The global ceramic injection molding market is expected to grow at a compound annual growth rate of 8.2 percent during the forecast period of 2019 to 2027, according to a new report by AMR. The report states that the market is driven by growing demand from automotive, electrical and electronics, aerospace, and medical industries.
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Ceramic injection molding is a process of manufacturing components by injecting a slurry or powder of ceramic material into a metal or plastic mold. It is a cost-efficient and precise process that is used to produce high-precision components with complex shapes. Ceramic injection molding is used in the production of components for various industrial applications such as automotive, electrical and electronics, aerospace, and medical.
The automotive industry is the major consumer of ceramic injection molding for the production of components such as switches, relays, connectors, and fuel injection components. The growing demand for fuel efficient and light weight vehicles has increased the demand for ceramic injection molded components.
The electrical and electronics industry is also a major consumer of ceramic injection molding for the production of connectors and switches for consumer electronics products. The aerospace industry is also expected to show significant growth in the demand for ceramic injection molded components. Furthermore, the medical industry is increasingly using ceramic injection molding for the production of implants and surgical instruments.
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The market is also driven by the increasing demand for miniaturization of components, advancements in technology, and the increasing need for lightweight components. The growing demand for ceramic injection molded components in the automotive and aerospace industries is also driving the market. The increasing demand for lightweight and durable components is also creating a favorable environment for the ceramic injection molding market.
However, the high cost of ceramic injection molding is restraining the growth of the market. Additionally, growing environmental concerns and stringent regulations are also restraining the growth of the market.
The ceramic injection molding market is segmented on the basis of material, application, and region. On the basis of material, the market is segmented into zirconia, aluminum oxide, silicon nitride, and others. On the basis of application, the market is segmented into automotive, electrical and electronics, aerospace, and medical.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is expected to dominate the market due to the presence of major players in the region and the presence of major automotive and aerospace companies. Europe is expected to be the second-largest market due to the increasing demand for lightweight and fuel-efficient vehicles.
The major players in the global ceramic injection molding market are CoorsTek Inc., Precision Ceramics, Ceramtec GmbH, International Syalons, Ceradyne Inc., Morgan Advanced Materials, and Shinagawa Refractories Co., Ltd.
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In conclusion, the global ceramic injection molding market is expected to show significant growth during the forecast period due to increasing demand from the automotive, electrical and electronics, aerospace, and medical industries. The increasing demand for lightweight and fuel-efficient components is driving the market. The high cost of ceramic injection molding is restraining the growth of the market.