Polymer Microinjection Molding Market Regional Insights Uncover Emerging Opportunities

Posted on 2024-12-24 by researchinsights in Internet & Online // 0 Comments

The global polymer microinjection molding market size is expected to reach USD 2.53 billion by 2030, registering a CAGR of 10.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing demand for small sized components mainly from the medical industry is expected to be a key driving factor for the market. Microinjection molding is used to manufacture highly valued micro medical components such as sensors, implants, tubes, catheter tips and microoptics among some other components; the growing demand for these has had a positive impact on the market. The report further observes that shift in trend towards adoption of micromolding over micromachining, owing to its cost efficiency and development of microoptics and microfluidics technologies, particularly in North America and Europe is also expected to play a major role in the market growth.

Medical and healthcare emerged as the leading application markets for microinjection molding and accounted for just over one-third of the total market in 2012. Along with being the largest market, these are also expected to be the fastest growing market for microinjection molding at an estimated CAGR of 15.2% from 2013 to 2020. Growing demand for small sized components on account of increasing number of minimally invasive surgeries is expected to drive the market over the next six years. Automotive industry trailed medical and healthcare industry in the overall demand for microinjection polymer molding. The global market for microinjection polymer molding in automotive industry is expected to exceed USD 200 million by 2020.

Gather more insights about the market drivers, restrains and growth of the Global Polymer Microinjection Molding Market

Polymer Microinjection Molding Market Report Highlights

North America emerged as the leading market for microinjection polymer molding, accounting for more than 37.9% of the total market in 2023. Rapid technological advancement, mainly in the U.S. has been a key factor for market development. In addition, increasing healthcare expenditure is also expected to fuel the demand for microinjection molding market. North American micro molders gained the advantage of moving early into a high growth market eyeing a sustainable future

Rapid development of various micro technologies including microoptics and microfluidics mainly in Western Europe is expected to drive the market for microinjection polymer molding in Europe. Germany holds a major chunk in the European market for microinjection molding on account of increasing medical expenditure and country’s lead position in automobile manufacturing. Asia Pacific is still a large untapped market and hold immense opportunities in the years to come.

However, lack of awareness regarding the benefits offered using micro molded polymers mainly in under developed countries of Middle East, Africa, Latin America and South Asia is expected to hinder the market growth over the forecast period

Production of microinjection molded polymers is concentrated mainly in Europe and North America. Some of the major companies operating in the global market include Accu-Mold LLC, ALC Precision, American Precision Products, Makuta Technics, Micromolding Solution Inc., Precimold Incorporation, Rapidwerks, Stack Plastics Inc., Stamm AG and Sovrin Plastics among some other companies.

Key Polymer Microinjection Molding Company Insights

The market is fragmented with various global and regional product manufacturers releasing innovative systems and technologies. Various industry participants strategies typically involve new product development, product upgrades, and expansions to boost market penetration and respond to the changing technical needs of the application industries. The major players form technical partnerships to innovate and develop novel product lines, therefore expanding their consumer base. In addition, evolving consumer preferences along with quality requirements, as well as energy efficiency, are projected to offer new opportunities for key participants in the coming years.

In September 2023, Accumold pioneered an innovative method for micro injection molding of thin-wall cannulas at exceptionally high production rates. These delicate and slender cannulas hold crucial importance across a spectrum of medical uses, notably in reducing patient discomfort and enhancing medical procedures. Furthermore, with ongoing advancements in medical technology favoring miniaturization and minimally invasive approaches, the demand for small and thin-walled cannulas has become indispensable for cutting-edge medical devices.

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