The Global Micro Injection Molded Plastic Market Size is valued at 1.25 billion in 2022 and is predicted to reach 3.34 billion by the year 2031 at a 11.74% CAGR during the forecast period for 2023-2031.
A crucial technology in the field of micro-manufacturing is micro injection molding. This procedure involves imitating the micron- or submicron-scale characteristics seen in metallic molds on a polymeric product. Granular material is moved from a hopper to a plasticizing machine to start the process, where it is melted and softened. The global increase in surgical operations substantially impacts the rising demand for molded plastic applications.
Rising demand for tiny injection-molded plastic components and products has resulted from the rise in surgical procedures across various medical specialties. There is a growing demand for precise and finely made plastic parts to support improvements in medical processes. Additionally, the market for micro injection-molded plastics has great growth possibilities due to the growing popularity of electric vehicles. Moreover, micro injection-molded plastic is projected to be in high demand as the popularity of electric vehicles rises.
Electric cars use various electrical parts, including power electronics controllers, DC converters, all-electric auxiliary systems, traction battery packs, electric transmissions, and electric traction motors. These parts, made of many tiny parts, are very important for making electric vehicles. Utilizing micro injection molding equipment makes producing these complex and microscopic components easier.
Competitive Landscape:
Some of the Micro Injection Molded Plastic market players are:
- Exxon Mobil Corporation
- BASF SE
- INEOS Group Holdings SA
- SABIC
- LyondellBasell Industries Holdings BV
- Huntsman International LLC
- DowDuPont
- Eastman Chemical Company
- Reliance Industries Limited
- Chevron Phillips Chemical Company
Market Segmentation:
The micro injection, molded plastic market is divided into material type and application. Based on product, the micro injection, molded plastic market is divided into liquid-crystal polymer (LCP), polyether ether ketone (PEEK), polycarbonate (PC), polyethylene (PE), polyoxymethylene (POM), polymethyl methacrylate (PMMA),pPolyetherimide (PEI), polybutylene terephthalate (PBT), and others. The market is divided by application into medical, automotive, optics, electronics, and others.
Based On Application, The Medical Segment Is A Major Contributor To The Micro Injection Molded Plastic Market
The medical category will hold a major share of the global Micro Injection Molded Plastic market 2022 owing to the demand for extremely sophisticated medical apparatus for various applications that call for small and complicated elements. In addition, the need for micro-injection molded plastic components has grown as medical devices like insulin pumps, catheters, and surgical tools become further miniaturized. Micro injection molding is a popular choice for manufacturers of medical devices due to its great precision and accuracy while producing complex geometries.
The Polycarbonate Segment Witnessed Growth At A Rapid Rate
The polycarbonate segment is projected to grow rapidly in the global Micro Injection Molded Plastic market. Since they are widely utilized in modern advanced medical equipment, electric car microsensors, and other components of the electronic industryPolycarbonate is frequently used in micro injection molding to create small, accurate plastic components. It is helpful in producing complex parts with precise tolerances due to its remarkable flowability and capacity to fill intricate mold geometries. Transparency-demanding applications favor polycarbonate, including optical lenses, LED components, and display panels.
The performance and adaptability of polycarbonate help the microinjection molded plastic market because it makes it possible to manufacture cost-effective, high-quality micro-components.
The North American Micro Injection Molded Plastic Market Holds A Significant Regional Revenue Share
The North American micro injection molded plastic market is projected to register a tremendous market share in revenue soon. Since this region is home to some industries for microinjection molded plastic items that are expanding at the highest rates, such as healthcare, electronics, automotive, and aerospace. Additionally, compared to other regions, this region has comparatively inexpensive labor and manufacturing expenses, which attracts businesses that make tiny injection molding. In addition, Asia Pacific is projected to grow rapidly in the global micro-injection molded plastic market.
The regional market is expected to profit from the growing number of plastic injection molding businesses in China due to the country's low manufacturing costs and abundance of trained workers. Due to the region's increasing need for plastic products, major foreign corporations are expanding their production capacity there. The development of the plastics market in China and India has been aided by government support to boost FDI flow.
Micro Injection Molded Plastic Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 1.25 Bn |
|
Revenue forecast in 2031 |
USD 3.34 Bn |
|
Growth rate CAGR |
CAGR of 11.74 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Product, System Type And End Users |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Exxon Mobil Corporation, BASF SE, INEOS Group Holdings SA, SABIC, LyondellBasell Industries Holdings BV, Huntsman International LLC, DowDuPont, Eastman Chemical Company, Reliance Industries Limited and Chevron Phillips Chemical Company, and other players. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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