What Has Been the Growth Trajectory of the Metal Injection Molding Market?
The metal injection molding market has seen considerable growth due to a variety of factors.
•In recent times, there has been a significant upsurge in the size of the metal injection molding market. It is projected to increase from $4.35 billion in 2024 to $4.78 billion in 2025 with a compound annual growth rate (CAGR) of 9.9%.
This growth during the historic period is a direct result of progress in powder metallurgy, the high demand of the automotive industry, needs from the energy sector, expansion in additive manufacturing, and the manufacturing of consumer goods.
What Does the Future Hold for the Metal Injection Molding Market?
The metal injection molding market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for metal injection molding is anticipated to experience significant expansion in the coming years. It is projected to escalate to "$6.98 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%.
The predicted growth during the forecast period is due to advancements in the development of alloys, practices that are environmentally friendly, investment in research and development, an increasing demand for lightweight materials, and global infrastructural development. Key trends that are anticipated to dominate this forecast period include additive manufacturing, broader selection of metal powder alloys, digitalization techniques in powder metallurgy, and integration of metal injection molding with industry 4.0.
What Are the Critical Driver Fuelling the Metal Injection Molding Market's Growth?
The growth of the metal injection molding market is projected to be driven by escalating demand from the automotive industry. The automotive industry consists of businesses handling the manufacturing, distribution, retail, and maintenance of vehicles. The automotive sector extensively utilizes metal injection molded components for several parts like engines, gearboxes, turbochargers, locking systems, steering systems, and electrical systems. They are used to create high-strength, complex parts. For example, U.S. Environmental Protection Agency data from December 2023 indicated that the joint production percentage of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) went up from 4% in 2021 to 7% in 2022. Predictions suggest this is expected to rise further to 12% by 2023. Hence, the accelerating demand from the automotive industry fuels the growth of the metal injection molding market.
How Is the Metal Injection Molding Market segmented?
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
Subsegments:
1) By Stainless Steel: Austenitic Stainless Steel, Ferritic Stainless Steel, Martensitic Stainless Steel
2) By Low Alloy Steel: Low Alloy Carbon Steel, Low Alloy Structural Steel
3) By Soft Magnetic Material: Iron-based Alloys, Cobalt-based Alloys
4) By Other Materials: Tool Steel, Copper Alloys, Titanium Alloys
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What New Trends Are Influencing the Metal Injection Molding Market?
The emergence of product innovations is a notable trend in the metal injection molding market. Major players in the market are employing cutting-edge technologies to fortify their foothold in the industry. For instance, Biomerics, an American medical equipment manufacturer, unveiled new vertically integrated metal injection molding (MIM) services in October 2024 to augment its production abilities. Biomerics' micro metals division spearheaded these services, which allows the firm to control the entire production framework in-house, right from material procurement to the manufacturing of the end product. This vertical integration is aimed at making operations more efficient, enhancing quality control, and catering to the need for intricate, highly accurate components in the medical device sector. The introduction of MIM technology empowers Biomerics to fabricate complex parts which pose a challenge for conventional fabrication methods.
Who Are the Key Players in the Metal Injection Molding Market?
Major companies operating in the metal injection molding market include:
• 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.
• 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.
What Is The Most Dominant Region In The Metal Injection Molding Market?
Asia-Pacific was the largest region in the metal injection molding market in 2024. The regions covered in the metal injection molding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
