The global metal injection molding market size is expected to reach USD 6.78 Billion in 2030 and register a revenue CAGR of 8.1% over the forecast period, according to latest report by Reports and Data. Increasing government investments in defense equipment is driving metal injection molding market revenue growth.
Metal injection molding is a versatile, cost-effective, and innovative process that provides product designers and production engineers with versatility when working with metal alloys. Metal is an excellent replacement for plastic and ceramic components as they are unable to perform as expected. Metal injection molding focuses on quality and precision, and the process is closely monitored to ensure that it meets the needs. When a metal alloy is selected for a specific application, geometry of component is constrained by cost of shaping operations. With formation of net shape parts in the tool, metal injection molding helps to overcome this issue. Metal injection molding has advantages such as resistance to wear and corrosion, thermal stability, high mechanical strength, and dimensional stability.
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Top Players in the Global Metal Injection Molding Market:
ARC Group Worldwide, INDO-MIM, Smith Metal Products, DK ENGINEERING, Tanfel Metal, Husky Technologies, Connor Corporation, ASH Industries, Redstone Manufacturing, and Advanced Powder Products, Inc.
Some Key Highlights from the Report
- On May 21, 2019, Desktop Metal, a Massachusetts-based manufacturer of 3D printing solutions, announced a strategic partnership with Indo-MIM, an India-based fully integrated metal injection molding parts producer with capabilities and proficiency in design, tooling, materials, and a full range of finishing and assembly operations. The partnership enables Desktop Metal and Indo-MIM to provide innovative solutions that will allow companies worldwide to design and produce additively manufactured metal parts at scale while also reducing time to market.
- Others segment accounted for a moderate revenue share in 2021. Others include consumer products, and energy infrastructure, among others. One of the key factors driving demand for consumer products is increasing demand for watches, eyewear, and other consumer products. Metal injection molding has made significant progress in establishing itself as a low-cost manufacturing technology for innovative watch designs ranging from everyday stainless-steel timepieces to luxury diamond-encrusted timepieces. For instance, SWATCH AG, was among the first to use stainless steel metal injection molding watch cases. Furthermore, metal injection molding enables eyewear manufacturers to design intricate spectacle frames in a much more cost-effective and high-volume manner.
- Stainless steel segment accounted for largest revenue share in 2021. Stainless steel has excellent stiffness, wear resistance, and corrosion resistance properties. It's a popular material for metal injection molding. Stainless steels benefit from metal injection molding as it improves their strength, density, corrosion resistance, and flexibility. In automotive and medical instrument industries, use of metal injection molding for stainless steel is steadily increasing. The initial use and overall success of metal injection molded orthodontic brackets demonstrate corrosion resistance and biocompatibility of metal injection molded stainless steel applications.
- Market in Asia Pacific accounted for largest revenue share in 2021. Growing number of manufacturing units, rising urbanization, and increased demand for passenger vehicles and intelligent electronic products have all contributed to growth of market in Asia Pacific. Metal injection molding allows for greater design flexibility, improved accuracy, and a wide range of material options. As a result, the process is widely used in production of critical equipment components. Furthermore, rising government initiatives on vehicle safety features have encouraged automotive manufacturers in this region to adopt this manufacturing technology due to high-value components and products it produces.
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Market segmentation based on Material Outlook:
- Stainless Steel
- Low Alloy Steel
- Soft Magnetic Steel
- Others
End-Use Outlook:
- Electrical Electronics
- Fiber Optic Connectors
- Filter Components
- Heat Sinks
- Micro-Switches
- Connectors
- Others
- Automotive
- Electrical Systems
- Fuel System
- Interiors
- Powertrain
- Safety System
- Others
- Medical
- Surgical Instruments
- Orthopedic
- Implants
- Others
- Aerospace
- Fasteners
- Screws
- Seatbelt Components
- Bushings
- Rotors
- Others
- Firearms Defense
- Fire Suppression
- Cam Block
- Sensor Housings
- Others
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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