The rising application of powder injection molding and the availability of new opportunities for manufacturers will drive the growth of the powder injection molding market in the upcoming years. The worldwide powder injection molding (PIM) industry is predicted to experience a robust CAGR of 9.3% between 2022 and 2032, resulting in a significant increase in global sales. Starting at US$ 3.50 billion in 2022, the market is expected to reach US$ 8.52 billion by 2032.
The powder injection molding market is expected to grow at a significant rate over the next few years. Powder injection molding is a process used to produce complex parts with high precision and low cost. This technology is used in various applications such as automotive, aerospace, medical, and electronics. The powder injection molding market across the world is being propelled by the growing need for robust components that can withstand high temperatures and pressure in diverse applications, including defense, automotive, aerospace industries, and surgical equipment. In addition, the emergence of enhanced trade relations between nations is expected to offer novel opportunities for the companies operating in the market.
An industrial manufacturing solution for producing alloy, ceramic, and metal parts, powder injection molding finds extensive usage due to advantages like cleaner product output compared to other approaches. This factor bodes well for the overall market growth.
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The increasing demand for complex parts and components in various end-use industries is driving the growth of the powder injection molding market. Additionally, the rising demand for lightweight and high-strength materials is also contributing to the growth of this market. Furthermore, the increasing adoption of powder injection molding technology in the medical and dental industries for the production of surgical instruments, dental implants, and orthopedic implants is expected to boost market growth. On the other hand, factors such as the high cost of equipment and the availability of alternative technologies may hinder the growth of the powder injection molding market. In summary, the powder injection molding market is expected to experience significant growth in the coming years due to increasing demand for complex parts and components in various industries, the adoption of this technology in the medical and dental industries, and the demand for lightweight and high-strength materials.
Key Takeaways:
- Asia Pacific’s powder injection molding market will dominate the global space owing to the high adoption rate of PIM in the electronic sector.
- Rising usage in the defense and healthcare sectors will propel the powder injection molding market forward in North America.
- In Europe, the powder injection molding market will be driven by high demand from the automotive industry.
Competitive Landscape
Leading market players are focusing on product development and new product releases to cater to the growing demand. These businesses also employ various organic and inorganic growth strategies. A few of the eminent players in the powder injection molding market are profiled in the full version of the report
- ARC Group
- Advanced Materials Technologies Pte. Ltd.
- Epsom Atmix Corporation
- PSM Industries Inc.
- Plansee Group
- Indo-US MIM Tec Pvt. Ltd.
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More Insights Into Powder Injection Molding Market
In its latest report, FMI offers an unbiased analysis of the global powder injection molding market, providing historical data from 2014 to 2020 and forecast statistics for 2022 to 2032. This report comprehensively studies market drivers, challenges, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented on the basis of type, application, and region.
According to FMI estimates, based on segmentation, the automotive, healthcare, and electronics sectors will create significant opportunities for the market in terms of application and thereby contribute to its overall growth. On the basis of technology, the market is segmented into ceramic injection molding and metal injection molding. Both of these segments will witness considerable growth due to high demand from various end-use industries.
Based on region, the powder injection molding market in Asia Pacific will show considerable growth. It is projected that the PIM market in this region will dominate the international marketplace. Increasing application of PIM in the automotive and electronics sector along with the support from favorable environmental regulations will drive the growth of the powder injection molding market in Asia Pacific. Further, North America and Europe will also present notable growth in this market and thus all three regions will aid the expansion of the global powder injection molding market.
Key Segments
By Technology
- Ceramic injection molding (CIM)
- Metal injection molding (MIM)
By Application
- Automotive
- Medical
- Healthcare
- Aerospace
- Consumer products
- Industrial machinery
By Raw Material
- Stainless steel
- Soft magnetic alloys
- Titanium alloys
- Low-alloy steels
By Region
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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