1. Introduction of Hot Isostatic Pressing Market Applications
Aerospace: The aerospace industry encompasses the manufacture of a wide range of aircraft and spacecraft products (including passenger and military airplanes, helicopters, and gliders, as well as spacecraft, launch vehicles, satellites, and other space-related items). Hot Isostatic Pressing can be used to process parts in this field.
Medical: Medicine is the field of health and healing. It includes nurses, doctors, and various specialists. It covers diagnosis, treatment, and prevention of disease, medical research, and many other aspects of health. This refers to Hot Isostatic Pressing being used in the processing and manufacturing of medical-related equipment and parts.
Industrial: Industrial refers to the processing and manufacturing of Hot Isostatic Pressing for Industrial-related equipment and parts. Such as nuclear equipment parts, machine tool equipment parts, etc.
Others: Others include research institutions, university laboratories, etc.
2. Global Hot Isostatic Pressing Market Consumption and Share Analysis by Application
In 2018, the value of Hot Isostatic Pressing consumption in the aerospace sector was $258.50 million, which grew to $396.72 million in 2023. Consumer value in this segment showed a steady growth trend throughout the analysis period, reflecting the continued demand for high-performance materials and components in the aerospace industry, particularly in aircraft and spacecraft manufacturing.
The value of Hot Isostatic Pressing consumption in the medical sector increased from $88.73 million in 2018 to $137.45 million in 2023. This growth shows that with the advancement of medical technology and the increasing demand for high-precision medical devices, Hot Isostatic Pressing technology is becoming more widely used in the medical field, especially in the manufacture of artificial joints, dental implants, and other medical devices.
The value of Hot Isostatic Pressing consumption in the industrial sector increased from $220.16 million in 2018 to $331.14 million in 2023. The growth in this area demonstrates the growing importance of Hot Isostatic Pressing technology in industrial applications, especially in the manufacture of durable and high-performance industrial components such as nuclear equipment components and machine tool equipment components.
Table Global Hot Isostatic Pressing Consumption Value (Million USD) by Application (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Aerospace | 258.50 | 294.18 | 275.31 | 316.77 | 355.23 | 396.72 |
Medical | 88.73 | 100.42 | 93.02 | 106.51 | 121.74 | 137.45 |
Industrial | 220.16 | 246.15 | 229.59 | 262.58 | 296.54 | 331.14 |
Others | 56.26 | 61.86 | 58.61 | 65.20 | 71.32 | 77.98 |
Total | 623.65 | 702.62 | 656.53 | 751.07 | 844.83 | 943.29 |
The aerospace segment holds the largest share of the global Hot Isostatic Pressing market. In 2018, the market share in this segment was 41.45% and remained relatively stable throughout the analysis period, decreasing slightly to 42.06% in 2023.
The market share of the medical sector has gradually increased from 14.23% in 2018 to 14.57% in 2023.
The market share of the industrial sector was 35.30% in 2018 and remained relatively stable in subsequent years, decreasing slightly to 35.10% in 2023
The market share of other segments, including research institutes, university laboratories, etc., has gradually decreased from 9.02% in 2018 to 8.27% in 2023. Despite its relatively small market share in this segment, it remains an important component of the Hot Isostatic Pressing market, especially in the field of new materials R&D and education.
Table Global Hot Isostatic Pressing Value Market Share by Application (2018-2023)
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Aerospace | 41.45% | 41.87% | 41.93% | 42.18% | 42.05% | 42.06% |
Medical | 14.23% | 14.29% | 14.17% | 14.18% | 14.41% | 14.57% |
Industrial | 35.30% | 35.03% | 34.97% | 34.96% | 35.10% | 35.10% |
Others | 9.02% | 8.80% | 8.93% | 8.68% | 8.44% | 8.27% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
