Asia-Pacific Metal Injection Molding (MIM) Market – Industry Trends and Forecast to 2030

Asia-Pacific Metal Injection Molding (MIM) Market Analysis and Size

The essential factors contributing to the growth of the metal injection molding (MIM) market in the forecast period of 2023 to 2030 include the rising mass production in various industries such as automotive, consumer goods, electronics, and others which extensively use metal injection molding. Several manufacturing industries are shifting towards metal injection molding as it improves the efficiency of the products, reduces manufacturing steps, and decreases material wastage due to which it is widely opted by consumers which drives the market’s growth.

Data Bridge Market Research analyses that the metal injection molding (MIM) market which was USD 1,482.07 million in 2022, is expected to reach USD 3,009.94 million by 2030, growing at a CAGR of 9.26% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand. 799905.9

Asia-Pacific Metal Injection Molding (MIM) Market Scope and Segmentation

Market Definition

Metal injection molding (MIM) technology is used for the production of metal products. During the procedure injection molding’s design is combined with the strength and reliability of wrought metals for providing cost-effective resolves for very complex geometries of parts. The metal injection molding (MIM) process can produce both large and small volumes of complex shapes with all available materials. Several steps are involved in the process of metal injection molding such as preparing the feedstock, injection molding, binder removal, and others.

Asia-Pacific Metal Injection Molding (MIM) Market Dynamics

Drivers

• Technical advancements and enhanced designs

The metal injection molding procedure helps to achieve the highest precision in the end product regardless of the complexity of its design due to several technological advancements and enhanced designs in metal injection molding. Metal injection molding enables the production of components with several tolerances. Along with this, the design of metal molding injection is very flexible in comparison to traditional techniques due to which consumers are widely using it, which drives the market’s growth.

• Consumes less time and is cost efficient

For the complete functioning and result metal injection molding (MIM) technique consumes very less time and is cost-efficient in contrast to traditional manufacturing methods which widely meet the consumer's demand. Along with this, it reduces the product development cycle and reduces or eliminates the use of expensive multistage machining operations, due to which it is preferred by most consumers, which is driving the market’s growth.

Opportunities

• Growing use of firearms

Metal injection molding is widely used for developing innovative defense equipment which is complex in shape and heavyweight. Along with this metal injection molding is extensively used in the firearms industry for the manufacturing of varied firearms which are required in the defence and other industries. Along with this metal injection molding technology is used for obstructing the trigger from firing, and it shields the hammer from impacting which boots the market’s growth.

• Growing demand for stainless steel

There is a growing demand for stainless steel due to the rising demand for steel products in the Asia-Pacific region which requires metal injection molding for manufacturing. The demand for stainless steel products is increasing due to the surging demand from the automotive industry owing to the complexity and high strength properties of stainless steel which further increases the demand for metal injection molding. Along with this metal injection technology is widely used for the production of stainless steel which is further used as electronic systems, engines, and locking mechanisms can which boosts the market’s growth.

Restraints/Challenges

• Expensive for small production units

The production of metal injection molding is very expensive for small production units. The feedstock used in metal injection technology such as metal powders and thermoplastic binders is very costly than feedstock used in other metallurgical procedures such as conventional powder metallurgy. Along with this, the procedure comprises relatively high tooling cost that makes this technology which makes it a major restraint hindering the market’s growth.

• Fluctuations in raw materials

The cost of the raw materials used in metal injection molding often fluctuates. Some of the materials used in metal injection molding are stainless steel, low alloy steel, carbon steel, magnetic alloys, soft magnetic alloy, cobalt alloy, zirconia, and alumina. The costs of all these materials change relatively due to the mining or extraction, accessibility, and demand of materials in the market which can most of the time lead to high prices due to people preferring other alternatives which hinders the market’s growth.

This metal injection molding (MIM)   market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the metal injection molding (MIM) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021, Metal Powder Products, LLC announced that it had completed the acquisition of Proform Powdered Metals, Inc., headquartered in the U.S. It is among one of the major manufacturers of high-quality sintered bronze bearings, bushings, and spacers.
• In 2021, Argon Medical Devices, Inc. announced the acquisition of Matrex Mold and Tool Inc., which is a manufacturer of high-quality precision injection molded products, headquartered in the U.S.

Asia-Pacific Metal Injection Molding (MIM) Market Scope

The metal injection molding (MIM) market is segmented on the basis of type, material and industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Carbonyl Method
• High-Pressure Gas Atomization
• Ultra-High Pressure Water Atomization

Material

• Stainless Steel
• Low Alloy Steel
• Carbon Steel
• Magnetic Alloys
• Soft Magnetic Alloy
• Cobalt Alloy
• Zirconia
• Alumina
• Controlled Expansion Alloys
• Hard Metals
• High-Temperature Alloys
• Iron
• Nickle
• Chromium
• Molybdenum
• Carbonyl Iron Powder
• Others
• Tool Steel
• Titanium
• Tungsten

Industry

• Automotive
• Electrical Systems
• Fuel System
• Interiors
• Powertrain
• Safety System
• Others
• Aerospace
• Fasteners
• Screws
• Seatbelt Components
• Bushings
• Rotors
• Others
• Defence and Firearms
• Fire Suppression
• Cam Block
• Sensor Housings
• Others
• Electrical and Electronics
• Fibre Optic Connectors
• Filter Components
• Heat Sinks
• Micro-Switches
• Connectors
• Others
• Power Tools
• Industrial
• Sporting Goods
• Medical and Dental
• Surgical Instruments
• Orthopaedic
• Implants
• Others
• Oil Exploration
• IT
• Consumer Goods
• Others

Asia-Pacific Metal Injection Molding (MIM) Market Regional Analysis/Insights

The metal injection molding (MIM) market is analysed and market size insights and trends are provided by type, material and industry as referenced above.

The countries covered in the metal injection molding (MIM) market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Asia-Pacific Metal Injection Molding (MIM) Market Share Analysis

The metal injection molding (MIM) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to metal injection molding (MIM) market.

Some of the major players operating in the metal injection molding (MIM) market are:

• ASH Industries (U.S.)
• Rockleigh Industries. (U.S.)
• Molex (U.S.)
• Schunk Group (Germany)
• Sandvik AB (Sweden)
• TEKNA. (Canada)
• PSM Industries (U.S.)
• GKN Powder Metallurgy (U.S.)
• Advanced Powder Products, Inc. (U.S.)
• Alpha Precision Group (U.S.)
• CMG Technologies (U.K.)
• Epson Atmix Corporation (Japan)
• Hitachi, Ltd. (Japan)
• Smith Metal Products. (U.S.)
• Parmaco Metal Injection Molding AG (Switzerland)
• INDO-MIM (India)
• Optimim. (U.S.)
• ARC Group Worldwide (U.S.)
• Dou Yee Technologies. (Singapore)
• Husky Technologies. (Canada)

SKU-58776