The isostatic pressing market is
expected to reach USD 9.22 billion by 2023, at a CAGR of 8.08% during the
forecast period. The growth in this market is fueled by the growing demand for
high-density and low-porosity materials in 3D printed parts, growing tendency
to develop low-cost products with shorter cycle times, and increasing demand
for combining hot isostatic pressing with other heat treatment processes. The
growing investment by aerospace and defense players in the installation of HIP
units is a key opportunity for the growth of the isostatic pressing market
players.
Hot
Isostatic pressing market for medical to grow at highest CAGR during the
forecast period
The
hot isostatic pressing market for the applications in the medical segment is
expected to grow at the highest CAGR during the forecast period. In the medical
industry, HIP is used to improve the properties of various materials used in
this industry—such as cast cobalt chrome, titanium, and stainless-steel
implants—and dental brackets. This contributes to the growth of the market for
the HIP market for medical during the forecast period.
By process type in the CIP system market,
dry bag pressing to hold the largest market share during the forecast period
The
larger share of this segment is attributed to the availability of fully
automated dry bag systems that are operated using computerized controls and
user-friendly software. This is a faster method of isostatic processing of
production components compared to the wet bag pressing.
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APAC
is estimated to grow at the highest CAGR during the forecast period
APAC
is expected to be the fastest-growing market for cold isostatic pressing during
2018–2023, and it holds a tremendous market potential for the coming future.
The market in APAC mainly consists of developing economies such as China and
India, which have a huge potential in terms of the CIP applications. Some of the
major drivers for the spurring demand of CIP in APAC include an increase in
demand for low-cost and reliable metal as well as ceramics products for various
applications, rising preference toward custom implants (in medical
applications) due to better and efficient recovery, and a growing number of
dental restoration surgeries.
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