China and India to be fastest growing micro-injection molded plastic markets during 2022-2026
DUBLIN, February 23, 2022 /PRNewswire/ — The “Global Micro-Injection Molded Plastic Market by Material Type, Application and Region – Forecast to 2026” report has been added to from ResearchAndMarkets.com offer.
The Micro Injection Molding Machine Market Is Expected To Reach $609 million by 2026, at a CAGR of 9.8% from $381 million in 2021.
The main drivers of this market are the growth of the automotive sector and the growing demand from the medical application. The move towards nanotechnology and miniaturization in the medical industry is driving the demand for highly precise and efficient molds to perform medical procedures. Additionally, the continued automation of vehicles and the introduction of electric vehicles further increase the demand for high-precision parts to improve performance.
The major brake on the growth of the market is due to the high technology of all-electric machines, the investment costs are high. Another disadvantage is the high maintenance cost. In the event of engine failure, the entire system has to be changed, resulting in very high maintenance costs. The global economic downturn due to COVID – 19 has also impacted the market. This disrupted the global supply chain, badly affecting the automotive industry. To curb the spread of the coronavirus, governments and international bodies have issued various regulations for industries and manufacturers.
30-40 ton clamping force segment is the largest type of micro injection molding machine for micro injection molding machine market in 2020
The demand for micro molded plastic parts in automotive, electronics and medical applications is driving the demand for micro injection molding machines with a clamping force of 30-40 tons.
Medical is estimated to be the biggest application of micro injection molding machine market between 2021 and 2026
Technological advancement in the medical industry is fueling the use of micro parts in its medical processes to improve the overall procedure with better outcomes for its patients. Intensive R&D further increases the demand for medical micro parts, thereby increasing the demand for micro injection molding machines in medical applications.
APAC is expected to be the largest micro injection molding machine market over the forecast period, in terms of value
In APAC, China is the largest micro injection molding machine market. Rising domestic demand due to rapid increase in manufacturing facilities and other business units is expected to continue driving the demand for micro injection molding machines in the region. Growing population and demand, along with initiatives for new technologies and products, are expected to make this region a promising market for micro-injection molding machines. Population growth will have a significant impact on the automotive and electronics industry in the region.
The report provides information about the following pointers:
- Market Penetration: Comprehensive information on micro injection molding machines offered by major players in the global micro injection molding machines market
- Product Development/Innovation: Detailed information on upcoming technologies, research and development activities, and new product launches in the micro injection molding machine market
- Market development: Comprehensive insights into lucrative emerging markets – the report analyzes Micro Injection Molding Machine Markets across all regions
- Market Diversification: Comprehensive information regarding new products, untapped regions, and recent developments in the global Micro Injection Molding Machines Market
- Competitive Assessment: In-Depth Assessment of Market Shares, Strategies, Products, and Manufacturing Capabilities of Key Micro Injection Molding Machine Market Players
- Impact of COVID-19 on the Micro Injection Molding Machines Market
- Significant Opportunities in the Micro Injection Molded Plastic Market – Strong Growth Expected in Emerging Economies Over the Forecast Period
- Micro Injection Molded Plastic Market Size, By Region – North America to be the largest micro-injection molded plastic market over the forecast period
- North America Micro-Injection Molded Plastic Market by Material Type and Country – United States accounted for the largest market share in North America
- Micro-injection molded plastic market size, by application and region – Medical application to dominate the micro-injection molded plastic market in all regions
- Attractiveness of the micro-injection molded plastic market – China and India to be the fastest growing micro-injection molded plastic markets over the forecast period
- Accumold LLC
- American precision product
- Barnet Smart Materials
- D&M Plastics, LLC
- Isometric Micro Molding, Inc.
- Knightsbridge Plastics Inc.
- Makuta micro-molding
- Way solutions for plastics
- Matrix plastic products
- Micro Molding Inc.
- Microdyne Plastics, Inc.
- Microsystems Precision Medical Molds
- Mtd Micro molding
- Medical Paragon
- Polymermedics Ltd.
- Precimold Kamek precision injection molding
- Smc ltd.
- Sovrin Plastics
- Spectrum Plastics Group, Inc.
- Stack the plastics
- Veejay Plastics Injection Molding Company
- Yomura Technologies Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/uoys6l
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