Isostatic Pressing Market- Snapshot
Isostatic pressing plays a crucial role to improve the potential workability and mechanical properties of different materials. It is primarily used to diffuse bonding, consolidate powders, and eliminate micro shrinkage in castings. The isostatic pressing is divided into two parts – hot isostatic pressing and cold isostatic pressing. The isostatic pressing market is expected to fuel by growing demand for heat treatment procedures and developing economical products with a shorter cycle. Requirement for materials with low-porosity and high-density in 3D printed parts also fuel growth in the isostatic pressing market. The pressing is commonly used in aerospace and defense, healthcare, and automotive industries and boosts growth in the isostatic pressing market. The aerospace and defense market uses the process for HIP units installation and drives in the isostatic pressing market. A completely automated dry bag system has the largest share of the segment. It is operated with user-friendly software and while using computerized controls. In comparison with wet bag pressing, isostatic pressing is a faster method. Hot isostatic pressing is widely applied in the medical industry. The HIP is used for the improvement of different materials that are used in the medical industry inclusive of stainless-steel implants, titanium, and cast cobalt chrome. So, it increases the value in the isostatic processing system.
The isostatic pressing that is used for manufacturing different components and materials, casting, and densification, is an expensive process. There is an increased demand for skilled technicians for the process implementation in the isostatic pressing market. Multiple industries have a shortage of proficient engineers and maintenance teams and create hurdles in the growth in the isostatic pressing market. Along with these physical capabilities, the transfer of knowledge from experienced engineers to the new generation is crucial. So it adds to the expenditure of the company and creates problems in the isostatic pressing market. The lack of expertise among technical professionals from countries across the globe also put an adverse impact on the growth in the isostatic pressing market.
Isostatic Pressing Market- Introduction
Isostatic pressing is the powder metallurgy forming process which applies equal pressure on the product regardless of the shape and size in all the directions to achieve maximum uniformity for microstructure and density. Isostatic pressing includes hot isostatic pressing and cold isostatic pressing. Cold isostatic pressing is material processing method used to compact green parts. While hot isostatic pressing is used to increase density of ceramic metals and reduce porosity of the metals.
Offering a range of advantages in manufacturing process with regards to precision forming, better material properties, and cost reduction by eliminating machining process. Some of the common applications of isostatic pressing are explosives, chemicals, food, pharmaceuticals, and nuclear fuel ferrites. The ability to form product shapes and reduce the use of expensive machining is one of the major driving forces for the use of isostatic pressing.
Isostatic Pressing Market- Notable Highlights
Some of the most prominent competitors operating in the competitive landscape of global isostatic pressing market include –
Isostatic Pressing Market Dynamics
Increasing Use of Additive Manufacturing Technique Driving Isostatic Pressing Market
Increasing use of various processes under additive manufacturing including rapid prototyping, 3D printing, and powder metallurgy across wide range of industries is accelerating the use of isostatic pressing. Hot isostatic pressing is being used as the final step in various additive manufacturing processes in order to consolidate the formed product by the solid state diffusion.
Additive manufacturing is finding wide application in the research and development sector and in various industries such as aerospace, automotive, and medical device manufacturing due to the ability to produce components in these industries at low cost and in less time. This is leading to the growing demand for hot isostatic pressing which improves yield when used as an integral part of the manufacturing process.
Growing Adoption of Hot Isostatic Pressing Process in Automotive Industry
The hot isostatic pressing process is being largely adopted in the automotive industry in order to reduce the manufacturing cost of titanium alloys and other super-alloys. The hot isostatic pressing process leads to less manufacturing time along with the reduced cost as compared to other conventional processes. The time and cost benefit are driving the demand for hot isostatic pressing process in automotive industry.
The hot isostatic pressing is used largely in the development of automotive engine components. Moreover, producing multiple diffusion bonds, hot isostatic pressing process and cladding is used to coat materials with superior properties, such as wear resistance, corrosion resistance into more economical substrate, in order to design parts and components cost-effectively. The demand for hot isostatic pressed components is likely to find wide application in automotive industry in the coming years with increasing use of 3D printing technology in automotive component manufacturing.
High Initial Cost of Isostatic Pressing to Restrain Isostatic Pressing Market Growth
Isostatic pressing is largely used across industries to achieve high compact densities and get access to the shapes that cannot be obtained using other pressing techniques. The wet bag and dry bag processes are used in production of components, offering efficiency and high compact densities. However, both wet and dry type of isostatic pressing the tooling cost and complexity is higher than other pressing processes.
In recent years, the use of hot isostatic pressing has increased across industries, however, hot isostatic pressing is very expensive due to the high equipment cost. Meanwhile, manufacturers are focusing on offering better properties that are unique to the process required in the application, thereby, justifying extra cost.
Isostatic Pressing Market Segmentation
Based on type, the isostatic pressing market is segmented into
Based on the offering, the isostatic pressing market is segmented into
Based on application, the isostatic pressing market is segmented into
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