Metal Injection Molding market size was around USD 2.78 billion by revenue, at the end of 2018. It is anticipated to grow at CAGR of 7.9% to reach USD 3.77 billion by 2023. The Metal Injection Molding market is an escalating market with an annual growth estimated to be 7.9% globally. The increasing demand for the synthesis of complex and smaller injection moldings is driving this market towards prosperity.Cobra, a famous producer of golf equipment, has used the metal injection molding technique to produce a high-performance wedge. The King MIM Wedge is made of 304 Stainless Steel using a robotic polishing procedure which is hydraulically computer controlled.
Market Drivers and Restraints:
The increase in demand for compactification of electronics is a driving force to the metal injection molding industry as there is a demand for complex injection moldings.The increasing market of 3D printers, pulls the metal injection molding market towards profits, creating many opportunities in the global market.However, centralization of the global market majorly in the Asia Pacific may restrain the market expansion globally.
To know more, click on the link below:
Report segmented as
By Material Type:
Low Alloy Steel
Soft Magnetic Material
By End-use Industry:
Electrical & Electronics
Medical & Orthodontics
Firearms & Defense
By geography, the Global Metal Injection Molding market is segmented as Latin America, Europe, Asia Pacific, Middle-East & Africa, and North America.Asia Pacific had the highest market share in the year 2018 and is expected to be the fastest-growing market, attributed to its high CAGR, increasing demand from growing end-use industries like electrical & electronics, automotive etc., and scope of future opportunities, mainly in developing countries like India and China. The cheap availability of labor and resources also adds to the growth of the market in this region.Europe and North America are not in the positive growth slope of the market. Although, these regions possess high market shares, due to the low growth rate these regions may witness a downfall in the aforementioned period.The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Metal Injection Molding market in these regions are slow growing in nature.
Important Market Players:
By the end of 2018, Indo-MIM (India), Dynacast International (US), ARC Group Worldwide (US), Smith Metal Products (US), NetShape Technologies (US) Husky Injection Molding Systems Ltd., InjectamaxInternational,LLC., Tanfel Metal, D&K ENGINEERING, Reaux Medical Molding, Mahler GmbH and BMI Fours Industriels are the leading shareholders of the Global Metal Injection Molding market. These companies are majorly focused in the research & development of industry-specific injection moldings which are compact and of low making cost.
View a sample and decide @ https://www.marketdataforecast.com/market-reports/metal-injection-molding-market#request_sample
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
For more information:
Sales Manager at Market Data Forecast