Metal and ceramic injection molding are used to produce metal components. These technologies offer high accuracy and precision to develop desired and complex products. A combination of the metal and ceramic injection molding technology is popularly known as powder injection molding. Electronic gadgets, medical equipment, firearms, and automotive components are some of the primary applications of the metal and ceramic injection molding.
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.
Strong growth in the manufacturing industries across developing regions is expected to propel the market growth of ceramic injection molding. This technology is largely used across the automotive, electronic, healthcare industry for developing various complex equipment. Also, 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.
Increasing adoption of metal and ceramic injection across the aerospace industry for designing complex structures is expected to bring new market opportunities in the near future. Metal and ceramic injection are used to produce complex and reliable internal and external structures of aircraft such as aero engines. Thus, 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.
High threat from substitute molding techniques technology owing to easy availability and easy tooling factor is expected to hinder the market growth. Also, these technologies are cost-effective and user friendly which is further restricting the market growth over the forecast period.
For segment 1 information:
Global metal and ceramic injection molding market was valued at US$ 3,194.2 Mn 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.
Manufacturers are taking initiatives to promote and create awareness regarding the metal and ceramic injection technology. This is one of the current trends in the market. For instance, in September 2019, PIM International in partnership with Mesago Messe Frankfurt GmbH showcase to highlight the capabilities of PIM technology and its broad range of application areas at Formnext in Frankfurt, Germany. These include the automotive, aerospace, consumer electronics, medical, and general engineering sectors.
3D printed injection molding tools are gaining traction in the market due to their advanced features. This technology is beneficial in developing high-resolution custom composite parts. Major manufacturers are entering into a partnership to expand their business which is again anticipated to foster the market growth over the forecast timeframe. For instance, in January 2020, Henkel and Fortify announced a new collaboration for 3D printing. The purpose of this partnership is to find innovative solutions for injection mold tooling, prototyping, and low volume production.
Global Metal and Ceramic Injection Moiling Market - Impact of Coronavirus (Covid-19) Pandemic
The sudden occurrence of the novel coronavirus has a major impact on the global metal and ceramic injection molding market owing to the decreasing demand for metal and ceramic molding from various end use industries such as aerospace, industrial machineries among others.
Few Recent Developments