Metal Injection Molding Global Market Report 2024

The metal injection molding market has grown rapidly in recent years. It will grow from $3.97 billion in 2023 to $4.39 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth observed in the historical period can be attributed to advancements in powder metallurgy, increased demand from the automotive industry, requirements in the energy sector, the growth of additive manufacturing, and manufacturing activities in the consumer goods sector.

The metal injection molding market is expected to see strong growth in the next few years. It will grow to $6.32 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The anticipated growth in the forecast period can be attributed to advancements in alloy development, increased focus on sustainable practices, investments in research and development, a rising demand for lightweight materials, and ongoing global infrastructure development. Major trends expected in this forecast period include the increased adoption of additive manufacturing, the application of powder metallurgy techniques, the expansion of the range of metal powder alloys, the utilization of metal injection molding, and the integration of digitalization and Industry 4.0 technologies.

The anticipated surge in demand from the automotive industry is poised to drive the growth of the metal injection molding market in the foreseeable future. The automotive industry encompasses businesses engaged in the production, distribution, retail, and maintenance of automobiles. Metal injection molded parts have become integral to the automotive sector, finding applications in engines, gearboxes, turbochargers, locking mechanisms, steering systems, and electrical systems. These parts are preferred for their ability to produce high-strength, intricate components. For example, a report by the European Automobile Manufacturers' Association (ACEA) in March 2022 highlighted a 5.5% increase in the sales of passenger cars in the US, reaching 11.9 million units in 2021. Furthermore, US auto facilities produced over 6.3 million passenger cars in 2021, reflecting a 3.1% increase from 2020. Hence, the growing demand from the automotive industry is a significant driver for the metal injection molding market.

The escalating demand for aircraft is anticipated to propel the growth of the metal injection molding market. Aircraft, designed for air travel and equipped with wings and one or more engines, benefit from metal injection molding in the manufacturing process. This technology is employed to produce intricate and precise metal components, contributing to increased efficiency and reduced weight. For instance, in January 2023, AIRBUS, a Netherlands-based aircraft company, reported delivering 661 commercial aircraft to 84 customers in 2022, marking an 8% increase compared to 2021. This growth in aircraft demand is a driving force behind the metal injection molding market.

Key trends in the metal injection molding market include product innovations adopted by major industry players to maintain their competitive positions. For instance, The ExOne Company, a US-based provider of 3D printing machines, introduced X1 Tooling in September 2021, offering an extensive portfolio of industrial-grade 3D-printed tooling solutions. This innovative approach addresses supply chain challenges and provides producers with quick, cost-effective, and local tooling solutions, including metal production applications such as X1 SandCast, X1 MetalTool, and X1 DieMold.

Companies in the metal injection molding market are also focusing on the development of metal jet printers utilizing powders, such as metal injection molding (MIM) powders, to gain a competitive edge. Metal injection molding powders are finely powdered metal materials tailored for use in the metal injection molding process. In September 2022, HP, a US-based information technology company, introduced the S100 Metal Jet 3D printer, enabling faster production times with a 1200 dpi resolution. This printer utilizes Metal Injection Molding (MIM) powders, such as stainless steel and Inconel, allowing users to move from raw material to near-net-shape products in a single step.

In January 2022, Nichols Portland, a US-based designer and manufacturer of powder metallurgy components, acquired Alpha Precision Group for an undisclosed amount. This strategic move aligns with Nichols Portland's commitment to offering tailored solutions to its clients, enhancing its capabilities to meet evolving customer needs promptly. Alpha Precision Group, a US-based metal-forming technology company, specializes in conventional powder metallurgy and metal injection molding, serving a global customer base.

Major companies operating in the metal injection molding market report are Molex LLC, Indo-Mim Private Limited, CMG Technologies Ltd., GKN Ltd., Smith Metal Products, ASH Industries Inc., Rockleigh Industries Inc., Schunk Sintermetalltechnik GmbH, Sandvik AB, Tekna Manufacturing Private Limited, PSM Industries Inc., Advanced Powder Products Inc., Alpha Precision Group, Epson Atmix Corporation, Hitachi Metals Ltd., 3A Composites, Shanghai FUTURE HIGH-TECH Co. Ltd., Advanced Forming Technology, Ametek Specialty Metal Products, Parmatech Corporation, WTM SOLUTIONS, MOKO Technology, Kinetics Climax Inc., Phillips-Medisize LLC, FloMet LLC, Advanced Technology & Materials Co. Ltd., Nbtm New Materials Group, Jiangsu Gian Technology Co. Ltd., Shenzhen Zhucheng Science & Technology Co. Ltd., MDM Metal Industrial Co.Ltd.

Asia-Pacific was the largest region in the metal injection molding market in 2023. The regions covered in the metal injection molding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal injection molding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of materials used in metal injection molding include stainless steel, low-alloy steel, soft magnetic materials, and others. Stainless steel, an iron alloy resistant to corrosion and rust, is frequently employed in metal injection molding (MIM) due to its high strength, corrosion resistance, and aesthetic appeal. The process utilizes various machines, including hydraulic, electric, and hybrid types, catering to end-users in industries such as electrical and electronics, automotive, consumer goods, industrial applications, and others.

The metal injection molding market research report provides metal injection molding market statistics, including metal injection molding industry global market size, regional shares, competitors with a metal injection molding market share, detailed metal injection molding market segments, market trends and opportunities, and any further data you may need to thrive in the metal injection molding industry. This metal injection molding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The metal injection molding market includes revenues earned by entities by providing mixing, de-binding, sintering, injection molding, and part finishing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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