Global Metal Injection Molding Market is expected to grow at a robust CAGR
Global Metal
Injection Molding Market is expected to grow owing to growth in increasing
technological advancements throughout the forecast period.
According to
TechSci Research report, “Metal
Injection Molding Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028”, the Global Metal Injection Molding
Market is expected to register robust growth during the forecast period owing to
surge in demand in electronics and electrical, healthcare industry driven by
technological advancements and the need for lightweight and smaller automotive
parts. This market growth is primarily fuelled by the ability of metal
injection molding (MIM) to produce high volumes of precision components, making
it increasingly popular in the medical sector. The capabilities of MIM
contribute to the creation of features for modern medical device products.
In
an era where industries demand increasingly compact and intricate components,
Metal Injection Molding (MIM) presents a distinctive advantage for
manufacturing highly precise parts. MIM excels in producing intricate shapes
with narrow tolerances, making it ideal for applications that necessitate
miniaturization, such as electronics, medical devices, and aerospace. MIM
offers the potential to customize components according to specific customer
requirements, empowering manufacturers to penetrate niche markets with tailored
solutions. This adaptability caters to industries with unique demands,
including luxury goods, precision instruments, and specialized machinery.
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market data Figures spread through XX Pages and an in-depth TOC on the "Global Metal Injection Molding Market."
The Global Metal
Injection Molding Market is segmented based on material type, end-use industry
and region. Based on material type, the market is bifurcated into wood,
ceramic, metal, fiber cement and others. Based on end-use industry, the market
is bifurcated into residential and non-residential. Based on region, the market
is further bifurcated into North America, Asia-Pacific, Europe, South America,
Middle East & Africa. Based on material
type,
Stainless Steel segment
is expected to dominate the market during the forecast period. Stainless steel
MIM components often necessitate meticulous sintering processes to attain the
desired mechanical properties while upholding corrosion resistance. Certain
stainless steel alloys may incur higher costs, impacting overall component
expenses. Advancements in MIM technology are facilitating the production of
intricate stainless steel components with precise geometries and enhanced
mechanical properties. The recyclability of stainless steel is renowned,
contributing to sustainable practices in the MIM industry. The Stainless Steel
segment within the Global Metal Injection Molding Market is anticipated to
witness growth as industries continue to seek components that offer a blend of
mechanical strength, corrosion resistance, and aesthetic appeal.
Based on end-use
industry, Electrical & Electronics segment is projected to dominate the
market throughout the forecast period. The demand for MIM components in the
Electrical & Electronics sector is fueled by the necessity for
miniaturization, enhanced performance, and increased functionality of
electronic devices and systems. The remarkable ability of MIM to manufacture
intricate and small parts with exceptional dimensional accuracy perfectly
aligns with the industry's requirements. MIM is extensively employed in the
production of small connectors, pins, and contacts with intricate shapes and
precise dimensions. These MIM components find applications in switches,
sensors, and actuator mechanisms, which are integral to various electronic
devices. Furthermore, MIM plays a vital role in manufacturing components for
microelectronic packaging, ensuring efficient heat dissipation and reliable
electrical connections. The selection of materials in the Electrical &
Electronics sector is based on their conductivity, thermal properties, and
compatibility with electronic systems. As technology continues to advance,
propelling the demand for compact, efficient, and high-performance components,
the Electrical & Electronics segment within the Global Metal Injection Molding
Market is anticipated to experience significant growth.0
Key market
players in the Global Metal Injection Molding Market are:-
- Tata Steel Ltd
- Compagnie de Saint Gobain SA
- Etex Group
- Kingspan Group
- James Hardie Industries PLC
- Boral Limited
- CSR Building Products
- Nichiha Corporation
- Cembrit Holding AS
- OmniMax International, Inc.
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“Asia Pacific is
expected to dominate ethe market during the forecast period. Asia Pacific's
renowned reputation for efficient and cost-effective manufacturing serves as a
prominent catalyst for the growth of the MIM market. The region's expertise in
high-volume production of intricate components aligns seamlessly with the
capabilities of MIM technology. Moreover, the increasing healthcare
expenditures and demand for medical devices in Asia Pacific present significant
opportunities for MIM in the production of components for surgical instruments,
orthopedics, dental tools, and other applications. Notably, MIM technology's
remarkable ability to manufacture complex shapes and intricate geometries
complements the region's ongoing trend towards miniaturization in electronics
and precision engineering.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Metal
Injection Molding Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2018-2028, Segmented By Material Type (Stainless Steel, Low
Alloy Steel and Soft Magnetic Material), By End-use Industry (Automotive,
Medical & Healthcare, Electrical & Electronics and Others), By Region, Competition,”
has evaluated the future growth potential of Global Metal
Injection Molding Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Metal
Injection Molding Market.
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