Dublin, Jan. 08, 2021 (GLOBE NEWSWIRE) -- The "Micro Injection Molding: Global Markets" report has been added to ResearchAndMarkets.com's offering.
The global micro injection molding market should grow from $904.3 million in 2020 to $1.6 billion by 2025, at a compound annual growth rate (CAGR) of 11.8% during the period of 2020-2025.
The North American micro injection molding market should grow from $330.6 million in 2020 to $579.8 million by 2025, at a CAGR of 11.9% during the period of 2020-2025.
The Asia-Pacific micro injection molding market should grow from $257.9 million in 2020 to $456.5 million by 2025, at a CAGR of 12.1% during the period of 2020-2025.
This report focuses on the growing use of micro injection molding and how the market is expected to perform in the coming years. The report provides in-depth knowledge of the micro injection molding market and the challenges faced by the various market players.
PE, or polyethylene thermoplastic material, is primarily being used for micro injection molding processes, especially in the healthcare segment. Surgeons and doctors use micro injection molded parts made up of PE and micro instruments to perform less-invasive procedures and offer swift recovery timed to patients. PEEK materials are estimated to be the fastest-growing type for the micro injection molding market. With devices moving toward more complex designs which are compact and offer high precision, manufacturers are investing in innovation, research and design activities in order to enhance minimally invasive device designs and reduce the size of various parts through micro molding, which is expected to fuel the demand over the forecast period.
The medical and healthcare segment held the largest market share in 2019 and is expected to be the fastest-growing end user segment during the forecast period. The growing use of advanced medical devices and micro parts for surgery coupled with the increasing trend of minimally invasive surgeries and the trend to offer more comfort to patients with implants and medical devices is fueling market growth during the forecast period. Additionally, medical components and devices which are manufactured with medical injection molding using durable, reliable medical grade plastic materials which and meet the FDA regulations are becoming more prominent.
Increasing use of micro molded precision parts in the automotive industry is also driving the market. Several types of high-precision plastic micro parts such as interior buttons, switches, clips and washers, micron-tolerance door lock components, gears and encoders for electronic modules, and electric motor components are widely used in the automotive industry. Due to growing automotive production and sales, there is a rise in demand for precision components such as switches, buttons, clips and knobs, which is further driving the micro injection molding market.
North America dominated the market share in the global micro injection molding industry, followed by the Asia-Pacific region. There is a rise in interest from manufacturers and designers to produce and procure micro-featured, high precision components and parts. Micro injection molding is capable of manufacturing billions of components and parts with constant and consistent precision. Micro-components are frequently smaller than a distinct of salt.
The goal of this study is to identify how the micro injection molding market is performing and what are the new and upcoming technologies in the market. It offers a detailed view of the market, which is further bifurcated by type and end user. This report provides current market values, expected market values in the next five years, average growth rates, drivers, restraints, and opportunities for the market.
Key Topics Covered:
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Background
Testing and Inspection
Micro Injection Molding Machines
Growing Number of Minimally Invasive Surgeries
Increasing Demand for Precision Parts in Automotive Industry
Lack of Expertise and Tool Adjustments
Increased Use of Robotics and Automation
Micro Injection Molding for the Healthcare Industry
Manufacturing of Medical Devices
Manufacturing of Consumables in the Healthcare Industry
Supply Chain Analysis
Chapter 4 Market Breakdown by Type
Polyether Ether Ketone
Chapter 5 Market Breakdown by End User
Medical and Healthcare
Telecom Fiber Optics
Micro Drive Systems and Control
Chapter 6 Market Breakdown by Region
Chapter 7 Competitive Analysis
Company Market Share
Chapter 8 Company Profiles
American Precision Products
Kamek Precision Tools/Precimold
Microdyne Plastics Inc.
Mtd Micro Molding
Precision Engineered Products LLC
Spectrum Plastics Group Inc.
Starlim Spritzguss GmbH
Thy Hong Yang Precision Industry Co. Ltd.
Chapter 9 Appendix: Glossary and Acronyms
For more information about this report visit https://www.researchandmarkets.com/r/l94ojr
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