Pune, India, Feb. 05, 2021 (GLOBE NEWSWIRE) -- According to our new research study on “Ceramic Injection Molding Market to 2027” the ceramic injection molding market was valued at US$ 377.76 million in 2019 and is projected to reach US$ 707.38 million by 2027; it is expected to grow at a CAGR of 8.3% during 2020–2027.
Numerous advantages of ceramic injection molding are driving the market growth. However, longer production time of ceramic parts hampers the market growth.
In 2019, Asia Pacific accounted for the largest share of the ceramic injection molding market. The market growth in this region is primarily attributed to the wide availability of ceramic materials such as alumina and zirconia at low costs, and the presence of market players offering enhanced ceramic injection molding processes. Moreover, the extended applications of ceramic injection molding in industries such as healthcare (medical instrument production), industrial machinery, automotive, and consumer goods boost the demand for the same in Asia Pacific. The rising trend of using technologically advanced products, coupled with advancements in technologies, boosts the demand for ceramic injection molding in the region.
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Greater Utilization of Ceramic Injection Molding by Automotive and Electronics Industries Augments Market Growth
Ceramic injection molding is a flexible, cost-effective, and innovative process that provides versatility to product designers and production engineers while using ceramics. It focuses on quality and precision and is closely monitored to meet the user requirements. Ceramics act as a good substitute for plastic and metal components that are incapable of performing as per the requirement. While working with these materials, the designers and engineers face limitations in terms of geometry due to the cost of shaping operations. The ceramic injection molding helps in overcoming this issue with the formation of the net shape parts in the tool. It also confers benefits such as wear and corrosion resistance, thermal stability, high mechanical strength, and dimensional stability.
Ceramic injection molding is highly used in industries such as automotive, electronics, and consumer goods to produce highly accurate, complex ceramic components and parts for electronics, mobile phones, and consumer goods. The production of portable computing devices, cellular phones, gaming systems, and other personal electronic devices has increased exponentially in the past few years, which has been a major factor propelling the expansion of the ceramic injection molding industry. Moreover, with rapid industrialization and urbanization—leading to increased disposable income, particularly in the developing regions—has lead to the rise in the adoption of electronic items and vehicles. To cater to the escalating demands for these products, the automotive companies are increasingly using molded miniature products with high strength and structural complexity. Complex and vital components in electronic systems, engines, and locking mechanisms are usually manufactured by injection molding processes. Technical ceramics function efficiently under extreme conditions such as high temperatures, corrosive atmospheres, and abrasive conditions. Also, advanced ceramics can be integrated with excellent mechanical characteristics with a low specific weight; therefore, they are considered lightweight construction materials and thus find applications in moving aeronautics and automotive components as well as in engine components.
Ceramic Injection Molding Market: Segmental Overview
On the basis of type, the ceramic injection molding market is segmented into alumina, zirconia, and others. The alumina segment led the market with the largest share in 2019. Alumina is used in a powder form in ceramic injection molding. Alumina ceramic has a high mechanical hardness, thermal conductivity, and electrical resistivity. It is an excellent ceramic oxide that has a wide range of applications in the form of catalysts, absorbents, chemicals, microelectronics, and in other high-tech fields.
The ceramic injection molding market, by industry vertical, is segmented into industrial machinery, automotive, healthcare, electrical and electronics, consumer goods, and others. The healthcare segment led the market with the largest share in 2019. Ceramic injection molding is used in the manufacturing of dental implants, tweezers, and endoscopic tools, among others. Moreover, the oxides of zirconia and alumina are used in the fabrication of numerous appliances. The ability of ceramic injection molding process to modulate the roughness and surface quality of components used in medical devices is supporting the market growth for the healthcare industry.
Ceramic Injection Molding Market: Competition Landscape and Key Developments
A few of the key players operating in the global ceramic injection molding market are AMT Pte. Ltd.; ARBURG GmbH + Co KG; Ceramco, Inc.; CoorsTek Inc; INDO-MIM; Klager; MICRO, Morgan Advanced Materials; Nishimura Advanced Ceramics Co.,Ltd; and Oechsler AG. The major market players are focused on strategies such as mergers and acquisitions, and research and development to expand their geographic presence and clientele.
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(Ceramic Injection Molding Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America)
In August 2019, MICRO opened its state-of-the-art 15,000-square-foot R&D center in a 50,000-square-foot building at 130 Belmont Drive. This building would also serve as Micro’s headquarters, allowing it to optimize the manufacturing space at their other two locations in Somerset.
On 30 September 2020 ARBURG’s Italian subsidiary officially opened its new premises in Peschiera Borromeo. With ~2,000 m² of floor space, the new premises offer more space for intensive customer support and training as well as for larger specialist conferences and events.
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