Top 3 Trends that would outline Metal Injection Molding Parts Market Outlook Through 2025

The metal injection molding parts market is estimated to accrue remarkable gains on account of rising demand from the aerospace and electronics sectors. Factors like stabilizing prices of crude oil, rise in passenger travel and recovering GDP of regions like the Middle East, Latin America and Asia Pacific could play a crucial role in propelling the demand for commercial aircrafts.

In the aerospace sector, the metal injection molding process is used to produce several components such as bushings, compressor blades, fasteners, rotors, inlets, and brackets. Improvement in the U.S. defense budget coupled with surging defense spending from nations like Japan, China, Saudi Arabia and India might enhance the adoption of defense airplanes.

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Additionally, various public and private organizations are hosting large-scale exhibitions to showcase the latest technologies in the MIM sector. This could broaden the business horizon for MIM component manufacturers as they get the opportunity to expand their network. Taking December 2019 for instance, PIM International collaborated with Mesago Messe Frankfurt GmbH to organize a major exhibition, called Formnext 2019, to showcase over hundred components developed through Ceramic and Metal Injection Molding (CIM and MIM).

According to a study conducted by Global Market Insights, Inc., the metal injection molding parts market could exceed USD 5 billion by the year 2025.

This growth can be attributed to some of the growth drivers mentioned below:

Proliferating demand from the electronics sector -
Increasing focus on sustainable development coupled with declining cost of technologies could accelerate the demand for consumer electronics in the future. MIM parts play a crucial role in smartphone parts, fiber optic components, and lightning device. Over the years, the electronics sector has been a vital customer for the metal injection molding parts market. In 2018, the sector emerged as the largest end-user, covering more than 33% of the market share. Estimates suggest that the segment could register a CAGR of almost 13% within the predicted timeframe.

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Growing prominence of consumer goods -
Developing network of distribution channels supported by increasing penetration of new feature-laden items could stimulate the demand for consumer goods. Injection molding products are widely used in consumer goods and is considered an integral material while manufacturing. Rising purchasing power of people living in developing economies could strengthen the demand for consumer goods during the analysis timeframe.

Adoption of new business strategies -

Companies operating in the metal injection molding parts market are engaged in a series of business strategies like partnerships, new product launches and mergers to enhance their competitive edge and geographical reach. Some of these firms include Smith Metals, CMG Technologies, PSM Industries, Form Technologies Company, Advanced Material Technologies, CN Innovations Holdings Ltd, Nippon Piston Ring Co. Ltd. ARC Group, and Hoganas AB.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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