What are the Historical Developments and Current Growth Metrics of the Micro Injection Molded Plastic Market?
The micro injection molded plastic market has seen considerable growth due to a variety of factors.
•In the last few years, there has been a swift increase in the size of the micro injection molded plastic market. The market value is forecasted to raise from $1.2 billion in 2024 to $1.35 billion in 2025, with a compound annual growth rate (CAGR) of 12.4%.
This considerable growth during the historic period is largely due to factors such as the use of automotive lubricants, metalworking fluids, rubber processing, a surge in textile applications, plasticizers production, and metal protection.
What Does Future Hold for The Micro Injection Molded Plastic Market Size?
The micro injection molded plastic market is expected to maintain its strong growth trajectory in upcoming years.
• The market for micro injection molded plastic is projected to expand swiftly in the forthcoming years, reaching a worth of $2.16 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 12.4%.
The projected growth during this period can be linked to the rising automotive industry, surging demand for specialist lubricants, expansion of the metalworking industry, growing acceptance of bio-based plastics, and proliferation in textile manufacturing. Key trends for the forecast period comprise advancements in production technology, market amalgamation and strategic partnerships, adoption of bio-based plastics, developments in grease formulations, and the rise of sustainable and bio-based alternatives.
What Are The Key Drivers Fueling Growth In The Micro Injection Molded Plastic Market?
The micro injection molded plastic market is anticipated to expand due to the predicted growth in the automotive sector. Automotive encompasses all types of mobile vehicles such as cars, trucks, buses, vans, motorbikes, and even golf carts. In the manufacturing of these vehicles, microinjection molding plastic plays a crucial role by producing minute parts such as fenders, grilles, bumpers, door panels, floor rails, light housings, gears, housings, and connectors. The reasons for this range from the need for lighter components to the demand for high-precision parts and intricate designs. Likewise, in the production of electric vehicles, electronic parts such as the DC converter, all-electric auxiliary, electric traction motor, traction battery pack, and electric gearbox also employ micro injection molded plastic. As per the European Automobile Manufacturers Association (ACEA), a Belgium-based automobile industry group, over 68 million passenger cars were manufactured worldwide in 2022, experiencing a 7.9% increase from the previous year. Similarly, data from the U.S. Environmental Protection Agency, a US government body, showed that production shares of electric vehicles, plug-in hybrid vehicles, and fuel cell electric vehicles rose from 4% in 2021 to 7% in 2022. The ongoing projections suggest a further surge to 12% by 2023. As a result, the growth in the automotive sector is fueling the demand for micro injection molded plastic.
What Are The Principal Market Segments In The Global Micro Injection Molded Plastic Industry?
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
Subsegments:
1) By Liquid-Crystal Polymer (LCP): Filled LCP, Unfilled LCP
2) By Polyether Ether Ketone (PEEK): Glass-Filled PEEK, Carbon-Filled PEEK, Unfilled PEEK
3) By Polycarbonate (PC): Impact-Resistant PC, Optical Grade PC, Flame-Retardant PC
4) By Polyethylene (PE): High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE)
5) By Polyoxymethylene (POM): Homopolymer POM, Copolymer POM
6) By Polymethyl Methacrylate (PMMA): Extruded PMMA, Cast PMMA
7) By Polyetherimide (PEI): Unfilled PEI, Glass-Filled PEI
8) By Polybutylene Terephthalate (PBT): Glass-Filled PBT, Unfilled PBT
9) By Other Types: Specialty Plastics, Biodegradable Plastics
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Which Emerging Market Trends Are Altering The Micro Injection Molded Plastic Sector?
Advancements in product formulation are the primary emerging tendencies that are capturing attention in the micro injection molded plastic market. Predominantly, market leaders are dedicating their focus on devising inventive technologies like automation technologies which include robotic arms, vision systems, automated quality control systems, and state-of-the-art materials. For example, Omega Plastics, an injection molding solutions firm based in India, introduced a specialized demag machinery in February 2022. This equipment aids intricate mold designs and enhances production adaptability. It paves the way for the smallest screw to process traditional thermoplastic pellets with shot weights varying from 0.1g to 9g within a 14mm thickness. It allows clientele to construct components that meet stringent dimensional accuracy requisites of a micron or even less while simplifying the process of achieving reduced shot weights and precision control.
Who Are the Key Players in the Micro Injection Molded Plastic Market?
Major companies operating in the micro injection molded plastic market include:
• 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
• 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.
What are the Regional Insights into the Micro Injection Molded Plastic Market?
Asia-Pacific was the largest region in the micro injection molded plastic market in 2024. 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
