Isostatic Pressing Market To Reach $12,210.4 Million By 2030

Isostatic Pressing Market Growth & Trends

The global isostatic pressing market size is anticipated to reach USD 12,210.4 million by 2030 and it is projected to grow at a CAGR of 7.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Isostatic pressing is a crucial manufacturing process for creating high-precision components with desirable material properties. The market is experiencing sustained growth owing to the increasing demand within diverse industries, including aerospace, automotive, electronics, and medical, where precision and high-performance materials are paramount.

Isostatic pressing, with its ability to produce components with uniform density distribution and enhanced mechanical properties, has become the preferred method for shaping intricate and critical parts. The versatility of isostatic pressing, allowing the formation of components from advanced materials, aligns perfectly with the evolving requirements of technologically advanced applications. The aerospace and defense sectors, in particular, heavily rely on isostatic pressing for manufacturing intricate components, such as turbine blades and rocket nozzles.

Moreover, the medical industry's increasing reliance on isostatic pressing for crafting dental implants and prosthetics underscores its importance in the healthcare domain. According to the National Health Expenditure Data, the U.S. Medicare spending increased by 8.4% to USD 900 billion in 2021. Medicaid spending increased by 9.2% to USD 734 billion compared to 2020. In 2021, the U.S. spending on medicines increased by 12% in 2021, due to increased demand for COVID-19 vaccines, boosters, and treatments. During the same year, prescription medication usage reached 194 billion daily doses. These factors contributed to the demand for isostatic pressing in the pharmaceutical industry.

Furthermore, the electronics and semiconductor industries leverage isostatic pressing to create finely detailed components like ceramic substrates and insulators, meeting the stringent standards of precision and quality. The continuous expansion and modernization of these industries contribute significantly to the expanding global market. Research and development activities in materials science and engineering play a pivotal role, with isostatic pressing being an essential tool for producing prototypes and small-scale production runs. As global industrialization and infrastructure development persist, the demand for high-performance materials escalates, further propelling the market. Stringent quality standards in industries such as aerospace and medical, where consistency and precision are non-negotiable, continue to drive the adoption of isostatic pressing technologies. In summary, the market growth is fueled by its versatility, precision, and ability to meet the evolving demands of industries seeking advanced manufacturing solutions.

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Isostatic Pressing Market Report Highlights

• Based on offering, the services segment led the market with the largest revenue share of 67.4% in 2023, owing to the growing need for precision manufacturing and advanced material solutions across various industries. This specialized manufacturing process involves subjecting materials to equal pressure from all directions, resulting in products with exceptional uniformity and density

• Based on type, the hot isostatic pressing has become integral in various industries due to its versatile applications. This advanced manufacturing process involves subjecting materials to high temperature and pressure simultaneously, resulting in dense and void-free components. The medical field also benefits from HIP, as it is utilized for manufacturing bio-implants, ensuring biocompatibility and structural reliability. As industries continue to prioritize advanced materials and intricate components, the demand for HIP applications is likely to grow, contributing to the overall advancement and efficiency across various sectors

• Based on capacity, the large-sized HIP plays a crucial role in the production of advanced and massive components across multiple industries. In the aerospace sector, HIP is extensively employed for manufacturing large and intricate parts such as turbine blades, structural components, and engine parts. The process ensures the removal of internal defects, enhances material properties and improves the overall structural integrity of these critical components

• Based on process type, the dry bag pressing is a specialized technique employed in various manufacturing processes to produce high-quality and precisely molded components. This method involves placing a material, often in the form of powders or granules, into a flexible, sealed bag, and subjecting it to heat and pressure. The absence of a liquid or binder in the process eliminates the need for drying or curing, streamlining production and reducing processing time

• Based on end-use, the medical segment dominated the market and accounted for the largest market share in 2023. There is a growing awareness within the manufacturing sector about the importance of adhering to safety standards. Manufacturers are recognizing the need for robust fall protection solutions to mitigate the risks associated with working at heights, leading to a higher adoption rate of safety equipment and systems

• In December 2023, Bodycote, a leading provider of heat treatment and specialist thermal processing services, unveiled a strategic plan to bolster and propel growth within its Specialist Technologies business. The company outlined its intention to expand the Group's hot isostatic pressing capabilities in the U.S., recognizing the importance of this advanced manufacturing process in meeting the demands of various industries. As part of this initiative, the company successfully entered into agreements to acquire two specialized technology-focused businesses in the U.S. These acquisitions align with the company's vision for strategic expansion and increased scale in the rapidly evolving field of hot isostatic pressing.

Isostatic Pressing Market Segmentation

Grand View Research has segmented the global isostatic pressing market based on offering, type, capacity, process type, end-use, and region:

Isostatic Pressing Offering Outlook (Revenue, USD Million, 2018 - 2030)

• Systems

• Services

Isostatic Pressing Type Outlook (Revenue, USD Million, 2018 - 2030)

• Hot Isostatic Pressing

• Cold Isostatic Pressing

Isostatic Pressing Capacity Outlook (Revenue, USD Million, 2018 - 2030)

• Small-sized HIP

• Medium-sized HIP

• Large-sized HIP

Isostatic Pressing Process Type Outlook (Revenue, USD Million, 2018 - 2030)

• Dry Bag Pressing

• Wet Bag Pressing

Isostatic Pressing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Manufacturing

• Automotive

• Electronics & Semiconductor

• Medical

• Aerospace & Defense

• Energy & Power

• Oil & Gas

• Others

Isostatic Pressing Region Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Isostatic Pressing Market

• KOBE STEEL, LTD.

• Bodycote

• Isostatic Pressing Services

• Nikkiso Co., Ltd.

• Kennametal Inc.

• DORST Technologies GmbH & Co. KG

• American Isostatic Presses Inc

• EPSI

• Shanxi Golden Kaiyuan Co., Ltd.

• Fluitron

• Pressure Technology, Inc.

• Kittyhawk

• Sandvik AB

• MTI Corporation 

• PTC Industries

• Höganäs AB