The Insight Partners recent market research updated on “Metal Injection Molding Market Analysis to 2028” which helps you to improve your business campaign. Our report covers the critical market information considering the rapid progression & wide-ranging impacts of COVID-19 virus on the global economy, and helps you understand which countries or business segments are likely to get most affected.
According to our latest market study on “Global Metal Injection Molding Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Material, and Others) and Industry Vertical (Automotive, Electrical and Electronics, Consumer Goods, Firearms and Defense, Medical and Orthodontics, and Others),” the market was valued at US$ 2,458.68 million in 2019 and is projected to reach US$ 4,338.52 million by 2027; it is expected to grow at a CAGR of 7.5% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
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What is Metal Injection Molding?
Metal injection molding is a flexible, cost effective, 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 to perform as per requirement. Metal injection molding focusses on quality and precision, as well as the process 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 such as resistance to wear & corrosion, thermal stability, high mechanical strength, and dimensional stability.
IMPACT OF COVID-19 ON Metal Injection Molding Market
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of December 2020, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemical and materials is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it is also one of the worst affected countries.
The lockdown of various plants and factories in China is disrupting the global supply chains and hindering manufacturing activities, delivery schedules, and various materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America is hampering the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related to the chemicals and materials industry.
Our expert team is consistently working on updated data and information of key player’s related business processes which values the market. For future strategies and predictions, we provide special section regarding covid-19 situation.
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Metal Injection Molding Market, by Material
Metal Injection Molding Market, by Industry Vertical
Metal Injection Molding Market by Geography
The Prominent/Emerging Players in the Metal Injection Molding Market Research includes:
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