At 8.7% CAGR, Asia Pacific Isostatic Pressing Market is Projected to be Worth US$ 5,017.83 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific isostatic pressing market was valued at US$ 2,580.99 million in 2022 and is projected to reach US$ 5,017.83 million by 2030, registering a CAGR of 8.7% from 2022 to 2030. Growing industrialization and expanding aerospace and defense sector are among the critical factors attributed to drive the Asia Pacific isostatic pressing market growth.

The aerospace & defense sectors are expanding significantly globally. The aircraft manufacturing industry has been under constant pressure from the commercial aviation sector to deliver the required volumes of aircraft fleets of various models. According to Boeing and Airbus forecasts, more than 24,000 commercial aircraft will be delivered by the end of 2041. This is expected to bolster the demand for new aircraft engines along with next-generation digital ignition systems. The aircraft deliveries by different aircraft OEMs such as Boeing, Airbus, Lockheed Martin, Bombardier, and ATR are constantly boosting their respective production capacities to reduce the increasing backlogs from their respective pipelines, which in turn is generating demand for aircraft engines. The increase in aircraft production will lead to an increase in the demand for isostatic pressing technique. Modern aircraft designs involve intricate and complex components. Isostatic pressing allows for the manufacturing of parts with complex geometries, ensuring precision and consistency. For example, isostatic pressing is used to produce complex-shaped components, such as structural elements and brackets for aircraft, contributing to the overall efficiency and safety of aerospace systems. Defense applications require specialized materials with precise characteristics. Isostatic pressing contributes to the production of components used in defense technologies, including radar systems and communication devices. Isostatic pressing is applied to shape components for military-grade electronic systems, where reliability and durability are critical for mission success. Thus, the expansion of the aerospace & defense sector drives the isostatic pressing market growth.

On the contrary, high initial investment hampers the growth of Asia Pacific isostatic pressing market.

Based on offering, the Asia Pacific isostatic pressing market is bifurcated into systems and services. The systems segment held 69.3% market share in 2022, amassing US$ 1,788.77 million. It is projected to garner US$ 3,618.36 million by 2030 to register 9.2% CAGR during 2022-2030.

In terms of type, the Asia Pacific isostatic pressing market is segmented into hot isostatic pressing (HIP), cold isostatic pressing (CIP), and warm isostatic pressing (WIP). The hot isostatic pressing (HIP) segment held 47.9% share of Asia Pacific isostatic pressing market in 2022, amassing US$ 1,236.49 million. It is anticipated to garner US$ 2,565.43 million by 2030 to expand at 9.6% CAGR during 2022-2030. Furthermore, the hot isostatic pressing (HIP) segment is sub segmented into large sized, medium sized, and small sized. Additionally, the cold isostatic pressing (CIP) segment is bifurcated into dry bag pressing and wet bag pressing.

Based on application, the Asia Pacific isostatic pressing market is segmented into automotive, aerospace and defense, precision machine manufacturing, medical, energy and power, and others. The automotive segment held 26.4% market share in 2022, amassing US$ 680.16 million. It is projected to garner US$ 1,580.51 million by 2030 to register 11.1% CAGR during 2022-2030.

Based on country, the Asia Pacific isostatic pressing market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 34.5% share of Asia Pacific isostatic pressing market in 2022. It was assessed at US$ 890.71 million in 2022 and is likely to hit US$ 1,923.83 million by 2030, registering a CAGR of 10.1% during 2022-2030.

Key players operating in the Asia Pacific isostatic pressing market are Bodycote Plc, EPSI Inc, Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, Nikkiso Co Ltd, and Shanxi Golden Kaiyuan Co Ltd, among others.

• In September 2023, Quintus Technologies, a subsidiary of Kobe Steel Ltd, has announced that their Cold Isostatic Press (CIP) will be integrated into the impressive range of equipment at Lingchuang Special Material Co. in China. This addition further strengthens Lingchuang's world-class equipment lineup, showcasing their commitment to utilizing cutting-edge technology in their operations. The integration of Quintus CIP will enable Lingchuang to enhance its manufacturing capabilities and offer advanced solutions to its customers in the special material industry. This collaboration highlights the mutual goal of both companies to drive innovation and meet the evolving demands of the market.
  
  

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