(Metal Injection Molding) MIM Parts Market is projected to surpass USD 5 billion by 2025. Growing demand from electronics industry is fueling the market growth.

Some major findings of the MIM parts market report include:
- Stainless steel will have largest share over the forecast period

- China is anticipated to gain significant growth rate in the projected time frame primarily supported by its expanding electronics industry.

- Introduction of titanium metal injection molding in the industry can fuel demand for the MIM parts.in the coming years.

- Strengthening defense industry in various countries can result in an increased demand for MIM parts in firearms production.

- Rising automotive sales in emerging economies such as India, China and Japan are anticipated to fuel market growth.

Growing aerospace industry across the globe will fuel the MIM parts business growth over the forecast period. Recovery in GDP growth, stabilization of crude oil prices and growth in passenger travel in Asia Pacific, the Middle East and Latin America is likely to drive the commercial aircraft sectors growth in coming years. In aerospace industry, metal injection molding technique used to manufacture various components such as compressor blades, bushings, rotors, fasteners, brackets, inlets, etc. Moreover, recovery in U.S. defense budget as well as increased defense spending from other countries such as China, Japan, India and Saudi Arabia are expected positively impact the defense aircraft demand during the forecast timespan.

Decreasing cost of technology and sustained development of new technologies are expected to boost the consumer electronics industry in next few years. MIM in consumer electronics industry used in fiber optic parts, smartphone parts, lightning devise, etc. Electronics was the largest end-user industry in 2018 with a market share over 33% and projected to grow with a CAGR over 13% during the forecast timespan.

Stainless steel was the most used material for metal injection molding, and it accounted for over 60% market share in 2018. It is anticipated to retain its leadership position by the end of the forecast period. High usage of stainless-steel can be attributed to its properties such as corrosion resistance, high strength and density, which makes it suitable for metal injection molding process. It is extensively used in the end-use industries such as automotive, firearms and consumer goods, which are expected to exhibit a healthy growth rate during the forecast timeframe.

Consumer goods industry is expected to experience healthy growth in near future. Penetration of new feature-laden products in the market, strengthening distribution channels and increasing purchasing power of the people in emerging economies are poised to drive the consumer good industry growth during the forecast timeframe. Increasing consumer preference for eye catching and sophisticated products will augment the MIM parts demand in consumer industry in coming years.

New product development is the strategy adopted by key industry players to enhance their market share. For instance, AMT and CMG Technologies have introduced 3D printed MIM parts Prominent industry participants in the MIM parts market are Smith Metals, Advanced Material Technologies, CMG Technologies, Form Technologies Company, CN Innovations Holdings Ltd, ARC Group, Akron Porcelain & Plastics Co., Kinetics Climax Inc, PSM Industries, Nippon Piston Ring Co. Ltd. and Hoganas AB.