Rising demand for high density and corrosion-resistant stainless steel components is driving metal injection molding market revenue growth
Metal Injection Molding Market Size – USD 3.34 Billion in 2021, Growth – at a CAGR of 8.1%, Trends – Rising awareness about benefits of metal injection molding process
The global Metal Injection Molding Market size is expected to reach USD 6.78 Billion in 2030 and register a revenue CAGR of 8.1% over the forecast period, according to latest report by Reports and Data. Increasing government investments in defense equipment is driving metal injection molding market revenue growth.
Metal injection molding is a versatile, cost-effective, and innovative process that provides product designers and production engineers with versatility when working with metal alloys. Metal is an excellent replacement for plastic and ceramic components as they are unable to perform as expected. Metal injection molding focuses on quality and precision, and the process is closely monitored to ensure that it meets the needs. When a metal alloy is selected for a specific application, geometry of component is constrained by cost of shaping operations. With formation of net shape parts in the tool, metal injection molding helps to overcome this issue. Metal injection molding has advantages such as resistance to wear and corrosion, thermal stability, high mechanical strength, and dimensional stability.
Get a sample of the report: https://www.reportsanddata.com/sample-enquiry-form/1443
Top Companies:ARC Group Worldwide, INDO-MIM, Smith Metal Products, DK ENGINEERING, Tanfel Metal, Husky Technologies, Connor Corporation, ASH Industries, Redstone Manufacturing, and Advanced Powder Products, Inc.
Further Key Finding from the Report Suggestion:
- On May 21, 2019, Desktop Metal, a Massachusetts-based manufacturer of 3D printing solutions, announced a strategic partnership with Indo-MIM, an India-based fully integrated metal injection molding parts producer with capabilities and proficiency in design, tooling, materials, and a full range of finishing and assembly operations. The partnership enables Desktop Metal and Indo-MIM to provide innovative solutions that will allow companies worldwide to design and produce additively manufactured metal parts at scale while also reducing time to market.
- Others segment accounted for a moderate revenue share in 2021. Others include consumer products, and energy infrastructure, among others. One of the key factors driving demand for consumer products is increasing demand for watches, eyewear, and other consumer products. Metal injection molding has made significant progress in establishing itself as a low-cost manufacturing technology for innovative watch designs ranging from everyday stainless-steel timepieces to luxury diamond-encrusted timepieces. For instance, SWATCH AG, was among the first to use stainless steel metal injection molding watch cases. Furthermore, metal injection molding enables eyewear manufacturers to design intricate spectacle frames in a much more cost-effective and high-volume manner.
- Stainless steel segment accounted for largest revenue share in 2021. Stainless steel has excellent stiffness, wear resistance, and corrosion resistance properties. It's a popular material for metal injection molding. Stainless steels benefit from metal injection molding as it improves their strength, density, corrosion resistance, and flexibility. In automotive and medical instrument industries, use of metal injection molding for stainless steel is steadily increasing. The initial use and overall success of metal injection molded orthodontic brackets demonstrate corrosion resistance and biocompatibility of metal injection molded stainless steel applications.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
Download Summary: https://www.reportsanddata.com/download-summary-form/1443
The global Metal Injection Molding Market is segmented into:
Material Outlook (Revenue, USD Billion; 2019–2030)
- Stainless Steel
- Low-Alloy Steel
- Tool Steel
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Medical Orthodontics
- Electrical Electronics
- Aerospace Defense
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
Request a customization of the report https://www.reportsanddata.com/request-customization-form/1443
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
Browse More Reports:
Industrial Absorbents Market https://www.reportsanddata.com/report-detail/industrial-absorbents-market
Molybdenum Disulfide Market https://www.reportsanddata.com/report-detail/molybdenum-disulfide-market
Metal Injection Molding Market https://www.reportsanddata.com/report-detail/metal-injection-molding-mim-market
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
LinkedIn | Twitter | Blogs | Insights
Read the innovative blog at https://www.reportsanddata.com/blogs
Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports