November 2018: Adroit Market Research launched a study titled, “Global Micro Injection Molding Market 2017, by Application (Medical & Healthcare, Automotive, Telecom Fiber Optics, Micro Drive Systems & Control and Others), by Region and Forecast 2018 to 2025”. The study covers the global micro injection molding market value for a period between 2015 to 2025, where 2015 to 2017 imply the historical value with forecast between 2018 and 2025. The global micro injection molding market report also includes qualitative insights of the market such as value chain, Porter’s Five Forces, restraints and drivers.
The global micro injection molding market size is expected to reach USD 1.58 billion by 2025. Increasing technological advances in electronics, automotive and medical field along with growing adoption of micro-optics and microfluidics is expected to boost the market for micro injection molding globally.
Advancements in polymers and injection molding technologies have led to widespread adoption of micro molded plastic instruments in the medical industry. All segments of the medical industry are embracing the benefits of micro molded parts and equipment’s, and are looking to incorporate more in their designs in 2018 and beyond. As micro injection molding is still evolving and growing rapidly, its application in medical and healthcare industry is expected to grow at fastest CAGR of 14% over the forecast period. Automotive industry is projected to follow the medical and healthcare industry growing at the second fastest growth rate occupying a value of USD 424.7 million by 2025. With increasing electrification of automotive industry coupled with the trend of downsizing the use of plastics and micro molded parts is expected to go high in automotive industry.
North America is projected to occupy largest share global micro injection molding market by occupying more than 38% of the global share in 2025. Increasing demand for minimally invasive surgeries (MIS) especially in US is expected to be the major factor. As compared to open surgeries people in US people prefer MIS due to less incisions, fewer post-operation complications, quicker recovery and enhanced patient outcomes. As MIS involves making a very small cut on the patient’s part and then proceeding with the surgery using tiny surgical equipment’s. MIS has gained huge popularity among customers and is expected to be adopted globally as well. The Asia-Pacific region is expected to have the fastest growth rate in terms of adoption of Micro Injection Molding.
The global micro injection molding industry is fragmented as of 2017. Merger & acquisition is the strategy widely used by companies in MIM industry to gain the market share. Product launch is also being followed by few players but not as much as compared to M&A. For instance, In January 2019, Westfall Technik, Inc acquired Mold Craft, Inc. a manufacturer of high-precision injection molds for micro-sized plastic parts and high cavitation applications. This development would help improve the micro molding capabilities of Westfall and strengthen their offerings in market.
The top players in the global micro injection molding are Accu-Mold LLC, Stamm AG, Sovrin Plastics, Makuta Technics, Precimold Inc., Rolla AG, Micromold Inc., and American Laubsher Corp (ALC Precision), American Precision Products, Micromolding Solution Inc., Precimold Incorporation.
Key segments of the global micro injection molding market
Application Overview, 2015-2025 (USD million)
- Medical & Healthcare
- Telecom Fiber Optics
- Micro Drive Systems & Control
Regional Overview, 2015-2025 (USD million)
- North America
- United Kingdom
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest Of Asia Pacific
- Rest of the World