The Europe metal injection molding market was valued at US$ 409.60 Million in 2019 and is projected to reach US$ 708.72 Million by 2027; it is expected to grow at a CAGR of 7.2% from 2020 – 2027.
Metal injection molding is a flexible, cost effective process and innovative process that provides versatility to the product designers and production engineers while using metal alloys. Metal act as a good substitute for plastic and ceramics components that are incapable of performing as per the requirement. The metal injection molding focusses on quality, precision and is a process which is closely monitored to meet the requirements. When a metal alloy is chosen for a specific application, the geometry of the component gets limited by the cost of shaping operations. The metal injection molding helps in overcoming this issue with the formation of the net shape parts in the tool. The metal injection molding offer benefits like resistance to wear & corrosion, thermal stability, high mechanical strength, and dimensional stability.
The metal injection molding market is segmented on the basis of material into stainless steel, low alloy steel, soft magnetic material, and others. The stainless steel segment holds the largest share of the market. Metal injection molding makes use of metal powders like stainless steel. Stainless steel has good stiffness, wear, and corrosion resistance properties. Stainless steel is widely used injection molding materials. The stainless steel components that are employed in metal injection molding possess high wear & corrosion stability. The metal injection molding (MIM) process enhancing the strength, achieves high densities, corrosion resistance, and flexibility of stainless steels. These materials are produced from elementally blended or pre-alloyed stainless steels, including ferritic, austenitic, and precipitation hardening grades. The utilization of metal injection molding for stainless-steel has been steadily increasing in the automotive and medical instruments sector. The initial use and overall success of the metal-injection-molded orthodontic brackets demonstrated the corrosion resistance and biocompatibility of injection-molded stainless steel applications.
Europe metal injection molding market is segmented based on country as – Germany, France, Italy, U.K, Russia, and Rest of Europe. Germany contributed to the largest share in the Europe metal injection molding market. The automotive sector in Germany is one of the significant consumers of metal injection molded parts. High strength, high complexity parts are employed in engines, turbochargers, gearboxes, steering systems, locking mechanisms, electronic systems, etc. Germany has developed the automotive industry and is one of the largest manufacturers of lightweight vehicles. The lightweight vehicle market is witnessing tremendous development in the country. The demand for vehicles ‘Made in Germany’ is growing consistently. Germany is one of the major automotive markets in Europe, which helps in the country's market progression.
Arc Group Worldwide, CMG Technologies, Dean Group International Molex, LLC, Indo-MIM, MPP, Sintex A/S, and Form Technologies are among the major players in the Europe metal injection molding market.
The overall Europe metal injection molding market size has been derived in accordance to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the metal injection molding market.