Overview and Scope
Metal injection molding (MIM) refers to a metal fabrication process that is used to produce small, complex, tailored metal parts with high precision and consistency. It combines the benefits of plastic injection molding with the strength and durability of metal materials.
Sizing and Forecast
The metal injection molding market size has grown rapidly in recent years. It will grow from $3.97 billion in 2023 to $4.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to powder metallurgy advancements, automotive industry demand, energy sector requirements, additive manufacturing growth, consumer goods manufacturing..
The metal injection molding market size is expected to see strong growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to advancements in alloy development, sustainable practices, investments in research and development, rising demand for lightweight materials, global infrastructure development.. Major trends in the forecast period include additive manufacturing, powder metallurgy techniques, wider range of metal powder alloys, metal injection molding, digitalization and industry 4.0 integration..
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Segmentation & Regional Insights
The metal injection molding market covered in this report is segmented –
1) By Material: Stainless Steel, Low Alloy Steel, Soft Magnetic Material, Other Materials
2) By Machine Type: Hydraulic, Electric, Hybrid
3) By End-user: Electrical And Electronics, Automotive, Consumer, Industrial, Other End-Users
Asia-Pacific was the largest region in the metal injection molding market in 2023. The regions covered in the metal injection molding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising demand from the automotive industry is expected to propel the growth of the metal injection molding market going forward. An automotive industry refers to an industry that comprises businesses involved in the manufacture, distribution, retail, and upkeep of automobiles. Metal injection molded parts are now largely used by the automotive industry for engines, gearboxes, turbochargers, locking mechanisms, steering systems, and electrical systems. These are employed to produce high-strength, high-complexity parts. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Therefore, rising demand from the automotive industry is driving the growth of the metal injection molding market.
Key Industry Players
Major companies operating in the metal injection molding market report are Molex LLC, Indo-Mim Private Limited, CMG Technologies Ltd., GKN Ltd., Smith Metal Products, ASH Industries Inc., Rockleigh Industries Inc., Schunk Sintermetalltechnik GmbH, Sandvik AB, Tekna Manufacturing Private Limited, PSM Industries Inc., Advanced Powder Products Inc., Alpha Precision Group, Epson Atmix Corporation, Hitachi Metals Ltd., 3A Composites, Shanghai FUTURE HIGH-TECH Co. Ltd., Advanced Forming Technology, Ametek Specialty Metal Products, Parmatech Corporation, WTM SOLUTIONS, MOKO Technology, Kinetics Climax Inc., Phillips-Medisize LLC, FloMet LLC, Advanced Technology & Materials Co. Ltd., Nbtm New Materials Group, Jiangsu Gian Technology Co. Ltd., Shenzhen Zhucheng Science & Technology Co. Ltd., MDM Metal Industrial Co.Ltd.
The metal injection molding market report table of contents includes:
1. Executive Summary
2. Metal Injection Molding Market Characteristics
3. Metal Injection Molding Market Trends And Strategies
4. Metal Injection Molding Market – Macro Economic Scenario
5. Global Metal Injection Molding Market Size and Growth
…
31. Global Metal Injection Molding Market Competitive Benchmarking
32. Global Metal Injection Molding Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Metal Injection Molding Market
34.Metal Injection Molding Market Future Outlook and Potential Analysis
35. Appendix
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