With the emergence and long-term Impact of COVID-19, Global Metal Injection Molding Market to reach USD 5.4 Billion by 2027
Bizwit Research & Consulting LLP’s Recent Analysis on Global Metal Injection Molding Market is poised to raise up to USD 5.4 Billion by 2027. Metal infection molding is the process that uses infiltration shaping systems to develop precise metal pieces. The ultra-fine aluminum alloy is combined with an adhesive to generate a substrate that is fed into the infusions forming equipment. The necessity for sophisticated molding processes for making complex structural steel that are frequently characterized by high flexibility in design and fast cycle times has fueled the global demand for metal injection molding in metalworking. The growing need for small metal parts in the automotive and aerospace industries is propelling the metal injection molding industry forward.
Asia Pacific dominates the market. Over the forecast timeframe, Asia Segment is expected to grow the most. North America position as the second largest consumer, with a CAGR of 10% momentum in the coming decades. The governments of the United States and Canada are expressing gratitude tax breaks to encourage the initiative of reducing carbon footprint, which has increased predilection for metal injection molding techniques.
The global Metal Injection Molding market is highly competitive owing to the presence of several key manufacturers such as Indo-MIM, Dynacast International, ARC Group Worldwide, Phillips-Medisize, Smith Metal Products, NetShape Technologies, Dean Group International, Sintex A/S, CMG Technologies and Future High-Tech
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Global Metal Injection Molding Market Size study, by Material Type (Stainless Steel, Low Alloy Steel, Soft Magnetic Material, Other) by End-Use Industry (Electrical & Electronics, Automotive, Medical & Orthodontics, Consumer Products, Industrial, Firearms &Defense, Other) and Regional Forecasts 2021-2027.
Key findings of the study suggest:
- Global Metal Injection Molding Market is anticipated to grow with a healthy growth rate of more than 7.8% over the forecast period 2021-2027.
- In the Material Type segment, Stainless Steel emerged out as the leading market segment in 2020.
- Asia Pacific is anticipated to drive regional growth owing to the Rapid urbanization, technological improvements, high GDP growth rates, and growing demands from the automobiles, consumer goods, and machining industries.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2020-2027.
Bizwit Research & Consulting has considered following segments for the study:
- Stainless Steel
- Low Alloy Steel
- Soft Magnetic Material
- Electrical & Electronics
- Medical & Orthodontics
- Consumer Products
- Firearms &Defense
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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