Molded Interconnect Device Market Size - By Process Segment (Laser Direct Structuring, 2-Shot Molding, Film Techniques), By Product Type (Antennae & Connectivity Modules, Connectors & Switches, Sensors, Lighting), By Industry Vertical & Forecast, 2024 - 2032

Molded Interconnect Device Market Size

Molded Interconnect Device Market size was valued at USD 1.65 billion in 2023 and is anticipated to grow at a CAGR of over 10% between 2024 and 2032, driven by the surging demand for compact electronic devices. MIDs facilitate the merging of mechanical and electronic functions into a singular 3D component, empowering manufacturers to craft smaller, more efficient devices. This trend of miniaturization is prominently seen in sectors like consumer electronics, automotive, and medical devices, where optimizing space is paramount.
 

Technological advancements, including Laser Direct Structuring (LDS) and Two-Shot Molding, have transformed the MID manufacturing landscape. According to a report by the International Trade Administration, these innovations offer precision, flexibility, and cost savings in crafting intricate circuit patterns on 3D surfaces. For instance, LDS facilitates both rapid prototyping and mass production of MIDs featuring complex geometries. Consequently, manufacturers can swiftly produce high-quality MIDs customized for distinct applications, fueling market growth through enhanced design innovation and expedited time-to-market.
 

As the automotive industry leans more on advanced electronics for safety, entertainment, and connectivity, the demand for MIDs has surged. MIDs find applications in sensor housings, lighting systems, and infotainment modules. Their capacity to consolidate multiple functions into a single, robust component suits the automotive industry's demanding environment. Moreover, the industry's shift towards electric and autonomous vehicles, which depend on advanced electronic systems, amplifies the demand for MIDs, driving market growth.
 

Setting up MID manufacturing processes entails significant initial costs. These expenses encompass advanced equipment, including laser systems and specialized molding machines, alongside costs for developing and validating new designs. Moreover, integrating circuitry into intricate 3D shapes demands precise engineering and stringent quality control, further escalating costs. For numerous companies, particularly smaller entities or those unfamiliar with the technology, these steep upfront expenses pose a considerable entry barrier. This limitation not only curtails their ability to embrace or invest in MID technology but also dampens market growth by restricting access and amplifying financial risks for potential adopters.
 

Molded Interconnect Device Market Trends

Advanced technologies like the Internet of Things (IoT) and artificial intelligence (AI) are increasingly being integrated into the molded interconnect device (MID) industry. As the appetite for smarter, interconnected devices surges, MIDs play a pivotal role in boosting functionality and ensuring smooth communication in electronic systems.
 

For example, smart sensors and wearable devices are now embedding MIDs, facilitating efficient data processing and real-time connectivity. This synergy not only elevates device performance but also fuels innovation across diverse sectors, notably automotive, healthcare, and consumer electronics. For instance, Molex recently launched a new series of MID-based antennas designed to enhance connectivity in IoT applications, underscoring the growing importance of MIDs in advancing technological capabilities.
 

Driven by heightened environmental responsibility and regulatory compliance, the MID market is increasingly leaning towards sustainability. Manufacturers are prioritizing the creation of eco-friendly MIDs, aiming to reduce material usage and integrate recyclable or biodegradable components. Furthermore, the industry's commitment to greener solutions is evident in its embrace of energy-efficient manufacturing processes and technologies, all designed to curtail waste and lessen the environmental footprint. This movement not only resonates with global sustainability initiatives but also boosts the market's allure to eco-conscious consumers and businesses.
 

Molded Interconnect Device Market Analysis

Based on process segment, the market is divided into laser direct structuring, 2-shot molding, film techniques. The laser direct structuring segment is expected to reach a value of over USD 1.6 billion by 2032.
 

• The Laser Direct Structuring (LDS) process segment holds a prominent position in the market, thanks to its precision and adaptability. The LDS process employs a laser to outline circuit paths on a thermoplastic substrate, subsequently plating it with a conductive material. This technique facilitates the crafting of intricate 3D circuit designs, making it a top choice for applications demanding precision and miniaturization. Industries like automotive, telecommunications, and consumer electronics, which prioritize compact and multifunctional components, have shown a strong preference for LDS. Moreover, LDS's capability to support both rapid prototyping and mass production amplifies its appeal, leading to its extensive adoption in the market.
   
• The 2-shot molding process segment plays a pivotal role in the MID market, celebrated for its capability to meld multiple materials into a unified component. This technique first molds a thermoplastic substrate and subsequently overlays it with a second material, which can serve either a functional or decorative purpose. The 2-shot molding method not only enhances the mechanical and aesthetic attributes of parts but is also tailored for sectors like automotive, medical, and consumer goods. A standout benefit of 2-shot molding is its proficiency in crafting components with intricate geometries and diverse functionalities, all without necessitating extra assembly steps. This efficiency not only trims production costs but also bolsters product reliability.
   

Based on product type, the molded interconnect device market is divided into antennae & connectivity modules, connectors & switches, sensors, lighting, and others. The connectors & switches segment is the fastest growing segment with a CAGR of over 11.5% between 2024 and 2032.
 

• Antennae and Connectivity Modules hold a prominent position in the market, driven by the surging demand for wireless communication and connectivity solutions. MIDs enable the integration of compact and efficient antennae and connectivity modules within electronic devices, facilitating seamless data transmission and communication. This segment is particularly crucial in the automotive, telecommunications, and consumer electronics sectors, where reliable and high-performance connectivity is essential. The growing adoption of IoT devices and the expansion of 5G networks further propel the demand for advanced antennae and connectivity modules, underscoring the significance of MIDs in enhancing the performance and miniaturization of these components.
   
• Connectors & Switches are pivotal in the MID market, delivering robust interconnect solutions for diverse electronic applications. MIDs in this segment not only offer enhanced design flexibility but also enable the integration of intricate circuitry within compact connectors and switches. This advantage is particularly pronounced in the automotive, industrial, and consumer electronics sectors, where high-density interconnects and space-saving designs are paramount. Furthermore, MIDs' capability to accommodate complex geometries and multifunctional designs boosts the performance and reliability of connectors and switches, making them increasingly favored in demanding environments. With the growing sophistication of electronic devices, the demand for advanced MID-based connectors and switches are set to surge.
   

North America dominated the global molded interconnect device market in 2023, accounting for a share of over 38%. The market is driven by robust technological advancements and high demand from various industries such as automotive, consumer electronics, and healthcare. The region boasts a strong presence of key market players and advanced manufacturing infrastructure, which facilitates the adoption of MID technology.
 

The increasing trend towards miniaturization and the integration of advanced electronic components in automotive and medical devices further propels the market. Additionally, supportive government policies and substantial R&D investments contribute to the growth and innovation within the market in North America, ensuring its continued expansion and development.
 

India molded interconnect device (MID) market is experiencing rapid growth, fueled by the nation's burgeoning electronics manufacturing and automotive sectors. Initiatives like "Make in India" and a surge in foreign direct investments (FDI) underscore the government's commitment to fostering technological advancement. The escalating demand for consumer electronics, alongside the deeper integration of smartphones and IoT devices, amplifies the need for MIDs. While challenges such as infrastructure constraints and early-stage technological development persist, the potential for growth in India's market remains significant.
 

The China molded interconnect device market stands as a dominant player, leveraging extensive manufacturing capabilities and a strong electronics sector. The nation's emphasis on technological innovation, bolstered by supportive government policies and significant R&D investments, propels the swift adoption of MIDs. Demand is primarily driven by key sectors such as automotive, consumer electronics, and telecommunications, especially with the swift expansion of 5G networks.
 

The South Korea MID market is experiencing significant growth, driven by the nation's leadership in electronics and semiconductor manufacturing. Industries such as automotive, consumer electronics, and telecommunications are increasingly adopting MIDs due to a strong emphasis on innovation and advanced technology integration. South Korea's commitment to developing smart technologies and substantial investments in R&D further support market expansion.
 

The Japan molded interconnect device (MID) industry is well-established, characterized by technological sophistication and robust industrial capabilities. The nation's emphasis on precision manufacturing and miniaturization aligns seamlessly with the benefits of MID technology.
 

Molded Interconnect Device Market Share

Leading entities in the molded interconnect device (MID) industry are prioritizing innovation and technological advancements to secure their competitive advantage. They are allocating substantial investments to research and development, aiming to enhance the capabilities and applications of MIDs, particularly in high-growth sectors such as automotive, consumer electronics, and healthcare. To expand their market presence and leverage complementary technologies, these entities are actively engaging in strategic partnerships and collaborations.
 

Furthermore, there is a strong emphasis on sustainable manufacturing practices, driven by stringent environmental regulations and increasing consumer demand for eco-friendly products. Their strategic initiatives also include geographical expansion into emerging markets, coupled with tailored solutions to meet specific industry requirements. To ensure consistent quality and performance, many of these entities are adopting advanced manufacturing processes such as Laser Direct Structuring (LDS) and 2-shot molding.
 

Molded Interconnect Device Market Companies

Major players operating in the molded interconnect device industry are:

• TE Connectivity
• Mitsubishi Engineering-Plastics Corporation
• GALTRONICS
• Molex LLC
• RTP Company
• BASF
   

Molded Interconnect Device Industry News

• In November 2023, NextFlex announced $6.49 million in funding for seven Flexible Hybrid Electronics (FHE) projects, focusing on sustainable manufacturing, advanced semiconductor packaging, and additive processes. Notably, Auburn University is developing in-mold flexible electronics, advancing the potential for Molded Interconnect Devices (MID).
   
• In August 2023, Molex secured a prestigious China Industry Award for its enhanced high-speed connectors, highlighting its innovation in connectivity solutions. Molded Interconnect Devices play a crucial role in such advancements by integrating mechanical and electronic functions within a single component, offering superior miniaturization, flexibility, and reliability. Molex’s use of MID technology enables the creation of compact, high-performance connectors that meet the demands of modern electronic systems, thereby enhancing their market leadership in high-speed data transmission solutions.
   
• In July 2022, TE Connectivity (TE) acquired Linx Technologies, a leading RF components supplier, to bolster its IoT market presence. This acquisition enhances TE’s portfolio in wireless connectivity, especially in antennas and RF connectors. Molded Interconnect Devices (MIDs) are crucial in this context, as they integrate mechanical and electronic functions, enabling TE to create more compact and efficient IoT solutions, thus strengthening their market leadership.
• In January 2022, Tide Rock Holdings acquired Plastic Molding Technology (PMT), enhancing its injection molding portfolio, which includes companies like Pikes Peak Plastics and Altratek. This acquisition strengthens Tide Rock’s capabilities in producing precision-engineered plastic components for various industries, potentially advancing Molded Interconnect Device (MID) technology.
   

The molded interconnect device (MID) market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments:

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Market, By Process Segment

• Laser Direct Structuring
• 2-Shot Molding
• Film Techniques

Market, By Product Type

• Antennae & Connectivity Modules
• Connectors & Switches
• Sensors
• Lighting
• Others

Market, By Industry Vertical

• Telecommunications
• Consumer Electronics
• BFSI
• Military & Aerospace
• Industrial
• Healthcare
• Automotive
• Others

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

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