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Powder Injection Molding Market is tremendously growing and is estimated to reach USD 3.2 billion by 2021

Powder Injection Molding Market is tremendously growing and is estimated to reach USD 3.2 billion by 2021

Usage of Powder Injection Molding (PIM) in automotive industry is increasing due to their lower prices and the Powder Injection Molding market is anticipated to reach $3.2 billion by 2021.

According to the market report “Powder Injection Molding (PIM) Market: By Technology (Metal Injection Molding, Ceramic Injection Molding); By Materials (Steel, Stainless Steels, Soft Magnetic, Titanium/Tungsten Alloys, Ceramics and Others); By Application (Automotive, Electronics, Industrial, Medical, Consumer, Aerospace and Others) & Geography -Forecast (2017-2021)published by IndustryARC, estimates the market to reach $3.2 billion by 2021.

Browse 15 Market Tables, 159 Figures spread through 156 slides and an in-depth TOC on “Global Powder Injection Molding Market (2017 – 2021)” – http://industryarc.com/Report/15989/powder-injection-molding-market.html

Injection molding is normally used in order to produce thermoplastic polymers. This process generally comprise of heating thermo plastic materials until it melts and then injecting into the steel mould, where it cools down to solidify and take its final shape. Powder injection molding (PIM) is a variant of injection molding that produces complex components to desired shape in a variety of materials. In PIM, polymeric binders are pre-mixed with metal or ceramic powders. The mixture is heated in a screw-fed barrel and forced under pressure into a die cavity, where it cools and is subsequently ejected. The polymer is then removed and the component sintered to the required density. PIM mix contains 35-50% volume of polymer. This polymer must be removed without causing any swelling to the component, which cannot be removed during sintering process.

Based on raw materials used in the PIM, market is classified as Ceramic Injection Molding (CIM) and Metal Injection Molding. Ceramics powders and metal powders are the basic raw materials for PIM.CIM uses ceramic powders such as alumina, zirconia, Titania and many more. The process consist of mainly four steps: feedstock preparation, injection molding, de-binding process and sintering. The key segmentations for PIM market includes by technology, materials, application and by geography.

Escalating automotive industry coupled with rapidly expanding market of electronics in the emerging countries is anticipated to propel the demand for PIM

The global PIM market is estimated to grow with a CAGR of 7.8% during the forecast period and will reach $3.2 billion by 2021. Growing demand for standard manufacturing of medical equipment propels the demand for powder injection molding is likely to contribute towards growth of this market. According to technology, the global PIM market has been categorized into metal injection molding (MIM) and ceramic injection molding (CIM). MIM have generated the highest revenue in 2016and this segment is projected to remain dominant in the PIM market for the next five years. Escalating demand for automobiles is propelling the growth of PIM industry. Numerous parts manufactured from this process is preferred in automobile industry over conventional molding techniques.

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The market has been segmented into Americas, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, APAC is the prominent region for PIM market and is estimated to grow with CAGR of 8.05% during the forecast period. The growth in China is attributed to the increasing automotive and industrial activities along with the presence of huge number of electronic devices producers across the globe. However, considerable PIM demand in European along with American countries is likely to boost the overall market.

The Prominent Players in this Market Include

  • Advanced Materials Technologies Pte. Ltd.

  • ARBURG GmbH

  • Phillips-Medisize Corp.

  • Dynacast International, Inc.

These companies through its broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their hold over the market. ARBURG GmbH, Phillips-Medisize Corp., Dynacast International, Inc.,Epson and ARC group are some of the leading players in powder injection molding market contributing to maximum share of overall revenue. The companies being pioneer in manufacturing powder injection molding for all major segments like automobile and electronics has remained as the dominant player with constant product launches and developments. With various product launches, mergers, acquisitions, collaborations and other strategies, these companies are obtaining market shares in the industry.

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