Press release
Future of the Metal Injection Molding Market: Trends, Innovations, and Key Forecasts Through 2034
Metal Injection Molding
Metal Injection Molding Market Size Growth Forecast: What to Expect by 2025?
The market size for metal injection molding has experienced substantial growth in recent times. The market is projected to expand from $4.35 billion in 2024 to $4.78 billion in 2025, maintaining a compound annual growth rate (CAGR) of 9.9%. Contributing factors to the growth during the historic period include advancements in powder metallurgy, demand from the automotive industry, the needs of the energy sector, the emergence of additive manufacturing, and the production of consumer goods.
How Will the Metal Injection Molding Market Size Evolve and Grow by 2029?
In the coming years, the market size for metal injection molding is predicted to experience substantial growth, eventually reaching "$6.98 billion by 2029, with a compound annual growth rate (CAGR) of 9.9%. The progression during the predicted period is likely due to advancements in alloy development, sustainable strategies, investment in research and development, increased demand for lightweight materials, and the global development of infrastructure. Noteworthy trends for the forecast period encompasses additive manufacturing, techniques of powder metallurgy, a broader selection of metal powder alloys, metal injection molding, digital transition, and incorporation of industry 4.0.
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What Drivers Are Propelling the Growth of Metal Injection Molding Market Forward?
The metal injection molding market's growth is set to accelerate, buoyed by increasing demand from the automotive industry. This industry encompasses firms that manufacture, distribute, retail, and maintain automobiles. Many parts of the car, such as engines, gearboxes, turbochargers, locking mechanisms, steering systems, and electrical systems are increasingly being made from metal injection molded components, which are valued for their high strength and complex designs. As per the U.S. Environmental Protection Agency's data from December 2023, the combined production share of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) in the US saw an increase from 4% in 2021 to 7% in 2022, with predictions pointing towards a further rise to 12% by 2023. Consequently, the burgeoning demand from the automotive industry is generating momentum for the growth of the metal injection molding market.
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Which Emerging Trends Are Transforming the Metal Injection Molding Market in 2025?
The metal injection molding market is experiencing product innovation with vertically integrated services. In October 2024, US-based Biomerics launched new MIM services managed by its micro metals division. These services cover the full production cycle and enable the manufacturing of complex medical device parts with improved efficiency and precision.
What Are the Key Segments in the Metal Injection Molding Market?
The metal injection molding market covered in this report is segmented -
1) By Material: Stainless Steel, Low Alloy Steel, Soft Magnetic Material, Other Materials
2) By Machine Type: Hydraulic, Electric, Hybrid
3) By End-user: Electrical And Electronics, Automotive, Consumer, Industrial, Other End-Users
Subsegments:
1) By Stainless Steel: Austenitic Stainless Steel, Ferritic Stainless Steel, Martensitic Stainless Steel
2) By Low Alloy Steel: Low Alloy Carbon Steel, Low Alloy Structural Steel
3) By Soft Magnetic Material: Iron-based Alloys, Cobalt-based Alloys
4) By Other Materials: Tool Steel, Copper Alloys, Titanium Alloys
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Who Are the Key Players Shaping the Metal Injection Molding Market's Competitive Landscape?
Major companies operating in the metal injection molding market include Molex LLC, Indo-Mim Private Limited, CMG Technologies Ltd., GKN Ltd., Smith Metal Products, ASH Industries Inc., Rockleigh Industries Inc., Schunk Sintermetalltechnik GmbH, Sandvik AB, Tekna Manufacturing Private Limited, PSM Industries Inc., Advanced Powder Products Inc., Alpha Precision Group, Epson Atmix Corporation, Hitachi Metals Ltd., Shanghai FUTURE HIGH-TECH Co. Ltd., Advanced Forming Technology, Ametek Specialty Metal Products, Parmatech Corporation, WTM SOLUTIONS, MOKO Technology, Kinetics climax* Inc., Phillips-Medisize LLC, FloMet LLC, Advanced Technology & Materials Co. Ltd., Nbtm New Materials Group, Jiangsu Gian Technology Co. Ltd., Shenzhen Zhucheng Science & Technology Co. Ltd., MDM Metal Industrial Co.Ltd.
What Geographic Markets Are Powering Growth in the Metal Injection Molding Market?
Asia-Pacific was the largest region in the metal injection molding market in 2024. The regions covered in the metal injection molding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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