Isostatic Pressing Market With Covid-19 Impact Analysis - Global Forecast To 2026

By Author: Steve Stark
Total Articles: 138
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The global isostatic pressing market size was valued at USD 7.3 billion in 2021 and is projected to reach USD 11.0 billion by 2026. It is expected to grow at a CAGR of 8.5% during the forecast period. Growing demand for materials with high intensity and low porosity in 3D printing, increasing focus on development of low-cost products and reducing manufacturing cycle time, and growing emphasis on combination of hot isostatic pressing (HIP) with other heat treatment processes are the key driving factors for the isostatic pressing market.

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Impact of COVID-19 on Isostatic Pressing Market

Currently, the world is battling an economic crisis caused by the outbreak and widespread of the COVID-19 pandemic. The pandemic has affected various industries, such as automotive, medical, aerospace & defense, manufacturing, and logistics. In the wake of the current situation, the key market players are presently focusing on maintaining and generating revenues to be operational. This had reduced the number of developments, including ...
... products launches and their distribution in the isostatic pressing market in 2020. A number of scheduled product launches and related developments have been postponed owing to the spread of the virus. However, the impact of COVID-19 is expected to subside during the forecast period.

“Isostatic pressing services to witness a higher CAGR during the forecast period.”

Currently, the services market pertaining to isostatic pressing is gaining traction, with the increasing applications of isostatic pressing systems in the automotive, manufacturing, energy & power, and medical industries. To improve the quality and reliability of components and configurations, isostatic pressing systems are regularly inspected to detect discontinuities, defects, or any other faults, which might reduce their operational reliability and lead to failures. Moreover, The growth of the services segment can be attributed to the growing need for high-density materials with long product lifecycles in various industries.

“Hot isostatic pressing (HIP) to account for the largest share during the forecast period.”

The HIP system is a combination of the conventional HIP cycles with other heat treatment processes; these systems increase productivity and enhance process efficiency, owing to which their application in the powder metallurgy processes is increasing across the globe. Additionally, HIP-based processes play a vital role in the development of complex parts, such as spheres, valves, pipes, and rods, according to the requirements of various industries. Moreover, HIP is used as a part of the powder metrology process for pressure-assisted brazing and fabrication of metal matrix composites. Manufacturing companies are installing HIPs to improve their working efficiency, due to all these factors hot isostatic pressing (HIP) is expected to hold the largest share of the market during the forecast period.

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“Medical end-user industry to witness a higher CAGR during the forecast period.”

The medical industry has witnessed a positive impact of the COVID-19 pandemic. The industry has undergone massive innovation. Besides, people’s behavior toward their health has changed, and they have started taking measures to ensure good health. Thus, the demand for innovative equipment has increased to improve the efficiency of medical practitioners. The players in the medical industry are continuously adopting new technologies such as additive manufacturing or 3D printing in a wide range of applications. CIP is used to consolidate the 3D-printed parts; apart from this, its applications mainly include the consolidation of ceramic powders and other fine or advanced grades of ceramics used in the dental and medical sectors.

“North America to account for the largest share during 2021–2026.”

North America is one of the largest producers of powder metallurgy (PM) products worldwide. Additionally, the region continues to play a vital role in advanced semiconductor manufacturing and system design. The increasing number of government initiatives pertaining to investments in the technology-driven industries and technological innovations in the aerospace & defense sector have increased the need for densified, reliable, and long-lasting products. These factors have led to the high penetration of products manufactured by isostatic pressing in various industries, such as automotive, aerospace & defense, and semiconductor & electronics, in this region.

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