Metal Injection Molding Market is Forecasted to Reach US$ 4.6 Billion in 2028, Says Stratview Research

The global metal injection molding market is projected to witness a growth rate of 7.65% annually from 2023 to 2028, with an anticipated size of US$ 4.6 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global metal injection molding market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 4.6 billion
Growth (CAGR): 7.65% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Metal Injection Molding Market:

The global metal injection molding market is segmented based on material type, end-use industry type, and region.

Based on material type - The metal injection molding market is segmented as stainless steel, low alloy steel, and soft magnetic materials. Stainless steel is estimated to account for the largest share of the market during the forecast period, the growth is attributed to its better mechanical and corrosion resistance properties in comparison with other materials. It is also used in industries such as automotive for the production of transmission & engine components, and in the industrial goods industry for the production of different power and hand tools, eventually boosting the product demand in the metal injection molding market during the forecast period.

Based on end-use industry type - The market is segmented as automotive, consumer goods, electronics, medical, firearms, and aerospace. The automotive industry is estimated to be the major end-user industry of the metal injection molding parts industry. The growth is attributed to the high complexity and high strength of these parts which are preferred to be used in engines, gearboxes, turbochargers, etc. On the other hand, the firearms industry is also one of the major sectors of the metal injection molding market as many of the firearm manufacturers use MIM technology for highly automated processes, resulting in saving both time and labor costs for production, eventually boosting the growth of the market during the forecast period.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/1165/metal-injection-molding-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is estimated to be the major region in the market. This growth outlook is majorly attributed to the following-

• Presence of several emerging economies such as China and India in the region and the increase in demand from various end-user industries during the forecast period.
• China holds around 40% share of the total metal injection molding parts demand led by a healthy growth in the electronics industry in the regional market and has the world's largest production base for electronic products contributing around 30% share of the total ICT product exports, globally.
• Further, other countries such as Singapore, South Korea, and Taiwan also contribute a major share in both the regional and global electronics industries, fueling the growth of the market over the forecast period.
• North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Metal Injection Molding Market Drivers:

Some of the key drivers listed in the report are given below.
• Growing product demand from the automotive industry.
• Rapid growth in the consumer electronics sector.
• Investments made by the government on arms & ammunition in the U.S.
• The significant production backlogs of commercial aircraft along with an increase in air traffic.

Top Companies in the Metal Injection Molding Market:

Stratview Research has identified the following companies as the top market players.
• ARC Group Worldwide
• Akron Porcelain & Plastics Co.
• ASH Industries
• CMG Technologies
• CN Innovations Holdings Ltd.
• Form Technologies Company
• Nippon Piston Ring Co Ltd.
• P.S.M. Industries
• Smiths Metal Centres Ltd.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Metal Injection Molding Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Medical Molding Market: https://www.stratviewresearch.com/3771/medical-molding-market.html
• Injection Molding Machine Market: https://www.stratviewresearch.com/1146/injection-molding-machine-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.