Powder injection molding refers to the process of molding metals and ceramics to better electrical properties, mechanical properties, chemical properties, and physical properties in the material. Powder injection molding process is widely utilized in the making of complicated parts of machines. A binder is utilized in the powder injection molding technology, which assists in the binding of polymers and accurate making of complex machine parts. The global powder injection molding (PIM) market is likely to grow substantially over the forecast tenure, thanks to its increased demand from various end use industries.
Some of the typical areas of operation of the powder injection molding technology are as mentioned below:
- Watch industry
- Electrical industry
- Optical industry
- Aeronautics and space industry
- Automotive industry
- Machine building
- Medical technology
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The entire process of powder injection molding takes place in four different phases, which are as mentioned below:
- Material preparation
The global powder injection molding (PIM) market is likely to gather momentum from its extensive use in the automotive industries. This technology finds use in the medical industry as well, it is used in surgical equipments, which is estimated to bolster demand for powder injection molding in years to come. In addition, in the watch making industry, old traditional methods such as precision casting, die-casting are not as useful as powder injection molding technology.
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In terms of region, Asia Pacific is estimated to account for a leading share of the global powder injection molding (PIM) market over the period of review. China is forecasted to account for most of the demand in the region, owing to the strong presence of defense, aerospace, and electronics sectors. It is mostly from the electronics industry, particularly the mobile phone industry, the powder injection molding is expected to benefit the most in China.
Global Powder Injection Molding (PIM) Market: Overview
The demand for power injection molding has increased as it is widely used in manufacturing small components in large quantities. Powder of ceramics, metals or alloys is used in large quantities in this advanced molding technique. In addition, powder injection molding is employed largely in various applications, as it provides high durability and tensile strength to components.
The report on the global powder injection molding market includes all the major factors driving the growth in this market in different regions. The report elucidates on the key ongoing trends in the market and unveils various opportunities that can assists in the growth of this market. Positive and negative both the factors are systematically elucidated in the report to give out the clear picture of the market and how it can grow in the coming years. All the information provided in the report is derived from various authentic sources including journals, podcast, interviews, and various similar platforms. Geographic analysis and competitive landscape is also mentioned in the report help decision makers to take well-informed decisions.
Global Powder Injection Molding (PIM) Market: Trends and Opportunities
Application of metal injection molding has been high in various industries but its significance has recently grown the automotive industry. There is a huge scope of growth of penetration and awareness of MIM in the automotive industry in the coming years. Moreover, other property of powder injecting molders is its capability to withstand high pressure and temperature has fueled its demand in defense and aerospace industries. There is a high demand for powder injection molders in surgical equipment as well.
However, traditional standards and approvals for export might obstruct the growth in the global powder injection molding market. But rapidly growing trade unions between countries might assist the growth in this market.
Global Powder Injection Molding (PIM) Market: Geographic Analysis
In terms geographic analysis, Asia Pacific is projected to lead the market in the coming years. There is huge demand for powder injection molding in the rapidly growing electronic equipment market in this region. Among the various countries, China is likely to create the largest demand for powder injection moldings in the near future. Significant growth in mobile phone industry in China as well as India has also accelerated the growth in this market. Including China and India, South Korea has also offered lucrative growth prospects for this market with the increasing use of powder injection molding in aerospace, automotive, and consumer goods industries.
Global Powder Injection Molding (PIM) Market: Companies Mentioned
This section focuses on the prominent players operating in the global powder injection molding market. It includes all the crucial information related to the competitive landscape, key strategies, and major steps taken by some of the players that will have a significant impact on the market. According to the report, Reaux Medical Molding., Dynacast International, Vibrom, Mahler GmbH, ARC Group Worldwide, Advanced Materials Technologies., ARBURG, Cypress Industries, Fours Industriels B.M.I., and Indo-US MIM Tec Pvt. Ltd. are some of the key players operating in this market.
Companies in the Powder Injection Molding market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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