Metal injection molding (MIM) is a near net shape manufacturing technology that is extremely cost effective in producing small, complex parts. With benefits such as excellent utilization of metals and alloys, which leads to less waste, efficient energy utilization, and positive environmental impacts, the manufacturing technology is of prime interest to the metal forming industry. It can be used to overcome the drawbacks associated with conventional casting and machining techniques and allows one to redesign multiple components into a single part and simplify manufacturing processes. Metal injection molding has significant advantages when manufacturing small parts with high density and complex geometry. Because of the ability to make high density parts with very close tolerance limits and excellent surface quality, metal injection molding technology has a wide range of applications and has been used to manufacture parts and components for aerospace, automotive, electronics, telecommunications, consumer, medical, and dental industries.
According to a soon-to-be-released report RGB-306 Metal Injection Molding from Business Communications Co, Inc, the global metal injection molding market was estimated at $382 million in 2004. This market is projected to grow at an average annual growth rate (AAGR) of 8.4%, reaching $571 million by 2009.
MIM companies in the developed world with high wage structures have to compete with metal and alloy parts made by conventional and established routes, using low wage earners in the developing countries. Further, new companies in the low wage countries are adopting the MIM technology. Nonetheless, opportunities exist in many sectors of the global economy. Many potential applications are yet to be pursued. There are still potential customers who are unaware of the MIM technology and its economic benefits. The MIM manufacturing companies need to identify the opportunities in a diligent and systematic manner, build up customer confidence in the technology, and continue to be price competitive. The major advantages over forging, die casting, casting, and machining, as well as press and sinter PM technologies, need to be marketed aggressively.
North America comprises the bulk of the market with a share of 44.5% in 2004. Its share is likely to drop to 42% as it grows at an AAGR of 7.1% through the forecast period. The MIM market in Japan stood at $112 million in 2004. This is the fastest growing market with an AAGR of 10.6% through 2009.
The main end-user markets include consumer products, medical and orthodontic products, and telecommunications. These are expected to exhibit double-digit growth. Additional applications exist in the automotive, industrial, and aerospace sectors of the economy.