Global Isostatic Pressing Market to Garner $7.97 Billion by 2027

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Isostatic Pressing Market

PORTLAND, OREGON, UNITED STATES, August 27, 2021 /EINPresswire.com / -- As per the report published by Allied market Research, titled, "Isostatic Pressing Market by Offering (Services and Systems), Type (Hot Isostatic Pressing and Cold Isostatic Pressing), HIP Capacity (Small-Sized HIP, Medium-Sized HIP, and Large-Sized HIP), CIP Process Type (Dry-Bag Pressing and Wet-Bag Pressing), Application (Automotive, Aerospace & Defense, Medical, Precision Machine Manufacturing, Energy & Power, and Others): Opportunity Analysis and Industry Forecast, 2020–2027," the global isostatic pressing market was accounted for $5.81 billion in 2019, and is estimated to reach $7.97 billion by 2027, growing at a CAGR of 6.0% from 2020 to 2027.

Rise in demand for HIP and other heat treatment processes, increase in demand for products with short development cycles, and surge in need for additive manufacturing techniques have boosted the growth of the global isostatic pressing market. However, high initial investment hinders the market growth. On the contrary, rise in demand for low-cost titanium alloys in the automotive sector and low-cost medical applications in the healthcare industry is expected to open lucrative opportunities for the market players in the future.

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Covid-19 scenario:

The pandemic severely hampered the production and manufacturing sectors. Moreover, the international travel ban kept the workers out of their factories. This affected the market growth.
Automotive, aerospace, and healthcare are the worst-hit industries during the pandemic. Moreover, as the second wave hits the Asian countries, the isostatic pressing market is estimated to witness a setback.

The global isostatic pressing market is segmented on the basis of offering, type, HIP Capacity, CIP process type, application, and region.

Based on offering, the systems segment dominated the market in 2019, accounting for more than four-fifths of the market. However, the services segment is estimated to register the highest CAGR of 8.8% during the forecast period.

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The global isostatic pressing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2019, accounting for around one-third of the market . However, the Asia-Pacific is estimated to portray the highest CAGR of 7.7% during the forecast period.

On the basis of application, the aerospace & defense segment held the largest share in 2019, contributing to more than one-fourth of the market. However, the automotive segment is projected to manifest the highest CAGR of 7.6% during the forecast period.

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The global isostatic pressing market report includes an in-depth analysis of the prime market players such as DORST Technologies GmbH & Co.KG, American Isostatic Presses (API), Engineered Pressure Systems (EPSI), Bodycote PLC, Kobe Steel, Ltd., Fluitron, Inc., Pressure Technology, Inc., Nikkiso Co. Ltd., and Shanxi Golden Kaiyuan Co. Ltd.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Analytics LLP
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