Portland.OR, May 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global isostatic pressing market was accounted for $5.81 billion in 2019, and is estimated to reach $7.97 billion by 2027, growing at a CAGR of 6.0% from 2020 to 2027.
Rise in demand for HIP and other heat treatment processes, increase in demand for products with short development cycles, and surge in need for additive manufacturing techniques have boosted the growth of the global isostatic pressing market. However, high initial investment hinders the market growth. On the contrary, rise in demand for low-cost titanium alloys in the automotive sector and low-cost medical applications in the healthcare industry is expected to open lucrative opportunities for the market players in the future.
Get Instant Access – Download Free Sample Report: https://www.alliedmarketresearch.com/request-sample/5912
Covid-19 scenario:
- The pandemic severely hampered the production and manufacturing sectors. Moreover, the international travel ban kept the workers out of their factories. This affected the market growth.
- Automotive, aerospace, and healthcare are the worst-hit industries during the pandemic. Moreover, as the second wave hits the Asian countries, the isostatic pressing market is estimated to witness a setback.
The global isostatic pressing market is segmented on the basis of offering, type, HIP Capacity, CIP process type, application, and region.
Based on offering, the systems segment dominated the market in 2019, accounting for more than four-fifths of the market. However, the services segment is estimated to register the highest CAGR of 8.8% during the forecast period.
Get detailed COVID-19 impact analysis on the Isostatic Pressing Market: https://www.alliedmarketresearch.com/request-for-customization/5912?reqfor=covid
On the basis of application, the aerospace & defense segment held the largest share in 2019, contributing to more than one-fourth of the market. However, the automotive segment is projected to manifest the highest CAGR of 7.6% during the forecast period.
The global isostatic pressing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2019, accounting for around one-third of the market. However, the Asia-Pacific is estimated to portray the highest CAGR of 7.7% during the forecast period.
Enquire For More: https://www.alliedmarketresearch.com/purchase-enquiry/5912
The global isostatic pressing market report includes an in-depth analysis of the prime market players such as DORST Technologies GmbH & Co.KG, American Isostatic Presses (API), Engineered Pressure Systems (EPSI), Bodycote PLC, Kobe Steel, Ltd., Fluitron, Inc., Pressure Technology, Inc., Nikkiso Co. Ltd., and Shanxi Golden Kaiyuan Co. Ltd.
Access Avenue (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/Avenue-Membership-details
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.