Newark, NJ, Oct. 25, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global polymer microinjection molding market is expected to grow from USD 1.925 billion in 2020 and to reach USD 6.667 billion by 2028, growing at a CAGR of 16.8% during the forecast period 2021-2028.
The polymer microinjection molding market is witnessing significant growth from the past years. This growth is attributed to Increasing demand for small materials for diverse applications and technological advances. The introduction of various common materials in the market, such as polyester, acetal, liquid crystal polymer and various others, will propel the polymer microinjection molding market. The growing adoption of polymer microinjection polymers applications that helps usually the ultra-fine moulding resolution in the manufacturing of small sized products will influence the market.
Polymer Microinjection Molding is referred to as a unique injection molding process requiring a specialized molding machine capable of delivering high injection speed, high injection pressure, precise shot control, uniform melting temperature, and ultrafine resolution using propellers servo-electric controls—sophisticated specially designed for the molding of micro - small components. Micro-injection molding is the process of transferring thermoplastic material in the granules form from a hopper into a heated barrel so that it is molten and soft. The material is then pressurized inside a mold cavity, where it is pressurized for a certain period to compensate for material shrinkage. The material solidifies as the mold temperature is below the glass transition temperature of the polymer. After enough time, the material freezes into the shape of the mold and rises.
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The global polymer microinjection molding market is expected to witness significant growth, owing to increasing demand for small components from the healthcare industry, increase in the popularity of micro-gears, increasing demand for healthcare expenditure, switching of phthalate-containing substrate polymers to thermoplastics. The factors restraining the market growth are high polymer microinjection molding costs, lack of awareness about micro-molding in developing regions. Increasing demand for polymer micro-injection molding from the sectors such as electronics, automotive, telecommunications, medical and healthcare will provide market growth opportunities.
Key players operating in global polymer microinjection molding market include Accu-Mold LLC, Precipart, Makuta Technics, Micromolding Solution Inc., Precimold Incorporation, Rapidwerks Inc., Stack Plastics Inc., Stamm AG, Sovrin Plastics, Likuta Technics Inc., Norco Injection Molding, OMNI Mold Systems, ALC Precision, American Precision Products, Sovrin Plastics. To gain a significant market share in the global polymer microinjection molding market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Makuta Technics and Micromolding Solution Inc. are some of the key manufacturers operating in Polymer Microinjection Molding market.
- In April 2016, RAUMEDIC AG announced the launch of their new Development and Production Unit which will provide high-quality polymer extrusion, assembled products and on-site injection molding. This will help the company offer high quality products to its customers and meet their needs and requirements.
Thermoplastics segment dominated the market and held the largest market share of 35% in 2020
Based on type, the global polymer microinjection molding market is segmented into thermosets, thermoplastics, elastomers. The thermoplastics segment dominated the market and held the largest market share of 35% in 2020. This growth is attributed to the rising demand for micro-materials polymers containing phthalates such as PVC which tend to replace thermoplastics along with growing manufacturing of components such as cogwheels and micro-gears which is used to produce watches.
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Medical & Healthcare segment dominated the market and held the largest market share of 27% in 2020
Based on application, the global polymer microinjection molding market is segmented into medical & healthcare, micro drive systems & control, automotive, telecom fiber optics. The Medical & Healthcare segment dominated the market and held the largest market share of 27% in 2020. This growth is attributed to the increasing number of micro-size components in the medical & healthcare industry.
Regional Segment of Polymer Microinjection Molding Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global polymer microinjection molding market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share in the year 2020. This growth is ascertained by the U.S. in the North America region owing to rising demand for consumption of small products in some end-use industries such as medical, automotive, telecommunications and others in the country. The advancement in technology across the U.S. and the rising of healthcare expenditure will propel the region's market growth. The market in Europe is expected to witness significant growth, owing to gradual increasing in understanding of micro-modelling and early adoption of technology in the country. The Asia-Pacific region is witnessing significant growth in China, Indonesia and India, ascertaining the raising the awareness of medical and healthcare services.
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About the report:
The global polymer microinjection molding market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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