The global powder injection molding market is expected to grow at an opulent CAGR of 9.3% over the projection period from 2022 to 2032. The growth of the market is attributed to the widespread application of PIM due to which new opportunities are coming on the way of manufacturers. The powder injection molding market is likely to grow with a double-digit CAGR over the entire forecast period.
Power injection molding is an industrial manufacturing solution for the production of alloy, metal, and ceramic parts. Furthermore, this process is massively used on account of its advantages, such as cleaner product output over other processes. One of the primary factors driving the growth of the global powder injection molding market comprises of growing demand for miniaturized complex components to be used as high-performance materials pertaining to various end-user industries.
The rising demand for medical equipment has fueled the need for power injection molding in order to manufacture micro-parts. These parts are further used in various medical procedures and techniques. Invasive surgery, intravenous therapy, advanced drug delivery, and vascular therapy require precise equipment manufactured with state-of-the-art manufacturing methods.
Elevate Your Market Presence and Request a Sample Report to Gain Advantage! https://www.futuremarketinsights.com/reports/sample/rep-gb-186
Key Takeaways
- The power injection molding market is segmented on the basis of its technology which includes ceramic injection molding (CIM) and metal injection molding (MIM). These technologies are predicted to bolster over the assessment period.
- The growth of the global powder injection molding market is anticipated to propel owing to the demand from applications such as automotive, medical, healthcare, aerospace, consumer products, industrial machinery, and others.
- Rising industrial expansion activities in the Asia Pacific and other regions are likely to augment growth in the market over the projection period. Furthermore, expansion in the machine manufacturing industry in the last few years serves as an opportunity for powder injection molding in various interrelated applications.
- On the basis of raw materials, the global powder injection molding market is categorized under the stainless steel, soft magnetic alloys, titanium alloys, and low-alloy steel segments. Raw materials are selected on the basis of their end-use industry where innovation in the material science industry has led to the expansion of application areas.
- Some of the primary end-usages that bolster the demand for powder injection molding processes include electronic gadgets, medical equipment, firearms, and automotive components.
- Intricate shapes of medical devices comprise specialized manufacturing methods. Moreover, the ability of the powder injection molding method to form precise shapes as compared to conventional manufacturing methods is supplementing the growth of the medical and healthcare application segment.
Competitive Landscape
Major companies in the global powder injection molding market are focusing on technologically advanced solutions. New products are being launched with high-tech features in order to cater to a wider consumer base.
Key Players
- ARC Group
- Advanced Materials Technologies Pte. Ltd.
- Epsom Atmix Corporation
- PSM Industries Inc.
- Plansee Group
- Indo-US MIM Tec Pvt. Ltd.
Uncover Market Insights: Gain Valuable Information on the Global Powder Injection Molding Market and its Regional Contributions. Contact an Expert Now! https://www.futuremarketinsights.com/ask-question/rep-gb-186
Key Segmentation of the Powder Injection Molding Market
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
About Future Market Insights (FMI)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube