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  • Metal Injection Molding Market Growth Analysis | 2023-2028

    Metal Injection Molding Market Growth Analysis | 2023-2028

    Metal Injection Molding Market Growth Analysis | 2023-2028
    Report code - SRAM490 Delivery - 2 Weeks
    Metal Injection Molding Market Size, Share, Trend, Forecast & Industry Analysis: See more...

    Market Insights

    The Metal Injection Molding Market was estimated at US$ 2.94 billion in 2022 and is expected to grow at a CAGR of 7.65% during 2023-2028 to reach US$ 4.6 billion in 2028.

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    What is Metal Injection Molding?

    Metal Injection Molding (MIM) is a manufacturing process that combines elements of plastic injection molding and powdered metallurgy to produce intricate metal parts. Fine metal powders are mixed with a thermoplastic binder to create a feedstock, which is then injected into molds using conventional injection molding machines. After molding, the binder is removed through a debinding process, and the remaining compacted metal powders are sintered to fuse them into a solid metal component. MIM offers high precision, intricate shapes, and material versatility, making it suitable for industries like automotive, medical devices, electronics, and more. It provides a cost-effective solution for producing complex metal parts without the need for traditional machining methods.

    Market Dynamics

    The major factors such as growing product demand from the automotive industry, rapid growth in the consumer electronics sector, investments made by the government on arms & ammunition in the U.S., and the significant production backlogs of commercial aircraft along with an increase in air traffic which is expected to fuel the growth of the market during the forecast period.

    Segments Analysis

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    By Material Type

    Based on the material type, the metal injection molding market is segmented as stainless steel, low alloy steel, and soft magnetic materials. Stainless steel is estimated to account for the largest share of the market during the forecast period, the growth is attributed to its better mechanical and corrosion resistance properties in comparison with other materials. It is also used in industries such as automotive for the production of transmission & engine components, and in the industrial goods industry for the production of different power and hand tools, eventually boosting the product demand in the metal injection molding market during the forecast period.

    By End-User Industry Type

    Based on the end-user industry type, the market is segmented as automotive, consumer goods, electronics, medical, firearms, and aerospace. The automotive industry is estimated to be the major end-user industry of the metal injection molding parts industry. The growth is attributed to the high complexity and high strength of these parts which are preferred to be used in engines, gearboxes, turbochargers, etc. On the other hand, the firearms industry is also one of the major sectors of the metal injection molding market as many of the firearm manufacturers use MIM technology for highly automated processes, resulting in saving both time and labor costs for production, eventually boosting the growth of the market during the forecast period.

    Regional Analysis

    In terms of regions, Asia-Pacific is estimated to be the major region in the market, and the growth is attributed to the presence of several emerging economies such as China and India in the region and the increase in demand from various end-user industries during the forecast period. China holds around 40% share of the total metal injection molding parts demand led by a healthy growth in the electronics industry in the regional market and has the world’s largest production base for electronic products contributing around 30% share of the total ICT product exports, globally. Further, other countries such as Singapore, South Korea, and Taiwan also contribute a major share in both the regional and global electronics industries, fueling the growth of the market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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    Key Players

    Some of the key players in the metal injection molding market are-

    • ARC Group Worldwide
    • Akron Porcelain & Plastics Co.
    • ASH Industries
    • CMG Technologies
    • CN Innovations Holdings Ltd.
    • Form Technologies Company
    • Kinetics Climax Inc.
    • Nippon Piston Ring Co Ltd.
    • P.S.M. Industries
    • Smiths Metal Centres Ltd.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Metal Injection Molding Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Who are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    Customization Option

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players).
    • SWOT analysis of key players (up to 3 players).

    Market Segmentation

    • Current market segmentation of any one of the product types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The Metal Injection Molding Market is expected to grow at a CAGR of 7.65% during 2023-2028.

    Akron Porcelain & Plastics Co., ARC Group Worldwide, ASH Industries, CMG Technologies, CN Innovations Holdings Ltd., Form Technologies Company, Kinetics Climax Inc., Nippon Piston Ring Co Ltd., P.S.M. Industries, and Smiths Metal Centres Ltd are among the key players in the Metal Injection Molding Market.

    The Metal Injection Molding Market was estimated at US$ 2.94 billion in 2022 and is expected to reach US$ 4.6 billion in 2028.

    Asia-Pacific is expected to be the major metal injection molding market during the next five years.

    Stainless steel is expected to account for the largest share of the metal injection molding market during the forecast period.