Growing aerospace industry across the globe will fuel the MIM parts business growth over the forecast period. Recovery in GDP growth, stabilization of crude oil prices and growth in passenger travel in Asia Pacific, the Middle East and Latin America is likely to drive the commercial aircraft sectors growth in coming years. In aerospace industry, metal injection molding technique used to manufacture various components such as compressor blades, bushings, rotors, fasteners, brackets, inlets, etc. Moreover, recovery in U.S. defense budget as well as increased defense spending from other countries such as China, Japan, India and Saudi Arabia are expected positively impact the defense aircraft demand during the forecast timespan.
Decreasing cost of technology and sustained development of new technologies are expected to boost the consumer electronics industry in next few years. MIM in consumer electronics industry used in fiber optic parts, smartphone parts, lightning devise, etc. Electronics was the largest end-user industry in 2018 with a market share over 33% and projected to grow with a CAGR over 13% during the forecast timespan.
Stainless steel was the most used material for metal injection molding, and it accounted for over 60% market share in 2018. It is anticipated to retain its leadership position by the end of the forecast period. High usage of stainless-steel can be attributed to its properties such as corrosion resistance, high strength and density, which makes it suitable for metal injection molding process. It is extensively used in the end-use industries such as automotive, firearms and consumer goods, which are expected to exhibit a healthy growth rate during the forecast timeframe.
Browse key industry insights spread across 224 pages with 329 market data tables & 29 figures & charts from the report, “(Metal Injection Molding) MIM Parts Market Size By Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Materials), By Industry (Automotive, Consumer Goods, Electronics, Medical, Firearms, Aerospace), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Consumer goods industry is expected to experience healthy growth in near future. Penetration of new feature-laden products in the market, strengthening distribution channels and increasing purchasing power of the people in emerging economies are poised to drive the consumer good industry growth during the forecast timeframe. Increasing consumer preference for eye catching and sophisticated products will augment the MIM parts demand in consumer industry in coming years.
New product development is the strategy adopted by key industry players to enhance their market share. For instance, AMT and CMG Technologies have introduced 3D printed MIM parts Prominent industry participants in the MIM parts market are Smith Metals, Advanced Material Technologies, CMG Technologies, Form Technologies Company, CN Innovations Holdings Ltd, ARC Group, Akron Porcelain & Plastics Co., Kinetics Climax Inc, PSM Industries, Nippon Piston Ring Co. Ltd. and Hoganas AB.
126.96.36.199. Substantial production backlogs of commercial aircraft along with increasing air traffic
Metal foam market is estimated to be worth more than $100 million by 2025. Global market size is poised to increase commendably over the coming years owing to increasing investments in infrastructural development along with uses across applications like automotive, aerospace, healthcare, energy, and more.
2013 New Design Plastic Injection Preform Mold
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