February 17, 2023 07:30 ET | Source: Data Bridge Market Research Data Bridge Market Research
HOUSTON, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Metal Injection Molding (MIM) Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. The top-notch Metal Injection Molding (MIM) market research report provides estimations about the growth rate and the market value based on market dynamics and growth-inducing factors. While preparing this market analysis report, a few of the attributes that have been adopted include the highest level of spirit, practical solutions, committed research and analysis, innovation, integrated approaches, and the most up-to-date technology. The report offers a wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand, and import/export. The winning Metal Injection Molding (MIM) market report also assesses the growth rate and the market value based on market dynamics and growth-inducing factors.
The global metal injection molding (MIM) market was valued at USD 3.96 billion in 2021 and is expected to reach USD 9.80 billion by 2029, registering a CAGR of 12.00% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Metal Injection molding, also known as MIM technology, is a metalworking manufacturing technology. It is a process that is done by mixing the binder material to create a feedstock that is used to produce the final product. It can eliminate several product finishing steps and make it possible to produce different parts of complex shapes with high precision at minimal costs. It is used in various applications such as electronics, power tools and others.
Metal injection molding (MIM) is rising in demand across various industries, extensively in automotive, electrical and electronics. Metal injection molding is gaining traction in the electronics industry as the industry's demand for small and complex parts grows, as does the demand for miniaturization of electronic devices. The global metal injection molding market is being fueled by the exponential growth of the automotive industry, particularly in emerging economies such as India and China.
The MIM manufacturing process allows for achieving the highest precision in the finished product regardless of the complexity of its design. It also allows producing components with precise tolerances. Compared to traditional metalworking technologies, MIM design is flexible and almost unlimited. this factor gives the ultimate freedom to the product designer in order to customize teir own designed patterns. Moroever, larger MIM parts can also be produced (weighing up to 453g). Additionally, any structure or shape can be achieved using using metal injection moulding. This factor is creating significant growth opportunities for the market over the forecasted period.
Some of the major players operating in the Metal Injection molding market are:
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Market Drivers: Metal Injection Molding (MIM) Market
Metal injection molding (MIM) technique is a huge time saver and cost-efficient metalworking process compared to traditional manufacturing methods. The technology reduces the product development cycle and does not require expensive multistage machining operations for functioning. It further provides complex product designs for metal parts. It also allows producing components with complex shapes and precise tolerances. Additionally, it provides the customer with the highest density, tolerance, surface treatment, and branding factors. The MIM technology ensures near full density of metal parts, as high as 99.5%. These enhanced factors are driving the growth of the market over the forecasted period.
Core Objective of Metal Injection Molding (MIM) Market:
Every firm in the Metal Injection Molding (MIM) market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
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Key Industry Segmentation: Metal Injection Molding (MIM) Market
Regional Analysis/Insights: Metal Injection Molding (MIM) Market
The countries covered in the metal injection molding (MIM) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth in this region is attributed to the increasing population and rising industrialization.
North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the rapid economic development and rising demands from various end-user industries in the region.
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