Metal and Ceramic Injection Molding Market Trends

Growth Drivers

• Growing Manufacturing of Automobiles Across the Globe – as of 2021, nearly 65 million units of automobiles were sold out worldwide. In 2021-22, around 3 million passenger vehicles, 0.7 million commercial vehicles, 0.2 million three-wheelers, and nearly 10 million two-wheelers were sold out across the globe.
  
  The injection molding method is used significantly and widely in the automotive sector in the production process to make mold cavities by injecting molten plastic materials this process is known as screw precession. There are several stages of injection molding such as injection, clamping, colling, dwelling, mold opening, and others. The automotive sector is growing rapidly across the world. Hence, this is anticipated to be an important factor to drive market growth during the forecast period.

• Increasing Expansion Rate of Construction Industry – According to estimates, by the end of 2025, the construction industry in India is expected to reach a total value of USD 1.3 trillion. The injection molding used in construction has various advantages such as specific size, competitive costing, enhanced insulation, excellent finish, sustainable solutions, and others.

• Rising Government Support to Expand the Chemical Industry – Within the Union Budget 2022-23, the Indian government allocated approximately USD 27 million to the Department of Chemicals and Petrochemicals. Moreover, the global chemical industry garnered revenue of nearly USD 4 trillion around the world in the year 2021.

• Growing Demand for Electric and Non-Electric Vehicles – In hybrid and electronic vehicles, injection molding is increasingly used. It was observed that nearly 13,34,000 electric vehicles are in use in India, compared to approximately 27,80,50,000 non-electric vehicles.

• Higher Demand in Firearm Industry – it was estimated that around 9 million guns are manufactured across the globe every year in the United States while another estimate showed that the U.S. firearm industry is a major part of the national economy contributing around USD 50 billion.

Challenges

• Higher Machine Tooling Cost - Since the raw material used in the metal and ceramic injection molding is high, it also spikes the overall cost of molded products. Furthermore, three-dimensional product manufacturing is restricted which is also estimated to hamper the market growth during the forecast period.
• Design Restrictions
• Lack of Availability of Expert Professionals