Published Date : 25 Nov 2022
The global metal and ceramic injection molding market size was estimated at USD 3.26 billion in 2022 and is expected to surpass around USD 6.06 billion by 2030, poised to grow at a CAGR of 8.1% from 2022 to 2030.
The growing demand for various components and products across various industries such as healthcare, consumer goods, automotive, and aerospace industries is significantly boosting the growth of the metal and ceramic injection molding market. The demand for complex, flexible, and high-strength components in the manufacturing industry is expected to augment the demand for metal and ceramic injection molding technology. The surging adoption of minimally invasive cosmetic surgery is expected to drive market growth in the forthcoming years. Moreover, the growing investments in the urbanization and industrialization of developing regions is propelling the growth of the global metal and ceramic injection molding market. Metal and ceramic injection molding offer low operational costs and flexibility in designing, which is a major factor that offers a major advantage to manufacturers in the electronics and automotive industry.
Metal and Ceramic Injection Molding Market Report Scope
|Market Size In 2022||USD 3.26 Billion|
|Market Size By 2030||USD 6.06 Billion|
|Growth Rate from 2022 to 2030||CAGR of 8.1%|
|Forecast Period||2022 to 2030|
Asia Pacific was the dominant market in 2020. This is attributed to the surging investments in the industrialization of the region. The favorable government policies is attracting huge investments in the region and the major companies are expanding their manufacturing facilities in the region. The countries like China, Taiwan, South Korea, and Japan are the top manufacturers of electronic devices. The huge manufacturing of different electronic devices in the region has significantly boosted the growth of the metal and injection molding market. This region is the manufacturing hub of the globe owing to the easy and cheap availability of raw materials and labor. Thus the rapid industrialization in the Asia Pacific in the past few years has resulted in the growth of the market.
North America is expected to grow at a significant rate. The presence of top automotive manufacturers and the aerospace industry in the US has significantly driven the growth of the North America metal and ceramic injection molding market. The huge demand for electric vehicles in the region is expected to have significant growth in the market. Moreover, the surging investments in research and development is expected to augment the demand for metal and ceramic injection molding technology in the forthcoming future.
Driver: Surging production of electric vehicles
The automotive industry is the leading user of metal and ceramic injection molding technology. The surging investments in the production of electric and hybrid vehicles to develop a sustainable mobility solution is driving the market growth. Moreover, the government in various countries are providing subsidies to customers to encourage the adoption of EVs. Therefore, the growing demand for electric vehicles across the globe is expected to drive the growth of the global metal and ceramic injection molding market during the forecast period.
Restraint: Availability of substitutes
There are several superior substitutes available that are eco-friendly in nature. The rising trend of achieving sustainability in the corporate and the government sector may decrease the demand for metal and ceramic molding technology and the manufacturers may adopt the substitutes.
Opportunity: Key strategic developments by the market players
The key market players are constantly engaged in various developmental activities like product launches, partnerships, and acquisitions to strengthen their position and expand their market share. For instance, in 2018, Hoganas completed the acquisition of H.C. Starck Technology Surface and Ceramic Powder and Metasphere Technology. This acquisition aimed at strengthening the market position of Sweden-based Hoganas.
Challenge: The high price of raw materials
The price of the raw materials is high. The molding technology uses materials like stainless steel, alumina, and iron. The prices of these raw materials are high and are constantly fluctuating. Therefore, price fluctuations and high costs in the procurement of raw materials is a major challenge for the market players.
Key Players in the Report:
Segments Covered in the Report
By End User
By Distribution Channel
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