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Metal Injection Molding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5559
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Market Overview:
The global metal injection molding market size reached US$ 3.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.
Metal injection molding (MIM) refers to an advanced, cost-effective, metalworking procedure, wherein finely powdered metal is mixed with binder material to manufacture the output of feedstocks. These raw materials are further solidified and shaped accurately with the assistance of injection molding. After formation, conditioning operations are executed on finished feedstocks for sintering, removing blinders, and densifying the powders. MIM offer corrosion, thermal stability, high mechanical strength, and dimensional stability to small, finished metal products, due to which they are extensively employed across various industrial applications.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Metal Injection Molding Market Trends:
One of the key factors primarily driving the metal injection molding market growth is the widespread product adoption in the automotive sector for producing precise, lightweight, and high-quality motorized parts in large quantity. These components are further used to manufacture various vehicular parts, such as steering, gearbox, locking mechanisms and turbochargers. In line with this, the extensive deployment of metal injection molding technology for manufacturing surgical equipment, including ablation electrodes, endoscopic graspers, scissors, orthopedic tools, and trauma plates is acting as another growth-inducing factor. Moreover, the shifting inclination of manufacturers toward MIM solutions over conventional molding procedures is contributing to the market growth. Metal injection molding assists in completing operations at affordable prices and reducing the production time and wastage of raw materials used in the production of feedstocks. Other factors, such as rapid urbanization and industrialization, particularly in emerging economies, strategic collaborations amongst key players and the rising investments in research and development (R&D) activities to introduce advanced MIM for mass designing complex shaped metal components are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global metal injection molding market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material type and end use industry.
Breakup by Material Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Stainless Steel
- Low Alloy Steel
- Soft Magnetic Material
- Others
Breakup by End Use Industry:
- Electrical and Electronics
- Automotive
- Medical and Orthodontics
- Consumer Products
- Firearms and Defense
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amphenol Corporation, ARC Group Worldwide Inc., ATW Companies Inc., CMG Technologies, CN Innovations Ltd., Dean Group International Ltd, Ernst Reiner GmbH & Co. KG, Metal Powder Products LLC, Parmaco Metal Injection Molding AG, Sintex a/s, Smith Metal Products and Tanfel Metal.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Material Type, End Use Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Amphenol Corporation, ARC Group Worldwide Inc., ATW Companies Inc., CMG Technologies, CN Innovations Ltd., Dean Group International Ltd, Ernst Reiner GmbH & Co. KG, Metal Powder Products LLC, Parmaco Metal Injection Molding AG, Sintex a/s, Smith Metal Products and Tanfel Metal |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global metal injection molding market was valued at US$ 3.9 Billion in 2022.
We expect the global metal injection molding market to exhibit a CAGR of 9.9% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for metal injection moldings.
The rising demand for metal injection molding in the automotive sector for producing precise, lightweight, and high-quality motorized components in large quantity, is primarily driving the global metal injection molding market.
Based on the material type, the global metal injection molding market has been segmented into stainless steel, low alloy steel, soft magnetic material, and others. Currently, stainless steel holds the majority of the total market share.
Based on the end use industry, the global metal injection molding market can be divided into electrical and electronics, automotive, medical and orthodontics, consumer products, firearms and defense, and others. Among these, the electrical and electronics industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global metal injection molding market include Amphenol Corporation, ARC Group Worldwide Inc., ATW Companies Inc., CMG Technologies, CN Innovations Ltd., Dean Group International Ltd, Ernst Reiner GmbH & Co. KG, Metal Powder Products LLC, Parmaco Metal Injection Molding AG, Sintex a/s, Smith Metal Products, and Tanfel Metal.
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