STUDY GOALS AND OBJECTIVES
The global market for metal injection molding (MIM) and ceramic injection molding (CIM) has exhibited spectacular growth over the last two decades. BCC Research studied this market twice in the past, first in 2005 and then in 2008.
In 2004, the global market size for MIM was reported to be $382 million, with expected growth to $571 million by 2009. In 2009, the market size for MIM was reported to be $985 million, with expected growth to $1.9 billion by 2014.
Currently BCC Research is reporting the global MIM market to be $1.5 billion in 2012 with expected growth to reach nearly $2.9 billion by 2018.
The main objective of this report is to understand the growth, potential future growth and the changes that are taking place in the MIM market. Since ceramic injection molding is a related market, details of this industry are also covered in this report.
The market has grown into several new applications, firearms being the most prominent. One of the objectives in this study is to take a deeper look into this market, the major players and the market characteristics in this industry.
On the supply side, the report also takes a deeper look into selected powder/feedstock and equipment suppliers, who have helped in developing the industry, while growing along with the industry. These case studies on the application and supply sides are expected to provide readers with a clearer understanding of the market from a historical perspective.
The report also looks into the technical aspects of the industry, and discusses the technical trends, current challenges and breakthroughs and potential future directions the industry will take. A separate chapter has been included with analysis of the U.S. patents related to the metal injection molding industry. Here trends in various subcategories are presented and discussed.
REASONS FOR DOING THE STUDY
The market crash in 2008 and 2009 has had its share of repercussions in the MIM industry as well. With automotive sales dropping significantly across the world, the specific application market for MIM also felt serious damages, with several smaller companies concentrating only in the automotive industry falling into financial trouble, and later closing down or getting acquired.
Larger companies have weathered the storm and have grown stronger and larger in the meantime. The diversification into other applications such as medical and dental, aerospace, electronics and communications, and luxury products, have been beneficial to such companies in weathering the storms in one industry.
Growth in the cell phone and other handheld products and electronics have been a boon to the MIM industry for the last decade, and this has also resulted in the industry shifting its base slowly to emerging markets and Asia, where most of the electronics manufacturing takes place.
This shift is also helping open up new applications and markets for the technology, as the original technology and markets were developed in the U.S. and were focused in the dental and automotive markets.
The report discusses various trends in the geographical growth of the industry.
Another interesting change happening in the industry is the size of the largest players starting to cross the $50 million mark. The first two MIM manufacturers to break this barrier are the ARC Group, because of its recent acquisition, and Indo-U.S. MIM. BCC Research expects that there could be five to 10 players crossing the $50 million mark by 2018, and several crossing the $100 million mark as well. On the supply side also, there would be several players enjoying $50 million in sales from MIM industry in the next few years.
This report is aimed at five major audience groups.
Suppliers to the MIM and CIM industry will benefit from understanding the details of their customer market, major players, technical trends and general market requirements. This group includes metal powder, feedstock and equipment suppliers.
MIM and CIM manufacturers will benefit from understanding their industry scenario as well as the changes in their supply and customer markets. Specific case studies, especially of the firearms market, would be attractive, as detailed data on production volumes, market segments and players in each of the four segments of the firearms industry are provided.
End users of MIM and CIM products will benefit from learning the details of the technology, newer applications and geographical availability of production sites and quality capabilities of specific suppliers when evaluating their own supply chain partners. This is especially useful for customers in the medical device segment, where FDA approval and other stringent quality concerns require the suppliers to be top class in both experience and expertise, as the problems associated with a failed part tend to be very high in this market.
The report will be highly useful for professionals in the financial marketplace such as private equity companies, investment managers, owners and C-level executives in companies, as well as outside entities considering entry into the MIM and CIM market. Specifically, financials of several companies are presented. Also included is a detailed analysis of the cost of establishing a new MIM unit and an analysis of the expected returns on investment.
Lastly, the technical family in the industry will benefit from the discussions of patents and intellectual property that are discussed in this report. A special chapter is included with patent field analytics. Undeniably, the market impact of various patents is the key reason for the growth of the MIM market, as technically brilliant solutions to the marketplace problems are richly rewarded in this industry. Improving efficiency and effectiveness of products in the various end-markets provides strong financial compensation, and BCC Research hopes that this report will attract other technologists to join the industry and help support its growth by bringing new ideas and solutions while getting rewarded for the same. The MIM industry is unique in that history has demonstrated that technical competence and excellence are prerequisites for success in this market.
SCOPE OF REPORT
The report summarizes the market trends in the MIM and CIM industry globally. Although the emphasis is mainly on the MIM market, the CIM market is discussed in as much detail as possible.
Industry basics of both Metal and Ceramic Injection Molding are provided in separate chapters, after the Executive Summary.
In addition, three separate chapters analyze the supply side, production side and end-user markets of the MIM and CIM industry. The supply side chapter covers powder manufacturers, feedstock manufacturers and equipment makers who support the MIM and CIM industry. Application markets are analyzed in detail, especially for the firearms market. Here the four subcategories of pistols, revolvers, rifles and shotguns are presented in terms of numbers, major players and trends.
Patents related to MIM and CIM are analyzed in the subsequent chapter. The final chapter provides detailed profiles of nearly 200 top companies, including patents owned by each and company financials where specific data is available.
Since the industry is highly technical in nature, the report has a strong focus on the technical details of the industry, and should provide numerous tips, guidance and data sets to companies already working in the MIM industry with one material or process and want to branch out into other materials and processes.
METHODOLOGIES AND INFORMATION SOURCES
Information presented in this report is collected and categorized from both primary and secondary information sources. Primary information sources are contacts in the industry, who were contacted by E-mails, phone calls or personal visits and interviews. The author acknowledges the strong and open communication provided by numerous company representatives in this regard. Specific data and views on trends were provided by numerous industry personnel. Data published by industry groups such as the Metal Powder Industries Federation (MPIF), the Japan Powder Metallurgy Association (JPMA) and other powder metallurgy associations were also used widely in the analysis.
Secondary information sources include Internet, market publications, the U.S. Patent and Trademarks Office (USPTO), the U.S. Census Bureau, trade statistics, other specific data sources as well as books, technical journal articles, Masters and Doctoral thesis documents, and company literature.
The data collected was analyzed and extrapolated where required and assumptions made at several instances based on specifics that are available. With the “long tail” of companies present in the market, the error margin in the calculations are expected to be higher than for several other industries. The best possible attempts have been made to accurately portray the market size and trends based on the data that is available from the above mentioned sources.
ABOUT THE AUTHOR
Vijay Subramanian has a PhD in Materials Science and has extensive experience in the field of materials, including an in-depth understanding of metal powders and their applications. He worked for more than a decade in the automotive industry in the U.S. and later in India, and owns multiple U.S. patents in the fields of friction materials and coatings. He has authored reports for BCC Research since 2012. Other reports by the author include AVM086A Top Ten Suppliers of Friction Products and Materials, AVM088A Top Ten Companies in Powder Metallurgy, FOD053A Top Ten Supplies of Food Safety Products and Technology, and AVM033B Abrasive Materials, Products, Applications and Global Markets.
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The information developed in this report is intended to be as reliable as possible at the time of publication and is of a professional nature. This information does not constitute managerial, legal or accounting advice, nor should it be considered as a corporate policy guide, laboratory manual or an endorsement of any product, as much of the information is speculative in nature. BCC Research and the author assume no responsibility for any loss or damage that might result from reliance on the reported information or from its use.