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Market Size in 2019 – USD 3.03 Billion, Market Growth - 6.3% CAGR, Market Trends – High demand from developing nations.
New York, October 22, 2020 - The global Metal and Ceramic Injection Molding market is forecasted to reach USD 4.95 Billion by 2027, according to a new report by Reports and Data. Metal Injection Molding and Ceramic Injection Molding are together known as powder injection molding. The injection molding technique is used to manufacture products, due to benefits, such as high strength, improved surface finish, and the ability to make complex products. Metal and ceramic injection molding imparts an enhanced production capacity to the conventional molding process. The market is witnessing high demand due to the increasing consumption of complex parts that require high-performance materials and reduced sizes.
The market has registered high demand from various end-use industries, such as automotive, aerospace, electronics, and healthcare. Increasing demand for the market from the firearms industry, especially in the region of North America, is also leading to a surge in the demand of the market. Limitations in the weight and size of the molded parts, along with the high prices of the materials, are expected to hinder the demand for the product.
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The COVID-19 impact:
The COVID-19 pandemic has led to lockdowns in major countries of the world. This has led to the operations of many industries being halted. Industries that find applications for metal and ceramic injection molding, such as the automotive and electronics industries, are also not operating in the current scenario. This has led to a decline in the demand for the product. Major manufacturers involved in the market have also halted operations currently, which has led to a reduction in the supply. The medical industry is still operating in the current scenario, which has stopped the demand from going down drastically.
It is anticipated that once the COVID-19 pandemic is over and the situation becomes normal, the industries will start operating again, and the demand for the product will rise. Major manufacturers, who have currently halted operations due to the pandemic, are involved in innovations of metal and ceramic injection molding. This would help them capture a larger market share in the future. This will also create a greater overall market size.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/metal-and-ceramic-injection-molding-market
Further key findings from the report suggest
- Zirconia is anticipated to grow at a CAGR of 4.9% in the forecast period. The product provides benefits, such as durability and strength. The product is used in various applications, such as oxygen sensors, pump seals, valves, precision ball valves, and medical prostheses.
- In terms of Applications, Firearms is forecasted to grow at a CAGR of 6.2% in the forecast period. Usage of metal and ceramic injection molding leads to increased speed of production, along with better features of the product, such as better grips. Also, the product can be customized extensively.
- The Offline Segment occupied 76.6% of the market share in 2019 owing to the high involvement of the product, where consumers like to physically examine the product before purchasing to make sure that it fits their requirements.
- Latin America is forecasted to grow at a CAGR of 6.0% in the forecast period. The region has significant demand owing to the presence of countries, such as Brazil and Argentina, in the region where electronics and automotive industries drive the consumption of the market. The growth of the medical industry in the region also leads to increased market size in the region.
- China is one of the largest consumers of the metal and ceramic injection molding market. This is due to the increasing industrialization in the region. Presence of various end-use industries, which drive up consumption, thus leading to an increase in the market size.
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For the purpose of this report, Reports and Data have segmented into the global metal and ceramic injection molding market on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Iron and Steel
- Stainless Steel
- Copper
- Aluminum
- Alumina
- Zirconia
Application Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Medical
- Electronics
- Firearms
- Defense/Aerospace
- General Industrial
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online Stores
- Offline Stores
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- The U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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