The global metal injection molding market is expected to grow from USD 2.72 Billion in 2017 to USD 5.02 Billion by 2025, at a CAGR of 7.96% during the forecast period from 2018-2025. Flourishing demand for specialized metal injection molded parts from automotive, medical & orthodontics, industrial, and electrical & electronics industries are factors that are driving the market growth.
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Stainless steel segments expected to progress at a CAGR of 10.14% in 2018-2025
Material type is segmented into stainless steel, low alloy steel, soft magnetic material, and others. Owing to its high strength, corrosion resistance and relatively low price, stainless steel is has emerged as the most preferred as a molding material. Thus stainless steel segment is projected to grow at the highest CAGR of 10.14% over the forecast period.Widespread demand for the specialized magnets from electric and electronics industry was the main driving factor for soft magnetic material segment to account for a significant market share in 2017.
Electrical & electronics segment had a market value of USD 1.31 billion in 2017
End user industry is divided into electrical & electronics, automotive, industrial, consumer products, medical & orthodontics, and firearms & defense.Industry wide trend for miniaturization of electronics devices is leading to huge demand for the smaller electronics parts with optimum performance at a cost effective price. Thus electrical and electronics segment emerged as the leader with USD 1.31 billion revenue in 2017.Medical and orthodontics segment is also expected to account for a significant market share in 2018-2025, on account of growing demand for medical devices.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa.Rapid growth of end user industries such as electrical and electronics, consumer products, medical and orthodontics propelled Asia Pacific region to emerge as the largest market for the metal injection molding with USD 1.05 billion revenue in 2017. Owing to its well-developed electronics, automotive and firearms and defense industriesNorth America region is alsoprojected to attain a robust market share in 2017.
Major players in the global metal injection moldingmarket areIndo-MIM, Dynacast International, ARC Group Worldwide, Phillips-Medisize, Smith Metal Products, NetShape Technologies, Dean Group International, CMG Technologies, InjectMax, GKN Plc, Britt Manufacturing, Cypress Industries, Sintex, ealTechnik AG, ATW Companies among others. Rising demand for personal electronic devices such as smartphones, smart watches, tabs are leading to increasing utilization of metal injection molding process.
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