London, Jan. 04, 2022 (GLOBE NEWSWIRE) -- The global in-mold electronics market size was valued at US$ 170.5 million in 2021. The in-mold electronics market is growing rapidly owing to the rising adoption of in-mold electronics across various industries such as automotive, consumer electronics, aerospace and numerous others. The in-mold electronics helps the manufacturers of different products to add desired design, reduce cost, reduce weight, and increase time-efficiency in the product manufacturing process.
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The increased demand for the various electronic products such as smartphones, tablets, and laptops has significant contributions towards the development of the global in-mold electronics market. The flexibility and durability of the in-mold electronics is boosting its adoption across the globe. Moreover, rapidly growing healthcare, automotive, and aerospace industry is expected to exponentially fuel the growth of the global in-mold electronics market during the forecast period. The rising investments in the research and development of the various digital products are boosting the adoption of the in-mold electronics as most of the digital products use capacitive touch sensors.
Scope of the In-Mold Electronics Market
| Report Coverage | Details |
| Market Size in 2021 | US$ 170.5 Million |
| Growth Rate From 2021 to 2030 | CAGR of 34.4% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| By Ink Type |
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| By Application |
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| Companies Covered | Butler Technologies, InMold Solutions, GenesInk, DuPont de Numours, YOMURA, Nissha Co. Ltd., Golden Valley Products, DuraTech Industries, Eastprint Incorporated, TactoTek Oy |
Regional Snapshot
North America dominated the global in-mold electronics market in 2020. The automotive segment captures a dominating position in the North America in-mold electronics market. The consoles of the automotive vehicles are manufactures using the in-mold electronics. The increased adoption of automotive vehicles among the North American population is a major factor behind the dominance of the region. Furthermore, the increased adoption of luxury and innovative electronic products in the region has fueled the utilization of the in-mold electronics across North America. The high disposable income, increased healthcare expenditure, rising demand for the wearable products, and improvement in the living standards has boosted the various devices and equipment that uses touch sensor technologies. The touch sensor technologies are made using the in-mold electronics that eliminate the mechanical buttons and switches.
Asia Pacific is estimated to be the fastest-growing market during the forecast period. This is mainly attributed to the huge demand for the consumer electronic in the region owing to the cheap availability of the various electronic products in the region. Various top electronic manufacturers are present in the region owing to the favorable business conditions and cheap availability of the factors of production in the region. The government policies are attracting FDIs in the region that is further expect6ed to drive the adoption of the in-mold electronics owing to the expansion of manufacturing facilities of electronic products, automotive, and healthcare devices.
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Market Dynamics
Driver
Advancements in the touch sensors
The increased investments in the development of advanced gadgets resulted in the adoption of the in-mold electronics which offers capacitive touch sensors. The capacitive touch sensors are used in the smartphones, automotive consoles, dryers, washing machines, laptops, and wider variety of products. Moreover, the various benefits such as cost efficiency and time savings offered by the in-mold electronics is expected to drive the market during the forecast period.
Restraints
Increased complications in the design
With the technological advancements, the demand for the miniature or the compact devices is witnessing rapid upsurge across the globe. With the development of the compact devices, the complications in the circuitry is rising that may further lead to further problems in the production.
Opportunities
The rising number of strategies by the market players
The market is fragmented with presence of several players in the market and various developmental strategies such as product launches, acquisitions, agreement, and partnerships highly influences the market growth. For instance, in 2020, Mino Group and GenesInk entered into a partnership. This partnership aimed at expanding the business of the GenesInk in Asia Pacific region.
Trends
Rising penetration of in-mold electronics in multiple industries
The globe is witnessing the growing importance of various digital technologies. Almost all the industries in the globe are affected by the use of the digital technologies. The rising importance of digital technologies had resulted in the adoption of various devices and equipment in almost all the industries of the globe. Hence, the rising penetration of digital hardware devices in different industries is expected to drive the market growth in future.
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Report Highlights
- Based on the ink type, the silver conductive segment dominated the market in 2020. The various benefits offered by the silver conductive ink has fostered its adoption across the industries. It offers cost efficiency by providing low consumption of the ink, high conductivity, and crease resistance are the major benefits that drives the growth of this segment.
- Based on the application, the consumer products segment dominated the market in 2020. This is simply due to the increased adoption of the in-mold electronics in the variety of electronic products such as laptops, smartphones, and tablets. The in-mold electronics offers great facility that facilitates various designs, low weight, and cost and time savings. The rapidly growing consumer products industry is expected to further boost the market growth during the forecast period.
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