The global metal injection molding (MIM) market is experiencing significant growth due to its unique manufacturing process. MIM technology involves mixing metal powder with a binder material to create a feedstock, enabling the production of complex-shaped parts with high precision. This process reduces the need for additional finishing steps, leading to cost efficiencies. The MIM market finds applications in various industries, including electronics and power tools. As demand for precision components rises, the global metal injection molding (MIM) market is expected to witness continuous expansion.
According to Data Bridge Market Research, the Global Metal Injection Molding (MIM) Market was valued at USD 3.96 billion in 2021 and is expected to reach USD 9.80 billion by 2029, registering a CAGR of 12.00% during the forecast period of 2022-2029.
“Numerous benefits of wood grain powder coating drive the market”
The numerous benefits of wood grain powder coating act as a strong driver for the global metal injection molding (MIM) market. Wood grain powder coating provides a cost-effective solution to achieve the appearance of real wood on metal components while offering enhanced durability, weather resistance, and UV stability. This coating technique allows manufacturers to create products with an attractive wood-like finish, making them suitable for various applications in architecture, furniture, and decorative items. The growing demand for wood grain powder-coated metal components for their aesthetic appeal, versatility, and longevity contributes to the expanding adoption of MIM technology in the market.
What restraints the growth of the global metal injection molding (MIM) market?
“Fluctuations in raw material prices”
Fluctuations in raw material prices serve as a significant restraint for the global metal injection molding (MIM) market. MIM involves the use of various metal powders, and the prices of these powders can be subject to volatility due to factors such as supply-demand imbalances, geopolitical issues, and market dynamics. Such fluctuations can lead to increased production costs and reduced profit margins for MIM manufacturers.
Segmentation: Global Metal Injection Molding (MIM) Market
The metal injection molding (MIM) market is segmented on the basis of material and end users.
- On the basis of material, the metal injection molding (MIM) market is segmented into stainless steel, low alloy steel, carbon steel, soft magnetic alloy, cobalt alloy, tool steel, tungsten steel, titanium, controlled expansion alloys, high-temperature alloys, carbonyl iron powder, others.
- On the basis of end users, the metal injection molding (MIM) market is segmented into automotive, aerospace, defense and firearms, electronics, power tools, industrial, sporting goods, medical and dental, oil exploration, i.t. and telecommunication, consumer goods, others.
Regional Insights: Asia-Pacific dominates the Global Metal Injection Molding (MIM) Market
Asia-Pacific's dominance in the market, in terms of market share and revenue, is driven by factors such as the region's large and growing population, leading to increased demand for products and services across various industries. Additionally, rapid industrialization in countries such as China and India has spurred economic growth, contributing to the region's market dominance.
North America's estimated lucrative growth can be attributed to its well-developed economy and strong industrial base. The region's economic progress has led to increased demands from various end-user industries, further bolstering market growth. As North America continues to witness technological advancements and infrastructure development, the market is poised for significant expansion during the forecast period.
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Recent Developments in Global Metal Injection Molding (MIM) Market
- In 2021, Metal Powder Products (MPP) successfully acquired Proform Powdered Metals, a prominent U.S. company specializing in high-quality sintered bronze bearings and spacers. The acquisition enhances MPP's product portfolio and strengthens its position in the market as a leading provider of metal powder solutions for various industries, including automotive and industrial applications.
The Prominent Key Players Operating in the global metal injection molding (MIM) market Include:
- ASH Industries (U.S.)
- Rockleigh Industries. (U.S.)
- Molex Group LLC (U.S.)
- Schunk Sintermetalltechnik GmbH (Germany)
- Medicines Patent Pool (Switzerland)
- Sandvik AB (Sweden)
- TEKNA. (China)
- PSM Industries, Inc. (U.S.)
- GKN Powder Metallurgy (India)
- Advanced Powder Products, Inc. (U.S.)
- Alpha Precision Group (U.S.)
- CMG Technologies (U.K.)
- Epson Atmix Corporation (Japan)
- Hitachi Metals, Ltd. (Japan)
- Smith Metal Products. (U.S.)
- Parmaco Metal Injection Molding AG (Switzerland)
- INDO-MIM (India)
Above are the key players covered in the report, to know about more and exhaustive list of global metal injection molding (MIM) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Metal Injection Molding (MIM) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
