Low cost of raw materials and high investment in manufacturing industries are factors encouraging the growth of the metal injection molding market.
Market Size in 2019 - USD 3.62 Billion, Market Growth - CAGR of 8.4% over the forecast period, Market Trends - Rapid urbanization and industrialization
The Metal Injection Molding Market size is forecast to reach USD 7.2 Billion by 2027, suggests our latest report. Metal Injection Molding (MIM) is an advanced molding process used to impart various shapes to molten metals. The increasing demand for a high volume of metal parts in the automotive and military sectors is fueling the market demand. Manufacturers prefer the metal injection molding market rather than other traditional ones as there is less wastage of raw materials and it is more cost-effective and uses less time for production.
The metal injection molding market is driven by rapid industrialization, swift urbanization, growing investment in manufacturing industries, and low cost of raw materials. The digitalization of manufacturing components across the globe is expected to provide new opportunities for the growth of the economy.
The increasing demand for the product in end-user industries, such as consumer goods, medical devices, automotive, and aerospace, is fueling the market demand. Technological advancement has paved the way for manufactures of metal components of different sizes and complexities.
The Asia Pacific dominated the market for the metal injection molding market in 2018. The expansion of the automotive industry in emerging economies is pushing the market of metal injection molding market in the region. The rise of the electronics industry in countries such as China, Japan, and India is raising the demand for metal parts, thus, augmenting the market in the Asia Pacific region. As the production cost of the market product is low in the region, key players are investing and building up their production facilities in these countries.
Further key findings from the report suggest
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Global Metal Injection Molding Market on the basis of product, material type, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Material Type Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Reasons to Buy the Report
Market Size in 2019 - USD 3.62 Billion, Market Growth - CAGR of 8.4% over the forecast period, Market Trends - Rapid urbanization and industrialization
The Metal Injection Molding Market size is forecast to reach USD 7.2 Billion by 2027, suggests our latest report. Metal Injection Molding (MIM) is an advanced molding process used to impart various shapes to molten metals. The increasing demand for a high volume of metal parts in the automotive and military sectors is fueling the market demand. Manufacturers prefer the metal injection molding market rather than other traditional ones as there is less wastage of raw materials and it is more cost-effective and uses less time for production.
The metal injection molding market is driven by rapid industrialization, swift urbanization, growing investment in manufacturing industries, and low cost of raw materials. The digitalization of manufacturing components across the globe is expected to provide new opportunities for the growth of the economy.
The increasing demand for the product in end-user industries, such as consumer goods, medical devices, automotive, and aerospace, is fueling the market demand. Technological advancement has paved the way for manufactures of metal components of different sizes and complexities.
The Asia Pacific dominated the market for the metal injection molding market in 2018. The expansion of the automotive industry in emerging economies is pushing the market of metal injection molding market in the region. The rise of the electronics industry in countries such as China, Japan, and India is raising the demand for metal parts, thus, augmenting the market in the Asia Pacific region. As the production cost of the market product is low in the region, key players are investing and building up their production facilities in these countries.
Further key findings from the report suggest
- Stainless Steel held the largest metal injection molding market share of 43% by the year 2019. The material has applications in a wide range of industries and is also cheaper than its counterparts.
- The material can be rolled into sheets, bars, plates, wires, and tubes. It is used in the production of metal components of varying sizes. It is projected to have a growth rate of 9.0% during the forecast period.
- Soft magnetic materials are generally used for temporary energy storage in a magnetic field. It is projected that the material would exhibit a growth rate of 6.7% during the forecast period.
- Low alloy steels contain less than 0.10-1.0% carbon, and elements are added to the alloy to produce unique capabilities. It is mainly used in bearings and weathering steels.
- The growth of the automotive industry across the globe has increased the demand for metal injection molding and held the largest market share of 25% by 2019.
- The automotive sector has become a major consumer of metal injection molding parts. The high strength and complexity of the parts find application in gearboxes, engines, steering systems, locking mechanisms, turbochargers, and electronic systems.
- Metal injection molding is also used in the manufacturing of defense parts, such as sear, ejector, slide, inserts front/rear, hammer, trigger bar, catches, extractor, firing pins, trigger, slide stop, magazine catch, and rear or front sights.
- The aerospace and defense sector held a market share of 19% in 2018 and is forecast to register a CAGR of 6.8%.
- Carbonyl method held a market share of 33% in 2018 and is expected to have a CAGR of 8.4% during the forecast period.
- North America held the second-largest market share of 24% by 2019, the U.S. being the most important contributor in the region.
- The U.S. metal injection molding industry has approximately 30 commercial parts makers, plus fifteen to eighteen captive operations, making primarily medical, dental, and firearms components for their own products.
- In the U.S., stainless steels and low-alloy steels dominate the metal injection molding materials mix, accounting for an estimated 83% of powders consumed.
- Key participants include Dynacast, Husky Injection Molding Systems Ltd., ARCMIM, Tanfel Metal, MIM India Company, Injectamax International, LLC., D&K ENGINEERING, Mahler GmbH, Reaux Medical Molding, NetShape Technologies, and Smith Metal Products, among others.
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Global Metal Injection Molding Market on the basis of product, material type, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Carbonyl Method
- High-Pressure Gas Atomization
- Ultra-High Pressure Water Atomization
Material Type Outlook (Revenue, USD Billion; 2017-2027)
- Stainless Steel
- Low Alloy Steel
- Soft Magnetic Material
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Medical and Orthodontics
- Electrical and Electronics
- Consumer Industrial
- Aerospace and Defense
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Europe
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Metal Injection Molding Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Metal Injection Molding market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Metal Injection Molding Market Segmentation & Impact Analysis
Chapter 5. Metal Injection Molding Market By Product Insights & Trends
Chapter 6. Metal Injection Molding Market By Material Type Insights & Trends
Chapter 7. Metal Injection Molding Market By End User Insights & Trends
Chapter 8. Metal Injection Molding Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- ARCMIM
- OPTIMIM
- TANFEL Metal
- Indo-Mim
- Smith Metal
- Sintex AS
- Dean Group International
- Metal Powder Products Company
- CMG Technologies
- GKN Plc
