Overview and Scope
Micro injection molded plastic refers to plastic that is molded using the micro injection molding technique. Micro injection molding is used for manufacturing very small parts and components such as hearing aids, septum, pressure-sensing diaphragms, surgical devices, and wearable drug-delivery devices.
Sizing and Forecast
The micro injection molded plastic market size has grown rapidly in recent years. It will grow from $1.07 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to automotive lubricants, metalworking fluids, rubber processing, increased textile applications, plasticizers production, metal protection.
The micro injection molded plastic market size is expected to see rapid growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to growing automotive industry, demand for specialty lubricants, expansion of metalworking industry, adoption of bio-based plastics, increasing textile production. Major trends in the forecast period include technological advancements in production, market consolidation and strategic alliances, adoption of bio-based plastics, grease formulations, sustainable and bio-based alternatives.
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Segmentation & Regional Insights
The micro injection molded plastic market covered in this report is segmented –
1) By Types: Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM), Polymethyl Methacrylate (PMMA), Polyetherimide (PEI), Polybutylene Terephthalate (PBT), Other Types
2) By Machine type: All-Electric Injection Molding Machines, Hybrid Injection Molding Machines, Hydraulic Injection Molding Machine
3) By Application: Medical, Automotive, Optics, Electronics, Other Applications
Asia-Pacific was the largest region in the micro injection molded plastic market in 2023. The regions covered in the micro injection molded plastic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growth in the automotive sector is expected to propel the growth of the micro injection molded plastic market going forward. Automotive refers to all forms of mobile machinery, including automobiles, trucks, buses, vans, motorbikes, and golf carts. Microinjection molding plastic is used in the automotive industry to produce small parts such as fenders, grilles, bumpers, door panels, floor rails, light housings, gears, housings, and connectors. This is due to the need for lightweight materials, high-precision parts, and more complex designs. In electric vehicles, electronic components, such as DC converter, all-electric auxiliary, electric traction motor, traction battery pack, and electric gearbox use micro injection molded plastic. For Instance, in February 2023, according to European Automobile Manufacturers Association (ACEA), a Belgium-based group for the automobile industry in European Union, in 2022, over 68 million passenger cars were produced globally, an increase of 7.9% from 2021. Additionally, in September 2022, according to International Energy Agency a France-based intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million, representing a sales share of approximately 9%, compared to 2020, bringing the number of electric cars on the road to 16.5 million in total. Therefore, growth in the automotive sector is driving the growth of micro injection molded plastic.
Key Industry Players
Major companies operating in the micro injection molded plastic market report are Accumold LLC, Isometric Micro Molding Inc., Makuta Micro Molding Inc., Precimold Inc., MTD Micro Molding Inc., Microsystems Precision Medical Moulds, Veejay Plastics Injection Molding Company, Knightsbridge Plastics Inc., Polymermedics Ltd., Manner Plastics LP, Microdyne Plastics Inc., SMC Ltd., Mikrotech LLC, Sovrin Plastics Ltd., Stack Plastics Inc., 3A Composites, D&M Plastics LLC, Exxon Mobil Corporation, Badische Anilin- und Sodafabrik SE, INEOS Group Holdings SA, Spectrum Plastics Group Inc., LyondellBasell Industries Holdings B.V., Paragon Medical Inc., GSH Industries Inc., Rogan Corporation, Saudi Basic Industries Corporation, BMP Medical Ltd., Precikam Inc., Precission Micro molding LLC, Micromold Inc.
The micro injection molded plastic market report table of contents includes:
- Executive Summary
- Micro Injection Molded Plastic Market Characteristics
- Micro Injection Molded Plastic Market Trends And Strategies
- Micro Injection Molded Plastic Market – Macro Economic Scenario
- Global Micro Injection Molded Plastic Market Size and Growth
- Micro Injection Molded Plastic Market Segmentation
- Micro Injection Molded Plastic Market Regional And Country Analysis
………………
- Key Mergers And Acquisitions In The Micro Injection Molded Plastic Market
- Micro Injection Molded Plastic Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Micro Injection Molded Plastic Market, Segmentation By Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Micro Injection Molded Plastic Market, Segmentation By Machine Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Micro Injection Molded Plastic Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………….
Table 74: Accumold LLC Financial Performance
Table 75: Isometric Micro Molding Inc. Financial Performance
Table 76: Makuta Micro Molding Inc. Financial Performance
Table 77: Precimold Inc. Financial Performance
Table 78: MTD Micro Molding Inc. Financial Performance
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