The global in-mold electronics market was valued at US$ 95. 5million in 2019 and is projected to reach US$ 942. 6million by 2027; it is expected to grow at a CAGR of 44. 6% during 2020-2027. Increasing demand for wearable across various industrial applications is expected to provide lucrative growth opportunities to the in-mold electronics market , especially in developed countries, in the coming years.
New York, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In-Mold Electronics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Application, Ink Type" - https://www.reportlinker.com/p05988373/?utm_source=GNW
The wearable device manufacturers are increasingly looking for modern technologies in developing new products.
They are focusing on integrating electronic circuits and LEDs directly into plastic products by using in-mold electronics.The in-mold electronics technology could be utilized in manufacturing motorcycle helmets with advanced features such as tactile interface like a capacitive switch.
The driver could answer the phone or change the volume with a simple tap, without getting distracted.Embedded LED lights could also significantly increase their visibility on the road.
Thus, significant investments on R&D activities toward implementing in-mold electronics in wearable technology is expected to drive the market in the near future.
In the aerospace industry, where buttons and wires contribute to significant weight in common switches, the in-mold electronic technology eliminates these loads, providing significant weight reduction.It simplifies the design, makes the circuit part of the structure, thereby eliminating or reducing the extent of wiring, thus saving space and weight.
Additionally, there is a relatively high density of consumer electronic devices, such as smartphones, TV, and tablets, in North America, which would fuel the market for in-mold electronics technology in ten region.Likewise, the region is major hub for various automobile, as well as automobile component manufacturers.
The increasing adoption of electronic components in vehicles is anticipated to boost the demand for in-mold electronics technology from the manufacturers in the coming years.
The in-mold electronics market is segmented on the basis of ink type, application, and geography.Based on ink type, the market is segmented into silver conductive ink, carbon conductive ink, and others.
In 2019, the silver conductive ink segment held the largest share of the market .Based on application, the in-mold electronics market is segmented into automotive, building automation, consumer products, wearables, healthcare, and others.
Building automation is expected to be the fastest-growing segment in the market during the forecast period.Based on region, the in-mold electronics market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
In 2019, Europe held the largest market share, followed by North America and APAC. On the other hand, APAC is projected to be the fastest-growing market with a CAGR of 52.9% from 2020 to 2027. Despite the positive growth outlook, the ongoing COVID-19 outbreak, which is hindering the global economy negatively, is affecting the in-mold electronics business activities and company revenues worldwide.
The North America region especially the U.S. witnessed an unprecedented rise in number of confirmed cases resulting in large-scale lockdown across different regions as well as industrial activities. As a result, several small & medium enterprise owners have limited their industry personnel whereas many others have laid off non-essential employees shortly owing to restricted business operation. In addition to this, the company also minimized the allocated budget for manufacturing of electronics owing to economic slowdown, which affected the global nosiness activities. Moreover, the component manufacturer, supply chain and distributor lack of availability of business also has significantly influencing the production of electronics by the market players. Thus, the market is expected to witness a major drop in the demand from the end-users for the current year and the subsequent years to recover from the impact of COVID-19 pandemic.
Overall size of the in-mold electronics market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market .
The process also serves the purpose of obtaining an overview and forecast for the in-mold electronics market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts, and key opinion leaders, specializing in the in-mold electronics market . Butler Technologies, Inc., DuPont de Nemours, Inc., DuraTech Industries, Eastprint Incorporated, GenesInk, Golden Valley Products, InMold Solutions, Nissha Co., Ltd., TactoTek Oy, and YOMURA are among the key players profiled during this market study.
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