturing applications in various industries, such as aerospace & defense, automotive, and precision machinery manufacturing. Moreover rising adoption of HIP is also analysed to drive the market growth. In 2019, Paulo Metal company added hot isostatic pressing to its thermal-processing services with the acquisition of Quintus Technologies. Hence these factors are analysed to drive the market in the forecast period 2021-2026.



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    Isostatic Pressing Market Segment Analysis - By Application



    The isostatic pressing market for the applications in the medical segment is expected to grow at the highest CAGR of 11.2% during the forecast period. In the medical industry, isostatic pressing is used to improve the properties of various materials used in this industry such as cast cobalt chrome, titanium, and stainless-steel implants and dental brackets. Moreover companies such as GE Healthcare, Thermo Fisher Scientific and so on have been investing heavily in additive manufacturing. This contributes to the growth of the market for the market for medical during the forecast period 2021-2026.



    Isostatic Pressing Market Segment Analysis - By Geography



    Isostatic pressing in North America has held highest share of 35% in the forecast period, owing to demand for HIP-processed products in various industries, including precision manufacturing, aerospace & defense, and automotive. A few HIP manufacturers have implemented high-capacity HIP units at research facilities in North America to expand a wide variety of industrial components with the elimination of internal porosity through high precision machinery. For instance, Avure Technologies installed largest cold Isostatic press to produce the largest isotropic graphite components in the world. In addition, isostatic pressing is used to manufacture various automotive components such as spark plug insulators and carbide tools. Moreover increase in inclination toward developing low-cost products with shorter cycle times is also expected to fuel the market growth in the forecast period 2021-2026.



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    Isostatic pressing Market Drivers



    Growing adoption of Isostatic Pressing in Aerospace and Defense Industries



    Growth of aerospace and defense industries is positively impacting the adoption of advanced isostatic pressing method. Hot isostatic pressing (HIP) technology is used in developing stainless steel and nickel base superalloy using powder metallurgy which are used in the aerospace and defense industry for missile and space vehicle applications. HIP technology is also used to manufacture commercial aircraft. Aircraft parts and engines need to be high in density and low in weight to ensure great operational performance. HIP is deployed during the processing of these parts to develop a larger and more diverse set of aircraft and engine parts. Thus, HIP technology is expected to witness increasing application in aerospace and defense industry to enhance the material capabilities and process efficiency in the near future. In 2017, Arconic and Airbus collaborated to develop advanced metal 3D printing technology for aircraft manufacturing as well as customization in processes, to produce and qualify large, structural 3D printed components, such as pylon spars and rib structures. Hence these factors are analyzed to drive the market growth in the forecast period 2021-2026.



    Increasing demand for combining HIP with other heat treatment processes



    Conventional practice often has the HIP and heat treat processes performed at different facilities, thus, the parts must be loaded and unloaded into process vessels twice and shipped from one facility to another, and hence this consumes more time and power. However, the combination of HIP and other heat treatment processes in a single and integrated unit benefits by reducing energy consumption and improving the delivery time of components. Moreover, processes such as HIP, additive manufacturing, and spark plasma sintering can be used as a single unit to create high-integrity, near-net-shape parts from metal powder, while decrease processing costs and energy consumption. Hence these factors drive the market growth in the forecast period 2021-2026.



    Isostatic pressing Market Challenges



    High Initial Cost of the Isostatic Press



    High initial cost for the installation of isostatic press hampers the market growth in the forecast period. The designing and development of isostatic presses, which are used for densification, casting, and manufacturing of various materials and components, are expensive processes. In addition, the HIP processing needs inert gas as the pressurizing medium to apply equal force for the densification or casting part. Apart from these major components, HIP units have diaphragm compressors, non-lubricated piston compressors, etc., as the essential parts for processing. These components increase the total operating cost of a system. Moreover, the installation of these systems needs trained personnel to have a thorough knowledge of the systems, which adds to the implementation cost as well. Therefore, the cost of designing and development along with the cost of installation leads to a high initiation cost.



    Market Landscape



    Product launches, acquisitions, expansions, partnerships and R&D activities are key strategies adopted by players in the Isostatic pressing market. In 2019, the market of Isostatic pressing industry outlook has been fragmented by several companies. Isostatic pressing top 10 companies include Pressure Technology Inc., Kittyhawk Products, Quad City Manufacturing Lab, Kobe Steel Ltd., Bodycote, Kennametal Inc., Arconic, Nikkiso Co., Ltd., Höganäs AB, Shanxi Golden Kaiyuan Co., Ltd., Quintus Technologies AB, Sandvik AB, among others.



    Acquisitions/Technology Launches



    In January 2019, EOS had announced three recent leadership appointments in the Asia-Pacific as well as expansion of its regional footprint as a part of the company's bid to meet strong demand for the additive manufacturing (AM) sector.



    Key Takeaways



    Isostatic pressing in North America has held highest share of 35% in the forecast period, owing to demand for HIP-processed products in various industries, including precision manufacturing, aerospace & defense, and automotive.



    Large-Sized HIP is growing at the highest CAGR of 10.8% in the forecast period. The large capacities of HIP systems allow the densification of larger products and batches, reduce per-unit processing costs, and help customers to have a greater competitive advantage in the market.



    Growth of aerospace and defense industries is positively impacting the adoption of advanced isostatic pressing method. Hot isostatic pressing (HIP) technology is used in developing stainless steel and nickel base superalloy which are used in the aerospace and defense industry for missile and space vehicle applications.



    Isostatic pressing top 10 companies include Pressure Technology Inc., Kittyhawk Products, Quad City Manufacturing Lab, Kobe Steel Ltd., Bodycote, Kennametal Inc., Arconic, Nikkiso Co., Ltd., Hoganas AB, Shanxi Golden Kaiyuan Co., Ltd., Quintus Technologies AB, Sandvik AB, among others.



    Related Reports :



    A. 3D Printing Market

    https://www.industryarc.com/Report/18389/3d-printing-market-research-report-analysis.html



    B. E-Jet Printer Market

    https://www.industryarc.com/Report/19308/e-jet-printer-market.html



    For more Electronics Market reports, please click here



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    IndustryARC

    Venkat Reddy

    (+1) 970-236-3677

    venkat@industryarc.com

    Source: EmailWire.Com

    Source: EmailWire.com

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