Numerous Benefits of Wood Grain Powder Coating Drives the Demand for Metal Injection Molding (MIM) Market

Comparing metalworking processes using the metal injection molding (MIM) technique to more conventional manufacturing techniques, significant time and financial savings is achieved. The product development cycle is shortened thanks to the technology, which eliminates the need for expensive multistage machining processes. It also offers sophisticated product designs for metal components. Additionally, it enables the production of components with intricate shapes and exact tolerances. It offers the customer the highest levels of tolerance, surface treatment and branding. The MIM process ensures nearly complete metal part density, up to 99.5%. These improved characteristics will continue to fuel market expansion during the forecast period.

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Data Bridge Market Research analyses that the Metal Injection Molding (MIM) Market is expected to grow at a CAGR of 12.00% in the forecast period of 2022 to 2029 and is expected to reach USD 9.80 billion by 2029 from USD 3.96 billion in 2021.

Technical Advancements and Enhanced Designs Are Expected to Drive the Market

The MIM manufacturing process enables the highest level of precision in the finished product, no matter how complex the product's design is. Additionally, it allows the manufacture of components with precise tolerances. MIM design is adaptable and virtually limitless in comparison to conventional metalworking techniques. Concerning customizing their own designed patterns, this factor provides the product designer the greatest amount of freedom. However, making larger MIM parts (weighing up to 453g) is also possible. Furthermore, metal injection moulding allows for any structure or shape creation. During the forecast period, this element is producing sizable growth prospects.

Report Scope and Market Segmentation

Segment Analysis:

Global metal injection molding (MIM) market is segmented into two notable segments which are based on the material and industry.

• On the basis of material, the global 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 and others.

Stainless steel treatment segment is expected to dominate global metal injection molding (MIM) market

Stainless steel treatment segment is expected to dominate global metal injection molding (MIM) market with 42.17% market share because stainless steel is 100% recyclable material which makes stainless steel to dominate in the region. 

• On the basis of industry, the global metal injection molding (MIM) market is segmented into automotive, aerospace, defense and firearms, electronics, power tools, industrial, sporting goods, medical and dental, oil exploration, IT, consumer goods and others.

Automotive segment is expected to dominate global metal injection molding (MIM) market

Automotive segment is expected to dominate global metal injection molding (MIM) market with 21.38% market share due to the production of the luxury cars with high quality metal products which increases the demand of the metal injection molding (MIM) products in the region. In the Middle East and Africa, IT industry is dominating in the region as consumer preference is changing to the latest technology which increases the demand of the IT products in the region.

Major Players

Data Bridge Market Research recognizes the following companies as the major paint protection film market players in Metal injection molding (MIM) market are 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)

Market Development

• In 2021, Metal Powder Products announced that it had successfully acquired the American company Proform Powdered Metals. It is a top supplier of spacers and bearings made of sintered bronze of the highest caliber.
• In 2020, The Fe-base Amorphous Metal, MaDC-A product, a counterpart of the MIM technology was introduced by Hitachi Metals, Ltd. The company's revenue will likely improve as a result of this development.

Regional Analysis

Geographically, the countries covered in the metal injection molding (MIM) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in metal injection molding (MIM) market in the forecast period 2022 - 2029

Asia-Pacific is dominating due to the region's rapid economic growth and rising demand from many end-user sectors, increasing demand for consumer products, cars and machining.

North America is estimated to be the fastest-growing region in metal injection molding (MIM) market in the forecast period 2022 - 2029

North America is expected to grow due to expanding industry and a growing population. Rising competition and increasing demand for these technologies, particularly from the healthcare sector, will also help the metal injection molding market to grow.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted the world economy. Consequently, it had an adverse effect on the global market for metal injection molding. Disruptions hamper market expansion in the management of the supply chain and the transportation of products and services. Lockdowns and curfews imposed by governments around the world caused many industrial and production facilities to stop operating, resulting in the loss and waste of several metal injection moulding items. The epidemic also had a profound impact on consumer demand and behavior. Consumers avoided buying unnecessary goods, due to the pandemic. The pandemic's unpredictability and influence on the market greatly slowed the industry's expansion. The metal injection moulding market has rebounded, nevertheless and the post-pandemic environment has improved.

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