The Asia Pacific Isostatic Pressing Market would witness market growth of 8.5% CAGR during the forecast period (2023-2030).
The effectiveness and efficiency of the process have been greatly increased by the introduction of cutting-edge HIP systems. Higher pressures can be applied by advanced HIP machines, frequently in excess of 145,000 PSI, which improves material density and decreases absorbency. Components with improved mechanical qualities can now be produced owing to this development. Since isostatic pressing entails sintering and compacting metal powders to produce finished goods, it is a crucial component of powder metallurgy.
In recent years, considerable expansion has been observed in the aerospace and defense sectors. For example, the International Trade Administration reports that on December 24, 2022, Japan's Cabinet authorized a record 6.82 trillion-yen budget for defense for the fiscal year 202. The Japanese Ministry of Defense also intends to invest significantly in the technology-related research and development of defensive apparatus, particularly stand-off defense capabilities.
Asia Pacific is expected to have faster growth because higher investments are being made in developing the semiconductor industry in countries like China and India, which stimulates market expansion. Taiwan, a major force in the semiconductor manufacturing industry, is investing in increasing its capacity. In the next three years, Taiwan Semiconductor Manufacturing Company (TSMC), for instance, plans to dramatically boost its production capacity. The regional market is expanding due to the government's increased investments in manufacturing and promoting semiconductor use and manufacture.
The China market dominated the Asia Pacific Isostatic Pressing Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,108.7 million by 2030. The Japan market is poised to grow at a CAGR of 7.8% during (2023 - 2030). Additionally, The India market would experience a CAGR of 9.1% during (2023 - 2030).
Based on Type, the market is segmented into Hot (Large-Sized Pressing, Medium-Sized Pressing, and Small-Sized Pressing), and Cold (Dry-Bag Pressing, and Wet-Bag Pressing). Based on Offering, the market is segmented into Solution, and Services. Based on Industry, the market is segmented into Precision Machine Manufacturing, Automotive, Aerospace & Defense, Electronics & Semiconductor, Energy & Power, Research & Development, Medical, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Isostatic Pressing Market is Projected to reach USD 13.1 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kobe Steel, Ltd., Bodycote plc, Kennametal Inc., Nikkiso Co., Ltd, Dorst Technologies GmbH & Co. KG, American Isostatic Presses, Inc., EPSI International, Pressure Technology, Inc., Shanxi Golden Kaiyuan Co., Ltd., and MTC Powder Solutions AB (Metal Technology Co. Ltd.)
By Type
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