Emerging Players in Metal and Ceramic Injection Molding Market
Metal and ceramic injection molding are technologically advanced manufacturing processes used in the production of the different complex and precision components. Metal and ceramic injection molding together called powder injection molding (PIM). This technology provides flexibility in design for numerous choices of materials.
The global metal and ceramic injection molding market is estimated to account for US$ 3,194.2 Mn in terms of value by the end of 2019.
Drivers:
Robust demand for the technology from healthcare and medical industry is primarily fueling the market growth of the metal and ceramic injection molding. This technology is used to develop medical equipment such as sensors, catheter tips, implants, tubes, and micro-optics. Moreover, the growing demand for miniature components in producing medical micro parts across the healthcare industry is again anticipated to propel the demand for micro injection molding.
Market Restraints
Limitation on the manufacturing of three-dimensional products is expected to hinder the market growth. The challenges associated with the size and weight of the molded parts are hindering the market growth.
The high price of raw materials used in the technology is restricting the adoption of metal and ceramic injection molding which increases the overall price of the metal injection molded products. This factor is expected to hinder the market growth over the forecast period.
Market Trends/Key Takeaways
The growing trend of using stainless steel for metal injection molding due to the high demand for steel products is expected to augment the market growth. Stainless steel products are gaining huge demand from the automotive industry due to their complexity and high strength properties. Also, a complex and reliable structure such as electronic systems, engines, and locking mechanisms can be produced by using this technology. Thus, the growing demand for stainless steel products is propelling the market growth.
Global Metal and Ceramic Injection Molding Market – Impact of Coronavirus (Covid-19) Pandemic
The novel Coronavirus (COVID-19) has impacted almost all the industries globally including industrial automation and machinery that is the major end-user of the metal and ceramic injection molding market. Thereby, also impacting the growth of the market till the year 2021.
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