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The powder injection molding market share is expected to increase by USD 1.27 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.53%.
This powder injection molding market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers powder injection molding market segmentation by end-user (consumer products, medical and orthodontic, automotive, and aerospace and defense) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The powder injection molding market report also offers information on several market vendors, including AMT Pte. Ltd., ARBURG GmbH Co KG, ARC Group Worldwide Inc., ASH Industries, ATW Companies, Chung Nam Group of Companies, CMG Technologies Ltd., Epson Atmix Corp., Form Technologies, GKN Sinter Metals Engineering GmbH, Indo US MIM Tec Pvt. Ltd., Koch Industries Inc., Metal Powder Products Inc., Plastic Product Co. Inc., PSM Industries Inc., RHP Technology GmbH, Sintex AS, The Dynamic Group, The Federal Group USA, and Vibrom spol. s r.o. among others.
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The technological innovations in injection molding robots is notably driving the powder injection molding market growth, although factors such as high tooling cost may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the powder injection molding industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Powder Injection Molding Market Driver
One of the key factors driving the global powder injection molding market growth is the technological innovations in injection molding robots. For better control, vendors provide a touchscreen with easy operability due to its icon-driven instructions and on-screen prompts. For instance, Yushin precision equipment, one of the prominent market vendors, has started offering robots with vibration dampening technology for high precision and low molding time. In addition, grippers are also being used in cobots. For instance, SCHUNK, a manufacturer of gripping systems, has developed Co-act, a collaborative actuator that comes with technology, which limits the force and prevents potential hazards when working closely with workers. Such factors are expected to positively impact the market growth in the coming years.
Key Powder Injection Molding Market Trend
Another key factor driving the global powder injection molding market growth is the increased use of cobots in the injection molding process. Cobots aid the manufacturing process and complement manual labor in the production process. With the increasing stringency on safety standards in industries, vendors focus on improving the safety features of cobots by improving sensor technologies. Cobots help manufacturers by providing them with the skill of workers and the productivity of robots. Workers use analytical skills and experience, and robots provide high speed and accuracy to perform risky tasks. For instance, Wisconsin Plastics, a manufacturer of plastics products that focuses on injection molding and assembly, adopted the UR5 cobot in its production line. Thus, the adoption of cobots for repetitive processes, such as loading or unloading injection molding machines, which have been conventionally performed by humans, will increase during the forecast period.
Key Powder Injection Molding Market Challenge
One of the key challenges to the global powder injection molding market growth is the high tooling cost. Injection molding tools are quite expensive. If injection molding manufacturers plan to produce 1,000 parts per year for a stipulated period, a typical 1-16 impression mold would cost USD 3,338 to USD 22,252. The time required for manufacturing is 5 to 12 weeks. Options do exist for low-cost, short-run injection molding tooling. These tooling manufacturing methods involve the use of a steel block and a predesigned tooling template. These methods can also be adopted for softer metals such as aluminum, mild steel, and nickel, unlike hardened tool steel or beryllium-copper alloy. However, this technique is not generally advised for part production as the tooling is highly susceptible to damage. Such factors are expected to hamper the growth of the market during the forecast period.
This powder injection molding market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global powder injection molding market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the powder injection molding market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the powder injection molding market encompasses successful business strategies deployed by the key vendors. The powder injection molding market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The powder injection molding market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the powder injection molding market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for powder injection molding in APAC. Market growth in this region will be faster than the growth of the market in regions.
The significant increase in the demand for PIM in countries such as India, Thailand, Vietnam, Singapore, and Malaysia will facilitate the powder injection molding market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, due to the COVID-19 pandemic, manufacturing activities in the automotive, consumer goods, and other industries in most countries in the region witnessed lucrative growth. An increase in COVID-19 cases positively impacted manufacturing activities, as most countries in APAC enforced a lockdown in H1 2020. Hence, the demand for PIM machines in the region is expected to witness slow growth during the first half of the forecast period and will gradually regain momentum once business processes regain normalcy.
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The powder injection molding market share growth by the consumer products segment will be significant during the forecast period. With technological developments, the miniaturization of electronic devices is a common trend these days, which is expected to propel the demand for even smaller parts, that are reliable in terms of performance and are low in cost, during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the powder injection molding market size and actionable market insights on post COVID-19 impact on each segment.
Powder Injection Molding Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.53% |
Market growth 2022-2026 |
$ 1.27 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.93 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AMT Pte. Ltd., ARBURG GmbH Co KG, ARC Group Worldwide Inc., ASH Industries, ATW Companies, Chung Nam Group of Companies, CMG Technologies Ltd., Epson Atmix Corp., Form Technologies, GKN Sinter Metals Engineering GmbH, Indo US MIM Tec Pvt. Ltd., Koch Industries Inc., Metal Powder Products Inc., Plastic Product Co. Inc., PSM Industries Inc., RHP Technology GmbH, Sintex AS, The Dynamic Group, The Federal Group USA, and Vibrom spol. s r.o. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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