Isostatic Pressing Market Size, Share & Industry Report

Updated on : Oct 22, 2024

The global isostatic pressing market size is expected to be worth USD 7.6 billion in 2024 and USD 9.9 billion by 2029, growing at a 5.4% CAGR during the forecast period from 2024 to 2029.

The isostatic pressing industry is evolving because to developments such as integration with additive manufacturing, material improvements, and more automation through smart technologies. Sustainability initiatives, customisation requirements, and rapid prototyping are all critical considerations.

Some of the factors driving this market are the rising usage of HIP systems to densify 3D-printed components, a greater emphasis on combining HIP with other heat-treatment processes, and technological advancements in Cold Isostatic Pressing (CIP). Increased demand for high-strength, high-density materials in aerospace, automotive, and medical industries. Development of new materials, including advanced ceramics and composites, that benefit from isostatic pressing to achieve optimal properties.

Impact Of AI on the Isostatic Pressing Market

Artificial Intelligence (AI) in isostatic pressing is an emerging field with exciting possibilities for improving efficiency and optimizing processes. Few companies currently use AI in isostatic pressing, but it has a promising future. Artificial intelligence impacts isostatic pressing systems and connected services by helping in process efficiency, predictive maintenance, and quality control.

It optimizes factors such as pressure and temperature, forecasts equipment breakage to prevent downtimes, and detects flaws in real time to ensure quality results. AI also opens up possibilities for higher-order simulation and modeling to develop the process design and material development, which implies cost savings and higher innovation. For Instance, KOBE STEEL, LTD. Provides predictive maintenance connected to Quintus Care Web Portal to ensure the highest operational reliability and safety possible.

Attractive Opportunities in the Isostatic Pressing Market

Isostatic Pressing Market Forecast to 2029

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Isostatic Pressing Market Trends

Driver: Increasing emphasis on integrating HIP with other heat-treatment processes

The HIP and heat-treatment processes are carried out at different facilities, where the parts have to be loaded and unloaded into process vessels and shipped from one facility to another, which consumes time. There has been high awareness regarding the combination of HIP and other heat treatment processes in a single and integrated unit to help reduce energy consumption and meet the components’ delivery time.

The constant improvements in traditional HIP equipment are attributed to advanced processing options, such as rapid cooling capability and automatic processing. For instance, HIP, additive manufacturing, and spark plasma sintering processes can be used as a single unit to create high-integrity, near-net-shaped parts from metal powder while reducing processing costs and energy consumption.

Some of these combined techniques are used in the aerospace industry. However, their implementation is not yet commercialized for civil nuclear applications. The Nuclear Advanced Manufacturing Research Centre (AMRC) (UK) is planning to invest in industry-led projects to assess the potential of these processes in the civil nuclear sector. The center has designed a strategy to commercialize such promising techniques for production processes.

Restraint: High initial investment

Manufacturers of isostatic pressing systems must make a considerable initial investment due to the necessity for modern machinery, specialized technology, and high-pressure vessels. Establishing an isostatic pressing factory also incurs significant expenditures related to equipment acquisition, safety implementation, and correct training and maintenance.

This initial investment creates a barrier for prospective entrants, giving established businesses a competitive advantage. Despite the high initial costs, the long-term benefits of isostatic pressing, such as market development and the ability to meet rising demand for high-quality components, make it a worthwhile investment.

Opportunity: Growing usage of HIP in the aerospace industry

The aerospace business comprises companies that create spacecraft and commercial, military, and private aircraft. It also includes companies that make military equipment such as tanks and related vehicles, bombs, missiles, navigational and guiding systems, artillery, and other related weapons. Boeing, one of the leading aircraft manufacturers, predicts demand for over 43,000 aircraft by 2040, which will likely increase the volume of aircraft production.

Furthermore, the continuous increase in passenger travel, mainly in Asia Pacific and the Middle East, as well as the replacement of outmoded aircraft with fuel-efficient aircraft, have fuelled the commercial aviation market's recent expansion. Manufacturers have increased production at the platform level and supplier base.

The requirement for HIP processing of commercial aircraft materials is rising in the aerospace industry to ensure consistent, defect-free material characteristics and long-term, high-integrity operations. The aircraft parts and engines need to be lightweight and high in density to provide high performance; hence, HIP is deployed for processing these parts.

Moreover, the hot isostatic densification process is expected to continue to be more vital in the near future, with the increasing focus of industry players on attaining higher levels of aircraft and engine performance. These factors have increased the need to combine thermal processes with HIP to enhance material capabilities and process efficiency.

Challenge: Complex Setup and Operation in Isostatic Pressing

The intricate setup and operation of isostatic pressing necessitates high technical proficiency. Skilled technicians and engineers are required to precisely regulate multiple process parameters, guaranteeing that the desired material properties are obtained. Because a HIP system includes a pressure vessel, internal furnace, gas handling system, electrical system, and auxiliary system, highly qualified personnel are required to install and run various isostatic presses.

This includes understanding how different materials behave, running complex equipment, and troubleshooting during the process. Expertise is needed to recognize flaws, make necessary adjustments to prevent failures, and ensure equipment reliability. Most market rivals have a shortage of trained engineers and maintenance workers to support and maintain their isostatic pressing equipment.

Furthermore, the preparation time for isostatic pressing, particularly Hot Isostatic Pressing (HIP), is extensive. Preparing materials, loading pressure vessels, and accurately configuring pressure and temperature profiles are necessary. To avoid thermal shocks and defects, the HIP process progressively ramps up and down the pressure and temperature, increasing overall setup time. The gradual chilling and depressurization operations are also critical for keeping the integrity of the pressed parts, making the overall process time-consuming but important for generating high-quality goods.

Isostatic Pressing Industry Ecosystem

Isostatic Pressing Market Segementation

The hot isostatic pressing (HIP) segment accounted for the largest share of the isostatic pressing market in 2023.

The isostatic pressing market is segmented into hot isostatic pressing (HIP) and cold isostatic pressing (CIP). Hot Isostatic Pressing (HIP) dominates the isostatic pressing industry due to its broad use in aerospace, automotive, medical, and energy industries. HIP strengthens material properties through reduced porosity and increased density, which is necessary for high-performance components.

Demands for new materials, in conjunction with continued technological advances and the ability to adhere to tight industrial norms, further reinforce its position in the marketplace. Moreover, the customizability and adaptability of HIP in processing complex forms and sizes make it very attractive to businesses across a broad spectrum.

The service segment is to dominate the market throughout the forecast period.

The offering section is divided into two categories: systems and services. The isostatic pressing service category is expected to dominate the market as organizations outsource these services to save capital investment and focus on core capabilities. Service providers provide specialized experience, innovative technology, and flexible, scalable solutions at a lower cost than maintaining in-house facilities.

Furthermore, they offer a wide range of services, including hot and cold isostatic pressing, material testing, and quality assurance, which increases their appeal and market share.

The large-sized hot isostatic pressing system is to hold the largest market share in 2023.

The capacity sector is divided into three sizes: small, medium, and large. The large isostatic pressing segment dominates the market due to its critical role in producing big, high-strength components for the aerospace, automotive, and energy industries. These presses provide economies of scale, advanced capabilities, and customization choices, making them perfect for mass production and demanding applications. Technological developments have increased their efficiency and versatility, resulting in widespread application across various industries that require large-scale, high-performance components.

The medical industry will grow at the highest CAGR during the forecast period.

The medical industry is predicted to have the greatest CAGR in the isostatic pressing market, owing to rising demand for precision-engineered components in medical devices and implants. Isostatic pressing provides better material qualities essential for manufacturing high-quality medical items. In the medical field, it produces high-density ceramic components for implants and other medical devices.

It can produce ceramics with consistent properties, such as high strength, exceptional wear resistance, and biocompatibility. Medical equipment that uses ceramics made with this technology includes hip and knee joint implants, dental implants, spinal implants, and hearing aid components.

Isostatic Pressing Industry Regional Analysis

Asia Pacific region to grow at the highest CAGR during the forecast period.

The Asia Pacific region is segmented into China, Japan, South Korea, and the Rest of Asia Pacific. Asia Pacific is a major raw material manufacturing hub for consumer electronics, automotive, pharmaceuticals, and healthcare applications, representing the fastest-growing market for isostatic pressing.

This market is expected to register the highest CAGR during the forecast period. Japan and China are major markets offering isostatic pressing systems and services. The growth can be credited to increased demand for low-cost and reliable metal and ceramic products for various applications, a high preference for custom and efficient implants in medical applications, and the increasing number of dental restoration surgeries.

Isostatic Pressing Market by Region

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Top Isostatic Pressing Companies - Key Market Players

The major companies in the isostatic pressing 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), and others.

These companies have used both organic and inorganic growth strategies, such as product launches, acquisitions, and partnerships, to strengthen their position in the isostatic pressing comoanies.  

Isostatic Pressing Market Report Scope

Isostatic Pressing Market Highlights

In this report, the overall isostatic pressing market has been segmented based on Offering, Type, Capacity, Process Type,  End-use Industry and Region.

Recent Developments in Isostatic Pressing Industry

• In January 2024, Bodycote Completed the acquisition of Lake City HT, a leading hot isostatic pressing (HIP) and vacuum heat treatment business primarily supplying the orthopedic implant market and Civil Aerospace. It will significantly increase Bodycote’s customer reach in the medical market.
• In March 2020, DORST Technologies GmbH & Co. KG launched the next generation, proven dry isostatic universal powder press PI60/4 to produce rods, shafts, tubes, sleeves, and balls made of technical ceramics, hard metal, and other powdery materials.

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