According to our latest market study on “Global Metal Injection Molding Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Material, and Others) and Industry Vertical (Automotive, Electrical and Electronics, Consumer Goods, Firearms and Defense, Medical and Orthodontics, and Others),” the market was valued at US$ 2,458.68 million in 2019 and is projected to reach US$ 4,338.52 million by 2027; it is expected to grow at a CAGR of 7.5% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

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Metal injection molding is a flexible, cost effective, and innovative process that provides versatility to the product designers and production engineers while using metal alloys. Metal act as a good substitute for plastic and ceramics components that are incapable to perform as per requirement. Metal injection molding focusses on quality and precision, as well as the process is closely monitored to meet the requirements. When a metal alloy is chosen for a specific application, the geometry of the component gets limited by the cost of shaping operations. The metal injection molding helps in overcoming this issue with the formation of the net shape parts in the tool. The metal injection molding offer benefits such as resistance to wear & corrosion, thermal stability, high mechanical strength, and dimensional stability.

Various Advantages Offered by Metal Injection Molding to Escalate Metal Injection Molding Market Growth during 2020–2027

Metal injection molding is highly exploited by industries such as automotive, electrical, and electronics. It is highly utilized in the production of consumer electronics. Metal injection molding is gaining momentum in the electronics industry due to the rising demand for small and complex parts in the industry coupled with the increasing demand for the miniaturization of electronics devices. Metal injection molding is utilized to manufacture Apple's Lightning Connector, a component that is produced in huge numbers. Metal injection molding is also used to produce fiber-optic parts, cold plates, heat sinks, and mobile phone parts. For the past few years, the production of portable computing devices, cellular phones, and other personal electronic devices has increased exponentially. The proliferating international smartphone market offers immense possibilities for metal injection molding. Hence, the rise in the adoption of these products drives the metal injection molding industry's expansion. Currently, the automotive sector is a significant consumer of metal injection molded parts. The demand for molded miniature products is escalating in the automotive sector, attributed to their high strength and complexity in their structures. The exponential growth of the automotive industry, especially in emerging economies such as India and China, is fueling the growth of the global metal injection molding market.

Impact of COVID-19 on Metal Injection Molding Market:

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. The crisis is hindering various industries across the globe due to lockdowns, travel bans, and business shutdowns. The global manufacturing industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns. The lockdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is restricting the global supply chains and hindering manufacturing activities, delivery schedules, and various goods sales. All these factors are disrupting the manufacturing of automotive, medical, defense, and electronics goods, which is restraining the growth of the metal injection molding market.

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Metal Injection Molding Market: Material

Based on material, the global metal injection molding market is segmented into stainless steel, low alloy steel, soft magnetic material, and others. In 2019, the stainless steel segment led the market. Stainless steel has good stiffness, wear, and corrosion resistance properties. It is a widely used injection molding material. Stainless steel components that are employed in metal injection molding possess high wear & corrosion stability. The metal injection molding help in enhancing the strength, achieving high densities, corrosion resistance, and flexibility of stainless steels.

Metal Injection Molding Market: Competitive Landscape and Key Developments

Arc Group Worldwide; CMG Technologies; Dean Group International; Molex, LLC; INDO-MIM; MPP; Sintex A/S; Smith Metal Products; Shanghai Future Group; and Form Technologies are among the well-established players in the global metal injection molding market.

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