Thursday, July 5, 2012
Research and Markets: The Global Powder Injection Molding Market to Grow
One of the key factors contributing to this market growth is the need to reduce product manufacturing costs. The Global Powder Injection Molding market has also been witnessing the development of next-generation products by the vendors. However, increasing price wars among competitors could pose a challenge to the growth of this market.
Key vendors dominating this market space include Kinetics Climax Inc., Philips-Medisize Corp., and Plastic Products Co., Inc.
TechNavio today launched its report Global Powder Injection Molding Market 2011-2015 based on an in-depth study covering the Americas, and EMEA and the APAC regions. The report aims to aid decision makers' understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio's Engineering team said; The Global Powder Injection Molding (PIM) market is witnessing a large number of customers starting to invest in commercialized custom PIM machines. The market vendors are nowadays developing application-specific PIM products to meet specific customer application requirements as the market is highly volatile as a result of the global recession. For instance, the Healthcare industry has no relation with the global recession. Thus, many vendors have started focusing on developing medical application-specific PIM products.
According to the report, PIM enables cost-effective manufacturing by reducing overall manufacturing costs and several applications costs. Therefore, manufacturing companies adopt PIM to improve their product development cycles in a cost-effective manner.