Global Metal Injection Molding (MIM) Market Size, Industry Trends, Historical Data, Growth Analysis Forecast to 2030

The global metal injection molding (MIM) market size was worth around USD 4120 million in 2022 and is predicted to grow to around USD 8020 million by 2030 with a compound annual growth rate (CAGR) of roughly 8.68% between 2023 and 2030.

Several key features of the international metal injection moulding (MIM) market are explored in greater depth in this study. Existing growth determinants and constraints are discussed at length. The study provides a thorough analysis of the current metal injection moulding (MIM) market as well as its potential growth possibilities and obstacles in the future.

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Metal Injection Molding (MIM) Market: Overview

Plastic injection moulding and powdered metallurgy come together in metal injection moulding (MIM), a crucial and widespread production method. Complex metal components are created as a result of this procedure. MIM is one of the most cost-effective technologies utilised for the mass manufacture of small yet delicate components in industries that deal with heavy metals. Consistency and accuracy are other benefits of this method. Fine metal powders, often made of stainless steel, titanium, or copper, are mixed with a thermoplastic binder material to initiate the MIM process.

Principal Observations:

• Our research analyst projects that, between 2023 and 2030, the worldwide market for metal injection moulding (MIM) will expand at a compound annual growth rate (CAGR) of 8.68%.

• In 2022, the worldwide market for metal injection moulding (MIM) was estimated at $4,120,000,000; by 2030, that number is expected to rise to $8,020,000,000.

• Due to the MIM process's low production cost, the metal injection moulding industry is expected to expand rapidly in the coming years.

The low cost of the MIM process is a major factor in its increasing popularity.

Metal injection moulding (MIM) is expected to expand over the world since it is more cost-effective than conventional methods of production like machining or investment casting. Savings from MIM are primarily the result of two factors: less waste and less labour. Since MIM is so automated, it greatly lessens the need for labor-intensive manual tasks. More time and money can be saved as a result of this, particularly in high-volume production. The MIM process results in less waste because fewer materials are wasted as scrap. In addition, the output accuracy of metal injection moulding is very high. Secondary processes, such as assembly or finishing, are typically not required and incur additional costs for producers. The favourable environment for implementing the MIM process may lead to increased interest in this technique in the years to come.

The high entry price of MIM tools will limit their market growth.

The high cost of setting up MIM facilities, due to the expense related to tooling systems utilised in this approach, may limit the global sales volume of the metal injection moulding business throughout the projection period. A debinding oven, injection moulding machine, and sintering furnace are all necessary pieces of machinery. All of this equipment is quite pricey, which may make entry into the market difficult for startups. In addition, companies may discover that it is more profitable to partner with well-established MIM producers, which further discourages new entrants.

The expanding use of the MIM methodology in the medical field promises new prospects.

The healthcare industry is one of the fastest-growing sectors, and as a result, the metal injection moulding (MIM) market is predicted to expand at a faster rate. More people needing medical attention, more accidents, higher expectations for the quality of medical care, higher overall healthcare costs, and so on have all contributed to a greater need for cutting-edge, specialised medical technology. With this opening, MIM processors can investigate making dental components, orthopaedic implants, and other medical equipment.

Raw material price volatility will be a drag on market expansion.

Both metal powders and binders were employed as key basic materials in metal injection moulding. Moulding aids fall into two categories: inorganic materials like clay and organic materials like cellulose. Raw material and energy costs, supply and demand, and market circumstances around the world may all have an impact on the final selling price of these goods. Because MIM is linked to so many factors, this presents a formidable obstacle for businesses operating in the metal injection moulding industry.

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The Global Metal Injection Molding (MIM) Market is segmented based on product, application and region

Global Metal Injection Molding (MIM) Market: Product Segment Analysis

● Carbonyl Method

● High-Pressure Gas Atomization

● Ultra-High Pressure Water Atomization

Global Metal Injection Molding (MIM) Market: Application Segment Analysis

● Automotive

● Mechanical

● Consumer Electronics

● Other

Recent Changes:

• Strategic partnership between Detroit, Michigan's TriTech Titanium Parts LLC and Toronto, Ontario's Tekna Holding ASA was announced in June 2023. Together, they used a Desktop Metal P1 Additive Manufacturing machine for Binder Jetting titanium pieces, and the result was a success. Tekna's titanium powder distribution services round out TriTech's binder jet 3D printing offerings.

• Manufacturer of hard material goods used for wear protection and cutting tools CERATIZIT Group declared in June 2023 that all of its facilities had switched to using only renewable energy sources for power. By 2025's close, the firm hopes to no longer produce any emissions at all.

The global metal injection molding (MIM) market is led by players like

● Dynacast International

● Indo-MIM Pvt Ltd

● ARC Group Worldwide Inc

● CMG Technologies

● Parmaco Metal Injection Molding AG

● Smith Metal Products

● OptiMIM

● NetShape Technologies Inc

● Advanced Powder Products Inc

● Dean Group International

● FloMet LLC

● MIM International

● Catalus Corporation

● Nippon Piston Ring Co Ltd

● PSM Industries Inc

● Praxis Technology (Now part of Sandvik AB)

● Form Technologies

● Makuta Technics Inc

● Kinetics Climax Inc

For North America to overtake Europe as the market's primary source of income

North America, specifically the United States and Canada, is predicted to lead the global metal injection moulding (MIM) industry. The increased production of increasingly miniaturised and complicated electronic components using the MIM technique is a major driver of this expansion. More money could be made if major participants in the business were present, and if they took increasingly strategic steps with countries they allied with.

It is expected that rising demand for MIM-produced automotive components will propel the European market. Greater spending on electric vehicles and aeroplanes could open up new opportunities for expansion. The MIM approach is ideally suited to the region's demanding quality standards and cutting-edge production capabilities. Higher growth in Europe can be attributed to the existence of manufacturers as well as interactions between research institutes and companies.

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