The Powder Injection Molding Market is being driven by Technological innovations in injection molding robots
The Powder Injection Molding Market is expected to grow at a CAGR of 6.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1172.5 million. In the realm of Powder Injection Molding (PIM), the integration of collaborative robots (cobots) into manufacturing processes is gaining significant traction. Cobots, characterized by their cost-effectiveness and versatility, offer a unique value proposition for PIM operations. They augment human labor, enabling a harmonious collaboration between humans and robots. Equipped with advanced sensors and robot controllers, cobots execute tasks with precision and consistency, enhancing overall productivity and adhering to stringent safety standards. By combining the analytical skills and experience of human workers with the speed and accuracy of cobots, manufacturers can optimize their PIM processes and maintain a competitive edge in the industry.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.1% |
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Market growth 2024-2028 |
USD 1172.5 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2023-2024(%) |
5.6 |
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Key countries |
US, China, Japan, Germany, UK, India, South Korea, France, Canada, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Powder Injection Molding (PIM) market holds significant potential in the field of ophthalmology, particularly for vision correction and aberration correction. This technology can aid in producing customized ophthalmic lenses for various refractive errors such as presbyopia, astigmatism, myopia, and hyperopia. PIM can help address lower-order errors like spherical and cylindrical errors, as well as higher-order errors, ensuring improved patient safety during eye care procedures. Ophthalmologists and optometrists can benefit from this technology by enhancing their clinical trials, surgical planning, and access to care. Eye health professionals can leverage PIM to offer cost-effective solutions through LASIK surgery, intraocular lenses, and vision insurance. Moreover, PIM can be instrumental in correcting refractive errors using precision medicine, reducing the need for eye drops and eye exams. Telemedicine in ophthalmology can also benefit from PIM, enabling remote diagnosis and treatment of lower-order vision issues. However, it is essential to consider the safety and side effects of LASIK surgery, especially for myopic patients, and continuously innovate to address these concerns. Additionally, PIM can contribute to the development of corneal topography, corneal thickness measurement, and intraocular lens design, ultimately improving the overall quality of vision correction surgery.
The Powder Injection Molding (PIM) market is a significant segment of the larger industrial machinery and supplies and components market, serving enterprises specializing in this advanced manufacturing process. According to Technavio's market analysis, the global industrial machinery and supplies and components market's size is determined by the consolidated revenue of machinery and component manufacturers catering to industrial applications. Key growth drivers for this market include expanding industrial production in process and discrete industries, particularly in developing countries, fueling demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages. Businesses are focusing on innovation, digital transformation, and leveraging technologies such as AI, machine learning, big data, and cloud computing to optimize strategies and sales processes. SMEs in the PIM industry are also adopting these technologies to enhance competitiveness and improve operational efficiencies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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