Metal and Ceramic Injection Molding Market
Metal and Ceramic Injection Molding Market - Global Industry Assessment & Forecast
- By Materials Iron & Steel, Stainless Steel, Copper, Aluminum, Alumina, Zirconia, Other Materials
- By Applications Medical & Healthcare, Industrial Machinery, Consumer Products, Automotive, Aerospace, Other Applications
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 3.1 Billion|
|Revenue 2028:||USD 4.9 Billion|
|Revenue CAGR (2022 - 2028):||8.2%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Global Metal and Ceramic Injection Molding Market is valued at USD 3.1 Billion in 2021 and is projected to reach a value of USD 4.9 Billion by 2028 at a CAGR of 8.2% over the forecast period.
Due to the rising demand for non-invasive cosmetic procedures in developed countries, the worldwide Metal and Ceramic Injection Molding market is predicted to expand rapidly over the coming years. Companies are pouring resources into R&D to create cutting-edge products to differentiate themselves from the competition. Businesses are tasked with increasing their market share and satisfying client needs by developing and releasing superior products. United States Steel Corporation's (USSC) announcement of its new P800 family of high-performance cold-drawn steel alloys, with a specific focus on aluminum alloy sheets and rolled products applications in automotive and heavy engineering industries. The increasing adoption of 3D printing in manufacturing processes also supports the market.
Metal and Ceramic Injection Molding Market Size, 2021 To 2028 (USD Billion)
Recycling efforts are continuing to increase throughout the world as people become more conscious about our impact on the environment. By early 2023, more than 50% of all plastics will come from recycled sources. This increase in recycling will help reduce reliance on virgin materials, lowering product costs and improving safety standards. Over the next few years, the expansion of the global market is expected to be bolstered by several factors. The Metal and Ceramic Injection Molding market is predicted to expand rapidly during the next eight years, because of the massive investment of manufacturers in this sector. Growth in the market is expected to be fueled by the increasing industrialization of developing economies. Growth in the sector is expected to be boosted over the next few years by the booming vehicle market and the consequent high demand for this technology in manufacturing. Over the next eight years, the industry is forecast to benefit from the expansion of the medical and healthcare sectors. It is anticipated that growth in the industry will be bolstered by rising disposable income and rising standards of living in developing nations.
The growth of the Metal and Ceramic Injection Molding market is widely attributed to the numerous benefits of employing these technologies. Efficient use of resources and adaptable design lead to economies of scale that shorten manufacturing times by doing away with non-essential processes like finishing and machining. Preparing feedstock for injection molding (either metal or ceramic), molding (either by hand or using an injection molding machine), and sintering are the four basic phases of production. The Metal and Ceramic Injection Molding market is predicted to expand in the next few years because of rising demand for consumer goods, including eyeglasses and watches. It is assumed that the rising demand for firearms would increase the popularity of Metal and Ceramic Injection Molding. Over the projection period, industry growth is anticipated to be fueled by the massive demand for minimally invasive cosmetic surgery in developed areas. It is predicted that size and weight restrictions for completed fragments will slow market demand in the coming years. Over the next eight years, it is expected that several new applications for powder injection molding will provide opportunities for the industry's providers. Demand in this sector is anticipated to be challenged by the ease of use and accessibility of alternative molding techniques. Government regulations about occupational safety and health (OSH) are some of the manufacturers' most important regulatory constraints. These regulations often require long product life cycles, which limits the feasibility of using traditional manufacturing processes such as injection molding in certain cases. Recent years have been difficult for the business due to the prevalence of superior substitute technologies. These alternatives provide simple tooling, cost-effective operations, and mild working needs, all of which have hampered the sector's expansion.
Role of Technology for Market Boost
Technology plays a major role in the growth of the Metal and Ceramic Injection Molding market. One of the primary reasons for this is that it has helped to reduce the time taken to produce a product. In addition, the use of advanced technology has also allowed for more complex designs to be produced. This has made it easier for companies to meet the demands of their customers. Another reason for the market’s growth is that it offers an efficient way of producing products. This is because injection molding can create products with very few blemishes. As a result, companies can achieve high levels of quality while saving on costs.
Moreover, this process is quick and easy to set up, making it ideal for businesses with limited resources. In addition, technological advancements have made it possible to produce complex shapes and components using injection molding. This has allowed firms to tap into new markets and create products that were not possible before. This process has even been used in space missions by NASA. Technology plays a significant role in the growth of the Metal and Ceramic Injection Molding market.
Top Market Trends
- One of the major factors driving the growth of the Metal and Ceramic Injection Molding market is the increasing adoption of 3D printing technology in various industrial applications. According to our research study, global spending on 3D printing solutions is expected to proliferate. This increase in spending will help drive the demand for advanced engineering solutions, such as those offered by Metal and Ceramic Injection Molding products.
- Another factor contributing to the growth of the Metal and Ceramic Injection Molding market is the rising demand from automotive industry players. Automotive companies are increasingly looking for innovative ways to reduce manufacturing costs, and Metal and Ceramic Injection Molding products are one such solution that can deliver cost savings over traditional methods such as stamping or die casting.
- Growing demand for high-quality, customized products: Customers increasingly want customized products, and this trend is likely to continue. Not only do customers want unique products, but they also want products that meet their specific needs and expectations. As injection molding becomes more automated, it becomes easier for businesses to produce high-quality, custom-made items quickly and at low costs.
- Increased emphasis on performance and sustainability: As manufacturers strive to become more sustainable, they're turning to injection molding as a viable option for producing environmentally friendly products. Injection Molding can help reduce emissions by reducing the need for conventional manufacturing processes such as stamping and machining. Additionally, injection molding can create lighter-weight items than traditional manufacturing methods, reducing environmental impact.
- Rising demand from emerging markets: Many companies are turning to injection molding to meet the growing demand from emerging markets such as China and India. These countries are experiencing rapid economic growth, driving increased consumer demand for goods ranging from cars to electronics. Injection Molding allows manufacturers to quickly produce high-quality goods without investing in production facilities that might not be needed in later years.
The Global Metal and Ceramic Injection Molding Market is segmented based on Materials, Applications, and Region. Based on the Materials, the market is segmented into Iron & Steel, Stainless Steel, Copper, Aluminum, Alumina, Zirconia, and Other Materials. Furthermore, based on the Applications, the market is segmented into Medical & Healthcare, Industrial Machinery, Consumer Products, Automotive, Aerospace, and Other Applications. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Below tree is interactive. You can click the nodes to get more information.
Based on Materials
Iron & Steel is the dominant material used in injection molding, accounting for more than two-thirds of the market share during the forecast period. This is because these materials are strong and durable, making them preferred for high-quality products. Stainless steel is also gaining popularity due to its corrosion resistance. Copper is expected to grow faster than other materials soon, owing to its increasing demand in the aerospace industry. Aluminum is projected to be one of the fastest-growing materials in the Metal and Ceramic Injection Molding market due to its increased adoption in automotive industries. Alumina is expected to experience moderate growth owing to its wide range of applications across various industries, such as medical devices, industrial components, electronics, etc. Zirconia is expected to be popular among pharmaceutical and aerospace industries due to its mechanical strength, electrical conductivity, and thermal stability. The titanium, brass, bronze, etc. alloy injection molding market is expected to grow at a higher rate in 2025 owing to increasing demand from various industrial sectors such as the automotive industry, aerospace industry, medical devices & implants, and food & beverage.
Based on Applications
Medical & Healthcare is the largest application segment of the Metal and Ceramic Injection Molding market, with a share of 43%. This is followed by industrial machinery with a share of 24%. The remaining segments have a market share of less than 10%. Consumer Products: This segment is expected to witness high growth owing to increasing consumer preference for products made of metal and ceramic. Automotive: This segment is projected to grow slower than others due to restrained global automobile sales. However, this sector is expected to witness significant growth in the coming years owing to rising demand from emerging economies such as China and India. Aerospace: This segment is projected to grow at a higher rate than the other segments owing to increasing demand for aircraft and aerospace equipment.
Based on Region
The market is segmented based on region, and North America is expected to be the largest market in terms of revenue by 2025. In Europe, the Metal and Ceramic Injection Molding market is anticipated to grow at a CAGR of 5.9% over the forecast period. The growth can be attributed to increased demand for high-quality engineered products such as automotive parts, medical devices, and wind turbines. Asia Pacific is projected to be the fastest-growing market in terms of volume over the forecast period. Latin America is expected to exhibit a higher growth rate than other regions owing to its high growth potential in infrastructure and transportation. In the Middle East & Africa, the Metal and Ceramic Injection Molding market is expected to grow at a CAGR of 6.1% from 2021 to 2028.
The key 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), Ortech Advanced Ceramics (Us), Epsom Atmix Corporation (Japan), INDO-MIM (US), Britt Manufacturing Company (US), Cypress Industries (US), AMT (China), GKN Powder Metallurgy (US), PTI (India), Smith Metal Products (US) and others.
- Schneider Electric launched its Prodigy series smart machines, designed for automated production lines in the industrial sector. These machines have integrated intelligence capabilities that allow them to identify and take action on potential problems, resulting in improved quality control and productivity.
- 3D Systems Corporation (3DSIC) has been investing in new Metal and Ceramic Injection Molding technologies, such as its Continuum Metal Jet Printing technology that can create parts with complex contours without using molds. The company is also developing self-healing materials for use in Metal and Ceramic Injection Molding processes.
- Henkel AG (Henkel) has been working on expanding its portfolio of metals and ceramics for use in industrial applications, such as automotive manufacturing, medical devices, and consumer goods packaging. In addition, Henkel has developed special coatings for various industrial applications that make it easier to form composite materials with metals or ceramics than ever before.
- Siemens AG (Siemens) plans to invest €1 billion over the next five years in research and development related to metal and ceramic technologies to stay ahead of the competition. The company will focus on developing new processing technologies for metals and ceramics. Siemens AG announced its new VAROS 700 multi-purpose injection molding machine, designed for large-volume production across various industrial sectors, including automotive, electronics, medical devices, packaging, and other consumer goods sectors.
Segmentation of the Global Metal and Ceramic Injection Molding Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Metal and Ceramic Injection Molding in terms of revenue?
The global Metal and Ceramic Injection Molding valued at USD 3.1 Billion in 2020 and is expected to reach USD 4.9 Billion in 2028 growing at a CAGR of 8.2%.
Which are the prominent players in the market?
The prominent players in the market are 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), Ortech Advanced Ceramics (Us), Epsom Atmix Corporation (Japan), INDO-MIM (US), Britt Manufacturing Company (US), Cypress Industries (US), AMT (China), GKN Powder Metallurgy (US), PTI (India), Smith Metal Products (US).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 8.2% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Metal and Ceramic Injection Molding include
- Increase the demand in healthcare and medical industry
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Metal and Ceramic Injection Molding in 2020.