PUBLISHER: The Insight Partners | PRODUCT CODE: 1562282
PUBLISHER: The Insight Partners | PRODUCT CODE: 1562282
The South & Central America isostatic pressing market was valued at US$ 115.28 million in 2022 and is expected to reach US$ 157.00 million by 2030; it is estimated to register a CAGR of 3.9% from 2022 to 2030.
Increasing Technological Advancement Fuels South & Central America Isostatic Pressing Market
Technological advancements contribute to the development of new and advanced materials. Isostatic pressing can capitalize on these innovations to shape and consolidate materials with enhanced properties. Emerging materials, such as metal matrix composites or advanced ceramics, can be efficiently processed using isostatic pressing to create components with improved strength, wear resistance, and thermal stability. The integration of Industry 4.0 technologies, such as IoT sensors and real-time monitoring, into isostatic pressing equipment enhances process control, efficiency, and predictive maintenance. Smart isostatic pressing machines equipped with sensors can monitor variables such as pressure and temperature, allowing for real-time adjustments and minimizing downtime. Also, the concept of digital twins, creating virtual replicas of isostatic pressing processes, enables simulation and optimization. This contributes to improved efficiency and product quality. By creating a digital twin of the isostatic pressing process, manufacturers can analyze and optimize parameters without physical trials, reducing development time and costs. Advances in precision engineering and automation contribute to increased accuracy and repeatability in isostatic pressing processes, ensuring consistent quality in shaped components. Automated loading and unloading systems combined with precision control mechanisms enhance the accuracy of shaping materials during the isostatic pressing process. Technological advancements in tooling and die design enhance the capabilities of isostatic pressing, allowing for the production of components with complex shapes and intricate details. Advanced die designs with improved cooling mechanisms can optimize the shaping process and enable the production of high-quality components. Hence, increasing technological advancement is an opportunity for the isostatic pressing market.
South & Central America Isostatic Pressing Market Overview
South & Central America has been experiencing significant growth in its industrial sector. Industries such as energy and power are dominant in the region. According to the International Association of Oil & Gas Producers, the total energy supply in the region was 26,912,417 TJ in 2021. Also, the wind energy industry is growing significantly in SAM. According to the Global Wind Energy Council, 3.7 GW of onshore wind was installed in the region in 2019, with 51% by Brazil, 25% by Mexico, and 13% by Argentina. In total, there is close to 26 GW of onshore wind installed in Latin America, with 57% in Brazil and 19% in Mexico. Isostatic pressing is involved in shaping components for energy storage systems, including batteries and capacitors. Components manufactured through isostatic pressing can offer improved structural integrity and reliability, contributing to the efficiency and performance of energy storage systems in power grids. Therefore, the demand for isostatic pressing is increasing in South America, with the growing energy & power sector.
South & Central America Isostatic Pressing Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Isostatic Pressing Market Segmentation
The South & Central America isostatic pressing market is categorized into offering, type, application, and country.
Based on offering, the South & Central America isostatic pressing market is bifurcated into systems and services. The systems segment held a larger market share in 2022.
In terms of type, the South & Central America 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 the largest market share in 2022. 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.
Based on application, the South & Central America isostatic pressing market is segmented into automotive, aerospace and defense, precision machine manufacturing, medical, energy and power, and others. The automotive segment held the largest market share in 2022.
By country, the South & Central America isostatic pressing market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America isostatic pressing market share in 2022.
Hiperbaric USA Corp, Kennametal Inc., Kobe Steel Ltd, and Nikkiso Co Ltd are some of the leading companies operating in the South & Central America isostatic pressing market.