Dublin, Oct. 24, 2018 (GLOBE NEWSWIRE) -- The "Isostatic Pressing Market by Offering (Systems and Services), Type, HIP Capacity, CIP Process Type, Application (Automotive, Aerospace & Defense, Medical, Precision Machine Manufacturing, Energy & Power), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The isostatic pressing market is expected to reach USD 9.22 billion by 2023 from USD 6.25 billion in 2018 at a CAGR of 8.08%
Major factors driving the growth of the isostatic pressing market include growing demand for high-density and low-porosity materials in 3D printed parts; growing tendency to develop low-cost products with shorter cycle times; and increasing demand for combining HIP with other heat treatment processes. However, the high initial cost of the isostatic press acts as a restraint for the isostatic pressing market growth.
Hot isostatic pressing held a larger share of the overall isostatic pressing market in 2017. The HIP systems benefit by reducing scrap and improving yield when incorporated as an integral part of the manufacturing process; the deployment of these systems frequently allow the replacement of wrought components by castings, reduce quality assurance requirements by improving material properties and reducing property scatter, and maximize material utilization by improving material properties. The processed parts exhibit higher reliability and longer service life.
The HIP market for large-sized HIP is expected to grow at the highest CAGR during the forecast period. These 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. 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 machine manufacturing.
The applications in the precision machine manufacturing industry held the largest size of the HIP market in 2017. The factors driving the growth of the market for this segment include the increasing demand for HIP to manufacture a wide range of products such as aluminum castings for machinery and heavy equipment. Moreover, HIP systems are used to remove porosity and increase the strength of these machines as well as to provide a smoother surface for improved sealing and finishing properties such as wear resistance and corrosion resistance.
North America is projected to account for the largest share of the hot isostatic pressing market by 2023. The largest share of this region is attributed to the increase in 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 densify a wide variety of industrial components with the elimination of internal porosity. Additionally, American Isostatic Presses, Pressure Technology, Synertech PM, The Engineered Precision Casting Co. (EPCO), Kittyhawk Products, and Quad City Manufacturing Laboratory are a few major HIP players in North America.
Dominant players in the isostatic pressing market include Kobe Steel (Japan), Bodycote (UK), Kennametal (US), Arconic (US), Nikkiso (Japan), American Isostatic Presses (API) (US), Engineered Pressure Systems (EPSI) (Belgium), Pressure Technology (US), Shanxi Golden Kaiyuan (SXKYYC) (China), and Fluitron (US). These players have adopted various strategies such as acquisitions, expansions, partnerships, and collaborations to grow in the isostatic pressing market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Hot Isostatic Pressing Market
4.2 Attractive Opportunities in Cold Isostatic Pressing System Market
4.3 Hot Isostatic Pressing Market, By Application and Country, 2018
4.4 Cold Isostatic Pressing System Market, By Application and Country, 2018
4.5 Hot Isostatic Pressing Market, By Application, 2018-2023
4.6 Cold Isostatic Pressing System Market, By Application, 2018-2023
4.7 Hot Isostatic Pressing Market, By Region, 2018-2023
4.8 Cold Isostatic Pressing System Market, By Region, 2018-2023
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for High-Density and Low-Porosity Materials in 3D Printed Parts
5.2.1.2 Growing Tendency to Develop Low-Cost Products With Shorter Cycle Times
5.2.1.3 Increasing Demand for Combining HIP With Other Heat Treatment Processes
5.2.2 Restraints
5.2.2.1 High Initial Cost of Isostatic Press
5.2.3 Opportunities
5.2.3.1 Growing Investments By Aerospace and Defense Players in Installation of HIP Units
5.2.3.2 Growing Need for Low-Cost Titanium and Its Alloys in Automotive Applications
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce to Operate Isostatic Pressing Equipment
6 Isostatic Pressing Market, By Offering
6.1 Introduction
6.2 Systems
6.3 Services
7 Isostatic Pressing Market, By Type
7.1 Introduction
7.2 Hot Isostatic Pressing
7.3 Cold Isostatic Pressing
8 Hot Isostatic Pressing System Market, By Capacity
8.1 Introduction
8.2 Small-Sized HIP
8.3 Medium-Sized HIP
8.4 Large-Sized HIP
9 Cold Isostatic Pressing System Market, By Process Type
9.1 Introduction
9.2 Wet Bag Pressing
9.3 Dry Bag Pressing
10 Hot Isostatic Pressing Market, By Application
10.1 Introduction
10.2 Automotive
10.3 Aerospace & Defense
10.4 Medical
10.5 Energy & Power
10.6 Electronics & Semiconductor
10.7 Precision Machine Manufacturing
10.8 Research & Development
10.9 Others
11 Cold Isostatic Pressing System Market, By Application
11.1 Introduction
11.2 Automotive
11.3 Aerospace & Defense
11.4 Medical
11.5 Energy & Power
11.6 Electronics & Semiconductor
11.7 Precision Machine Manufacturing
11.8 Research & Development
11.9 Transportation & Logistics
12 Geographic Analysis of Hot Isostatic Pressing Market
13 Geographic Analysis of Cold Isostatic Pressing System Market
14 Competitive Landscape
14.1 Overview
14.2 Market Ranking Analysis: Isostatic Pressing Market
14.3 Competitive Situation & Trends
14.3.1 Agreements, Contracts, Collaborations, and Mergers
14.3.2 Acquisitions
15 Company Profiles
15.1 Introduction
15.2 Key Players
15.2.1 Kobe Steel
15.2.2 Bodycote
15.2.3 Kennametal
15.2.4 Arconic
15.2.5 Nikkiso
15.2.6 American Isostatic Presses (AIP)
15.2.7 Engineered Pressure Systems (EPSI)
15.2.8 Pressure Technology
15.2.9 Shanxi Golden Kaiyuan
15.2.10 Fluitron
15.3 Other Prominent Players
15.3.1 Sandvik Powder Solutions AB
15.3.2 Crystal Technologies
15.3.3 Insmart Systems
15.3.4 Tianjin Taipingyang Mecha-Electronic Technique & Equipment
15.3.5 Abra Fluid
15.3.6 Frey & Co.
15.3.7 Dorst Technologies
15.3.8 Kittyhawk Products
15.3.9 Ilshin Autoclave
15.3.10 Quad City Manufacturing Laboratory (QCML)
For more information about this report visit https://www.researchandmarkets.com/research/td9shb/isostatic?w=12
Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Industrial Machinery