Austin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Micro Injection Molding Machine Market Size & Growth Analysis:
“According to SNS Insider Research, The Micro Injection Molding Machine Market size was valued at USD 0.52 billion in 2023 and is projected to reach USD 1.20 billion by 2032, expanding at a CAGR of 9.78% from 2024 to 2032.”
Growth of the Micro Injection Molding Machines Market in Medical, Electronics, and Automotive Industries
The micro injection molding machines market has been experiencing significant growth due to the increasing demand for small, precise, and intricate components across various industries, including medical devices, electronics, and automotive. As industries embrace miniaturization, there is a growing need for high-precision molding technologies to produce smaller and more efficient parts, which improve product performance while lowering manufacturing costs. The trend towards miniaturization, particularly in consumer electronics and medical devices, is driving the demand for micro injection molding machines. These machines offer the ability to manufacture components with tight tolerances and exceptional accuracy, making them ideal for applications where high-quality production is essential. Additionally, advancements in automation and the integration of advanced materials into the molding process have further fueled the market’s growth. As technologies evolve, there is an increasing reliance on micro injection molding to meet the demand for smaller, more sophisticated parts. The automotive sector’s push for lightweight and efficient components, alongside the ongoing trend of smart medical devices, is expected to continue supporting the adoption of micro injection molding machines, further solidifying their importance in high-volume production environments.
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Major Players Analysis Listed in this Report are:
- Arburg GmbH + Co KG
- Haitian International Holdings Limited
- Milacron
- Nissei Plastic Industrial Co., Limited
- Engel Austria GmbH
- Sumitomo (SHI) Demag Plastics Machinery GmbH
- Chen Hsong Holdings Limited
- Toyo Machinery & Metal Co.
- KraussMaffei Group
- LS Mtron
- Ube Machinery Corporation, Ltd.
- Fanuc Corporation
- Sepro Group
- Sumitomo Heavy Industries
- Milacron
- ENGEL
- Battenfeld GmbH
- Arburg
- Haitian
- Nissei & Other Players
Micro Injection Molding Machine Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 0.52 billion |
| Market Size by 2032 | USD 1.20 billion |
| CAGR | CAGR of 9.78% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • The growing need for precise, miniaturized components in medical technology and consumer electronics, fueled by advancements in wearables and IoT devices, is driving the demand for micro-injection molding. |
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The growing need for smaller, efficient parts in industries like medical devices and electronics is driving the demand for micro injection molding machines, which excel at producing intricate, precise components.
The demand for miniaturized parts is a significant driver of growth in the micro injection molding machine market. As industries like medical devices, electronics, and consumer goods increasingly shift towards smaller, more efficient components, the need for precise, intricate parts is growing. Micro injection molding machines are essential in meeting these demands, as they can produce complex, high-precision parts with minimal waste and at faster production rates. The trend towards miniaturization in medical devices, such as implants, sensors, and diagnostic tools, requires manufacturing technologies that can achieve tight tolerances and fine details. Similarly, the electronics sector, with its constant push for thinner, lighter, and more compact devices, is fueling the adoption of these machines.
Market Dominance in Micro-Molding: 30-40 Tons Machines and Medical Applications Lead the Way in 2023
The 30-40 tons segment dominated with the market share over 48% in 2023. These machines are known for their optimal balance of precision and power, making them ideal for producing small, high-quality components. They are widely used in industries such as medical devices, electronics, and automotive, where intricate and miniature parts are essential. The segment's dominance is driven by the increasing trend of miniaturization and the rising demand for highly accurate components. Additionally, the 30-40 tons machines are versatile, capable of processing advanced materials, which further strengthens their market leadership.
The medical application segment dominated with the market share over 36% in 2023. The rising demand for precision-engineered miniature components in medical devices is a key factor driving the growth of the micro-molding market. Medical devices like catheters, surgical instruments, and implants require these tiny components to ensure optimal functionality and safety. These devices need to meet strict regulatory standards and perform under critical conditions, making precision essential. The increasing trend towards minimally invasive surgeries further amplifies the demand for such components, as these procedures require smaller, more intricate parts.
Micro Injection Molding Machine Market Key Segmentation:
By Type
- 0-10 tons
- 10-30 tons
- 30-40 tons
By application
- Medical
- Automotive
- Fiber Optics
- Electronics
- Others
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Asia-Pacific Leads Global Micro Injection Molding Machine Market with Over 42% Share in 2023
Asia-Pacific is dominated with the market share over 42% in 2023. The dominance of the Asia-Pacific region in the global micro injection molding machine market is primarily due to the robust manufacturing capabilities in countries like China, Japan, and South Korea. These nations have well-established industries in electronics, automotive, and healthcare, all of which rely heavily on precision molding technologies. The region’s rapid industrialization, technological advancements, and availability of cost-effective labor have significantly contributed to its market leadership. Furthermore, Asia-Pacific is a hub for producing miniature components, where micro injection molding is essential for creating highly detailed and precise parts. The emphasis on automation and innovation in manufacturing processes further strengthens the region's position, making it a key driver of growth in the micro injection molding machine market globally.
Recent Developments
- In October 2023: Sumitomo (SHI) Demag advanced its digitalization efforts to promote sustainability by introducing activeMeltControl (aMC) for its all-electric injection molding machines. Renowned for their exceptional precision and energy efficiency, these machines have been at the forefront of sustainable plastic processing.
- In April 2023: LS Mtron Injection Molding Machines USA expanded its One-E series of electric injection molding machines to include 55-, 90-, 145-, and 440-ton models. According to company President Peter Gardner, this high-speed line enhances the full range of standard all-electric machines, which vary from 35 to 950 tons.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Micro Injection Molding Machine Market Segmentation, By Type
8. Micro Injection Molding Machine Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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