The Latin America, Middle East and Africa Isostatic Pressing Market would witness market growth of 11.8% CAGR during the forecast period (2023-2030).
Due to a sharp increase in the demand for goods with a quick manufacturing process in the healthcare sector, the market is anticipated to expand during the period of forecasting. Parts created using additive manufacturing processes like 3D printing must undergo important post-processing steps like isostatic pressing. The method aids in lowering errors, enhancing surface quality, and boosting the structural integrity and strength of printed components. The need is increasing due to the expanding use of 3D printing across numerous industries. The market is also growing due to an increase in the automotive industry's need for additive manufacturing, or 3D printing, due to a rise in the need for low-cost methods of producing spare parts.
By applying consistent pressure in all directions, isostatic pressing is utilized to condense powders and shape materials. Manufacturing complex-shaped components with exact dimensional control and suitable microstructures is now possible because of improvements in powder metallurgy techniques, such as enhanced alloy development, powder fragmentation, and binder systems. The market size is increasing due to this factor.
According to Export.Gov, the Kingdom of Saudi Arabia accounts for 59.4% of the pharmaceuticals purchased in the Gulf region. The government of Saudi Arabia's Vision 2030 and the NTP's objectives for economic diversification and job development have aggressively prompted the public and private sectors to grow the life sciences industry in general and the pharmaceutical industry in particular. According to the International Trade Administration data published in 2020, South Africa spends about R15 billion (about USD 900 million) yearly on imported APIs and is reliant on importing both finished APIs and pharmaceutical products.
The Brazil market dominated the LAMEA Isostatic Pressing Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $276.8 million by 2030. The Argentina market is anticipated to grow at a CAGR of 12.4% during (2023 - 2030). Additionally, The UAE market would display a CAGR of 11.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.)
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