Northbrook, IL 60062 -- (SBWIRE) -- 09/20/2023 -- The global Isostatic pressing market is expected to grow from USD 8.1 billion in 2023 to USD 11.7 billion by 2028, registering a CAGR of 7.6%. The isostatic pressing industry is witnessing significant growth driven by several factors, including an increasing need for intricate components, advancements in material science, emphasis on precision and quality, go for efficiency and cost-effectiveness, expanding industrial applications, technological progress, and the requirement to meet rigorous quality and performance standards. Collectively, these factors are driving the growth of isostatic pressing as it continues to meet the evolving demands of various industries.
The major players in the market are Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), Nikkiso., Ltd. (Japan), DORST Technologies GmbH & Co. KG (Germany), American Isostatic Presses, Inc (US), EPSI (US), Pressure Technology, Inc. (US), Shanxi Golden Kaiyuan Co., Ltd. (China).
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Opportunity: Growing demand for low-cost titanium and its alloys in the automotive industry
Titanium and its alloys are light in weight, corrosive resistant, and feature high strength, which makes them ideal for use in various automobile applications. The increasing focus on the light weighing of automobiles has encouraged manufacturers and designers to use titanium tubes and titanium-welded tubes. However, the cost of titanium is the main drawback associated with using this metal. Therefore, the manufacturers are looking forward to developing new innovative ways to produce low-cost titanium for different automobile applications. Hence, the HIP processes decrease the manufacturing cost of titanium alloys and other PM superalloys by ensuring lower manufacturing time and cost than conventional processes. This cost-related benefit is expected to fuel adopting HIP systems in titanium alloy manufacturing for the automotive industry and soon create lucrative opportunities for market players.
Challenge: Limited size and shape capabilities of Isostatic Pressing
Isostatic pressing is typically best suited for small to medium-sized parts. More significant parts can be difficult to manufacture using this process because it requires large equipment, which can be expensive to purchase and maintain. Isostatic pressing is best suited for parts with simple geometries. More complex shapes can be difficult to manufacture using this process. This is because the powder must be evenly distributed in the mold, which can be challenging to achieve with complex shapes. The tooling cost required for isostatic pressing can be significant, particularly for parts with complex shapes. This can make the process less cost-effective for parts with irregular shapes. The thickness of the part can also be a limiting factor for isostatic pressing. Parts that are too thick can be difficult to manufacture using this process because the powder may not be able to be evenly distributed in the mold.
Kobe Steel, Ltd.
Kobe Steel, Ltd., founded in 1905 and headquartered in Kobe, Japan, is a major global company with a strong reputation for technological expertise. It operates across various business segments, including Iron & Steel, Welding, Aluminum & Copper, Machinery, and Engineering, and has a widespread presence in Asia, Europe, and the Americas. Kobe Steel is also well-known for its comprehensive range of HIP equipment, which can handle diverse materials and shapes. It includes HIP systems that produce high-density, high-performance materials such as ceramics, metals, and alloys. Additionally, the company provides a range of HIP furnaces, including cold-wall type, hot-wall type, and combination types.
Bodycote is a well-known global thermal processing service provider founded in 1923 and headquartered in Macclesfield, UK. The company has expanded its operations to over 180 locations across more than 20 countries and is now a key player.
Bodycote offers various thermal processing services to various industries, including aerospace, automotive, energy, medical, and general engineering. These services include surface technology, heat treatment, and brazing, all of which help improve the performance and durability of materials used in these sectors.
Kennametal is a leading industrial technology company headquartered in Pittsburgh, Pennsylvania, serving various aerospace, automotive, construction, energy, and industrial sectors. The company operates through multiple business segments, including Industrial, Infrastructure, and WIDIA. It offers an extensive range of industrial products and solutions, such as cutting tools, tooling systems, wear-resistant products, and engineered components.
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The robust growth of the isostatic pressing market in the Asia-Pacific region can be attributed to several key factors. These include the rapid pace of industrialization, new markets, technological advancements, the expanding automotive and aerospace sectors, the growth of electronics manufacturing, supportive government policies, and the increasing emphasis on energy and environmental technologies. Moreover, the increase in demand for low-cost and reliable metal and ceramic products for various applications and rising preference for custom implants (in medical applications) due to better and more efficient recovery are expected to propel the demand for isostatic pressing in the region. The major markets in APAC are Japan and China. India has high growth potential for isostatic pressing products and service providers and is also the fastest-growing market in APAC. The leading players in the isostatic pressing market in APAC are Kobe Steel, Ltd. (Japan), Bodycote (UK), Kennametal, Inc. (US), and Nikkiso., Ltd. (Japan).