Isostatic Pressing Market is expected to reach US$ 12.27 billion by 2030

Growing Industrialization Drives Isostatic Pressing Market Growth

According to our latest study on “Isostatic Pressing Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Offering, Type, and Application,” the isostatic pressing market size was valued at US$ 6.89 billion in 2022 and is expected to reach US$ 12.27 billion by 2030. The isostatic pressing market is estimated to record a CAGR of 7.5% from 2022 to 2030.

Isostatic pressing systems are engineered to deliver precise and controlled pressure application, ensuring the uniform compaction and density of the pressed materials. These systems find widespread use in industries such as aerospace, automotive, medical, and manufacturing, where the production of high-quality components with specific properties is of utmost importance. Ongoing technological advancements and innovations characterize the systems segment of the isostatic pressing market. Manufacturers consistently strive to develop new and improved systems that enhance the efficiency, productivity, and reliability of the isostatic pressing process.

Isostatic Pressing Market – by Region, 2022 and 2030

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Source: The Insight Partners Analysis

The automotive industry in Europe is experiencing rapid growth due to the increasing production of vehicles in countries such as Germany, France, and Italy. Per the European Commission, the automotive industry offers direct and indirect jobs to 13.8 million people in Europe, indicating 15.1% of total European employment. Per the statistics cited by the European Federation for Transport and Environment, the UK government committed to a net zero emissions target by 2050 and proposed a ban on the sales of all polluting vehicles by 2035. Several players are launching new EVs in Europe. For instance, in July 2023, Amazon announced its plan to deploy its first European vans from Rivian—the US-based EV maker—in Germany over the coming weeks as part of long-term plans to electrify its transportation network. As part of a 100,000-vehicle order made in 2019 from Rivian, nearly 300 electric vans will be launched in Munich, Berlin, and Dusseldorf. Similarly, in September 2022, MG4 launched a new innovative car in Europe. For the automotive industry, the use of HIP technology provides multiple benefits, such as improved material properties and performance, fatigue life in high-performance materials, increased mechanical properties of the parts, densified porosities, and eliminates probable internal defects, provided by techniques such as additive manufacturing, and gives greater statistical consistency to high-performance materials. Therefore, with the growing automotive sector, the demand for isostatic pressing is increasing in Europe.

The isostatic pressing market is segmented based on offering, type, application, and geography. Based on offering, the isostatic pressing market is segmented into systems and services. Based on type, the isostatic pressing market is segmented into hot isostatic pressing (HIP), cold isostatic pressing (CIP), and warm isostatic pressing (WIP). Based on application, the isostatic pressing market is segmented into automotive, aerospace and defense, precision machine manufacturing, medical, energy and power, and others. Based on geography, the isostatic pressing market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

American Isostatic Presses Inc., Bodycote Plc, EPSI Inc., Fluitron Inc., Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, Nikkiso Co Ltd, Pressure Technology Inc., and Shanxi Golden Kaiyuan Co Ltd are among the key players operating in the isostatic pressing market.

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