Micro Injection Molded Plastic Market - By Material Type (Liquid-crystal polymer, Polyether ether ketone, Polycarbonate, Polyethylene, Polyoxymethylene), By Application (Medical and Healthcare, Automotive, Electronics, Telecommunications, A&D) & Forecast, 2024 – 2032

Micro Injection Molded Plastic Market Size

Micro Injection Molded Plastic Market was valued at USD 1.2 billion in 2023 and is anticipated to register a CAGR of over 11% between 2024 and 2032. As electronic devices become smaller and more compact, there is a growing need for micro-molded plastic components to fit within tight spaces. This includes components for smartphones, wearable devices, medical devices, and more.
 

The medical and healthcare industry relies on micro-injection molding for the production of precise and sterile components such as syringe barrels, catheters, and other medical devices. The demand for such products continues to rise with the aging global population and advancements in medical technology. The automotive industry uses micro-injection molding for producing small and intricate parts, including connectors, sensors, and interior components. As vehicles become more sophisticated with advanced electronics and sensors, the demand for micro-molded plastic parts increases.
 

Setting up the tooling and molds for micro-injection molding can be expensive, especially for small production runs. This initial cost can be a barrier for small and medium-sized enterprises (SME) and startups. The choice of the right material is crucial for micro-injection molding. Finding materials that meet the stringent requirements for micro-sized components can be challenging.
 

COVID-19 Impact

The demand for micro injection molded plastic components varied across industries during the pandemic. While there was increased demand for medical devices and protective equipment, other industries, such as automotive and consumer electronics, experienced reduced demand. Many manufacturers of micro injection molded plastic components had to reduce or halt production temporarily due to health and safety concerns for their workers. This led to a decrease in the supply of micro-molded products.
 

Micro Injection Molded Plastic Market Trends

The trend of miniaturization in various industries, including electronics, medical devices, and automotive, is driving the demand for micro injection molded plastic components. As products become smaller and more complex, the need for precise, small plastic parts continues to grow.
 

The medical and healthcare sector is a significant driver of the micro injection molded plastic industry. The demand for micro-molded components for medical devices, diagnostics, and drug delivery systems is rising due to advancements in healthcare technology and an aging population. Advancements in polymer technology have led to the development of high-performance materials suitable for micro injection molding. These materials offer enhanced mechanical properties, biocompatibility, and resistance to extreme conditions, expanding the range of applications.
 

Micro Injection Molded Plastic Market Analysis

Based on material type, the market is divided into Liquid-crystal polymer (LCP), Polyether ether ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM), Others. Polycarbonate held the dominant market share of USD 0.3 billion in 2022. Polycarbonate is known for its optical clarity and high light transmission properties, making it ideal for applications where transparency is essential, such as optical components, lenses, and displays. The exceptional impact resistance of polycarbonate is a significant driver for its use in industries such as consumer electronics, automotive, and medical devices, where durable and shatter-resistant components are needed.
 

Based on application, the market is categorized into medical and healthcare, automotive, electronics, telecommunications, aerospace and defense, others. Medical and healthcare accounted for over 45% market share in 2022 and is projected to grow through 2032. The trend towards smaller, minimally invasive medical devices and drug delivery systems creates a strong demand for micro injection molded components. The medical sector demands materials that are biocompatible and safe for use in implantable devices and diagnostic equipment.
 

North America dominated the global micro injection molded plastic market in 2022. Within North America, the U.S. generated a revenue of over USD 0.2 billion in 2022 The aging population in North America drives the demand for medical devices, diagnostics, and drug delivery systems, which often rely on micro injection molded components. North America is a major center for technology and electronics innovation, leading to increased demand for micro injection molded plastic components in applications like smartphones, wearable technology, and other electronic devices.
 

Micro Injection Molded Plastic Market Share

Major players operating in the micro injection molded plastic industry include:

• 3M
• Isometric Micro Molding, Inc.
• MTD Micro Molding
• Sil-Pro, LLC
• Makuta Technics Inc.
• BMP Medical
• Rapidwerks

BASF SE and Isometric Micro Molding, Inc.are dominant players in the micro injection molded plastic business due to their vast product portfolio. BASFs ecosystem integration, along with consistent innovation, have attracted millions of customers. Their brand recognition and exclusive content deals solidify their leadership in the highly competitive market.
 

Micro Injection Molded Plastic Industry News

• In June 2023, In June 2021, Company acquired KCS Plastics LTD. Based in Langley, British Columbia, KCS Plastics offers complete polyethylene packaging solutions for customers across Canada and the United States. Spectrum Plastics Group Adds Blown Films Capacity and New Capabilities with Acquisition of KCS Plastics LTD.
   
• In December 2020, Spectrum Plastics Group Acquires PeelMaster. The company has now increased the sterile medical flexible packaging capabilities with its acquisition of Peel Master Medical Packaging Co
   

The micro injection molded plastic market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2018 to 2032, for the following segments:

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Market, by material type

• Liquid-crystal polymer (LCP)
• Polyether ether ketone (PEEK)
• Polycarbonate (PC)
• Polyethylene (PE)
• Polyoxymethylene (POM)
• Others

Market, by application

• Medical and Healthcare
• Automotive
• Electronics
• Telecommunications
• Aerospace and Defense
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia