Global Metal Injection Molding (MIM) Market is expected to reach USD 6.52 billion by 2025. Metal Injection Molding (MIM) combines two recognized technologies; “powdered metallurgy” and “plastic injection molding” to offer cost-efficient solutions for complex geometries. The MIM process is executed in four main steps like mixing, injection molding, debinding, and sintering. The Metal Injection Molding Market is estimated to grow at a significant CAGR of 11.9% over the forecast period as the scope and its applications are rising enormously across the globe.
The factors that are playing a major role in the growth of Metal Injection Molding (MIM) market are growing demand for small and complex components from manufacturers, reduction in wastage of raw materials, cost-efficient raw materials, and growing investment in the defense and medical sector. However, strict government policy may restrain overall market growth in the years to come. Metal Injection Molding Market is segmented based on material type, end user, and region.
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The soft magnetic material, stainless steel, low alloy steel, and the other material types could be explored in Metal Injection Molding (MIM) in the forecast period. The other sector comprises tungsten, tool steel, and titanium. The stainless steel sector accounted for the significant market share of Metal Injection Molding (MIM) and is estimated to lead the overall market in the years to come. This could be due to its availability at lower cost in comparison with the other material types.
The market may be categorized based on end users such as firearms & defense, electrical & electronics, industrial, automotive, consumer products, medical & orthodontics, and others that could be explored in the forecast period. The electrical & electronics sector is estimated to grow at a significant CAGR in the years to come. This may be because of growing demand for complex and small metal injection molded parts.
Globally, Asia Pacific accounted for the substantial market share of Metal Injection Molding (MIM) and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be increasing demand from end users like firearms & defense, automotive, industrial, electrical & electronics, and others. The developing countries like India and China are the major consumers of Metal Injection Molding (MIM) in this region.
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