Metal Injection Molding Market Size

Global Metal Injection Molding Market size was valued at USD 4.5 billion in 2023 and is poised to grow from USD 5.0 billion in 2024 to USD 11.7 billion by 2032, growing at a CAGR of 11.2% during the forecast period (2025-2032).

The global metal injection molding industry is experiencing rapid growth due to the growing demand for small components in electronics and health services, as MIM enables the production of complex, high-collective parts. For example, Apple and Samsung MIM technology are used for compact and durable smartphone components such as the hinges, parentheses and contacts, and improves the device's functionality by maintaining slim design.

Another factor that motivates the market is the increasing need for light parts in the motor vehicle industry to improve fuel efficiency and battery performance in electric vehicles (EV). In February 2024 Hyundai Motor Group Georgia, U.S. In the announcement of a new EV factory, which will use the MIM-layered light metal parts to increase the efficiency of the vehicle and reduce production costs.

Medical and dental applications of MIM are also expanded rapidly, motivated by customized transplants, surgical equipment and orthodontic parentheses. In May 2024, a collaboration between Johnson & Johnson Medical Devices and an advanced MIM producer development of biocampic titanium implants led to better strength and accuracy for orthopedic processes.

In addition, the cost of MIM in mass production attracts industries that require high-triggered, high employees metal parts. Companies such as Indo-MIM and Smith Metal products invest in automation and AI-operated process adjustment to reduce production costs while maintaining better quality.

How is AI Transforming the Metal Injection Molding Market?

In 2024, Artificial Intelligence (AI) continued to revolutionize the metal injection molding industry through strategic collaborations and technological advancements. Artificial Intelligence (AI) is revolutionizing the metal injection molding (MIM) industry by enhancing various stages of the manufacturing process, leading to increased efficiency, precision, and innovation. AI-powered generative design tools enable engineers to explore a vast array of design permutations rapidly. By inputting specific constraints and requirements, AI algorithms can produce optimized component designs that balance material usage, structural integrity, and manufacturability. This approach not only accelerates the design process but also results in innovative geometries that were previously unattainable. For instance, companies like Autodesk have incorporated AI into their CAD-CAM software, allowing for the rapid generation of alternative designs optimized for various parameters.

In early 2024, Atomic Industries, a Michigan-based startup, partnered with LS Mtron to integrate AI-designed molds with advanced injection molding machines. This collaboration aims to optimize mold features for each part, enhancing production efficiency and precision. By leveraging AI, Atomic Industries seeks to streamline the mold-building process, offering customers optimized molds more quickly and cost-effectively.