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.

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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.

Market Overview:

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.

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The global Metal Injection Molding Market is segmented into:

Material Outlook (Revenue, USD Billion; 2019–2030)

• Stainless Steel
• Low-Alloy Steel
• Tool Steel
• Bioimplantable
• Titanium
• Copper
• Magnetic
• Tungsten
• Hardmetals

End-use Outlook (Revenue, USD Billion; 2019–2030)

• Automotive
• Medical Orthodontics
• Electrical Electronics
• Aerospace Defense
• Others

Regional Outlook:

• 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?

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