Selbyville, Delaware, Nov. 13, 2019 (GLOBE NEWSWIRE) --
According to a report by Global Market Insights, Inc., the metal injection molding parts market forecast to exceed US$ 5 billion by 2026. Growing demand from electronics industry is fueling the MIM parts market growth.
Growing aerospace industry across the globe will fuel the MIM parts business growth over the forecast period. Recovery in GDP growth, stabilization of crude oil prices and growth in passenger travel in Asia Pacific, the Middle East and Latin America is likely to drive the commercial aircraft sectors growth in coming years. In aerospace industry, metal injection molding technique used to manufacture various components such as compressor blades, bushings, rotors, fasteners, brackets, inlets, etc. Moreover, recovery in U.S. defense budget as well as increased defense spending from other countries such as China, Japan, India and Saudi Arabia are expected positively impact the defense aircraft demand during the forecast timespan.
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Some major findings of the MIM parts market report include:
- Stainless steel will have largest share over the forecast period
- China is anticipated to gain significant growth rate in the projected time frame primarily supported by its expanding electronics industry.
- Introduction of titanium metal injection molding in the industry can fuel demand for the MIM parts.in the coming years.
- Strengthening defense industry in various countries can result in an increased demand for MIM parts in firearms production.
- Rising automotive sales in emerging economies such as India, China and Japan are anticipated to fuel market growth.
Decreasing cost of technology and sustained development of new technologies are expected to boost the consumer electronics industry in next few years. MIM in consumer electronics industry used in fiber optic parts, smartphone parts, lightning devise, etc. Electronics was the largest end-user industry in 2018 with a market share over 33% and projected to grow with a CAGR over 13% during the forecast timespan.
Stainless steel was the most used material for metal injection molding, and it accounted for over 60% market share in 2018. It is anticipated to retain its leadership position by the end of the forecast period. High usage of stainless-steel can be attributed to its properties such as corrosion resistance, high strength and density, which makes it suitable for metal injection molding process. It is extensively used in the end-use industries such as automotive, firearms and consumer goods, which are expected to exhibit a healthy growth rate during the forecast timeframe.
Browse key industry insights spread across 224 pages with 329 market data tables & 29 figures & charts from the report, “(Metal Injection Molding) MIM Parts Market Size By Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Materials), By Industry (Automotive, Consumer Goods, Electronics, Medical, Firearms, Aerospace), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mim-parts-market
Consumer goods industry is expected to experience healthy growth in near future. Penetration of new feature-laden products in the market, strengthening distribution channels and increasing purchasing power of the people in emerging economies are poised to drive the consumer good industry growth during the forecast timeframe. Increasing consumer preference for eye catching and sophisticated products will augment the MIM parts demand in consumer industry in coming years.
New product development is the strategy adopted by key industry players to enhance their market share. For instance, AMT and CMG Technologies have introduced 3D printed MIM parts Prominent industry participants in the MIM parts market are Smith Metals, Advanced Material Technologies, CMG Technologies, Form Technologies Company, CN Innovations Holdings Ltd, ARC Group, Akron Porcelain & Plastics Co., Kinetics Climax Inc, PSM Industries, Nippon Piston Ring Co. Ltd. and Hoganas AB.
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Partial chapter from report table of contents:
Chapter 2. Executive Summary
2.1. (Metal Injection Molding) MIM Parts industry 360° synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Material by end user trends
2.1.3. Industry trends
2.1.4. Regional trends
Chapter 3. (Metal Injection Molding) MIM Parts Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Value addition
3.3.3. Raw material analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.3.5.1. List of key manufacturers/distributors
3.3.5.2. List of key/potential customers
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing product demand from the automotive industry
3.4.1.2. Government spending on arms & ammunition in the U.S.
3.4.1.3. Rapidly growing consumer electronics sector in Asia Pacific
3.4.1.4. Substantial production backlogs of commercial aircraft along with increasing air traffic
3.4.2. Industry pitfalls & challenges
3.4.2.1. Volatility in stainless steel price dynamics
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.6. Growth potential analysis
3.7. Company market share analysis, 2018
3.7.1. Strategy dashboard
3.7.2. Key stakeholders
3.8. Innovation & Sustainability
3.8.1. Patent analysis
3.8.2. Technology landscape
3.9. Porter’s analysis
3.9.1. Supplier power
3.9.2. Buyer power
3.9.3. Threat of new entrant
3.9.4. Industry rivalry
3.9.5. Threat of substitutes
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.1.1. R&D cost
3.10.1.2. Manufacturing & equipment cost
3.10.1.3. Raw material cost
3.10.1.4. Distribution cost
3.10.1.5. Operating cost
3.10.1.6. Miscellaneous cost
3.10.2. Price by material
3.10.3. Price by industry
3.11. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.