Metal Injection Molding Market Size

Metal Injection Molding Market size was valued at USD 4.4 Billion in 2023 and is expected to reach USD 11.8 Billion by the end of 2036, registering around 8.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of metal injection molding is assessed at USD 5 Billion. The growth of the market can be attributed to the increasing demand from various end-user industries. Further, technical advancements in the field are also estimated to contribute to the growth of the market in the forecast period. For instance, In 2021, metal powder products announced that it had completed the acquisition of Proform Powdered Metals, based in the U.S. It is a leading provider of high-quality sintered bronze bearings and spacers.

In addition to these, factors that are believed to fuel the metal injection molding market growth of metal injection molding include the rise in demand from the automobile sector. Injection molding service providers are offered opportunities in the automotive industry as a result of the introduction of electric vehicles around the world. The components used for brakes, clutch systems, and driving trains are parts made using injection molding which includes gears, seals, and magnets. In addition, during the forecast period, it is expected that demand for replacing metal components with plastic parts in cars will increase. It is estimated that the EV industry is worth more than $250 billion and this is predicted to grow in the forecast period.