Micro Injection Molded Plastic Global Market Is Expected To Grow At A Rate Of 12% Through 2023 – 2027
17 Jul, 2023
The global micro injection molded plastic market size is expected to grow from $0.95 billion in 2022 to $1.07 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The global micro injection molded plastic market size is expected to reach $1.70 billion in 2027 at a CAGR of 12.01%.
Global Micro Injection Molded Plastic Market Key Driver
Growth in the automotive industry is likely to take the micro injection moulded plastic market ahead. Automobiles, trucks, buses, vans, motorcycles, and golf carts are all examples of mobile machinery. In the automotive industry, microinjection moulding plastic is used to make small parts such as fenders, grilles, bumpers, door panels, floor rails, light housings, gears, housings, and connections. This is because of the increased demand for lightweight materials, precision parts, and increasingly complicated designs. Micro injection moulded plastic is used in electric vehicle electronic components such as the DC converter, all-electric auxiliary, electric traction motor, traction battery pack, and electric gearbox.
Get a sample of the global micro injection molded plastic market reportGlobal Micro Injection Molded Plastic Market Segments
The global micro injection molded plastic market 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
4) By Geography: The regions covered in the micro injection molded plastic market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global micro injection molded plastic market.
Major Micro Injection Molded Plastic Industry Players
Accumold LLC, Isometric Micro Molding Inc., Makuta Micro Molding (Makuta 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., American Precision Product, D&M Plastics LLC
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Micro Injection Molded Plastic Market Overview
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.
Micro Injection Molded Plastic Global Market Report 2023 provides data on the global micro injection molded plastic market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The micro injection molded plastic market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.