At 4.6% CAGR, Middle East & Africa Isostatic Pressing Market is Projected to be Worth US$ 496.07 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa isostatic pressing market was valued at US$ 346.68 million in 2022 and is projected to reach US$ 496.07 million by 2030, registering a CAGR of 4.6% from 2022 to 2030. Growing industrialization and expanding aerospace and defense sector are among the critical factors attributed to drive the Middle East & Africa isostatic pressing market growth.

Growing industrialization has led to a heightened demand for advanced materials with specific properties such as enhanced strength, wear resistance, and thermal stability. Isostatic pressing is a key manufacturing process for shaping and consolidating these materials. In the aerospace industry, where components require high strength and lightweight properties, isostatic pressing is used to manufacture intricate parts from advanced materials such as titanium, alloys, and ceramics. Industrialization has driven the adoption of powder metallurgy techniques, and isostatic pressing is integral to this process. It allows for efficient shaping and consolidation of metal powders to produce high-performance components. For example, in automotive manufacturing, isostatic pressing is utilized to shape and consolidate metal powders for producing components such as gears, bushings, and connecting rods with superior mechanical properties. As industries become more specialized, there is an increasing need for precision and consistency in the production of components. Isostatic pressing ensures uniform density and accurate shaping, meeting stringent quality requirements. In the medical sector, isostatic pressing is employed to manufacture precise and consistent components such as dental implants and prosthetics, where accuracy is crucial for optimal performance. A combination of factors, including government policy, entrepreneurial ambitions, and labor-saving inventions, can drive industrialization. In July 2022, several Middle Eastern countries, chiefly in the GCC, launched ambitious programs to diversify and grow their manufacturing. These countries seek to meet regional and national demand and position themselves as export platforms. Thus, the growing industrialization is driving the isostatic pressing market by creating demand for advanced materials, precision-manufactured components, efficient powder metallurgy, metal matrix composites, and supporting additive manufacturing.

On the contrary, high initial investment hampers the growth of Middle East & Africa isostatic pressing market.

Based on offering, the Middle East & Africa isostatic pressing market is bifurcated into systems and services. The systems segment held 78.5% market share in 2022, amassing US$ 272.13 million. It is projected to garner US$ 399.19 million by 2030 to register 4.9% CAGR during 2022-2030.

In terms of type, the Middle East & Africa 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 60.0% share of Middle East & Africa isostatic pressing market in 2022, amassing US$ 207.84 million. It is anticipated to garner US$ 309.12 million by 2030 to expand at 5.1% 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.

By application, the Middle East & Africa isostatic pressing market is segmented into automotive, aerospace and defense, precision machine manufacturing, medical, energy and power, and others. The others segment held 25.4% market share in 2022, amassing US$ 88.16 million. It is projected to garner US$ 135.95 million by 2030 to register 5.6% CAGR during 2022-2030.

Based on country, the Middle East & Africa isostatic pressing market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 41.6% share of Middle East & Africa isostatic pressing market in 2022. It was assessed at US$ 144.10 million in 2022 and is likely to hit US$ 215.66 million by 2030, registering a CAGR of 5.2% during 2022-2030.

Key players operating in the Middle East & Africa isostatic pressing market are Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, and Nikkiso Co Ltd, among others.

• In May 2023, Quintus Technologies, a subsidiary of Kobe Steel Ltd, has recently introduced a new product called the Purus Toolbox for Hot Isostatic Pressing (HIP). This innovative toolbox is designed to enhance the capabilities and efficiency of the hot isostatic pressing process. The Purus Toolbox for HIP is a comprehensive solution that combines software, hardware, and process expertise to optimize the HIP process. It offers advanced features such as real-time monitoring and control, data analysis, and process simulation. These capabilities enable manufacturers to achieve higher productivity, reduce costs, and improve the quality of the final products.
  
  

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