Global Metal and Ceramic Injection Molding Market is Expected to Reach $3.57 Billion in 2020
Transparency Market Research has published a new report titled “Metal and Ceramic Injection Molding Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.” According to the report, the global metal and ceramic injection molding market was valued at USD 1.67 billion in 2013 and is likely to reach USD 3.57 billion in 2020, expanding at a CAGR of 11.5% between 2014 and 2020.
Factors such as rising demand for powder injection molding components in the medical and healthcare industry are expected to boost demand for PIM components during the forecast period. Furthermore, increase in consumption of firearms in the defense industry, particularly in the U.S., is anticipated to propel the metal injection molding industry. Demand for powder injection molding is rising, due to increasing demand for miniaturization of complex components and high performance materials in various industries. The metal injection molding industry accounted for the largest share (more than 70%) of the global powder injection molding market in 2013. However, growth rate of the market is likely to be sluggish in the near future, due to manufacturing limitations pertaining to the weight and size of the end-product through PIM. Recent developments in the production of insulated powders for soft and hard magnetic applications are anticipated to change the fundamental design of motors. In accordance to this, new applications in the powder injection molding industry are projected to offer new opportunities for market growth.
Demand for metal and ceramic injection molded components was the largest from the automotives sector in 2013 and accounted for over 20% of the global market share in 2013, due to substantial investments by manufacturers due to high demand and changing lifestyles through rising disposable income of consumers. Growth in investment in the medical and healthcare industry across the globe is also expected to support the market growth for powder injection molding over the next few years. Electronics and defense are some of the other promising industry sectors where future growth is likely to boost the demand for the metal and ceramic injection molding market.
In terms of revenue, Asia Pacific accounted for the largest market share in the global powder injection molding market in 2013. Asia Pacific emerged as one of the leading producers and consumers of powder injection molded products, due to a rapid increase in industrial activities and current economic conditions in mature markets such as Western Europe. At the end of 2013, Asia Pacific accounted for over 45% of the metal and ceramic injection molding market. Furthermore, the region is expected to witness the fastest growth rate during the forecast period.
Browse the full Metal and Ceramic Injection Molding Market for Automotives, Aerospace, Medical and Healthcare, Industrial Machinery, Consumer Products and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020 report at http://www.transparencymarketresearch.com/metal-ceramic-injection-molding.html
