Metal injection molding market is anticipated to grow at a CAGR of 7.9% during the forecast period. The global metal injection molding market is being fueled by the exponential growth of the automotive industry, particularly in emerging economies such as India and China. Furthermore, the rapid growth of the market is also attributed due to rising demand of metal injection molding from numerous end-use industries such as automotive & aerospace, consumer goods, and medical devices. Metal parts constructed from MIM technology are employed across industries owing to faster processing time, removal of secondary operations, and better tolerance levels of final products. Technological advancements, and innovation, along with the rising demand for miniature metal parts for the plastic industry are some other factors accelerating the expansion of the metal injection molding market. For instance, in October 2022, Nicolet Plastics is going to install a Mantle production system in 2023. The new 3D metal printing has the potential to simplify toolmaking and accelerate lead times, and eliminates machining and EDM operations by printing parts with the accuracy (+/- 0.001? per inch) and fine features needed for tooling.

Segmental Outlook 

The global metal injection molding market is segmented based on the material type, and end-user industry. Based on the type, the market is sub-divided into soft magnetic material, low alloy steel, and stainless steel. Based on the end-user industry, the market is sub-segmentedinto firearms and defense, industrial, consumer products, automotive, medical sector, and electric and electronics.Based on material type, the stainless steel sub-segment is expectedto be the fastest-growing segment inthe market due toits wide application in various end-use industries.It is easily available ata relatively lower price as compared to other material types. However, the demand for low alloy steel is also expected to rise significantly in the coming years, owing to its growing utilization in manufacturing parts for cars, pumps and valves, heavy trucks, construction and mining equipment, and power generation equipment.

Among the end user, the medical sector segment is expected to grow at a favorable CAGR rate during the forecast period. The growth is mainly augmented owing to the emerging application of precision parts and miniaturization from the medical sector. Orthodontics in this sector is one of the leading application areas for injection molding. This area requires extremely small precision parts and objects having complex shapes. The injection molding is widely used in applications such as orthopedic plates, screws, brackets, device components, and implant parts, among others. Moreover, the rising demand and awareness regarding the usage of lightweight surgical instrument parts and devices resulted in a rise in investments in the healthcare sector. These parts and instruments are extensively produced fromvarious biocompatible metals including, stainless steel, magnetic materials, case-hardened and tempered steel, tungsten, tool steel, and titanium alloys. 

Regional Outlooks

The global metal injection moldingmarket is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).The market can be analyzed for a particular region or country level as per the requirement. Among all the regions, the Asia-Pacific regional market is expected to cater a highest growth over the forecast period. However, the North American region is projected to experience considerable growth in the global metal injection molding market. 

Global Metal Injection Molding Market Growth, by Region 2022-2028

The Asia-Pacific Region is Anticipated to Grow at a Considerable CAGR During the Forecast Period

The Asia-Pacific is anticipated to register significant revenue growth over the forecast period. The growth is mainly attributed due to the rising automotive, aerospace, and electrical and electronics sectors in emerging economies including India and China. Several majorplayers serving theseindustries have their production facilities in this region, since production cost is lower compared to other regions. China is one the leading manufacturers of electronics components and devices, which is expected to rise thedemand for injection molding in this region. China's electronics manufacturing industry maintained steady expansion during the first two months of 2022, according to a report by the China Academy of Information and Communications Technology (ICT), and the export value of Chinese electronics products increased to 11.4% in 2022.

Market Players Outlook

The major companies serving the global metal injection moldingmarket includeARC Group Worldwide, CMG Technologies, Dean Group International Ltd., Fours Industriels BMI SAS,and others.The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2020, COBRA Golf, unveiled its new KING MIM Black Wedges, a fully Metal-Injection-Molded (MIM) 304 stainless steel head construction that is offered in a glare-reducing QPQ (Quench Polish Quench) black finish.The MIM process represents a significant advancement in wedge manufacturing, delivering the most precise shape possible for truly exceptional feel and turf interaction in every wedge COBRA manufactures. The new KING MIM Black Wedges are constructed with 3 Tour-Inspired Grinds, Precision CNC Milled Face & Grooves, Durable Black Qpq Finish, and Progressive Spin Technology.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global metal injection moldingmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.