According to the report “Powder Injection Molding Market: By Technology (ceramic injection, Metal injection) By Raw Material (Stainless steel, Soft magnetic alloys, Titanium alloys, Low-alloy steel) By End-Use Application (Electronic gadgets, Medical equipment, Firearms, Automotive) & By Region-Forecast (2016-2021)” published by IndustryARC, estimates the market to reach $3,268.7 Million by 2021.
Browse Market 32 Tables, 74 Figures spread through 166 slides and an in-depth TOC on “Global Powder Injection Molding Market (2016 - 2021)”
Powder injection molding is produced in high volume of shaped components from metallic powders. The molds developed have industrial grade strength, high customization catering to the needs of the user and can be replaced with ease due to being produced in large numbers. Powder injection molding encompasses Metal Injection Molding (MIM) and Ceramic Injection Molding (CIM), is a major manufacturing technology, which find its use in various end-use applications such as automotive, electronics, medical, aerospace & defense, and many more. However, automotive segment would continue to be a dominant application for powder injection molding market throughout the forecast period, followed by personal care and food. The key factor that has augmented the growth of top players in this highly competitive powder injection molding market is their adaptability to suit the customer requirements and early entrance into the emerging application areas like electronics, adhesives and sealants and agriculture. As per a recent report from IndustryARC, the market for powder injection molding was $2.24 billion in 2016 and is anticipated to see an upsurge during the forecast period and is estimated to grow at a CAGR of 7.82% between 2016 to 2021.
The ease of manufacturing disparate components of additional complexity without additional costs along with the demand for the industrial hand tools, medical equipment and household applications is driving the powder injection molding market further. The competitiveness of Powder Injection Molding specially MIM is limited by the relatively high raw material cost as compared to cast metals and alloys.
The powder injection molding market is highly fragmented with a many small players across the world, where the players do not stand a chance to affect the pricing of the products. The industry is purely dependent on the production of raw materials which in this case are metals and alloys for MIM and ceramic. Since, there exists more number of suppliers in the market, the switching cost for the buyers is low.
The Prominent Players in this Market Include
- Advanced Materials Technologies Pte. Ltd.
- Epsom Atmix Corporation
- PSM Industries Inc.
- Plansee Group
- Indo-US MIM Tec Pvt. Ltd.
These companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the market, contributing to maximum share of overall revenue. The companies being pioneer in manufacturing powder injection molding for all major segments like automobile and electronics has remained as the dominant player with constant product launches and developments.
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