Metal Injection Molding Market Size, Segmentation to 2027

Metal Injection Molding Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Material, and Others) and Industry Vertical (Automotive, Electrical and Electronics, Consumer Goods, Firearms and Defense, Medical and Orthodontics, and Others)

Publication Month : Feb 2021

  • Report Code : TIPRE00007212
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 153
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[Research Report] The metal injection molding market was valued at US$ 2,458.68 million in 2019 and is projected to reach US$ 4,338.52 million by 2027; it is expected to grow at a CAGR of 7.5% from 2019 to 2027.

Metal injection molding is a flexible, cost-effective, and innovative process that provides versatility to product designers and production engineers while using metal alloys. Metal acts as a good substitute for plastic and ceramic components that are incapable of performing as per requirement. Metal injection molding focuses on quality and precision, and the process is closely monitored to meet the requirements. When a metal alloy is chosen for a specific application, the component's geometry gets limited by the cost of shaping operations. The metal injection molding helps in overcoming this issue with the formation of the net shape parts in the tool. The metal injection molding offer benefits such as resistance to wear & corrosion, thermal stability, high mechanical strength, and dimensional stability.

In 2019, Asia Pacific held the largest share of the global metal injection molding market. The rise in urbanization, increase in manufacturing industries, and upsurge in the demand for automobiles and electronics is expected to drive the market growth in Asia Pacific. Rising demand for smart vehicles, and medical and consumer goods in the region favors the growth of the metal injection molding market. Metal injection molding provide benefits such as fast production, high efficiency, design flexibility, and large material choice. The rise in awareness about the benefits offered by metal injection molding and the growing safety concerns in electronic vehicles supports the growth of the market. Asia Pacific is estimated to register the highest CAGR in the market over the forecast period.

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of December 2020, the US, India, Brazil, Russia, France, the UK, Italy, Spain, Germany, Colombia, Argentina, and Mexico are among the most affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~106,008,943 confirmed cases and 2,316,389 total deaths globally. The crisis is hindering various industries across the globe due to lockdowns, travel bans, and business shutdowns. The global manufacturing industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns. The lockdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is restricting the global supply chains and hindering manufacturing activities, delivery schedules, and various goods sales. In addition, global travel bans imposed by countries in Europe, Asia, and North America are adversely affecting business collaborations and partnership opportunities. All these factors are disrupting the manufacturing of automotive, medical, defense, and electronics goods, which is restraining the growth of the metal injection molding market.

Geographic Overview of Metal Injection Molding Market


Geographic Overview of Metal Injection Molding Market
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Market Insights

Rising Utilization of Technology by Automotive and Electronics Industry

Metal injection molding is highly exploited by industries such as automotive, electrical, and electronics. It is highly utilized in the production of consumer electronics. Metal injection molding is gaining momentum in the electronics industry due to the rising demand for small and complex parts in the industry coupled with the increasing demand for the miniaturization of electronics devices. Metal injection molding is utilized to manufacture Apple's Lightning Connector, a component that is produced in huge numbers. Metal injection molding is also used to produce fiber-optic parts, cold plates, heat sinks, and mobile phone parts. For the past few years, the production of portable computing devices, cellular phones, and other personal electronic devices has increased exponentially. The proliferating international smartphone market offers immense possibilities for metal injection molding. Hence, the rise in the adoption of these products drives the metal injection molding industry's expansion. Currently, the automotive sector is a significant consumer of metal injection molded parts. High complexity, high strength parts are used in engines, turbochargers, gearboxes, steering systems, locking mechanisms, and electronic systems. The demand for molded miniature products is escalating in the automotive sector, attributed to their high strength and complexity in their structures. The exponential growth of the automotive industry, especially in emerging economies such as India and China, is fueling the growth of the global metal injection molding market.

Material Insights

Based on material, the global metal injection molding market is segmented into stainless steel, low alloy steel, soft magnetic material, and others. In 2019, the stainless steel segment led the market. Stainless steel has good stiffness, wear, and corrosion resistance properties. It is a widely used injection molding material. Stainless steel components that are employed in metal injection molding possess high wear & corrosion stability. The metal injection molding help in enhancing the strength, achieving high densities, corrosion resistance, and flexibility of stainless steels. These materials are produced from elementally blended or pre-alloyed stainless steels, including ferritic, austenitic, and precipitation hardening grades. The utilization of metal injection molding for stainless steel is steadily increasing in the automotive and medical instruments sector. The initial use and overall success of the metal-injection-molded orthodontic brackets demonstrated the corrosion resistance and biocompatibility of injection-molded stainless steel applications.

Global Metal Injection Molding Market, by Material– 2019 & 2027

Global Metal Injection Molding Market, by Material– 2019 & 2027
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Industry Vertical Insights

Based on industry vertical, the metal injection molding market is segmented into automotive, electrical and electronics, consumer goods, firearms and defense, medical and orthodontics, and others. The electrical and electronics segment accounted for the largest share in the market in 2019. Metal injection molding focuses on precision and quality, and the process is a closely monitored to meet the requirements. The low cost and complex designing capacities of metal injection molding technology reduce manufacturing time and offer high economies of scale. Metal injection molding has diversified electrical and electronics applications such as fiber-optic parts, lightning connector, cold plates and heatsinks, PCB terminal blocks, high-voltage power connectors, solenoids, and smartphone components, micro switches, heat sinks, filter, and switching components, and mobile phone parts. Furthermore, the low cost and complex designing capacities of metal injection molding are expected to boost the market growth in the near future.

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Metal Injection Molding Market: Strategic Insights

metal-injection-molding-market
Market Size Value inUS$ 2,458.68 Million in 2019
Market Size Value byUS$ 4,338.52 Million by 2027
Growth rateCAGR of 7.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Players operating in the metal injection molding market are implementing the mergers and acquisitions and research & development strategies to enlarge their customer base and gain significant market share across the world, which also permits them to maintain their brand name globally.

Report Spotlights

  • Progressive industry trends in the global metal injection molding market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the global metal injection molding market from 2017 to 2027
  • Estimation of global metal injection molding demand across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
  • Recent developments to understand the competitive market scenario and global metal injection molding demand
  • Market trends and outlook coupled with factors driving and restraining the growth of the global metal injection molding market
  • Decision-making process by understanding strategies that underpin commercial interest with regard to global metal injection molding market growth
  • Global metal injection molding market size at various nodes of market
  • Detailed overview and segmentation of the global metal injection molding market, as well as its dynamics in the industry
  • Global metal injection molding market size in various regions with promising growth opportunities

Metal Injection Molding Market – by Material

  • Stainless Steel
  • Low Alloy Steel
  • Soft Magnetic Material
  • Others


Metal Injection Molding Market – by Industry Vertical

  • Automotive
  • Electrical and Electronics
  • Consumer Goods
  • Firearms and Defense
  • Medical and Orthodontics
  • Others


Company Profiles

  • Arc Group Worldwide
  • CMG Technologies
  • Dean Group International
  • Molex, LLC
  • INDO-MIM
  • MPP
  • Sintex A/S
  • Smith Metal Products
  • Shanghai Future Group
  • Form Technologies
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Material and Industry Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global metal injection molding market?

The major players operating in the global metal injection molding market are Arc Group Worldwide, CMG Technologies, Dean Group International, Molex, LLC, INDO-MIM, MPP, Sintex A/S, Smith Metal Products, Shanghai Future Group, and Form Technologies, among others.

Which region held the largest share of the global metal injection molding market?

In 2019, Europe contributed to the largest share in the Global Metal Injection Molding market. Attributed to the Europe’s flourishing economic conditions, there has been a spur in the region's industrial activities. The exponential growth in the industrial sector, including electrical and electronics, automotive, consumer good, medical and orthodontics and others, has influenced the metal injection molding demand. Europe has matured the automotive, aerospace, medical, and consumer electronics sector, and it is further supported by high technology connectivity environment. Along with the advancing technology, the trend of using advanced products boosts the demand for metal materials and further influences the market growth for the metal injection molding market. Additionally, the consumers' rising personal disposable income has led to increasing demand for consumer electronic products. These factors boost the metal injection molding market in Europe.

Based on material, why stainless steel segment accounted for the largest share in the global metal injection molding market?

The stainless steel segment had a significant market share, and this trend is expected to continue over the forecast period. Metal injection molding makes use of metal powders like stainless steel. Stainless steel has good stiffness, wear, and corrosion resistance properties. Stainless steel is widely used injection molding materials. The stainless steel components that are employed in metal injection molding possess high wear & corrosion stability. The metal injection molding (MIM) process enhancing the strength, achieves high densities, corrosion resistance, and flexibility of stainless steels. These materials are produced from elementally blended or pre-alloyed stainless steels, including ferritic, austenitic, and precipitation hardening grades.

The List of Companies - Global Metal Injection Molding Market

  1. Arc Group Worldwide
  2. CMG Technologies
  3. Dean Group International
  4. Molex, LLC
  5. INDO-MIM
  6. MPP
  7. Sintex A/S
  8. Smith Metal Products
  9. Shanghai Future Group
  10. Form Technologies

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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