Polymer Microinjection Molding Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Polymer Microinjection Molding Market is Segmented By Material (Liquid Crystal, PolymerPolyether Ether Ketone, Polymethyl Methacrylate, Polyethylene, Polyoxymethylene, Polylactic Acid, Others), By Type (Insert / Lead Frame Molding, Others ), By End-User(Automotive, Medical & Healthcare, Telecommunications, Aerospace, Electronics, Others ), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024 - 2031

Polymer Microinjection Molding Market Overview

[220 pages] Report on Global Polymer Microinjection Molding by DataM Intelligence estimates the market to grow at a CAGR of 16.6% during the forecast period 2024 - 2031. Polymer Microinjection Molding usage in manufacturing products is on the rise. Demand from medical and automobile industry in North America is booming. Competitive rivalry intensifies with MTD Micro Molding, WestFall Technik, Makuta Technics Inc and others operating in the market.

Microinjection molding is a molding process that requires a specific molding machine with high injection pressure and speed, precise shot control, and ultra-fine resolution for molding small-sized tools and parts. This technique is used to develop small or micro products that require detailed specifications. Microinjection molding is usually done for the pieces designed with a weight of less than a milligram and a size of less than 1mm. The technique is not limited to only small parts but can be used for large products that require micro-sized features such as thickness, diameter hole, etc.  Polymer is one of the critical materials used in this micro molding process. Polymer is commonly used for manufacturing products with ultra-fine molding resolution. Therefore, polymer microinjection molding is used in a wide range of industrial applications globally.

The demand for polymer microinjection molding has been growing with rapid technological development and demand growth. There is an expansion in bioabsorbable polymers in micro-injection molding. Bioabsorbable materials are generally applicable in modern healthcare. Since these polymers may be dissolved and absorbed by a human organism, their use lowers the number of surgical interventions needed for specific treatments. Polymer-based micro molded products find applications in almost all application areas where silicones are used.

Polymer Microinjection Molding Market Scope and Summary

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Source: DataM Intelligence Analysis (2023)

Polymer Microinjection Molding Market Dynamics and Trends

The global polymer microinjection molding market growth is driven by the rise in demand for small-sized components in numerous industries.

The rise in demand for small-sized components in numerous industries

The surge in demand for miniature materials for various applications drives the polymer microinjection market. The need for small details from different end-user verticals such as the automotive, healthcare, and electronics industries, especially in developing economies, will positively impact the market’s growth rate.

Since modern electronic devices are becoming compact, there is a likely need for high precision and complexity in this sector. Micro molding benefits are exploited in several electronics component manufacturing. Micro-optics is one of the examples (manufacturing laser-based devices, lenses, prisms, and smartphones, among others). Moreover, the microelectronic components such as connectors, plugs, computer chips, switches, etc., for computers, communication technologies, musical devices, and other microelectronics fields have extensively grown the demand from the market.

Microinjection molding is famous for manufacturing automobile components that require small and light elements. Micro molding is utilized for under-the-hood parts (e.g., engine, breaks) of a vehicle and for several other components relevant to the automotive industry, such as washers, different clips, door locking mechanism parts,  buttons, switches, and microplastic gear manufacturing since the industry is vast and requires many micro factors.

The field of medicine requires extreme accuracy in most of the processes. Therefore, the medical instruments utilized must be small and highly sophisticated in many cases. Thus, micro molding is extensively used in medical device manufacturing: catheters, drug delivery devices, diagnostic systems, optical and hearing aid components, etc. and is highly relevant for the instruments of invasive surgeries. These scenarios are expected to surge the global demand for the polymer microinjection molding market.

High cost of packaging and micro-assembly

Packaging and micro-assembly cost contains a big part of the overall cost of any micro-scaled product. It is an essential part of developing a microscopic product as efficient packaging and assembly are crucial to successful outcomes in the marketplace. The main reason for the cost of assembly and packaging of micro-scaled products is the lack of automation in these operations.

Most micro-assembly necessitates operators to manually select and insert small parts utilizing powerful microscopes and micro-tweezers. Manual assembly is notably expensive and takes much time. Operators assembling such micro-scaled parts experience the tension on the eye strain, have strict requirements for the final product, and achieve the required quality of its quality. Several specific tools and equipment are needed for this process to make micro-assembly easier and much quicker.

COVID-19 Impact on Polymer Microinjection Molding Market

Due to the pandemic, stakeholders across the polymer microinjection molding industry have seen a notable impact as all the production work, factories, and other activities were closed. The level of conditioning was low, and various project schedules were postponed. Due to interruptions, end-users began delaying non-essential purchases and disengaged from the consuming processes, lowering the demand for insulating materials. The need for microinjection molding materials has encountered a downfall in numerous industries, including electronics, automotive, aerospace, etc. On the contrary, the market has witnessed a positive demand from the healthcare industry due to its essential applications such as drug delivery devices, diagnostic systems, optical, hearing aid components, and others.

After the pandemic, the governments still impose various restrictions, such as restrictions on operating hours from the industries and fewer operating hours hindering the production cycle of the market. However, the market is expected to recover after the pandemic, with sectors aiming to work with higher production rates to recover from the incorporated losses.

Polymer Microinjection Molding Market Segmentation Analysis

By end-user, the polymer microinjection molding market is classified into automotive, medical & healthcare, telecommunications, aerospace, electronics, and others.

The polymer microinjection molding market in medical & healthcare is expected to grow at the fastest CAGR during the forecast period (2024-2031)

Medical & healthcare is expected to hold a significant share of the high-temperature insulation market in the forecast period. The necessity for small parts is widespread in the medical industry for applications such as endoscopic devices, surgical devices, catheters, testing devices, diabetes-management tools, and electronic components. Microparts are required for microfluidics and pharmaceutical applications, including blood collection tubes, drug delivery devices, syringes, and IV parts. The need for miniaturization is exceptionally high for medical devices, and the market for micro parts in medicine is continuing to expand. Micro injection molding help meet the growing demand for minimally invasive curative and diagnostic procedures, providing patients and medical service delivery organizations with lessening operation and recovery times and increasing diagnosis accuracy. The parts help medical device manufacturers design smaller components with thinner walls and more complex and minute features.

Various leading companies have been coming up with innovations and expanding their capacity to cope with the demand from the healthcare industry. For instance, in 2017, MTD Micro Molding, a microinjection molding provider for the medical device industry, made a significant investment to increase its overmolding services. As part of this investment, they acquired a vertical injection molding machine designed and customized for higher-capacity overmolding.

Source: DataM Intelligence Analysis (2023)

Global Polymer Microinjection Molding Market Geographical Share

North American region holds the largest market for global polymer microinjection molding globally

North America region holds the largest market for the polymer microinjection molding market globally and is expected to continue its dominance in the forecast period. The region has been dominating with growing consumption of small-sized products in numerous end-use industries such as medical, automotive, telecom, etc. The device manufacturers and end-use industries have adopted the micro-molding concept in the region. The medical and automobile industry accounted for the major consumption of micro-molded parts. Component manufacturers are now focusing on developing polymer micro molded products to leverage the cost benefits of the process. Due to biodegradable polymer availability, the need for polymer devices from the medical industry has expanded over the last few years.

Various leading companies have been focusing on expanding the production capacity of high-temperature insulation materials to cater to the need of the industries. In 2021, RenyMed, an integrated molding and tooling supplier to the medical device industry, joined a Secondary Operations Center for medical component decorating and additional equipment and employees at its ISO 13485-certified operation in Baldwin Park, California. Renamed has expanded its capabilities with precision micro-molding with a new 30-ton Sumitomo micro-injection molding machine. Moreover, in 2021, MTD Micro Molding celebrated the opening of its expanded medical micro injection molding facility. While the expansion exterior was completed, doubling the manufacturing space and adding equipment and new cutting-edge machinery.

Source: DataM Intelligence Analysis (2023)

Polymer Microinjection Molding Companies and Competitive Landscape

The polymer microinjection molding market is highly competitive with the local player’s presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the market’s growth are Rolla AG, RenyMed, Alba Enterprises LLC, MTD Micro Molding, Mircromolds, WestFall Technik, Makuta Technics Inc, Veejay Plastic, Sovrin Plastics, Accu-Mold LLC, Stamm AG, Micromold Inc., Precimold Inc., and others. The major players are adopting various new strategies to dominate the market, such as launching new products, acquisitions, and collaborations, contributing to the global growth of the polymer microinjection molding market.

Armacell

Overview: ALBA Enterprises focuses on providing valuable products and services to the plastic injection molding industry. In November 2018, ALBA merged operations with ROI Rich Oles Industries.

Product Portfolio: The Company offers ALBA sells IMM-dedicated hydraulic cylinders from Vega and ALBA Quick Release Knockout Couplers, micro-injection molding machines from Babyplast, and selected mold components.

Key Development: In 2021, Alba Enterprises LLC announced moving to Colorado from California, adding workers, in-house mold sampling on micro molding injection, and 3D modeling.

Why Purchase the Report?

• Visualize the segmentation of the polymer microinjection molding market by material, type, end-user, and region, highlighting the key commercial assets and players.
• Identify commercial opportunities in polymer microinjection molding by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of polymer microinjection molding market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global polymer microinjection molding market report would provide approximately 59 market data tables, 61 figures, and 220 pages.

Target Audience 2024

• Automotive Manufacturers
• Electronics companies
• Microinjection manufacturers
• Polymer Companies
• Construction Companies
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals