Global Powder Injection Molding (PIM) Market - Segmented by Technology, Application and Geography - Growth, Trends, and Forecast (2022 - 2030)
Powder Injection Molding (PIM) Market
The market for powder injection molding is expected to register a tremendous growth during the forecast period, 2018 to 2023.This significant growth is significantly driven by the growing demand for metal injection molding (MIM) from automotive industry (In Combustion Engines, Gear Box Parts and Ignition Lock Parts etc.).
Rise in Demand for Metal Injection Molding (MIM) from Automotive Industry
The automotive industry was an early adopter of MIM technology when compared to the other applications. Although there is much more scope to increase the awareness and penetration of MIM in the automotive market. The most important applications in cars are high strength, high complexity parts which include turbocharger parts, gearboxes, powertrain applications, locking mechanisms, steering systems, sensors and other electronic systems, and parts for fuel injection systems. The automotive business is the leading application segment for metal injection molding (MIM). In Europe, automotive applications is the leading application segment for PIM with more than 40% of the market share. The EU accounted for more than 21% of global car production in 2017. Based on these two factors, the impact of the rise in demand of metal injection molding market from the automotive industry can be witnessed. This trend gains momentum in the nearby future further igniting the demand for powder injection molding market.
Metal Injection Molding (MIM) Technology Segment to Dominate the Powder Injection Molding Market
Metal Injection Molding (MIM) is a molding technology which achieves precise net-shape metal parts. The process involves the combination of ultra-fine metal powders and a polymer binder system to create a feedstock suitable for injection molding. MIM is best suitable for parts with complex geometries, low part mass, and medium to high production volumes. Metal injection molded (MIM) parts production accounts for around 90% of the total market for powder PIM products. The differences in the market shares of the applications for metal injection molding is quite distinct with various geographical regions. For instance, in Asia, MIM market dominated by consumer electronics. Similarly, in North America, the respective market is led by medical, orthodontic and firearms applications, and in Europe, automotive and consumer products are the leading applications. The booming international smartphone market offers huge potential for metal injection molding as this process enables the use of materials such as stainless steel, titanium and zirconium oxide, requires much lower material volumes and is significantly more cost-effective than machining. However, the growing aerospace, automotive and consumer electronics industries are providing the potential opportunities for propelling the market demand for global powder injection molding market in the coming years.
Asia-Pacific to Dominate the Powder Injection Molding (PIM) Market
Asia-Pacific represents the largest regional market for global powder injection molding market in 2017. This immense demand for powder injection molding is a consequence of the growing electronic equipment market in the region. In Asia-Pacific, China provides the major market for the powder injection molding components with more than 60% of the regional market share. The growth of powder injection molding market in China has benefited from the electronics industry (such as the mobile phone industry), which has seen the whole industry skyrocket since 2009. In addition, the growing automotive, aerospace and consumer goods industries in the countries like China, Japan, India and South Korea further augmented the demand for metal injection molding market which in turn created the demand for powder injection molding market. The large market size coupled with the huge growth of Asia-Pacific is quite instrumental in expansion of the global powder injection molding market.
Key Developments in the Powder Injection Molding Market
Oct 2017: Ceramic Injection Moulding feedstock producer Inmatec Technologies GmbH, is expanding its product range to include polyoxymethylene (POM)-based CIM feedstocks.
May 2017: Arburg and BASF formed a joint venture to develop a material and process with powder injection molding (PIM) to produce housing components for smartphones.
Powder Injection Molding (PIM) Market Major Players:
ARBURG
ARC Group Worldwide
GKN plc
MPP
Indo-US MIM Tec Pvt. Ltd.
Reasons to Purchase Powder Injection Molding (PIM) Market Report
Identify the current and future prospects of the global powder injection molding (PIM) market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information about the growth of the various product segments that are expected to dominate the market
Regional analysis of the market
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)
Customize Powder Injection Molding (PIM) Market Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
The market for powder injection molding is expected to register a tremendous growth during the forecast period, 2018 to 2023.This significant growth is significantly driven by the growing demand for metal injection molding (MIM) from automotive industry (In Combustion Engines, Gear Box Parts and Ignition Lock Parts etc.).
Rise in Demand for Metal Injection Molding (MIM) from Automotive Industry
The automotive industry was an early adopter of MIM technology when compared to the other applications. Although there is much more scope to increase the awareness and penetration of MIM in the automotive market. The most important applications in cars are high strength, high complexity parts which include turbocharger parts, gearboxes, powertrain applications, locking mechanisms, steering systems, sensors and other electronic systems, and parts for fuel injection systems. The automotive business is the leading application segment for metal injection molding (MIM). In Europe, automotive applications is the leading application segment for PIM with more than 40% of the market share. The EU accounted for more than 21% of global car production in 2017. Based on these two factors, the impact of the rise in demand of metal injection molding market from the automotive industry can be witnessed. This trend gains momentum in the nearby future further igniting the demand for powder injection molding market.
Metal Injection Molding (MIM) Technology Segment to Dominate the Powder Injection Molding Market
Metal Injection Molding (MIM) is a molding technology which achieves precise net-shape metal parts. The process involves the combination of ultra-fine metal powders and a polymer binder system to create a feedstock suitable for injection molding. MIM is best suitable for parts with complex geometries, low part mass, and medium to high production volumes. Metal injection molded (MIM) parts production accounts for around 90% of the total market for powder PIM products. The differences in the market shares of the applications for metal injection molding is quite distinct with various geographical regions. For instance, in Asia, MIM market dominated by consumer electronics. Similarly, in North America, the respective market is led by medical, orthodontic and firearms applications, and in Europe, automotive and consumer products are the leading applications. The booming international smartphone market offers huge potential for metal injection molding as this process enables the use of materials such as stainless steel, titanium and zirconium oxide, requires much lower material volumes and is significantly more cost-effective than machining. However, the growing aerospace, automotive and consumer electronics industries are providing the potential opportunities for propelling the market demand for global powder injection molding market in the coming years.
Asia-Pacific to Dominate the Powder Injection Molding (PIM) Market
Asia-Pacific represents the largest regional market for global powder injection molding market in 2017. This immense demand for powder injection molding is a consequence of the growing electronic equipment market in the region. In Asia-Pacific, China provides the major market for the powder injection molding components with more than 60% of the regional market share. The growth of powder injection molding market in China has benefited from the electronics industry (such as the mobile phone industry), which has seen the whole industry skyrocket since 2009. In addition, the growing automotive, aerospace and consumer goods industries in the countries like China, Japan, India and South Korea further augmented the demand for metal injection molding market which in turn created the demand for powder injection molding market. The large market size coupled with the huge growth of Asia-Pacific is quite instrumental in expansion of the global powder injection molding market.
Key Developments in the Powder Injection Molding Market
Oct 2017: Ceramic Injection Moulding feedstock producer Inmatec Technologies GmbH, is expanding its product range to include polyoxymethylene (POM)-based CIM feedstocks.
May 2017: Arburg and BASF formed a joint venture to develop a material and process with powder injection molding (PIM) to produce housing components for smartphones.
Powder Injection Molding (PIM) Market Major Players:
ARBURG
ARC Group Worldwide
GKN plc
MPP
Indo-US MIM Tec Pvt. Ltd.
Reasons to Purchase Powder Injection Molding (PIM) Market Report
Identify the current and future prospects of the global powder injection molding (PIM) market in the developed and emerging markets
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Information about the growth of the various product segments that are expected to dominate the market
Regional analysis of the market
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)
Customize Powder Injection Molding (PIM) Market Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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