Metal Injection Molding Global Market Opportunities and Strategies to 2033

This report describes and explains the metal injection molding market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global metal injection molding market reached a value of nearly $4 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.86% since 2018. The market is expected to grow from $34 billion in 2023 to $6.3 billion in 2028 at a rate of 9.72%. The market is then expected to grow at a CAGR of 10.55% from 2028 and reach $10.4 billion in 2033.

Growth in the historic period resulted from rising consumer electronics manufacturing, increasing industrial manufacturing of metal components, increased use of recycled metal and increased healthcare expenditure. Factors that negatively affected growth in the historic period were high initial tooling and equipment costs and design complexity.

Going forward, growing semiconductor industry, increasing metal consumption by the aerospace sector, expansion within the medical equipment industry and growth in the telecommunications sector will drive the growth. Factor that could hinder the growth of the metal injection molding market in the future include stringent government regulations and fluctuation in raw material prices.

The metal injection molding market is segmented by material into stainless steel, low alloy steel, soft magnetic material and other materials. The stainless steel market was the largest segment of the metal injection molding market segmented by material, accounting for 43.4% or $4.4 billion of the total in 2023. Going forward, the stainless steel segment is expected to be the fastest growing segment in the metal injection molding market segmented by material, at a CAGR of 9.96% during 2023-2028.

The metal injection molding market is segmented by machine type into hydraulic, electric and hybrid. The hydraulic market was the largest segment of the metal injection molding market segmented by machine type, accounting for 49.6% or $4.7 billion of the total in 2023. Going forward, the electric segment is expected to be the fastest growing segment in the metal injection molding market segmented by machine type, at a CAGR of 10.80% during 2023-2028.

The metal injection molding market is segmented by end-user into automotive, industrial, electronics, medical, firearms, aerospace and defense and other end-users. The automotive market was the largest segment of the metal injection molding market segmented by end-user, accounting for 30.8% or $3.3 billion of the total in 2023. Going forward, the medical segment is expected to be the fastest growing segment in metal injection molding market segmented by end-user, at a CAGR of 11.70% during 2023-2028.

Asia-Pacific was the largest region in the metal injection molding market, accounting for 46.7% or $1.9 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the metal injection molding market will be the Middle East and Africa where growth will be at CAGRs of 15.64% and 14.68% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 11.57% and 10.54% respectively.

The global metal injection molding market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 21.98% of the total market in 2022. Epson Atmix Corporation was the largest competitor with a 9.39% share of the market, followed by Sintex a/s with 4.35%, Smith Metal Products with 3.57%, Indo-MIM with 3.41%, NetShape Technologies with 0.36%, Advanced Powder Products Inc. with 0.30%, ARC Group Worldwide with 0.21%, Parmaco Metal Injection Molding AG with 0.15%, CMG Technologies with 0.14% and MDM Metal Industrial Co.Ltd. with 0.11%.

The top opportunities in the metal injection molding market segmented by material will arise in the stainless steel segment, which will gain $1 billion of global annual sales by 2028. The top opportunities in the metal injection molding market segmented by machine type will arise in the hydraulic segment, which will gain $1.1 billion of global annual sales by 2028. The top opportunities in the metal injection molding market segmented by end-user will arise in the automotive segment, which will gain $814.21 million of global annual sales by 2028. The metal injection molding market size will gain the most in China at $592.72 million.

Market-trend-based strategies for the metal injection molding market include innovative products driving metal injection molding advancements, AI revolutionizing metal injection molding efficiency, strategic focus on magnesium injection molding machines, advancements in metal injection molding through 3D printing integration and integration of molding analysis software in metal injection molding (MIM).

Player-adopted strategies in the metal injection molding market include focus on investing in manufacturing facilities, business capabilities through new product launches and strengthening its business capabilities through partnerships.

To take advantage of the opportunities, the analyst recommends the metal injection molding companies to focus on innovation in metal injection molding, focus on ai integration for enhanced metal injection molding efficiency, focus on advancing magnesium injection molding technology, focus on integrating 3D printing for enhanced metal injection molding, focus on utilizing molding analysis software for enhanced metal injection molding, focus on the stainless steel segment, focus on the electric segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on strategic pricing for metal injection molding companies, continue to use B2B promotions, emphasize digital marketing channels for increased reach, cultivate strategic partnerships for amplified brand exposure and focus on medical and automotive segments.