South America Metal Injection Molding Market Forecast to 2027 – COVID-19 Impact and 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)
Number of Pages- 73
Market Introduction
Metal injection molding is a flexible, cost effective process 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 of performing as per the requirement. The metal injection molding focusses on quality, precision and is a process which 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 like resistance to wear & corrosion, thermal stability, high mechanical strength, and dimensional stability.
Market Overview and Dynamics
The metal injection molding market in South America was valued at US$ 72.96 million in 2019 and is projected to reach US$ 120.77 million by 2027; it is expected to grow at a CAGR of 6.6% from 2020 to 2027. Various advantages offered by metal injection molding, greater utilization of the technology by automotive and electronics industry are the key factors expected to drive the market. Metal injection molding is used to manufacture various medical components, surgical instruments ad orthodontics. Medical equipment manufacturers are designing and developing lighter and more intricate products with hard-to-machine materials such as austenitic, martensitic, and precipitation-hardened stainless steel, titanium, and nickel-free alloys. Instruments such as dissectors, knives, conchotomes, scalpels, and spreaders for minimally invasive surgeries are becoming lighter and offer greater freedom of movement. Metal injection molding is highly exploited by industries such as automotive, electrical, and electronics. It is highly utilized in the production of consumer electronics. Metal injection molding is gaining momentum in the electronics industry due to the rising demand for small and complex parts in the industry coupled with the increasing demand for the miniaturization of electronics devices.
However, high cost of raw materials may hinder metal injection molding growth in South America. Besides, COVID-19 is anticipated to cause heavy loss in South America economy. Brazil has the largest COVID-19 cases in the South America region, and is followed by Colombia and Argentina, among others. Disruptions in supply chain impacted the market growth negatively.
Key Market Segments
The South America Metal Injection Molding market is segmented into material and industry vertical. On the basis of material, the South America metal injection molding market is segmented into stainless steel, low alloy steel, soft magnetic material, and others. In 2019, the stainless steel segment dominated the South America metal injection molding market. Based on industry vertical, the South America metal injection molding market is segmented into automotive, electrical and electronics, consumer goods, firearms and defense, medical and orthodontics, and others. The automotive segment is expected to grow at the fastest growth rate during the forecast period of 2020-2027.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the metal injection molding market in South America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Arc Group Worldwide; CMG Technologies; Molex,LLC; INDO-MIM; and MPP among others.
Reasons to buy report
South America Metal injection molding Market Segmentation
South America Metal Injection Molding Market, by Material
South America Metal Injection Molding Market, by Industry Vertical
South America Metal Injection Molding Market, by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 72.96 Million |
| Market Size by 2027 | US$ 120.77 Million |
| CAGR (2020 - 2027) | 6.6% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Material
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Metal Injection Molding Market is valued at US$ 72.96 Million in 2019, it is projected to reach US$ 120.77 Million by 2027.
As per our report South America Metal Injection Molding Market, the market size is valued at US$ 72.96 Million in 2019, projecting it to reach US$ 120.77 Million by 2027. This translates to a CAGR of approximately 6.6% during the forecast period.
The South America Metal Injection Molding Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Metal Injection Molding Market report:
The South America Metal Injection Molding Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Metal Injection Molding Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Metal Injection Molding Market value chain can benefit from the information contained in a comprehensive market report.
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