Global Powder Injection Molding (PIM) Market Outlook to 2024: Projected to Expand at a CAGR of More Than 10%

Dublin, June 24, 2019 (GLOBE NEWSWIRE) -- The "Powder Injection Molding (PIM) Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The market for Powder Injection Molding (PIM) is expected to grow at a CAGR of more than 10%, during the forecast period of 2019-2024.

Major factors driving the market studied are the rise in demand for Metal Injection Molding (MIM) from automotive industry and the shift of focus from conventional metal forming techniques in the manufacturing of aerospace components. However, growth of bio-based polymers is expected to hinder market growth.

Key Highlights

• Metal Injection Molding (MIM) technology segment dominated the market in 2018 and is expected to grow during the forecast period owing to the growing aerospace, automotive and consumer electronics industries.
• Emerging applications in the optical fiber industry is likely to act as an opportunity in the future.
• Asia-Pacific dominated the market across the globe with the largest consumption from the China and Japan.

Major Market Trends

Rise in Demand for Metal Injection Molding (MIM) from Automotive Industry

• The automotive industry was an early adopter of MIM technology when compared to the other applications. In addition, there is much more scope to increase the awareness and penetration of MIM in the automotive market.
• Metal Injection Molding (MIM) is a molding technology which achieves precise net-shape metal parts. The process involves the combination of ultra-fine metal powders and a polymer binder system to create a feedstock suitable for injection molding. MIM is best suitable for parts with complex geometries, low part mass, and medium to high production volumes.
• The most important applications in cars are high strength, high complexity parts which include turbocharger parts, gearboxes, powertrain applications, locking mechanisms, steering systems, sensors and other electronic systems, and parts for fuel injection systems.
• Metal injection molded (MIM) parts production accounts for around 90% of the total market for powder PIM products and the automotive business is one of the leading application segments for metal injection molding (MIM).
• In Europe, automotive application is the leading application segment for PIM with more than 40% of the market share. Europe accounted for almost 23% of global car production in 2018. Based on these factors, the impact of the rise in demand of metal injection molding market from the automotive industry can be witnessed. This trend gains momentum in the nearby future further igniting the demand for powder injection molding market.

Asia-Pacific to Dominate the Market

• With nearly 40% of the global demand, Asia-Pacific is the most promising market for Powder Injection Molding (PIM) materials, which is likely to dominate the market in the near future. China accounts for over 60% of the demand for Powder Injection Molding (PIM) in this region.
• China is also one of the major global markets for Powder Injection Molding (PIM). Sustained demand for Powder Injection Molding (PIM) is witnessed through its robust electronics, aerospace and defense (A&D) sectors.
• The growth of powder injection molding market in China has benefited from the electronics industry (such as the mobile phone industry), which has seen the whole industry skyrocket since 2009.
• Moreover, China has the world's largest electronics production base and offers a tough competition to existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, tablets, and so on, have the highest growth in the market in the consumer electronics segment.
• Despite the decrease in the production of automotive industry in 2018, the significant development of medical and electronics industry, has resulted in a significant growth of the Chinese Powder Injection Molding (PIM) industry in 2018.
• In addition, the growing automotive, aerospace and consumer goods industries in the countries like China, Japan, India and South Korea further augmented the demand for metal injection molding market which in turn created the demand for powder injection molding market.
• The large market size coupled with the huge growth of Asia-Pacific is quite instrumental in expansion of the global powder injection molding market.

Competitive Landscape

The global Powder Injection Molding (PIM) market is highly fragmented and highly competitive as there are numerous players. The major companies include ARBURG, ARC Group Worldwide, GKN plc., MPP, and Indo-US MIM Tec Pvt. Ltd.

Key Topics Covered

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rise in Demand for Metal Injection Molding (MIM) from Automotive Industry (In Combustion Engines, Gear Box Parts and Ignition Lock Parts etc.)
4.1.2 Shift of Focus from Conventional Metal Forming Techniques in the Manufacturing of Aerospace Components
4.1.3 Growing Demand of Ceramic Injection Molding (CIM) in the Manufacturing of Watch and Jewellery Industry
4.2 Restraints
4.2.1 Growth of Bio-based Polymers
4.2.2 Rising Environmental Concerns and Stringent EPA Regulations
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Raw Material Analysis
4.6 Regulation Analysis
4.7 Patent Analysis

5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Metal Injection Molding (MIM)
5.1.2 Ceramics Injection Molding (CIM)
5.2 By Application
5.2.1 Aerospace and Defense
5.2.2 Automotive
5.2.3 Electrical and Electronics
5.2.4 Medical Applications
5.2.4.1 Orthodontics
5.2.4.2 Others
5.2.5 Fire Arms
5.2.6 Industrial Applications
5.2.7 Consumer Applications
5.2.8 Others
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.2.4 Rest of North America
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Spain
5.3.3.6 Russia
5.3.3.7 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Advanced Materials Technologies Pte. Ltd.
6.4.2 AMT
6.4.3 ARBURG
6.4.4 ARC Group Worldwide
6.4.5 CNI (Zoltrix Material International)
6.4.6 Dynacast
6.4.7 Epson Atmix Corporation
6.4.8 GKN plc
6.4.9 Indo-US MIM Tec Pvt. Ltd.
6.4.10 MPP
6.4.11 OptiMIM
6.4.12 Ortech Advanced Ceramics
6.4.13 Parmaco AG
6.4.14 Parmatech Corporation (ATW Companies)
6.4.15 RHP-Technology
6.4.16 Schunk GmbH

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rapidly Increasing Demand from Packaging Sector
7.2 Emerging Applications in the Optical Fiber Industry
7.3 Increase of consumption in Mobile Casing

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Related Topics: Mechanical Engineering