The Metal Injection Molding Market Size has predicted a value of USD 5.03 billion in 2023 and is predicted to reach USD 8.78 billion by 2029, and it is predicted to register a CAGR of 9.74% during the forecast period 2024-2029.
Metal injection molding (MIM) is one of the developed molding procedures that assist in imparting the desired shape to molten metals. MIM has replaced the traditional molding technology owing to the call for high-volume metal parts for automotive and military applications. The already-made mixture, usually a binder and metal powder, is added to the injection molding machine that injects the feed into the mold to attain the desired shape. In the past years, manufacturing businesses have incorporated MIM owing to less waste of raw materials, cost-effectiveness, and low production time. Metal injection molding technology enhanced cost efficiency in those times and therefore was being continued as a very great practice to produce desired outputs. Such efficiency also resulted in high volume production of the parts made.
Metal injection molding (MIM) is a procedure of metalworking where a metal that is powdered very finely is combined with a binder material to give an output of a "feedstock". This feedstock is then given a shape and solidified with the assistance of injection molding. The molding procedure lets high-volume, complicated parts be taken into shape in only one step. After the molding process, the needed part goes through conditioning operations to get rid of the binders. Finished products made by this procedure majorly are small components employed in several businesses and related applications.
MIM technology is used in a broad range of segments like aerospace, automotive, telecommunications, optical, medical, and watch businesses. The metal injection molding market has been segmented into distinct applications, out of which, firearms have shown high expansion potential. The escalating call for lightweight & tiny automotive parts is also generating great opportunities for MIM businesses. An increasing call for the healthcare business, rising technological developments, and the increasing call for lightweight & smaller automotive parts are the key driving factors for the market expansion. The increasing call for healthcare business is the key driving factor for the global metal injection molding market development. The ability to manufacture large volumes of accurate components utilizing Metal Injection Molding has seen its employment raise across the medical segment in past years. The Metal injection molding capacity tends to make the features for ongoing unique medical devices. The worldwide metal injection molding market is driven by less cost of raw materials, quick urbanization & industrialization, and a rise in investment in the manufacturing businesses.
Nevertheless, strict government rules hinder the expansion of the market. However, the digitalization of manufacturing components worldwide is estimated to offer new opportunities in the market. An increasing call for miniaturized composite elements which are employed as a high-performance material in many end-use businesses is one of the major factors that is driving the expansion of the metal injection molding market during the estimated period. Furthermore, increasing calls for different medical equipment is also responsible for boosting the demand for metal injection molding. These metal injection moldings are employed in the manufacturing of medical micro-parts to be used in many medical techniques and processes. Some vascular therapies and some other medical processes like intravenous therapy, invasive surgery, and advanced drug delivery need correct devices that are made by utilizing the method of position of the art. Specialized manufacturing methods are needed to give intricate shapes to medical equipment. Metal injection molding has the ability to give such shapes that are allowing the expansion of the metal injection molding industry.
REPORT METRIC |
DETAILS |
Market Size Available |
2023-2029 |
Base Year |
2023 |
Forecast Period |
2024-2029 |
CAGR |
9.74% |
Segments Covered |
By Material, End-use, Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa. |
Market Leaders Profiled |
Indo-MIM (India), Dynacast International (US), ARC Group Worldwide (US), Smith Metal Products (US), NetShape Technologies (US), Husky Injection Molding Systems Ltd, Injectamax International, LLC, Tanfel Metal, D&K ENGINEERING, Reaux Medical Molding, Mahler GmbH, BMI Fours Industriels, and Others. |
Among these, the stainless steel segment is estimated to be the quickest developing in the foreseen period. The broad applications of stainless steel make it low-cost and easily available.
The electrical and electronics segment of the end-use businesses is estimated to have the largest CAGR in the outlook period. The call for compact electronics has increased the demand for tiny and complicated metal injection moldings that have high performance and lower prices.
The Asia-Pacific region is presently leading the metal injection molding industry. The market for metal injection molding has a great availability in the automotive business where makers of machine and machine components hold a leading portion of the market share. Asia Pacific region has a high demand in terms of availability for the automotive industry and that is the reason why the market for metal injection molding is escalating in this area. The industry for metal injection molding in the North America region is led by the application sectors like healthcare and medicine.
Companies playing a prominent role in the global metal injection molding market include Indo-MIM (India), Dynacast International (US), ARC Group Worldwide (US), Smith Metal Products (US), NetShape Technologies (US), Husky Injection Molding Systems Ltd, Injectamax International, LLC, Tanfel Metal, D&K ENGINEERING, Reaux Medical Molding, Mahler GmbH, BMI Fours Industriels, and Others.
By Material
By End-use
By Region
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region