Metal and Ceramic Injection Molding Market Regional Analysis:
APAC Market Statistics
Asia Pacific industry is set to hold largest revenue share of 51% by 2035. Asia has the world’s most robust automotive industry where the sales, production, and export, of automobiles, are comparatively high. Since metal and ceramic molding is heavily used in the manufacturing of automotive parts, therefore, higher production of automobiles is expected to expand the market size over the forecast period. For instance, in China alone, around 20 million passenger cars were produced in 2021 while in Sought east Asia, around 2 million automobiles were produced, additionally, in Japan, more than 6 million passenger cars were manufactured. Furthermore, the higher requirement for firearms in the defense system of the region is anticipated to hike firearm production which is expected to spike the demand for metal and ceramic injection molding in the projected timeframe. Therefore, all the factors are anticipated to influence the regional market growth positively over the forecast period.
North American Market Forecast
Additionally, the global metal and ceramic injection molding market is further expected to witness lucrative growth opportunities in the North American region. The growth of the market can be attributed majorly to the rapid technological development and increasing production and sales volume of automobiles in the region. In the United States, the inclination of the population is observed to rise toward luxury cars which are further supported by the spiking personal income and presence of the excellent highways and roads. As of 2022, over 75 percent of the U.S. population reported having access to their car, with an additional 19 percent having access to a company or family car. Moreover, the surge in firearm production owing to the significant expansion in the firearm industry in the region and change in the government initiatives to keep firearms is also anticipated to hike the market growth over the forecast period. For instance, in the United States, approximately 12 million firearms were manufactured in 2021.
