Ceramic Injection Molding Market 2019 Comprehensive Insights, Growth and Forecast 2026 | CoorsTek, Inc., Indo-MIM, MICRO, Morgan Advanced Materials plc, OECHSLER AG
Global ceramic injection molding market size was $375.0 million in 2018 and is projected to reach $746.2 million in 2026, growing at a CAGR of 8.8%. The alumina segment accounted for over two-fifths of the market share in 2018 and is expected to witness significant growth during the global ceramic injection molding market forecast period.
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Ceramic injection molding (CIM) is a process used to develop highly precise and large volume of injection-molded ceramic components for different industries such as consumer goods, healthcare, and others. The global ceramic injection molding market growth is driven by surge in demand for advanced ceramic products across the globe due to wear resistance, corrosion resistance, toughness, and high strength offered by the material. In addition, the market for ceramic injection molding is primarily driven by the rise in demand for injection-molded ceramic parts from several end-use industries, including the automotive, healthcare, consumer goods, and others.
CIM technology finds wide-ranging applications in consumer goods, electronics, and mobile phone industries. Hence, the escalating adoption of injection-molded ceramics products is expected to boost the development of the industry. In addition, growth in the industrial sector and increase in demand for precise and complex ceramic products is estimated to fuel the growth of the global ceramic injection molding market in the coming years.
However, the high threat of less volume, reasonably priced alternatives, including 3D printing, and others is anticipated to hinder the development of the industry. In contrast, technological developments such as combining wireless technology in the ceramic injection molding is anticipated to generate lucrative opportunities for the growth of the ceramic injection molding industry. In addition, developments in injection molding process such as implementation of robotics and automation to accomplish various operations such as finishing & assembling of final products are predicted to create lucrative growth opportunities.
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Based on the industry vertical, the market is divided into industrial machinery, automotive, healthcare, electrical & electronics, consumer goods, and others. The automotive segment is expected to account for the largest share in the global market during the forecast period owing to the large adoption of injection-molded ceramics components such as turbocharger rotors, valve seats, valve components, and others in the sector.
Based on material, the alumina segment is estimated to account for the maximum share during the forecast period. This is attributed to industries such as automotive, consumer goods, electronics, and others, opting for smaller sized, precise ceramic parts in large quantities.
The healthcare segment is anticipated to portray the fastest CAGR of 10.5% during the forecast period, owing to an increase in the demand for ceramic injection molding parts in the medical sector owing to its capabilities such as biocompatibility, fracture toughness, sterilizable, and chemical resistance. However, the automotive segment dominated the global ceramic injection molding market in 2018, contributing nearly one-fourth of the market, owing to rise in adoption of CIM parts in automotive sector due to various features including wear resistance, toughness, and chemical resistance.
Asia-Pacific region to hold lion's share
The market across Asia-Pacific held the largest share in 2018, contributing more than half of the global ceramic injection molding market, owing to the presence of many emerging economies and end-use industries such as automotive, consumer goods, electronics, and healthcare. The market across North America is projected to register a CAGR of 8.2% during the study period. However, the market across LAMEA region is anticipated to register the fastest CAGR of 11.1% during the forecast period, owing to increased demand for injection-molded ceramics due to its features such as mass production, identical products, high strength, and corrosion resistance.
Key Findings of the Study
o Based on material, the alumina segment was the largest revenue contributor in 2018.
o By industry vertical, in 2018, the automotive segment generated the highest revenue, accounting for almost one-fifth of the global ceramic injection molding market share, and is projected to grow at a CAGR of 8.0% from 2019 to 2026.
o On the basis of region, LAMEA is expected to be the fastest-growing region during the study period.
o China accounted for approximately half the share of the Asia-Pacific ceramic injection molding market in 2018.
Key players in the global ceramic injection molding market adopted product launch, acquisition, and expansion as their key strategies to meet the change in consumer demands. The key players profiled in this report include ARBURG GmbH + Co KG, Kläger Spritzguss GmbH & Co. KG, CoorsTek, Inc., Ortech Advanced Ceramics, Indo-MIM, MICRO, Morgan Advanced Materials plc, Nishimura Advanced Ceramics, OECHSLER AG, and Paul Rauschert GmbH & Co. KG.
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