October 27, 2022 13:02 ET | Source: Adroit Market Research Adroit Market Research
Dallas/Texas, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Micro injection molding is a manufacturing technique that involves injecting molten plastic into moulds using incredibly tiny nozzles. Products with intricate details and shapes that are challenging or impossible to construct using other techniques are made utilizing this approach. Additionally, micro injection moulding is frequently utilized to produce components for goods that must be incredibly small or light, such as cell phones and laptop computers. Micro Injection Molding Market is a result of the rising demand for items that may be customized. The demand for merchandise that is one-of-a-kind and unavailable on the market has increased as a result of the customization trend. The desire for items that are simple to make and have cheap production costs has increased as a result of this trend. Metal Injection Molding
At a CAGR of 10.9% over the forecast period, the global market for micro injection molding Market is anticipated to increase from USD 2.24 billion in 2019 to USD 5.5 billion by 2029. This expansion might be attributable to the rising demand for medical and healthcare equipment as well as automotive parts globally.
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There are three primary varieties of micro injection molding: polyethylene (PE), polycarbonate (PC), and polyether ether ketone (PEEK), each of which is further broken down into a distinct technique. Medical and healthcare equipment, automotive parts, telecom-fibre optics, and micro drive systems & control are a few of the many industries where micro injection moulding is used. Moreover, a variety of different small parts and components for several industries can be produced using this type of molding.
Segmentations of Micro Injection Molding Market
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The major companies are crucial to the micro injection molding market because they offer a wide range of goods and services that are necessary for producing micro-injection led parts. Plus, these businesses provide their clients with a wide range of value-added services, including design and engineering support.
Based on its exceptional qualities, including high strength and stiffness, which make it perfect for usage in a range of applications, polycarbonate (PC) is predicted to rise at the greatest CAGR throughout the projection period. The market for medical and healthcare is anticipated to expand at the greatest CAGR throughout the forecast period as a result of the rising demand for precision medical components and minimally invasive surgical tools.
During the projection period, the region's booming electronics and automotive sectors are expected to cause the CAGR in the Asia Pacific to be the highest. A significant number of micro injection moulding producers are also present in China, India, and Japan, which is further boosting the expansion of the micro injection moulding market in the Asia Pacific region.
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Key Insights Offered in Micro injection molding Market Survey
The SE-EV all-electric micro injection moulding device was released by Sumitomo (SHI) Demag Plastics Machinery GmbH in September 2019. The purpose of this device is to manufacture incredibly small and accurate plastic pieces.
ChemChina sold KraussMaffei Group GmbH to F&S Holding GmbH & Co. KG in July 2019. The company's product line will be able to grow as a result of this purchase in the microinjection molding industry.
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