According to the latest market study released by Technavio, the medical and orthodontics sector accounted for a market share of almost 25% in the global powder injection molding (PIM) market in 2015 and is expected to grow at a CAGR of 11% during 2016-2020.

One of the most significant applications of PIM technology is the creation of orthodontic brackets, which forms a major product within the industry, the market research says. These brackets are small and precise parts that are made out of 316L stainless steel. Currently, ceramic injection molding is replacing metal injection molding (MIM) technology to develop translucent brackets that offer a better, discreet, and aesthetic appearance.

‘MIM has developed as a technology that is capable of producing high volume precision components of accurate shapes,’ said Gaurav Mohindru, engineering tools analyst from Technavio. ‘Therefore, this process is considered an essential and preferred manufacturing technology in the medical devices industry for the past two decades. Significant developments have been made toward the incorporation of MIM technology to produce implantable components that are used in drug delivery devices and joint replacement applications.’

The automotive sector was the second largest segment in the market in 2015, accounting for a market share of over 21% and is expected to grow at a CAGR of 10.4% during the forecast period, while the consumer electronics and IT sector is one of the fastest growing segments in the market, growing at a CAGR of more than 11% and is anticipated to account for a market share of almost 20% by 2020. 

This story is reprinted from material from Technavio, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.