Metal Injection Molding Market Size is USD 3.03 Billion at a CAGR of 6.3% by 2027
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The global Metal Injection Molding Market is forecasted to reach USD 4.95 Billion by 2027, according to a new report by Reports and Data. Metal InjectionMolding and Ceramic Injection Molding are together known as powder injection molding. The Injection molding technique is used to manufacture products, as it provides benefits, such as high strength, improved surface finish, and the ability to make complex products. Metal Injection Molding imparts a sophisticated production capacity to the conventional molding process. The market is witnessing high demand due to the increasing consumption of complex parts that require high-performance materials and reduced sizes.
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Top Companies: B. Components, Hong Ya Industrial, Abbott Furnace Company, Cypress
Industries, G-Mag International, Datumag Inc., Affinity International LLC.,
Britt Manufacturing Co., Form Technologies Company, and C.N. Innovations
Holdings Ltd., among others.
Further Key Finding from the Report
Suggestion:
·
Zirconia is
anticipated to grow at a CAGR of 4.9% in the forecast period. The product
provides benefits, such as durability and strength. The product is used in various
applications, such as pump seals, oxygen sensors, valves, impellers, precision
ball valves, and medical prostheses.
·
In terms of
Applications, Firearms is forecasted to grow at a CAGR of 6.2% in the forecast
period. Usage of Metal Injection molding leads to an increase in the speed of
production, along with better features of the product, such as better grips.
Also, the product can be customized up to a large range.
·
The Offline Segment
occupied 76.6% of the market share in 2019 owing to the high involvement of the
product, where consumers like to physically examine the product before
purchasing to make sure that it fits their requirements.
·
Latin America is
forecasted to grow at a CAGR of 6.0% in the forecast period. The region has
significant demand owing to the presence of countries, such as Brazil and
Argentina, in the region where electronics and automotive industries drive the
consumption of the market. The growth of the medical industry in the region
also leads to increased market size in the region.
·
China is one of the
largest consumers of the Metal Injection molding market. This is due to the
increasing industrialization in the region. The country is also home to various
end-use industries, which drive up consumption, thus leading to an increase in
the market size.
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