Metal Injection Molding Market Scope
The Metal Injection Molding market is expected to witness high demand in the forecasted period due to the rapid growth experienced by this industry attributes to rising demand from end-use industries including automotive & aerospace, consumer goods, and medical devices. In the MIM process, fine metal powder is mixed with a thermoplastic resin called the binder, and the mixture is then processed into a molded body with a complex shape by the same injection molding method as that for general plastic. After that, the binder is removed from the molded body by heating or using a solvent, and the resulting molded body is sintered at high temperature to obtain the final product. Compared to conventional powder metallurgy, MIM can make a product with higher density, which is to say increased strength.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | Indo-MIM (India), Dynacast International, ARC Group Worldwide (United States), Phillips-Medisize, Smith Metal Products, NetShape Technologies, Dean Group International, Sintex A/S (Denmark), CMG Technologies (United Kingdom) and Future High-Tech (China) |
CAGR | 12.6% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail competitive advantage through combined collaborations. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Metal Injection Molding market throughout the predicted period.
Indo-MIM (India), Dynacast International, ARC Group Worldwide (United States), Phillips-Medisize, Smith Metal Products, NetShape Technologies, Dean Group International, Sintex A/S (Denmark), CMG Technologies (United Kingdom) and Future High-Tech (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Parmatech Corporation (United States) and Parmaco Metal Injection Molding (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Metal Injection Molding market by Type , by Application (Mobile Telephony, Sports Equipment, Surgical Equipment, Optics and Other) and Region with country level break-up.
On the basis of geography, the market of Metal Injection Molding has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In April 2021, Novel Carotid Stent Provides Integrated Embolic Protection. The Contego Medical (Raleigh, NC, USA) Neuroguard integrated embolic protection (IEP) system is intended to improve luminal diameter in patients with clinically significant carotid artery stenosis, with simultaneous capture and removal of embolic material during angioplasty and stenting.
In July 2020, Keystone Heart, A Venus MedTech Company, Announces First Commercial Case Performed Worldwide with The TriGUARD 3T Cerebral Embolic Protection Device. and On 5th August 2019, Smith Metal Products Brings The Latest In MIM Metal Injection Molding Capabilities To FABTECH 2019, Booth A3w573. Smith Metal’s sales engineers will explain the benefits of its MIM metal injection molding processes that include stainless steel, steel, titanium and most ferrous materials.
Influencing Trend:
Technological Advancements Associated with Metal Injection Molding and Upsurging Demand for Lightweight & Smaller Automotive Parts
Market Growth Drivers:
High Adoption from the Healthcare Industry and High Demand due to Applicable in a Vast Assortment of Areas including Gearbox Parts, Watches, Jewelry and Others
Challenges:
The Concern related to the price of the Product
Restraints:
The Growing Concern Related to Cost for Small Production Capacities
Opportunities:
The Emergence of Newer Applications in Firearms & Defense Industry of North America and Growing Automotive Industry in Developing Countries from APAC
Key Target Audience
Metal Injection Molding Manufacturers, Metal Injection Molding Distributors, Metal Injection Molding Suppliers, Government and Research Organizations, Raw Material Suppliers and Associations and Industry Bodies