Global Metal Injection Molding Market Report 2021: Forecast Analysis & Recovery to 2027 - vynzresearch.com


Posted September 15, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

 
Metal injection molding is a metalworking process, where fine-powdered metal is mixed with binder material to produce feedstock. This feedstock is then shaped and solidified using the injection molding process. This process allows high volume and complex parts to be shaped at one go in a single step. The metal injection molding market is witnessing decent growth in the last few years and is anticipated to register significant growth during the forecast period. This is attributed to the increasing demand for complex metal injection molded parts from different end-user industries including automotive, electronics, industrial, consumer products, and others.

Based on material type, the metal injection molding market is segmented into stainless steel, low alloy steel, soft magnetic material, and others. Other material type includes tool steel, tungsten, and titanium. Among all these, stainless steel is anticipated to dominate the market by registering the highest CAGR in the coming years. Stainless steel is preferred in the market due to various advantages it offers in terms of superior properties such as high corrosion resistance, excellent elongation and ductility, and others. Parts made from stainless steel are widely used in the marine, food, and medical industry.

On the basis of end-user, the metal injection molding market is categorized into electrical and electronics, automotive, consumer, industrial, medical and orthodontics, firearms and defense, and others. During the forecast period, the electrical and electronics segment is projected to register the highest growth in the metal injection molding market, owing to the increasing demand of small and complex parts in the industry along with the rising demand for miniaturization of electronics devices. The common application of the process in electronics and electric appliances are in sensors, components in ovens or dishwashers, plug connectors in kitchenware, and others.

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The major challenge identified in the metal injection molding market is that the process is expensive for small production capacities. The parts that are one to one manufactured using this process are always more expensive as compared to traditional processes which are expected to hinder the market growth. However, the productions in large volume batches are always cost-effective using this process.

The metal injection molding is a four-step process comprised of preparation of feedstock (metal powders and a thermoplastic binder), injection molding, binder removal, and sintering (elimination of most of the pore volume formerly occupied by the binder).

For few applications which include automotive, medical, and aerospace sectors, hot isostatic pressing (HIP) can be used to remove any residual porosity.

Globally, Asia-Pacific is expected to dominate the metal injection molding market, owing to the increasing demand from the automotive industry along with the rising demand of miniaturization of consumer electronics for complex and small metal injection molded parts. Additionally, rapid industrialization and technological advancement are also expected to fuel market growth in the coming years.

Various companies operating in the metal injection molding industry are undertaking strategic initiatives to gain a competitive edge, which is likely to drive investments in the market over the forecast period. GKN Plc, Dynacast, Dean Group International Ltd., Britt Manufacturing, Cypress Industries, Sintex, Indo-MIM Pvt. Ltd., CMG Technologies, Real Technik AG, and ATW Companies are among the major players operating in the metal injection molding market.

Source: VynZ Research
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Last Updated September 15, 2021