IMARC Group, a leading market research company, has recently releases report titled “Thermoplastic Micro Molding Market Report by Material Type (Liquid Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polyphenylene Sulfide (PPS), and Others), End User (Automotive, Electronics, Medical, Packaging, and Others), and Region 2023-2028” The study provides a detailed analysis of the industry, including the global thermoplastic micro molding market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
Table of Contents
How big is the thermoplastic micro molding market?
The global thermoplastic micro molding market size reached US$ 969 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,861 Million by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2023-2028.
What is thermoplastic micro molding?
Thermoplastic micro molding is a specialized manufacturing process that produces extremely small plastic components with high precision. It involves heating a thermoplastic material to a molten state and injecting it into a micro-sized mold cavity, forming the mold and solidifying upon cooling. It is ideal for creating intricate and miniature plastic parts often employed in medical devices, electronics, and automotive industries. It can create complex geometries with tight tolerances in miniature sizes, typically ranging from micrometers to millimeters. Additionally, it enables the production of microfluidic devices, micro connectors, micro gears, and various other tiny components essential for advanced applications.
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What are the growth prospects and trends in the thermoplastic micro molding industry?
The thermoplastic micro molding market is primarily driven by the growing electronics industry. In addition, the rising product demand due to the need for small and precise components for products such as smartphones, wearables, and the Internet of Things (IoT) devices is augmenting the market growth. Moreover, several innovations in micro mold tooling, including micro-milling and electrical discharge machining (EDM), are improving the precision and efficiency of the molding process, representing another major growth-inducing factor. Besides this, the growing healthcare sector is driven by rapid advancements in medical devices, such as microfluidic devices, drug delivery systems, and surgical instruments, enabling the manufacturing of intricate components for these devices, thus propelling the market growth. Furthermore, the growing environmental concerns led to the widespread adoption of recyclable thermoplastics, and the micro molding process generates less waste compared to traditional manufacturing methods, making it an appealing option for sustainable production, thus creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Material Type:
- Liquid Crystal Polymer (LCP)
- Polyether Ether Ketone (PEEK)
- Polyphenylene Sulfide (PPS)
- Others
Breakup by End User:
- Automotive
- Electronics
- Medical
- Packaging
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Accumold
- Isometric Micro Molding Inc.
- MTD Micro Molding
- PRECIKAM INC
- Rapidwerks Inc.
- SMC Ltd.
- Sovrin Plastics Limited
- Springboard Manufacturing Solutions
- Veejay Plastic Injection Molding Company
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