Global Metal Injection Molding (MIM) Market Provides Excellent Investment Opportunities

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.

Metal injection molding (MIM) is a process of shaping and reshaping metals also known as metalworking. It involves the use of extremely fine powdered metals as a mixture and binder material. When combined together, these raw materials create a feedstock which in later processes is shaped and solidified using the injection molding method. The mixture is heated and injected into a mold cavity under extremely high pressure. It is similar to the injection mold process used for producing plastic. Once the injection process is complete, the mixture solidifies and retains the shape of the mold. The final outcome from this process is processed further consisting of other steps until the desired outcome is achieved. This MIM process creates scope for producing complex parts in high volumes in a single step, unlike other manufacturing processes that generally tend to require multiple steps.

This review is based on a report by Zion Market Research, titled "Metal Injection Molding (MIM) Market By End-User (Electronics, Automotive, Sporting Goods, Power Tools, Defense & Firearms, Medical & Dental, Aerospace, IT & Telecommunications, Oil Exploration, Consumer Goods, And Others), By Material (Carbon Steel, Stainless Steel, Cobalt Alloy, Tungsten Steel, Tool Steel, Titanium, Carbon Iron Powders, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/metal-injection-molding-mim-market

The global metal injection molding (MIM) market is projected to grow owing to the design flexibility offered by MIM as extremely complex and intricate designs can be easily created using this method. Engineers can experiment with designs for instance including thin walls, and complex geometries which opens up new avenues for product differentiation and innovation. Furthermore, the method supports a wide range of metals that are used as raw including. Some examples of the most commonly used metals during MIM processes are stainless steel, titanium alloys, copper alloys, and more. With such versatility, it is possible to manufacture components with varying mechanical, thermal, and chemical properties, thus catering to several industries at once. Hence it is possible to use MMM processes across sectors such as automotive, aerospace, healthcare, and electronics. The MIM industry is popular due to its ability to produce extremely dense metal parts that showcase superior mechanical properties when compared to products manufactured using traditional methods. The sintering process plays a crucial role in achieving desired density in components and hence MIM is used extensively during the process of dealing with the production of materials where performance and reliability are crucial.

The metal injection molding industry expansion trajectory is expected to be limited due to constraints over the availability and compatibility of the process with certain materials such as refractory metals or some exotic alloys. These metals are not considered suitable for the MIM method due to problems arising during processing. Furthermore, MIM is a complex manufacturing process. It requires expertise and careful control of various parameters including powder formulation, binder content, injection molding, debinding, and sintering. Any negligence can dramatically impact the overall output of the method.

The growing application of the MIM process in healthcare may provide growth opportunities while the fluctuating prices of raw materials could challenge market growth.

The global metal injection molding (MIM) market is segmented based on end-user, material, and region.

Based on end-user, the global market is segmented into electronics, automotive, sporting goods, power tools, defense & firearms, medical & dental, aerospace, IT & telecommunications, oil exploration, consumer goods, and others. The industry registered the highest growth in the electronic segment in 2022 as the metal injection molding process is used extensively to manufacture a wide range of components such as connectors, terminals, switches, and sensor housings. With the growing requirement and consumption of complex but miniaturized parts, the MIM manufacturing process has also gained momentum. However, other industries are also significant revenue generators. In the automotive sector, MIM is used during the production of engine parts, transmission components, fuel system parts, and sensors among other components. A recent study by IPC Org concluded that the electronic sector is responsible for nearly 1.3 million jobs in the US.

Based on material, the metal injection molding industry is divided into carbon steel, stainless steel, cobalt alloy, tungsten steel, tool steel, titanium, carbon iron powders, and others. The highest CAGR was observed in the stainless steel segment driven by the wide-scale applications of the material. It offers excellent corrosion resistance, high strength, and good ductility which makes it suitable for multiple purposes. The versatility of stainless steel is what makes it one of the most preferred choices of materials across automotive, electronics, medical, aerospace, and consumer goods segments. Stainless steel alloys including 316L or 17-4PH will continue the growth trajectory during the forecast period. Tools steels such as H13 or M2 are used when high hardness, heat resistance, and wear resistance are important determining criteria.

The global metal injection molding (MIM) market is expected to register the highest growth in North America. This is due to the existence of a mature market dealing with metalworking especially in the US. The sector plays a crucial role in the country’s economy. Additionally, the growing interest of medical device and equipment manufacturers toward the application of MIM to manufacture complex components of medical devices could trigger higher revenue in the region.

In Europe, the growth may be led by the presence of several manufacturers dealing with MIM methods and the presence of governing bodies that ensure high quality of production across the manufacturing sector.

In Asia Pacific, countries such as India, China, and Japan are likely to witness higher growth rates due to the establishment of a robust manufacturing base. Growing investments in innovative manufacturing processes could drive regional expansion.

Recent Developments:

• In August 2019, a leading trade association promoting MIM components, powders, and products, the Metal Injection Molding Association (MIMA), launched a new website that features a modern design, resources for potential MIMA consumers, and improved functionality
• In May 2019, Indo MIM, the largest MIM company in the world, announced a collaboration with Desktop Metal. The companies aim to accelerate the global adoption rate of metal 3D printing through the joint effort
• In July 2021, BASF announced the launch of a new center of excellence called Catamold in Shanghai. The new site will be the center of all future innovations related to MIM targeting China and other Asian countries

Metal Injection Molding (MIM) Market: Competitive Analysis

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.
• Magnetic Products & Services Inc.
• FineMIM
• CMG Technologies
• Innovus Power Inc.

The global metal injection molding (MIM) market is segmented as follows:

By End-User

• Electronics
• Automotive
• Sporting Goods
• Power Tools
• Defense & Firearms
• Medical & Dental
• Aerospace
• IT & Telecommunications
• Oil Exploration
• Consumer Goods
• Others

By Material

• Carbon Steel
• Stainless Steel
• Cobalt Alloy
• Tungsten Steel
• Tool Steel
• Titanium
• Carbon Iron Powders
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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