1. Top 3 and Top 6 Companies in Hot Isostatic Pressing Market in 2022
In the global Hot Isostatic Pressing market, the top three and top six companies account for significant market share. Specifically, in 2022, the total market share of the top three companies in the global Hot Isostatic Pressing market was 26.08%, while the market share of other companies was 73.92%. Bodycote PLC ranked first in the Hot Isostatic Pressing market with a market share of 13.32%, Kobe Steel, Ltd. ranked second with a market share of 9.13%, and Metal Technology Co, Ltd. ranked third with a market share of 3.63%.
Further, the total market share of the top six companies is 35.16%, and the remaining market share is occupied by other companies at 64.84%. This shows that although the leading companies have a place in the global market, there is still a significant market share scattered among many other companies, showing that the competitive landscape of the Hot Isostatic Pressing market is relatively fragmented, and no single or a few companies can dominate the entire market.
Figure Global Top 3 & Top 6 Companies Market Share by Revenue
2. Analysis of Bodycote
Bodycote PLC is one of the global leaders in the Hot Isostatic Pressing market, and its revenue and gross profit data for the period 2018 to 2023 shows the company’s financial health and market performance. From 2018 to 2023, Bodycote PLC’s Hot Isostatic Pressing business revenue showed a steady growth trend. Specifically, the revenue in 2018 was $80.43 million, which grew to $124.73 million in 2023, showing the company’s business expansion and increased market demand in this area.
In terms of gross profit, Bodycote PLC recorded a gross profit of US$28.42 million in 2018 and in 2023, the gross profit grew to US$45.66 million. This growth demonstrates the company’s success in improving production efficiency and reducing costs. At the same time, the gross profit margin also showed a steady increase, from 35.33% in 2018 to 36.61% in 2023, indicating that the competitiveness and profitability of Bodycote PLC in the Hot Isostatic Pressing market are increasing year by year.
Table Bodycote PLC Hot Isostatic Pressing Revenue, Gross and Gross Margin (2018-2023)
Bodycote PLC | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Revenue (M USD) | 80.43 | 85.05 | 80.83 | 94.22 | 112.51 | 124.73 |
Gross (M USD) | 28.42 | 30.37 | 28.75 | 33.79 | 40.91 | 45.66 |
Gross Margin | 35.33% | 35.71% | 35.57% | 35.86% | 36.36% | 36.61% |
3. Analysis of Kobe Steel
From 2018 to 2023, Kobe Steel’s Hot Isostatic Pressing business revenue showed a fluctuating growth trend. In 2018, the company’s revenue was $64.18 million, which grew to $84.43 million in 2023. This growth indicates that Kobe Steel, Ltd.’s business in the Hot Isostatic Pressing market has expanded during this time, although there have been some fluctuations along the way.
In terms of gross profit, Kobe Steel increased from US$20.20 million in 2018 to US$27.25 million in 2023, indicating that the company is increasing its profit scale while increasing revenue. Gross margin has also shown some stability over the past five years, remaining between 31% and 32%, indicating that the company has maintained a relatively stable level in controlling costs and improving efficiency.
Specifically, the gross profit margin in 2018 was 31.48%, and the gross profit margin in 2023 increased slightly to 32.27%. This 0.79 percentage point increase is not significant, but the stable gross margin also reflects the company’s competitiveness in the Hot Isostatic Pressing market and its ability to maintain profitability in the face of market volatility.
Table Kobe Steel Hot Isostatic Pressing Revenue, Gross and Gross Margin (2018-2023)
Kobe Steel, Ltd. | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Revenue (M USD) | 64.18 | 69.65 | 67.02 | 72.12 | 77.16 | 84.43 |
Gross (M USD) | 20.20 | 22.41 | 21.04 | 22.96 | 24.76 | 27.25 |
Gross Margin | 31.48% | 32.17% | 31.40% | 31.84% | 32.09% | 32.27% |
