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Global Metal Injection Molding Market Report 2023: Sector to Reach $7.1 Billion by 2028 at a CAGR of 10.5% | ||
By: PR Newswire Association LLC. - 30 Mar 2023 | Back to overview list |
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DUBLIN, March 30, 2023 /PRNewswire/ -- The "Metal Injection Molding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering. The global metal injection molding market size reached US$ 3.9 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 7.1 Billion by 2028, exhibiting a CAGR of 10.5% during 2022-2028. Companies Mentioned
Metal injection molding (MIM) refers to an advanced, cost-effective, metalworking procedure, wherein finely powdered metal is mixed with binder material to manufacture the output of feedstocks. These raw materials are further solidified and shaped accurately with the assistance of injection molding. After formation, conditioning operations are executed on finished feedstocks for sintering, removing blinders, and densifying the powders. MIM offer corrosion, thermal stability, high mechanical strength, and dimensional stability to small, finished metal products, due to which they are extensively employed across various industrial applications. In line with this, the extensive deployment of metal injection molding technology for manufacturing surgical equipment, including ablation electrodes, endoscopic graspers, scissors, orthopedic tools, and trauma plates is acting as another growth-inducing factor. Moreover, the shifting inclination of manufacturers toward MIM solutions over conventional molding procedures is contributing to the market growth. Metal injection molding assists in completing operations at affordable prices and reducing the production time and wastage of raw materials used in the production of feedstocks. Other factors, such as rapid urbanization and industrialization, particularly in emerging economies, strategic collaborations amongst key players and the rising investments in research and development (R&D) activities to introduce advanced MIM for mass designing complex shaped metal components are creating a positive outlook for the market. For more information about this report visit https://www.researchandmarkets.com/r/wisdr6 About ResearchAndMarkets.com Media Contact: Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
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