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.
New York, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Isostatic Pressing Market with COVID-19 Impact Analysis by Offering, Type, HIP Capacity, CIP Process Type, End-User Industry And Geography - Global Forecast to 2026" - https://www.reportlinker.com/p05598593/?utm_source=GNW
However, requirement of high initial investment hampering the growth of the market.
Isostatic pressing services to account for the largest share during the forecast period.
The scope of the isostatic pressing services market includes casting and molding services for critical applications (casting densification, HIP/CIP cladding, and HIP brazing) and other support services.HIP services are widely used in research & development, prototype development, repair/product rejuvenation, and production runs.
Besides, technical support is provided to increase customer understanding regarding the benefits of the HIP, provide quality assurance, and help in the internal development of new products.With these services, the companies can help their customers to develop and test new products.
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, such as aerospace & defense, automotive, and medical.
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.
Manufacturing end-user industry to account for the largest share during the forecast period.
The isostatic pressing market for the manufacturing industry is expected to hold the largest market size during the forecast period, as it finds applications in different processes of the food & beverage, oil & gas, and steel industries.Besides, the technological advancements in the manufacturing industry are expected to propel the growth of the market for the manufacturing industry.
The 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. Precision manufacturing and HIP together have the potential to completely change how industries operate, allowing to cut costs at the same time increasing efficiency and tolerance of the material and providing a reliable way of producing parts.
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.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the isostatic pressing marketplace.
• By Company Type: Tier 1 - 25%, Tier 2 – 40%, and Tier 3 - 35%
• By Designation: C-Level Executives - 75% and Managers - 25%
• By Region: North America - 40%, Europe - 23%, APAC - 26%, and RoW 11%
The isostatic pressing market comprises major players such as Kobe Steel (Japan), Bodycote (UK), Kennametal (US), Arconic (US), Nikkiso (Japan), American Isostatic Presses (US), Engineered Pressure Systems (US), Pressure Technology (US), Shanixi Golden Kaiyaun (China), Fluitron (US), Sandvik Powder AB (Sweden), Insmart Systems (India), Isostatic Pressing Services (US), Frey & Co. (Germany), DORST Technologies (Germany), Aubert & Duval (France), and Aegis Technology (US). The study includes an in-depth competitive analysis of these key players in the isostatic pressing market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the isostatic pressing market based on offering, type, HIP capacity, CIP process type, end-user industry, and region.It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the isostatic pressing market.
It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall isostatic pressing market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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