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Micro Injection Molding Machine Market Size is Surge at USD 1017.85 Million by 2031 With CAGR of 10.6% | Rising Demand in Medical & Electronics Industries

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In 2023, the Micro Injection Molding Machine Market Size was valued at USD 454.61 million. It is projected to reach USD 1017.85 million by 2030.

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Some of Major Key Players in this Report:

  • Arburg GmbH + Co KG
  • Haitian International Holdings Limited
  • Milacron
  • Nissei Plastic Industrial Co., Limited
  • Engel Austria GmbH
  • Sumitomo (SHI) Demag Plastics Machinery GmbH
  • Chen Hsong Holdings Limited
  • Toyo Machinery & Metal Co.

The micro injection molding machine market is driven by two main engines the expanding automotive sector and the ever-expanding medical field.

In the automotive industry, where miniaturization and lightweight components are king, micro injection molding shines. It’s the go-to technique for crafting intricate interior parts like buttons, switches, and gears for electronic modules. This translates to a significant demand for micro injection molding machines, expected to rise alongside the overall automobile market, particularly in emerging economies with growing populations embracing personal vehicles. On the medical front, the trend towards minimally invasive procedures is a boon for this technology. Micro-injection molded components are crucial for delicate medical devices like microfluidic chips and catheters used in these procedures.

According to SNS Insider this translates to longer lead times and higher upfront costs compared to traditional injection molding, with estimates suggesting tooling can be three to five times more expensive.

The miniscule size of the parts and delicate material flow present another obstacle. Ensuring uniform cooling and proper plastic flow within the mold is crucial to prevent defects and maintain consistent part quality.  This necessitates highly skilled operators who can not only manage the complex machinery but also possess a deep understanding of material properties at the micro-scale. While the demand for skilled labor is a challenge across many industries, the specialized knowledge required for micro injection molding can be particularly difficult to find, especially in developed economies.

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Opportunity Analysis:

  • A recent study found that 63%of manufacturers anticipate an increase in demand for micro-molded parts in the next three years, particularly for microlens arrays used in automotive LiDAR systems.

This trend is driven by the growing adoption of autonomous vehicles, expected to reach a global market of 1.3 million units by 2031. Additionally, the rising popularity of microfluidics in lab-on-a-chip devices for medical diagnostics creates an opportunity for micro injection molding machines. SNS insider report suggests that the global microfluidics market will reach USD 35.2 billion by 2031, highlighting the vast potential for micro-molded components in this domain. Moreover, the increasing miniaturization of electronics for wearables and Internet-of-Things (IoT) devices presents another significant growth avenue.

Key Segment Analysis:

The 30–40-ton sub-segment dominates, capturing the largest market share. This dominance stems from the surging demand for micro-molded parts across various industries. In the automotive sector, intricate sensors and lightweight components benefit from this technology. Similarly, the medical field utilizes 30–40-ton machines to produce microfluidic devices for diagnostics and micro-needles for drug delivery. Electronics are another major driver, with connectors and micro-encapsulations relying on this clamping force range for precise molding.

While North America currently holds the largest market share, driven by established medical device and electronics industries, the Asia Pacific region is poised for explosive growth.

Rapid industrialization in countries like China and India is creating a booming demand for micro-molded components in electronics and automotive sectors. Additionally, these regions boast a growing healthcare sector with an increasing need for miniaturized medical devices like microfluidic chips and drug delivery systems. Government initiatives promoting domestic manufacturing and technological advancements further accelerate this growth. European markets, though mature, are witnessing a resurgence in micro injection molding due to a focus on high-precision manufacturing for aerospace, medical, and luxury goods industries.

Recent Developments:

In November 2021, QNES Global entered the scene with a novel micro injection molding machine featuring a miniaturized grinder, aiming to enhance convenience and production capacity for smaller parts. This focus on compact design reflects the growing demand for micro-sized, intricate components.

Established leader Engel Austria GmbH isn’t sitting idle. In 2022, they invested heavily in expanding their robot production plant, hinting at potential future automation advancements specifically tailored for micro injection molding. Meanwhile, medical device manufacturers are driving innovation.

Paragon Medical, a major player, strategically partnered with 3D Systems in March 2023 to incorporate additive manufacturing capabilities, potentially opening doors for integrating 3D printing with micro injection molding for complex medical parts.

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Key Takeaways:

  • The medical and automotive industries are at the forefront of this miniaturization push. In the medical field, the shift towards nanotechnology and smaller, more intricate devices necessitates extremely accurate molds for procedures.
  • The automotive industry, particularly the electric vehicle segment, relies on micro-molded plastic parts for various electronic components like DC converters and electric traction motors. These tiny, complex parts are crucial for electric vehicle manufacturing and are efficiently produced using micro injection molding machines.
  • Interestingly, the 30-to-40-ton clamping force segment is projected to be the fastest-growing within the micro injection molding machine market, indicating a rising demand for micro molded parts across various applications.

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we’re proud to be recognized as one of the world’s top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

Contact Us:

Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

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