Global Metal and Ceramic Injection Molding Market
Innovative manufacturing processes are called metal injection molding (MIM), and ceramic injection molding (CIM) to create precise and sophisticated net-shaped machines from metal and ceramic powder. Powder injection molding (PIM), which combines these two processes, is common. Powder metallurgy’s infinite variety of materials is made possible by Metal and Ceramic Injection Molding technology, which offers design flexibility (powdered metal and ceramic). The productivity and dimensional restrictions of Metal and Ceramic Injection Molding are superior to slip casting and isostatic pressing.
The global market for Metal and Ceramic Injection Molding will be significantly impacted by the recession in the next years, according to the VMR. While price inflation is anticipated to moderate in 2023, a hike in interest rates will likely cause the economy to grow significantly slower. According to IMF predictions, global inflation will decline from 8.8% in 2022 to 6.5% in 2019. Developing economies are predicted to get less relief as inflation is only projected to drop to 8.1% in 2023. Costs for energy and raw materials will be high for some time.
Over the projection period, it is predicted that the global market for Metal and Ceramic Injection Molding will proliferate because of the increased demand for less invasive cosmetic surgery in developed countries. The market for Metal and Ceramic Injection Molding is expected to increase significantly over the next eight years due to increasing investment by manufacturers in this industry. Rapid industrialization is expected to drive market expansion, especially in developing nations. Additionally, the market development is anticipated to be boosted by significant auto sector expansion and high production demand for this technology. It is projected that expansion and growth in the healthcare and medical sectors will further boost industry demand.
Furthermore, rising disposable income and living conditions in developing nations are expected to hasten market expansion. It is anticipated that various advantages of using these technologies would contribute to expanding the markets for Metal and Ceramic Injection Molding. However, the high cost of the raw materials used in the process, which drives up the overall cost of the metal injection molded items, is impeding the adoption of Metal and Ceramic Injection Molding.
The Asia Pacific region dominates the global Metal and Ceramic Injection Molding market. The availability of low-cost and easy production inputs and supportive government initiatives that position the area as a hub for manufacturing have led to a rise in demand for Metal and Ceramic Injection Molding across various industries. Additionally, the soaring demand for healthcare equipment and electric vehicles is anticipated to fuel market expansion in the years further to come. On the other hand, the second-largest market for global Metal and Ceramic Injection Molding is in North America. The past’s quick modernization and the region’s high need for different industrial and medical equipment have fueled the market expansion. North America’s Metal and Ceramic Injection Molding market is anticipated to increase due to the rising demand for automotive items and medical devices.
Some of the prominent players in the Global Metal and Ceramic Injection Molding Market include- Form Technologies Company (US), CNI (China), Akron Porcelain & Plastics Co. (US), ARC Group Worldwide (US), CMG Technologies (US), PSM Industries (US), NIPPON PISTON RING Co Ltd. (Japan), ABBOT Furnace Company (US), Morgan Advanced Materials (UK), ARBURG GmbH + Co KG (Germany) and others.