Metal Injection Molding Market by Material Type (Stainless Steel, Low Alloy Steel, Soft Magnetic Material) End-use Industry (Electrical & Electronics, Automotive, Consumer, Industrial, Medical & Orthodontics, Firearms & Defense) - Global Forecast to 2022
“Growing demand from end-use industries in emerging economies is driving the growth of the metal injection molding market”
The metal injection molding market is estimated to be USD 2.58 billion in 2017 and is projected to reach USD 3.77 billion by 2022, at a CAGR of 7.83% from 2017 to 2022. The growth of this market can be attributed to the increasing demand for small and complex metal injection molded parts from end-use industries, including electrical & electronics, automotive, medical & orthodontics, industrial, consumer products, and firearms & defense. The major factor restraining the growth of the metal injection molding market is that it is expensive to produce a relatively small quantity of metal injection molded parts.
“Stainless steel segment is expected to dominate the metal injection molding market till 2022”
Based on material type, the stainless steel segment is projected to account for the largest share of the metal injection molding market, in terms of value, from 2017 to 2022. This large share can be attributed to the increased usage of stainless steel in consumer electronics, medical, industrial, and automotive industries in the emerging economies. Stainless steel finds wide application in various industries owing to its ability to provide high strength and hardness with moderate corrosion resistance. Stainless steel is consumed widely as owing to its relatively lower price as compared to that of other material types, and this is expected to drive the demand for stainless steel during the forecast period.
“Asia Pacific is projected to lead the metal injection molding market during the forecast period”
On the basis of region, the metal injection molding market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is projected to lead the metal injection molding market during the forecast period owing to the increasing demand for small and complex metal injection molded parts from the wide range of end-use industries in this region, including automotive, electrical & electronics, medical & orthodontics, industrial, and firearms & defense.
Breakdown of primaries:
Primary interviews were conducted with a number of industry experts to collect information related to the metal injection molding market. The breakdown of primary interviews is depicted below:
• By Company Type: Tier 1 - 31%, Tier 2 - 46%, and Tier 3 - 23%
• By Designation: C Level - 46%, Director Level - 27%, and Others - 27%
• By Region: North America – 24%, Europe - 29%, Asia Pacific - 24%, South America – 14%, and Middle East & Africa - 9%
Key companies supplying metal injection molding are:
• Indo-MIM (India)
• Dynacast International (US)
• ARC Group Worldwide (US)
• Phillips-Medisize (US)
• Smith Metal Products (US)
• NetShape Technologies (US)
• Dean Group International (US)
• Sintex (Denmark)
• CMG Technologies (UK)
• Future High-Tech (China)
• Parmatech Corporation (US)
• Parmaco Metal Injection Molding (Switzerland)
This report segments the metal injection molding market on the basis of material type, end-use industry, and region, and provides estimations for the overall value of the market and its subsegments across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key growth strategies, and recent developments (such as expansions, new product & technology launches, acquisitions, partnerships, agreements, and joint ventures) associated with the metal injection molding market.
Reasons to buy the report:
This report will help leaders/new entrants in this market have a better understanding of the metal injection molding market. It will provide information on key market drivers, restraints, challenges, and opportunities. The report will help gain insights regarding competitors and their positions in the metal injection molding market.