Metal Injection Molding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Metal Injection Molding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global metal injection molding market size reached US$ 3.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.

Metal injection molding (MIM) refers to an advanced, cost-effective, metalworking procedure, wherein finely powdered metal is mixed with binder material to manufacture the output of feedstocks. These raw materials are further solidified and shaped accurately with the assistance of injection molding. After formation, conditioning operations are executed on finished feedstocks for sintering, removing blinders, and densifying the powders. MIM offer corrosion, thermal stability, high mechanical strength, and dimensional stability to small, finished metal products, due to which they are extensively employed across various industrial applications.

Metal Injection Molding Market Trends:
One of the key factors primarily driving the metal injection molding market growth is the widespread product adoption in the automotive sector for producing precise, lightweight, and high-quality motorized parts in large quantity. These components are further used to manufacture various vehicular parts, such as steering, gearbox, locking mechanisms and turbochargers. In line with this, the extensive deployment of metal injection molding technology for manufacturing surgical equipment, including ablation electrodes, endoscopic graspers, scissors, orthopedic tools, and trauma plates is acting as another growth-inducing factor. Moreover, the shifting inclination of manufacturers toward MIM solutions over conventional molding procedures is contributing to the market growth. Metal injection molding assists in completing operations at affordable prices and reducing the production time and wastage of raw materials used in the production of feedstocks. Other factors, such as rapid urbanization and industrialization, particularly in emerging economies, strategic collaborations amongst key players and the rising investments in research and development (R&D) activities to introduce advanced MIM for mass designing complex shaped metal components are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global metal injection molding market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material type and end use industry.

Breakup by Material Type:

Stainless Steel
Low Alloy Steel
Soft Magnetic Material
Others

Breakup by End Use Industry:

Electrical and Electronics
Automotive
Medical and Orthodontics
Consumer Products
Firearms and Defense
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amphenol Corporation, ARC Group Worldwide Inc., ATW Companies Inc., CMG Technologies, CN Innovations Ltd., Dean Group International Ltd, Ernst Reiner GmbH & Co. KG, Metal Powder Products LLC, Parmaco Metal Injection Molding AG, Sintex a/s, Smith Metal Products and Tanfel Metal.

Key Questions Answered in This Report

1. What was the size of the global metal injection molding market in 2022?
2. What is the expected growth rate of the global metal injection molding market during 2023-2028?
3. What has been the impact of COVID-19 on the global metal injection molding market?
4. What are the key factors driving the global metal injection molding market?
5. What is the breakup of the global metal injection molding market based on the material type?
6. What is the breakup of the global metal injection molding market based on the end use industry?
7. What are the key regions in the global metal injection molding market?
8. Who are the key players/companies in the global metal injection molding market?