Dublin, May 09, 2024 (GLOBE NEWSWIRE) -- The "Metal Injection Molding Market Report by Material Type, End Use Industry, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global metal injection molding industry is experiencing significant growth, with expectations to almost double from a value of US$ 4.2 billion in 2023 to US$ 9.1 billion by 2032. This growth is anticipated to occur at a compound annual growth rate (CAGR) of 9% over the forecast period from 2023 to 2032. The expansion has been largely attributed to the method's precision and cost-efficiency, which cater to the demanding automotive sector and the increasing need for lightweight and high integrity components.
The metal injection molding (MIM) market has seen a surge, driven by factors such as the transition of manufacturers from traditional fabrication methods to MIM, due to its various operational benefits. MIM enables the production of components that exhibit excellent corrosion resistance, thermal and dimensional stability, and high mechanical strength. This scalability promotes a wide array of industrial applications, including an influencing presence in the medical field for the creation of intricate surgical tools.
Strategic Moves and Urbanization Uplift Market Horizons
In addition to advancements within the industry itself, an array of external factors has been identified as influencing market growth. Urbanization and industrial development, especially in burgeoning economies, have elevated the market’s prospects. Furthermore, strategic alliances and an augmented focus - and concurrent investment - in research and development to further innovate within the MIM sphere are bolstering the market landscape. These factors collectively contribute to a dynamic market environment poised for continued evolution.
Market Segmentation Highlights and Regional Outlook
The market report segments the global metal injection molding market based on material, end-use industry, and region. A comprehensive analysis shows significant demand across varied segments, including stainless steel and low alloy steel, each catering to diverse industries from automotive and electronics to medical and defense sectors. Regional analysis notes a robust market presence in North America and the Asia-Pacific region, with countries like the United States, China, and India at the forefront of market consumption and innovation.
The Competitive Landscape
The market’s competitive environment is dynamic, with key players focusing on technological advancements and capacity expansions to meet the rising demand for MIM products. The comprehensive competitive landscape includes prominent industry participants, reinforcing the market's vigorous nature and the relentless pursuit of excellence and innovation among competitors.
Companies Featured
- Amphenol Corporation
- ARC Group Worldwide Inc.
- ATW Companies Inc.
- CMG Technologies
- CN Innovations Ltd.
- Dean Group International Ltd.
- Ernst Reiner GmbH & Co. KG
- Metal Powder Products LLC
- Parmaco Metal Injection Molding AG
- Sintex a/s
- Smith Metal Products
- Tanfel Metal
Key Attributes
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $4.2 Billion |
| Forecasted Market Value (USD) by 2032 | $9.1 Billion |
| Compound Annual Growth Rate | 9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3tsdl9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
