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Press Release: Metal and Ceramic Injection Molding Market to Surpass US$ 7,675.1 Mn By 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Metal and ceramic injection molding are technologically advanced manufacturing processes used in the production of the different complex and precision components. Metal and ceramic injection molding together called powder injection molding (PIM). This technology provides flexibility in design for numerous choices of materials.
The global metal and ceramic injection molding market is estimated to account for US$ 3,194.2 Mn in terms of value by the end of 2019.
Drivers:
Robust demand for the technology from healthcare and medical industry is primarily fueling the market growth of the metal and ceramic injection molding. This technology is used to develop medical equipment such as sensors, catheter tips, implants, tubes, and micro-optics. Moreover, the growing demand for miniature components in producing medical micro parts across the healthcare industry is again anticipated to propel the demand for micro injection molding.
Rapid growth in the firearms industry is fostering the market growth of the metal and ceramic injection molding. This technology has key role in developing advanced defense equipment that is complex-shaped and heavyweight. Metal injection molding is widely adopted across the firearms industry for manufacturing of different types of firearms required in the defense industry. Thus growth in the firearms industry is propelling the market growth.
Figure 1. Global Metal and Ceramic Injection Molding Market, Revenue Share (%), By Region, 2019
Asia Pacific region dominated the global metal and ceramic injection molding market in 2019, accounting for 54.9% share in terms of value, followed by Europe and North America, respectively.
Market Restraints
Limitation on the manufacturing of three-dimensional products is expected to hinder the market growth. The challenges associated with the size and weight of the molded parts are hindering the market growth.
The high price of raw materials used in the technology is restricting the adoption of metal and ceramic injection molding which increases the overall price of the metal injection molded products. This factor is expected to hinder the market growth over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 3,194.2 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 11.5% | 2027 Value Projection: | US$ 7,675.1 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Advanced Material Technologies Pte Ltd., ARC Group Worldwide Inc., CMG Technologies Ltd., Epson Atmix Corporation, Indo-US MIM Tec Pvt. Ltd., Kinetics Climax Inc., Plansee Holding AG, PSM Industries and Nippon Piston Ring Co. Ltd |
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| Restraints & Challenges: |
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Market Opportunities
Expanding applications of the powder injection molding is projected to provide enormous market opportunities. This technology is rapidly gaining demand from emerging applications such as electrical, electromagnetic, and alternative energy industries. Moreover, increasing use of powder injection molding technology in the manufacturing multitude of structures that can be molded in armatures or stators is further projected to propel the market growth of the metal and ceramic injection molding.
Growing awareness regarding the low-cost and design flexibility deliver by metal and ceramic injection molding are expected to offer potential market opportunities. Rising demand for consumer products such as eyeglasses and watches is again projected to foster the market growth. Moreover, high demand for minimally invasive cosmetic surgery across developing as well as developed regions is further projected to propel the market growth.
Figure 2. Global Metal and Ceramic Injection Molding Market – Opportunity Analysis
Global Metal and Ceramic Injection Molding market was valued at US$ 3,194.2 Mn market in 2019 and is forecast to reach a value of US$ 7,675.1 Mn by 2027 at a CAGR of 11.5% between 2019 and 2027.
Market Trends/Key Takeaways
The growing trend of using stainless steel for metal injection molding due to the high demand for steel products is expected to augment the market growth. Stainless steel products are gaining huge demand from the automotive industry due to their complexity and high strength properties. Also, a complex and reliable structure such as electronic systems, engines, and locking mechanisms can be produced by using this technology. Thus, the growing demand for stainless steel products is propelling the market growth.
Acquisition and merger by major players is a key trend in the market. For instance, in October 2018, Superior Technical Ceramics, based in St. Albans Vermont, has been acquired by Artemis Capital Partners, based in Boston, Massachusetts. Superior Technical Ceramics is one of the innovators in advanced ceramic technologies and serve its product across aerospace, automotive, defense, energy, industrial automation, scientific and research, and medical sectors.
Figure 3. Global Metal and Ceramic Injection Molding Market, Revenue Share (%), By End-Users, in 2019
The others segment dominated the global metal and ceramic injection molding market in 2019, accounting for 31.10% share in terms of value, followed by automotive and industrial machinery segment respectively
Global Metal and Ceramic Injection Molding Market - Impact of Coronavirus (Covid-19) Pandemic
The novel Coronavirus (COVID-19) has impacted almost all the industries globally including industrial automation and machinery that is the major end-user of the metal and ceramic injection molding market. Thereby, also impacting the growth of the market till the year 2021.
Value Chain Analysis
Competitive Section:
Company Names
The global metal and ceramic injection molding market is estimated to account for US$ 3,194.2 Mn in terms of value by the end of 2019. The powder injection molding technology is the combination of the metal and ceramic injection molding technology. This technology is widely used in various end use industry such as automotive components and medical equipment.
Market Dynamics
The growth in the aerospace industry due to increasing investment by the government for improving service and passenger comforts is projected to foster the market growth of the metal and ceramic injection Moreover, increasing disposable income coupled with improving the living standard of the consumers is further anticipated to augment the market growth of the metal and ceramic injection molding over the forecast period.
The increasing use of powder injection molding technology in the manufacturing multitude of structures that can be molded in armatures or stators is further projected to propel the market growth of the metal and ceramic injection molding.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective
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