Global Metal Injection Molding Market Size, Forecast, and Trend Highlights Over 2025-2037
Metal Injection Molding Market size was over USD 4.76 billion in 2024 and is predicted to cross USD 13.26 billion by the end of 2037, witnessing more than 8.2% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of metal injection molding is estimated at USD 5.4 billion.
Metal injection molding (MIM or metal-IM) integrates metal powder fusion with plastic injection molding. This technique can process many metals, including cobalt alloys, stainless steel, steel alloys, iron-nickel alloys, tungsten alloys, and ceramics. Application-specific or customized alloys are prepared using MIM—for instance, cobalt and nickel concentrations in carbon steel formulas are typically altered based on high-temperature automotive use cases. In terms of occupational outlook, the metal and plastic machine sector employed about 1,029,800 individuals in 2023 in the U.S. at an USD 44,880 annual median pay.
The market landscape is shaped by continuous innovations in raw materials for MIM. Taking a rheological approach, the NIH 2023 study suggests suspension-based feedstock for metal-IM. This fluid has metal particles and a binding system consisting of various waxes, polymers, and other additives for metal powder processing. The research project used a superalloy Inconel-718 binder, along with a combination of bio-polymers, such as polyhydroxyalkanoates (PHA), Poly(3-hydroxybutyrate-co-3-hydroxyvalerate) (PHBV), and polyethylene glycol (PEG). The results have successfully positioned PHBV as a possible alternative for polypropylene, upholding rheological properties and high metallic powder volume fraction.
In August 2023, NIH published a report on developing aluminum (Al)-filled epoxy resins and steel molds using rapid tooling technology (RTT). The manufacturing cost reduction of an injection mold made from aluminum-filled epoxy resin is 30.4% of that of a fabricated conventional mold steel. The cut-down in manufacturing time of RTT injection mold is 30.3% of that of regular and fabricated machining methods. The study also identified that Al-filled epoxy resin MIM has higher longevity, roughly 1300 molding cycles, and the mold service life is 1.3% of traditional mold steel. Similar developments in material innovation are fostering the overall market expansion.
Production Cost of the Molds Fabricated by Traditional Method & RT Technology
Source: NCBI
Metal Injection Molding Sector: Growth Drivers and Challenges
Growth Drivers
- Rise in firearm trade, a key end user of MIM: The market has widespread use cases in industries like medical, automotive, aerospace, and firearms. High trade potential in military weapons is propelling the MIM market growth. According to the Observatory of Economic Complexity (OEC), the world trade of military firearms held a trade value of USD 1.82 billion in 2023. The export CAGR between 2022 and 2023 was 5.32%, with the U.S. (USD 538 million) being the top supplier and Ukraine (USD 476 million) the top importer in 2023. The category’s trade value has surged at a rate of 10% over the past decade.
Exports and Imports of Military Weapons, 2023
|
Key Exporters |
Export Value |
Key Importers |
Import Value |
|
The U.S. |
$538M |
Ukraine |
$476M |
|
Poland |
$372M |
Poland |
$372M |
|
South Korea |
$213M |
Indonesia |
$93.2M |
Source: OEC
- Innovations in polymer binders: In metal injection molding, the feedstock comprises polymer binders and powder metal. The University of Auckland, the University of Waikato, and the Kunming University of Science and Technology collaborated in June 2024 to formulate and deploy an eco-friendly and low-decomposition temperature binder system for Titanium (Ti) metal injection molding. Titanium and its alloys have unique material attributes, such as biocompatibility, high specific strength, and corrosion resistance. This makes it optimal for aerospace, chemical plants, and biomedical applications. Presently, titanium accounts for roughly 5% of the MIM market.
The binder system constitutes polypropylene (PP) as the backbone polymer (15 wt%), polyoxymethylene (POM) (77 wt%) as the key component, stearic acid (SA) (5 wt%) as a surfactant, and poly (EMA-GMA) (ethylene-co-methyl acrylate-co-glycidyl methacrylate) (3 wt%) as a compatibilizer. Catalytic decomposition-based POM binder system is a promising candidate for Ti-MIM. Similarly, in August 2024, the Oak Ridge National Laboratory
Challenges
- Fluctuations in raw materials: The increasing concern amongst individuals for the side effects associated with the consumption of IBS drugs is one of the major factors predicted to slow down market growth. For instance, pancreatitis, a serious and more common pancreatic inflammation, can arise from the dual mu-opioid nicotinic receptor eluxadoline, which is employed to address digestive problems with incontinence in some people.
Metal Injection Molding Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.2% |
|
Base Year Market Size (2024) |
USD 4.76 billion |
|
Forecast Year Market Size (2037) |
USD 13.26 billion |
|
Regional Scope |
|
Metal Injection Molding Segmentation
Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Material)
The stainless steel segment is estimated to gain the largest metal injection molding market share of about 38% in the year 2037. The segment growth is attributed to the increasing and widespread application of stainless steel in a variety of end-use industries. Metal injection molding with a material of stainless steel combining high strength, hardness, and wear resistance in moderate corrosion has been launched by companies. Additionally, stainless steel melt shop annual production surged by 7% in 2024 and reached 62.6 million metric tons globally.
Stainless Steel Melt Shop Steel Production, Million Metric Tons
|
Region/ Country |
Quarter |
|
|
|
12 Months |
|
% Change |
|
|
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
|
|
|
|
Europe |
1,563 |
1,625 |
1,506 |
1,394 |
5,997 |
6,088 |
1.5% |
|
The U.S. |
509 |
518 |
482 |
441 |
1,824 |
1,950 |
6.9% |
|
China |
8,655 |
10,152 |
9,898 |
10,736 |
36,676 |
39,441 |
7.5% |
|
APAC* |
1,842 |
1,776 |
1,776 |
1,928 |
6,880 |
7,322 |
6.4% |
|
Others** |
2,076 |
1,761 |
2,029 |
1,954 |
7,163 |
7,820 |
9.2% |
|
Total |
14,644 |
15,833 |
15,690 |
16,453 |
58,539 |
62,621 |
7.0% |
*: APAC w/o South Korea & China
**: Brazil, Indonesia, Russia, South Africa, South Korea
Source: worldstainless
End user (Electrical & Electronics, Automotive, Consumer, Industrial)
The automotive segment in metal injection molding market is expected to garner a significant share in the year 2037. The demand for injection molded metal parts has also increased in the automobile sector. Engines, transmission gears, turbochargers, lock mechanisms, steering systems, and electronic systems are equipped with high-strength and heavy-complexity parts. For example, metal injection molded rocker arms are produced by Schunk GmbH in Germany. These are BMW engines using these weapons. A hollow configuration, reducing the weight, which is difficult to achieve by other processes, was used. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global metal injection molding market includes the following segments:
|
Material |
|
|
End user |
|
Vishnu Nair
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Metal Injection Molding Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is predicted to hold the largest revenue share of 38% by 2037, owing to growing interest in miniaturizing consumer electronics and an expanding automotive industry. In this region, as a consequence of the fact that major players from the Asia Pacific have set up their manufacturing facilities there, labor costs are lower than elsewhere. For instance, BASF has set up a new manufacturing facility at the Kuanyin site in Taiwan with the purpose of producing Catamolds. Furthermore, a new Technical Service Laboratory has been set up at the BASF MIM feedstocks business in Shanghai, China. In Pudong, a new Technical Service Laboratory for Catamold is established at the BASF Innovation Campus in Asia Pacific to provide technical support and customer training.
The China metal injection molding market is propelled by the booming automobile end use industry. In the first nine months of 2024, auto production was 21.47 million units, registering a 1.9% CAGR, and average monthly sales were 2.8 million units. As per Council on Foreign Relations data, China is likely to deploy 25 million EV units by the end of 2025. In 2023, China was among the top three exporters of cars and held a value of USD 74.5 billion in trade. SCIO PRC states that China supplied 504,000 automobiles in April 2024 alone, upholding a CAGR of 34%. However, the 34% U.S tariffs on imports from China imposed in April 2025 are anticipated to reshape China’s position in the global market.
North America Market Forecast
The North America metal injection molding market is estimated to be the second largest, registering a share of about 25% by the end of 2037. The growth is ascribed majorly to the increasing collaboration, joint ventures, and strategies by market players, which will benefit organizations in terms of improving their product offering. Canada MIM market is driven by the high demand from automotive manufacturers. The majority of the global players have their assembly lines set up in Canada. This includes Ford, Stellantis, General Motors, Toyota, and Honda, among others. The automotive aftermarket's yearly retail worth was estimated at USD 16 billion, which remained stable through 2022.
The U.S. metal injection molding market is shaped by the ample production and availability of raw materials, including chromium. In 2021, the chromite ore annual average gross weight (import unit value) spiked by a CAGR of 10%. U.S. chromium usage (produced and recycled) was 614,000 tons on a chromium-content basis. Chromium-containing material imports to and exports from and country constituted chromite ore, ferroalloys, chromium chemicals, metal, stainless steel, and pigments. Based on U.S. Department of Commerce data on foreign trade of chromium, excluding steel mill products, were USD 24.1 million in exports in 2021 (a 27% growth from the previous year) and USD 898 million in imports (a 65% spike from 2020).
Companies Dominating the Metal Injection Molding Landscape
- Dynacast
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Cobra Golf
- Britt Manufacturing
- Dean Group International Ltd.
- Cypress Industries
- Sintex
- CMG Technologies
- Indo-MIM Pvt. Ltd.,
- Real Technik AG
- ATW Companies
The market players are proliferating their global presence by strengthening their collaborative initiatives, such as geographical expansion, new launches, and mergers and acquisitions. Here are some of the MIM industry players:
Recent Developments
In October 2024, Biomerics, LLC, revealed the launch of vertically integrated metal injection molding services. Through this move, the company is enhancing its commitment to contract design and manufacturing in the metals space.
- Report ID: 4916
- Published Date: May 02, 2025
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