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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.
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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