The global metal and ceramic injection molding market are expected to experience brisk over the forecast period growth due to increased demand for minimally invasive cosmetic surgery in the developed regions. Massive investment by manufacturers in this industry is presumed to fuel the metal and ceramic injection molding market growth over the next eight-year period.
Metal injection molding (MIM) and ceramic injection molding (CIM) technology are complex processes in which materials such as metals & ceramic are put into machine techniques. The procedure is managed with high accuracy and precision to provide the required products for a particular industry. Metal and ceramic injection molding technologies function as two segments in powder injection molding (PIM). PIM includes MIM and CIM, which are innovative manufacturing techniques used to produce complex and high-volume components.
The materials which are used to manufacture several end components include titanium alloys, stainless steel, soft magnetic alloys, and low-alloy steels. The primary applications include medical equipment, electronic gadgets, firearms, and automotive components. These technologies provide design flexibility for multiple applications across various industries.
Rapid industrialization, particularly in the developing regions is estimated to fuel market development over the forecast period. Massive growth in the automobile industry coupled with huge production demand for this technology is presumed to have a positive impact on the industry growth over the forecast period. Growth and development in the medical & healthcare sectors are expected to boost the industry demand further over the next eight-year period. The rise in disposable income and increasing standards of living in the developing regions are estimated to enhance the market growth. Several advantageous characteristics involved with the usage of these technologies are presumed to contribute to the metal and ceramic injection molding market expansion.
Low operational cost along with designing flexibility delivers economy of scale and reduces the time taken to manufacture a product by eliminating production steps such as finishing and machining. The manufacturing process involves mainly four stages, which are metal & ceramic injection molding feedstock preparation, depending on injection modeling, and sintering. Increasing demand for consumer products such as eyeglasses and watches is expected to enhance industry growth in the next few years for the metal and ceramic injection molding market. The growing firearms industry is presumed to complement the metal and ceramic injection molding technologies demand. Massive demand for minimally invasive cosmetic surgery in the developed regions is expected to boost industry development over the forecast period.
Limitation on finished fragments size and weight is presumed to hinder the market demand in the next few years. Several new applications for powder injection molding are assumed to open up new opportunities for the industry vendors over the next eight-year period. High substitution threats from other molding techniques due to user-friendliness and easy availability are expected to challenge the industry demand. Superior substitute technologies which offer properties such as easy tooling cost-efficient operations and, moderate working requirements have challenged the industry growth in recent years.
The metal and ceramic injection molding market can be classified based on end-users as automotive, medical & healthcare, consumer’s products, aerospace, industrial machinery, electronics, and defense among several others.
Key regional markets include North America, Central & South America, Europe, the Middle East & Africa, and the Asia Pacific. Developed regions such as North America are estimated to witness positive growth over the next eight-year period owing to huge demand from the healthcare sector. Europe is expected to see rapid growth due to increasing demand from Germany and Italy-based automotive manufacturers.
Emerging economies including the Asia Pacific and Central & South America are anticipated to experience robust industry growth over the next eight years period owing to rising awareness and high demand for metal and ceramic devices. Emerging economies including India and China are presumed to lead the regional growth in the next few years due to rapid industrialization. Innovation and development towards quality products are anticipated to enhance further the global industry growth over the forecast period.
Vendors are investing in research and development initiatives to generate advanced products which give them a competitive advantage over other vendors. The companies are expected to take active measures to gain market share and to deliver better quality products to their customers. Prominent industry participants include AB Components, Hong Ya Industrial, Abbot Furnace Company, Cypress Industries, G-Mag International, Datumag Inc., Affinity International LLC., and Britt Manufacturing Co.
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The COVID-19 pandemic is expected to restrain the manufacturing industry growth in the near future, which in turn is expected to result in checkered growth for machinery manufacturing companies. Furthermore, end-user companies have put on hold the existing orders until the time the lockdown situation is lifted. The report will account for Covid19 as a key market contributor.