The globalPolymer Microinjection Molding marketis forecast to reach USD 2.16 Billion by 2027, according to a new report by Reports and Data. Polymer microinjection polymers are mainly used in the manufacture of products of small size that usually require ultra-fine molding resolution. Applications such as Microdrive system, automobile, medical healthcare, mobile fiber optics, Microdrive system, and others are commonly used. Rising demand for miniature materials is expected to drive growth for the market over the years for multiple applications in end-use industries such as electronics, telecommunications, automotive, and medical.
Increasing demand for polymer microinjection molding from the medical and healthcare industry is a crucial driver for market growth, as it is used in catheter parts, implants, blade holders, dental prostheses, and hearing aids. Probable uses for polymer microinjection molding are supposed to be microfluidics and micro-optics. In the coming years, growing demand for micro fluids and optics are expected to open up novel opportunities for market players. Nevertheless, likely, the lack of knowledge of micro molding and its high costs in developing regions would serve as a significant constraint in the growth of the global microinjection molding market.
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The new trend towards replacing phthalate-containing polymers such as PVC with thermoplastics combined with the growing demand for micro-materials has spurred the use of micro molding. The process takes relatively less time to mold the components. It uses feedstock at low prices. However, lack of awareness of the benefits offered by micro molding is expected to impede market growth over the years, mainly in underdeveloped countries.
Key participants include Accu-Mold LLC, ALC Precision, Stamm AG, Sovrin Plastics, American Precision Products, Makuta Technies Inc., Micromolding Solution Inc., Stack Plastic Inc., Precimold Incorporation, and Rapidwerks, among others.
The COVID-19 impact:
With the slowdown in global economic growth, the Polymer Microinjection Molding industry also suffered some impact but maintained a relatively positive performance; analysts believe that the size of the market will be further expanded in the next few years. The pandemic's debilitating effect has delayed demand resumption, both domestic and overseas. But by the end of the crisis, it is anticipated that the sale for polymer microinjection molding would rise because of more demand in the healthcare sector. The market due to high demand in the medical segment is anticipated to boom. The need for masks, shields, and various equipment has increased the market.
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Further key findings from the report suggest
- Medical and healthcare applications dominated the market and represented 35.3% of the total market in 2019. The rapid evolution of microfluidics technology, mainly in North America and Europe, is expected to drive the market in the medical healthcare segment over the forecast period.
- Molded products slowly replaced machined components that have traditionally been used in the industry. The rising trend of small devices, coupled with the increasing number of minimally invasive surgeries per day, has boosted demand from medical device manufacturers for micro-sized parts. Cost reductions are the main advantage of microinjection molding.
- North America emerged as the leading market, followed by Europe. U.S. application growth has been a critical factor for the penetration of micro molded polymer in the field.
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For the purpose of this report, Reports and Data have segmented into the global Polymer Microinjection Molding market on the basis of type, product type, application, and region:
Type Outlook (Revenue, USD Billion; n2017-2027)
- Polyether Ether Ketone
- Polymethyl methacrylate
- Polyethylene
- Polyoxymethylene
- Liquid Crystal Polymer
- Polylactic Acid
Application Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Medical Healthcare
- Telecom Fiber Optics
- Micro Drive System Control
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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