Global Metal and Ceramic Injection Molding Market to Rise at 11.50% CAGR from 2014 to 2020
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Penetrating into a range of important markets, from aerospace and the 3C (computing, communication, and consumer) industries to the automotive, firearms, and medical sectors, metal injection moldings (MIM) have advanced by leaps and bounds in the last few decades. Developed during the 1970s, the process involves mixing of powder metals with a binding agent such as plastic. The resultant liquid is injected into molds using a plastic injection molding equipment to manufacture molded objects.
The report enumerates the various reasons for the increasing demand for powder injection molding. The need to develop miniature components for industrial use and the need for high-performance materials across various end-use industries is bolstering the demand for micro-size injection molding made of various materials such as stainless steel and silicone. Molds that are made of these materials are used to produce minuscule medical parts that are used for medical techniques and procedures. Powder injection molding (PIM) technology finds widespread utilization in the medical and healthcare industry for the manufacture of several components. Metal injection molding processors that are delivered through this technology need to meet certifications such as QS 9000 and ISO 9002. With increasing usage of firearms in the arms and ammunition industry in the U.S., the metal injection molding industry will receive a boost.
The report studies the global metal and ceramic injection molding market on the basis of application and geography. Automotive, medical and healthcare, consumer products, aerospace, industrial machinery, and others (defense, electronics, etc.) are the application segments of the market. In 2013, automotive registered the highest demand for metal and ceramic injection molding and the segment held a share of more than 20% in the global market.
Apart from this, as per the report’s analysis, the inflow of investments in the medical and healthcare industry will fuel demand for metal and ceramic injection moldings. This, in turn, will bolster the growth of the market. The report also points out that the progression of the electronics and defense sectors will benefit this market as well.
In terms of geography, North America, Europe, Asia Pacific, and Rest of the World are the segments into which the global metal and ceramic injection molding market is divided. Asia Pacific is ahead of all other regions in terms of revenue contribution to the overall market. In 2013, the region held a share of more than 45% in the global market. The flourishing electronics and automotive industries in the region are the reason for the same. Asia Pacific is expected to maintain its dominant position during the forecast period.
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The regional metal and ceramic injection molding markets in North America and Europe will register stable growth in the forecast period. Consistent development in the automotive and medical and healthcare industries is the reason for the steadfast demand for these moldings.
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