Micro Injection Molded Plastic Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By 2033
- PUBLISHED ON
- 2023-06-01
- NO OF PAGES
- 262
- CATEGORY
- Chemicals & Materials
Micro Injection Molded Plastic market size was valued at USD 1,166 million in 2022 and is projected to reach USD 3,500 million by 2033, growing at a CAGR of 11.4% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 1,166 million |
Market Forecast in 2033 | USD 3,500 million |
CAGR % 2023-2033 | 11.4% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Proto Labs Inc.; Accumold; Microtech Precision; MTD Micro Molding; Makuta Micro Injection Molding; American Precision Products; Precimold; PTA Plastics; Stack Plastics; Plastikos Inc. |
Micro Injection Molded Plastic Market- Description
The micro injection molded plastic market refers to the production and use of plastic components with micro-scale features, typically ranging from a few micrometers to a few millimeters in size. This manufacturing process involves injecting molten plastic material into a mold cavity with micro-scale features and then cooling and solidifying the material to form the desired shape.
The demand for smaller and more compact devices has driven the need for micro-sized plastic components. Micro injection molding enables the production of intricate parts with complex geometries, allowing for the integration of multiple functionalities into a single component.
The development of new materials specifically tailored for micro injection molding has been a significant trend. These materials exhibit enhanced properties such as improved flowability, reduced viscosity, and high dimensional stability, enabling more precise and efficient manufacturing processes.
Micro Injection Molded Plastic market: Key Trends
• Adoption of Automation and Robotics
To meet the demand for high-volume production of micro-sized plastic components, automation and robotics have become integral parts of micro injection molding processes. Automated systems can perform tasks such as mold loading, part ejection, quality inspection, and assembly, enhancing productivity, reducing costs, and ensuring consistent quality.
• Sustainability and Eco-Friendly Solutions
Micro Injection Molded Plastic market: Segmental Analysis
Material Type
• LCP
• PEEK
• PC
• PE
• POM
• PMMA
• PEI
• PBT
Application
• Medical
• Automotive
• Optics
• Electronics
Micro Injection Molded Plastic market: Geographical landscape
The micro injection molded plastic market in North America is driven by the presence of a well-established manufacturing industry, technological advancements, and strong demand for miniaturized components in various sectors such as healthcare, electronics, and automotive.
Micro Injection Molded Plastic Market- Impact of COVID-19
The COVID-19 pandemic has had a significant impact on the global economy, including the micro injection molded plastic market. The pandemic has disrupted global supply chains, leading to delays in the delivery of raw materials and components. Many micro injection molding manufacturers rely on a steady supply of raw materials, such as plastic resins, which were affected by factory shutdowns and transportation restrictions.
Micro Injection Molded Plastic Market: Key Companies
• Proto Labs Inc.
• Accumold
• Microtech Precision
• MTD Micro Molding
• Makuta Micro Injection Molding
• American Precision Products
• Precimold
• PTA Plastics
• Stack Plastics
• Plastikos Inc.
• Others
Micro Injection Molded Plastic Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global Micro Injection Molded Plastic market size was valued at USD 1,166 million in 2022 and is projected to reach USD 3,500 million by 2033, growing at a CAGR of 11.4% during the forecast period.
What are the drivers shaping various markets?
Adoption of Automation and Robotics: - To meet the demand for high-volume production of micro-sized plastic components, automation and robotics have become integral parts of micro injection molding processes. Automated systems can perform tasks such as mold loading, part ejection, quality inspection, and assembly, enhancing productivity, reducing costs, and ensuring consistent quality.
Who are the key competitors of market Players?
Some of the major players operating within the market are Proto Labs Inc.; Accumold; Microtech Precision; MTD Micro Molding; Makuta Micro Injection Molding; American Precision Products; Precimold; PTA Plastics; Stack Plastics; Plastikos Inc.
What are the top performing segments, and countries / regions of each of the markets?
The region's large population, rising disposable income, and increasing demand for consumer electronics and automotive products drive the market growth. Countries like Brazil, Mexico, and Argentina contribute to the growth of the micro injection molded plastic market in Latin America. The market is driven by the expanding manufacturing sector, increasing industrialization, and growing demand for lightweight and miniaturized components in various industries.
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