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Ceramic injection molding (CIM) and metal injection molding (MIM) are utilized for manufacturing parts with greater strength, or more complex shapes, while imparting a better surface finish. Both MIM and CIM additionally impart a higher manufacturing capacity than conventional molding methods. They both also include the process called powder injection molding (PIM), which combines powder metallurgy based material flexibility and plastic molding based design flexibility, that help create net-shape ceramic and metal parts. The molding process involves a mixture of metal or ceramic powders along with polymer binders to generate components that show plastic properties. The feedstock constitutes 60% of metal or ceramic materials while the remainder volume is the binder.
The global metal and ceramic injection molding market was valued at US$1.6 bn in 2013 and is expected to expand at a CAGR of 11.50% from 2014 to 2020. The market is primarily augmented by the growing investments made in the end-user industries of medical and healthcare which will propel the demand for superior medical devices. The market is also likely to be driven by the developments in the electronics and defense industries that will open up optimistic scope of implementation for metal and ceramic injection molding over the coming years.
APAC Demand for Metal and Ceramic Injection Molding Continues to Rise
Asia Pacific led the global metal and ceramic injection molding market in terms of demand volume till 2013, owing to a strong presence of multiple large-scale industries that are showing a swift growth rate. This includes automotive and electronics, where metal injection moldings perform a key role of providing superior components. Asia Pacific already took up nearly 45% of the global metal and ceramic injection molding market in 2013 and is expected to continue leading the market over the coming years. Europe and North America are also expected to scale up their use of these technologies, while Asia Pacific is expected to witness the leading growth rate for PIM in the near future, due to rising industrial activities and growth in the electronics industry in the region.
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Smaller Component Demand Drives Demand for Powder Injection Molding
The demand for PIM expected to rise over the coming years, owing primarily to the rising demand among key end users for the miniaturization of complex components that require high performance materials. The growing demand for miniature components is also supplementing the demand for micro injection molding in different materials, especially in stainless steel and silicone. These materials are used to produce micro components in medical devices that are used in invasive surgeries, IV therapy, advanced drug delivery, and vascular therapy. Factors such as rising demand for powder injection molding components in the medical and healthcare industry is expected to boost demand for PIM components during the forecast period. Demand for PIM technology in the medical and healthcare industry is increasing for the manufacture of a variety of components. The technology has become highly prominent; the delivery and quality of metal injection molding processors is assured through several certifications such as QS 9000 and ISO 9002. Furthermore, increase in usage of firearms in the defense industry, particularly in the U.S., is likely to boost the growth of the metal injection molding industry.
Demand for metal and ceramic injection molded components was the largest from the automotive sector in 2013 and accounted for over 20% of the global market share in 2013, due to substantial investments by manufacturers due to high demand and changing lifestyles through rising disposable income of consumers. Growth in investment in the medical and healthcare industry across the globe is also expected to support the market growth for powder injection molding over the next few years. Electronics and defense are some of the other promising industry sectors where future growth is likely to boost the demand for the metal and ceramic injection molding market.
Major players in the metal and ceramic injection molding industry include Advanced Materials Technologies Pte. Ltd., ARC Group, Epsom Atmix Corporation, Plansee Group, PSM Industries Inc., and Indo-US MIM Tec Pvt. Ltd.
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