Major MarketMIM Market OverviewSince its inception, MIM has become a success story. Currently the market size exceeds $1billion, and is seeing an annual growth of 10-20% worldwide. The worldwide annual growth amounts to 14%, and it is projected that the market size will roughly double in the next 5 years. In the short period between 2003 and 2007, the annual feedstock consumption doubled from 3000 to 6000 tons.
Currently, there are around 400 parts producers worldwide, ranging from small operators to major continuous manufacturing plants that serve the demand of major users like the automotive industry. Equipment and material suppliers offering MIM feedstock, injection molding machines and furnaces, support the growing numbers of producers. There is a very broad range of Industries in which MIM parts are used, including the following:
Medical and orthodontic applicationsAutomotive componentsIT, electronics and telecommunicationDomestic appliancesAerospace industryPower toolsMilitary applications
It is interesting to observe that there are large regional differences in MIM application concentration. While the MIM market in Europe is largely dominated by the automotive industry and consumer industry, IT applications and electronics take up the largest share in Asia, and in North America medical, orthodontic and firearms applications represent the biggest share of the MIM