Need for Molded Miniature Products in Electronics, And Aerospace & Defense Industries To Drive the Global Powder Injection Molding Market
Posted on Sep 17 2019 6:39 AM
"The Powder Injection Molding market is expected to reach $3,639m by 2023, growing at a CAGR of 9%."
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- R&D continues to be the key driver for the metal powder injection molding market. The National Research Council of Canada (NRC) and AP&C, a GE Additives company, have jointly developed a way to test the quality of metal powders using X-ray micro-computed tomography (microCT) and 3D image analysis. This technology will help in production of stronger, cleaner, safer and more reliable parts for aerospace and medical devices.
- Cost and performance continue to be key drivers for the powder injection molding industry. Powder injection molding offers significant cost savings, increased precision in design, and flexibility of materials. Powder injection molding is preferred for mass manufacturing of small, intricate geometric components of a variety of materials, as it can achieve 95% to 98% of its theoretical density at a much lower cost than comparable machined components. Maetta Sciences Inc. offers low production costs and efficient prototyping with regards to small production volumes. The PIM system developed by Maetta allows for prototyping through lower pressure molding with lower cost mold systems.
- There is also a growing trend for innovating in the powder injection molding industry, in order to address challenges of variable density and impurity on the injection molding process. Research has found that titanium metal powder injection molding (Ti-MIM) with high quality alloy powder has the ability to remove impurities which can’t be achieved through sintering.
- Growth in the powder injection molding market is majorly contributed to by the electronics segment, followed by the aerospace & defence segment, with the electronics application segment growing the fastest at a CAGR of 9%. Under the Electronics segment, the mobile phone lightening connector application held the major segment share of 27% of the global powder injection molding market.
- The Asia-Pacific (APAC) region accounted for the largest market share, with a revenue of $986m in 2018. Moreover, the North American market held a regional share of 26% in the global market. In Asia Pacific, the Chinese metal injection molding market has grown rapidly at a CAGR of over 30% annually since 2011. Metal injection molding has been widely incorporated to produce electronic devices, which comprises 75% of the overall MIM products market. Sales of MIM parts in China reached $890m in 2018, majorly because of smartphones which account for 66% of the MIM market. In China, BASF is the biggest metal injection molding feedstock supplier which supplied approximately 3000-3500 tons of MIM feedstock in 2017.
- Globally, there is increasing demand for micro-MIM parts in the powder injection molding sector. Currently, micro sacrificial plastic mold insert metal injection molding is used in micro-MIM parts applications.
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