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Low raw material costs and large investments in manufacturing industries are driving the growth of the metal injection molding market.
Market size – $ 3.34 billion in 2018, market growth – CAGR of 8.4%, Market Trends – Rapid urbanization and industrialization
NEW YORK, May 27, 2019 (GLOBE NEWSWIRE) – The global market for metal injection molding is expected to reach $ 6.47 billion by 2026, according to a new report from Reports and Data. Metal injection molding (MIM) is an advanced molding process that gives the desired shapes to molten metals. The growing demand for a high volume of metal parts in the automotive and military sectors is fueling market demand. Manufacturers prefer MIM over traditional ones because there is less waste of raw materials, it is more profitable and uses less time for production.
The market is motivated by rapid industrialization, rapid urbanization, low raw material costs and increasing investments in manufacturing industries. The digitization of manufacturing components around the world is expected to provide new opportunities for the growth of the economy.
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The growing demand for market products from end-user industries, such as consumer goods, medical devices, automotive and aerospace, is fueling market demand. Technological advances have paved the way for the manufacture of different metal components of different sizes and complexities.
The Asia-Pacific region dominated the MIM market in 2018. The expansion of automotive industries in emerging countries is pushing the MIM market in the region. Domination of the electronics industries in countries such as China, Japan and India increase demand for a metal part and therefore market in the Asia-Pacific region. As the cost of the market product is low in the production region, most key players invest and build their production facilities in these countries.
The other key findings of the report suggest
- Stainless steel held the largest market share at 43% in 2018. The material has applications in a wide range of industries and is also cheaper than its counterparts.
- The material can be rolled into sheets, bars, plates, wires and tubes. It is used in the production of large and small metal components. Its growth rate is expected to be 9.0% over the forecast period.
- Soft magnetic materials are typically used for temporary storage of energy in a magnetic field. It is observed that the material has a growth rate of 6.7% over the forecast period.
- Low alloyed steels have a carbon content of less than 0.10 to 1.00%, and elements are added in the alloy to produce unique abilities. It is commonly used in bearings and aging steels.
- The auto expansion around the world has increased the demand for MIM. The industry held the largest market share of 25% in 2018.
- The automotive sector has become a major consumer of MIM parts. The high strength and high complexity of the parts find their application in gearboxes, locking mechanisms, motors, steering systems, turbochargers and electronic systems.
- The MIM is also used in the manufacture of defense parts such as triggers, slides, impact guns, hammers, front / rear inserts, latches, pullers, trigger, slide rails, magazine latches, ejectors, trigger bars, and rear handlebars. before.
- The aerospace and defense sector held a 19% market share in 2018 and is expected to post a CAGR of 6.8%.
- method Carbonyl had a 33% market share in 2018 and is expected to have a CAGR of 8.4% over the forecast period.
- North America held in the year 2018. The second largest market share of 24% of the region's largest contributor is in the United States.
- The US MIM industry comprises between 25 and 30 commercial coin manufacturers, as well as 15 to 18 captive companies primarily producing medical, dental and firearms components for their own products.
- The United States, stainless steels and low alloyed steels dominate the MIM blend materials, accounting for about 83% of the powders consumed.
- The main participants are ARCMIM, Dynacast, Husky Injection Molding Systems, Tanfel Metal, Injectamax International, LLC. MIM Indian Company, Reaux Medical Molding, D & K ENGINEERING, Mahler GmbH, NetShape Technologies and Smith Metal Products, among others.
To identify the main trends in the sector, click on the link below: https://www.reportsanddata.com/report-detail/metal-injection-molding-mim-market
Segments covered in the report:
For the purposes of this report, Reports and Data have been segmented into the global market for metal injection molding based on product, type of material, end-users and region:
Product Outlook (Revenues, Billions of USD, 2016-2026)
- Carbonyl method
- Atomization of high pressure gas
- Atomization of ultra-high pressure water
Document Type Outlook (Revenue, USD Billions, 2016-2026)
- Stainless steel
- Low alloy steel
- Soft magnetic material
End-User Outlook (Revenues, Billions of USD, 2016-2026)
- automobile
- Medicine and orthodontics
- Electrical and electronic
- Industrial Consumer
- Aerospace and Defense
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Regional Outlook (Revenues, in millions of dollars, 2016-2026)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
Browse More Reports From the Pharmaceutical Category on: https://www.reportsanddata.com/report/category/micro-molding-and-micro-spheres
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