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Metal Injection Molding Market Analysis | Recent Market Developments | Industry Forecast to 2019-2026

 



(EnergyIndustry.Net, December 23, 2019 ) Market Overview
Metal injection molding is a metalworking process in which finely powdered metal is mixed with binder material to create a feedstock that is then shaped and solidified using injection molding. The molding process allows high volume, complex parts to be shaped in a single step. After molding, the part undergoes conditioning operations to remove the binder and densify the powders.

Finished products are small components used in many industries and applications. MIM materials are comparable to metal formed by competing methods, and final products are used in a broad range of industrial, commercial, medical, dental, firearms, aerospace, and automotive applications.

The global metal injection molding market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period.

Download free sample: https://www.datamintelligence.com/download-sample/metal-injection-molding-market

Market Dynamics
Rising demand for the healthcare industry, increasing technological advancements and rising demand for lightweight & smaller automotive parts are the major driving factors for the market growth. The rising demand for healthcare industry is the major driving factor for the market growth. The ability to produce high volumes of precision components using MIM has seen its use grow across the medical sector in recent years. Metal injection molding (MIM) capabilities lend to create the features for today's unique medical device products.

Companies have experience in assisting its customers in design for manufacturability of their MIM components for many types of medical devices. Surgical Instruments - ablation electrodes, endoscopic graspers & scissors, forceps, instrument bodies, scalpel handles, Orthopedic - orthopedic surgery tools, screws, spine implants & external fixation, trauma plates and Hearing Devices - housings, implants are the various kind of devices use MIM components. Smith Metal Products is a MIM parts manufacturer for the medical industry.

Segment Analysis
By end-use industry, the metal injection molding market is segmented into automotive, industrial, firearms, aerospace & defense, electrical & electronics, consumer goods, and medical & orthodontics. The global metal injection molding market size by end-use industry was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Consumer good is expected to hold high CAGR rate in the forecast period. MIM process is broadly used in the manufacture of components consumer goods such as phone casings, camera components, charging cables, laptop hinges, mobile connectors, and among others.

The automotive sector has become a major consumer of metal injection molded parts. High strength, high complexity parts are used in engines, gearboxes, turbochargers, locking mechanisms, steering systems, and electronic systems. Companies are manufacturing MIM rocker arms for automotive industry. For instance, metal injection molded rocker arms are produced by Schunk Sintermetalltechnik GmbH, Germany. These arms are used in BMW engines. It featured a hollow configuration, saving weight, which is difficult to achieve by other processes.

The global metal injection molding market size by material type was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Stainless steel is expected to grab the major market share for in the forecast period due to its lower price as compared to other material types. The extensive application of stainless steel in various end-use industries is the major impacting reason for market growth worldwide. These materials are manufactured from pre-alloyed or elementally blended stainless steel and include austenitic, ferritic, and precipitation hardening grades.

Companies are launching metal injection molding with material type stainless steel, with a combination of high strength, hardness, and wear resistance with moderate corrosion. For instance, Optimum has launched a few products in the market. MIM – 316L, MIM – 420, MIM – 440 C are the few products which include excellent strength, hardness and wear resistance.

Geographical Analysis
The Asia Pacific metal injection molding market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The Asia Pacific is expected to dominate the global metal injection molding market in 2018 and estimated to hold largest market size over the forecast period (2019-2026). The growing interest for miniaturization of consumer electronics and increasing automotive industry worldwide are the major impacting factor for the growth of the market Asia Pacific.

The production cost in this region is lower as compared to the other regions because the prominent players from the Asia Pacific are operating their production facilities in the region. For instance, BASF has set up a new Catamold® production facility at its Kuanyin site in Taiwan. In addition, BASF has opened a new technical service lab for the company’s MIM feedstock business in Shanghai, China. The new technical service lab for Catamold® is located within BASF’s Innovation Campus Asia Pacific in Pudong, providing technical support as well as customer training.

Competitive Landscape
The metal injection molding market is competitive with existing players in the market.

Some of the major players include MIM India Company, Tanfel Metal, Husky Injection Molding Systems Ltd., Reaux Medical Molding., Injectamax International, LLC., Fours Industriels B.M.I, Parmaco Metal Injection Molding AG, Optimum, ARC Group Worldwide Inc., Smith Metal Products and Netshape Technologies Inc.

The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the Metal Injection Molding Market.

In April 2018, Höganäs AB, has developed a new product venture focused on the areas of additive manufacturing and metal injection molding (MIM).

BASF has set up a new Catamold® production facility at its Kuanyin site in Taiwan. In addition, BASF has opened a new technical service lab for the company’s MIM feedstock business in Shanghai, China.

Optimum has launched few products in the market. MIM – 316L, MIM – 420, MIM – 440 C are the few products which include excellent strength, hardness and wear resistance.

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Sai Kiran
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DataM Intelligence

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+1 877 441 4866

pr@datamintelligence.com

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