PIM: Key market research findings
- APAC dominates the market geographically
- Medical and orthodontic segment accounts for a majority of the market’s revenue
- Key vendors – ARBURG, Dynacast, Indo-US MIM, Philips-Medisize, and Zoltrix
Technavio’s market research analysts predict the global market for PIM to grow at a CAGR of around 11% between 2016 and 2020. The growth of the market can be accredited to the growing use of leading-edge process control and monitoring systems for injection molding. Vendors in the injection molding sector focus greatly on the development of an effective control system for monitoring and controlling the entire procedure to ensure better efficiency and quality finish. For instance, the ComoNeo system by Kistler Gruppe is used in the analysis of cavity pressure to optimize the overall process by monitoring as well as documenting the analysis of the entire injection molding activities. During 2015, the global powder injection molding (PIM) market was dominated by APAC with a market share of around 39%. The growing demand for consumer electronics, which is driven by technological advances, price deflations, and growing per capita incomes is expected to further fuel growth in the PIM market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the PIM segments based on the end-user.
“PIM is being used for the production of carbon nanotube-reinforced, iron-based MMCs. A metal matrix composite (MMC) is typically a composite material with minimum two constituent parts, with one of them being a metal and the other being a different metal or material, such as an organic or ceramic compound. MMCs that use carbon nanotubes for reinforcement have been in focus for a few years now as they can produce lightweight components with high strength and rigidity,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
By 2020, the medical and orthodontic segment will continue its dominion over the global market for PIM with a market share of over 24%. The creation of orthodontic brackets is a key application of PIM technology. These brackets are extremely small and precise parts that are made out of 316L stainless steel. Currently, ceramic injection molding is slowly replacing the metal injection molding (MIM) technology to develop translucent brackets that offer a better, discreet, and aesthetic appearance. Significant developments have been made towards the incorporation of MIM technology to produce implantable components that are used in drug delivery devices and joint replacement applications.
The key vendors in the global PIM market include ARBURG, Dynacast, Indo-US MIM, Philips-Medisize, and Zoltrix. Characterized by the presence of several well-established players and regional vendors, the market is dominated by international vendors. The market is highly capital-intensive, which makes it difficult for small regional players to sustain competition. As several players compete to acquire a significant share of the market by expanding and proliferating both geographically and in terms of products offered, the market appears to be highly competitive. The market’s growth is entirely dependent on the demand from customers and to attain a sustainable competitive advantage. PIM manufacturers have the need to cater to the needs of the end-users, especially the medical, orthodontics, and automotive industries.
A more detailed analysis is available in the Technavio report, Global PIM Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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