2021 Trends in Micro Injection Molding

February 1st, 2021

The micro injection molding market is expected to continue growing in the coming years. It’s important for those in the market or partnered with companies in this industry to understand the challenges and opportunities of this growing market.

 

The global micro injection molding market reached $904.3 million in 2020, with North America comprising of 36.5% ($330.6 million) of the total market. At a compound annual growth rate (CAGR) of 11.8% from the years 2020-2025, the global market is expected to reach $1.6 billion by 2025. At a slightly higher CAGR of 11.9%, the North American market reach is projected to reach $579.8 million by 2025. For comparison, the Asia-Pacific micro injection molding market is projected to grow just slightly faster, from $257.9 million in 2020 to $456.5 million by 2025, at a CAGR of 12.1% during the period of 2020-2025. 

 

Polyethylene Thermoplastic Material

Polyethylene thermoplastic material (PE) is primarily used for micro injection molding processes. In general, polyethylenes offer great chemical and impact resistance, electrical properties and low coefficient of friction. PE is available in a variety of grades and formulations to suit different needs. The medical and healthcare segment held the largest market share in 2019 and it is expected to be the fastest-growing end user segment in the coming years too. A shift in trend towards replacing polymers containing phthalates such as PVC with thermoplastics coupled with increasing demand for micro materials has helped increase the use micro molding in the medical industry. 

 

Micro Molding

At Southwest Plastics we invest in innovation, research and design activities in order to enhance minimally invasive device designs and reduce the size of various parts through micro molding. Driving the market for micro molding is precision parts in the automotive industry. In this industry, several types of high-precision plastic micro parts such as interior buttons, switches, clips and washers, micron-tolerance door lock components, gears and encoders for electronic modules, and electric motor components are widely used. Looking ahead, there is a rise in interest from manufacturers and designers to produce and procure micro-featured, high precision components and parts. Micro injection molding is capable of manufacturing billions of components and parts with constant and consistent precision.

 

Application Insights and Global Demands

In addition to the healthcare and automotive industries, leading industries for micro injection molding include, telecom fiber optics, micro drive systems, and more. The global market for micro molding in micro drives system has been a fast-growing industry over the past decade. However, medical and healthcare is expected to continue to be the largest and fastest growing market share. Rapid development of various micro technologies including micro-optics and microfluidics mainly in Western Europe is expected to drive the market for microinjection polymer molding in Europe. However, North America is expected to continue to dominate the market share in the global micro injection molding industry, followed by the Asia-Pacific region.

 

At Southwest Plastics, our working knowledge of engineered plastic and molding compounds ensures that your parts deliver optimal performance. Forming solid partnerships with all our material vendors enables us to be up to date on the latest engineered materials and ensures our customers top priority when supplies are short. This a dynamic and evolving market that we are excited to be a part of. To find out more about our services and how we can provide you with the expert reliability you need, contact us now here. Our experts look forward to working with you.