What is the Size of Metal Injection Molding Market ? :
IMARC Group’s latest research report, titled “Metal Injection Molding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global metal injection molding market size reached US$ 3.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 9.9% during 2023-2028.
Metal Injection Molding Market Uses:
Metal injection molding (MIM) represents advanced metalworking procedures wherein finely powdered metals are mixed with binder materials for creating feedstocks, which are then solidified and shaped using injection molding. They can be performed on numerous types of materials, including stainless steel, low alloy steel, soft magnetic materials, etc. Metal injection molding systems allow high volume and complex parts to be shaped in a single step. They provide thermal and dimensional stability, corrosion resistance, and high mechanical strength to small, finished metal products. As a result, metal injection molding solutions find extensive applications across various sectors, such as electrical, automotive, medical, consumer products, firearms and defense, etc.
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Metal Injection Molding Market Production and Development:
The increasing production of lightweight, precise, and high-quality motorized and vehicular parts in large quantities, including steering, gearbox, locking mechanisms, turbochargers, etc., is among the key factors driving the metal injection molding market. In addition to this, the escalating deployment of the technology to manufacture several surgical equipment, which include orthopedic tools, ablation electrodes, endoscopic graspers, and trauma plates, is acting as another significant growth-inducing factor. Besides this, the shifting preferences among manufacturers from conventional metal molding procedures toward MIM in order to complete operations at affordable rates and reduce the production time and wastage of raw materials utilized in the making of feedstocks are also positively influencing the global market. Moreover, the inflating investments by leading players in research and development (R&D) activities for introducing advanced MIM to facilitate the mass designing of complex-shaped metal components are expected to bolster the metal injection molding market in the coming years.
Key Players Included in Global Metal Injection Molding Market Research Report:
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TOC for the Metal Injection Molding Market Research Report:
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