New York, Feb. 14, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Molded Interconnect Device Market Size, Share, Growth, Trends and Global Forecast to 2028 - Covid-19 Impact and Global Analysis by Product (Antennae and Connectivity Modules, Sensors, Connectors and Switches, Lighting Systems, and Others), End-users [Automotive, Consumer Electronics, Medical, Telecommunications, Military and Aerospace, and Others], Process [Laser Direct Structuring (LDS), Two-Shot Molding, and Film Techniques], and Geography”; the global molded interconnect device (MID) market size is expected to grow from USD 1.20 billion in 2021 and is reaching USD 2.71 billion by 2028; it is expected to register at a CAGR of 14.5% from 2022 to 2028.
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Global Molded Interconnect Device Market – Report Scope:
| Market Size Value in | USD 1.20 Billion in 2021 |
| Market Size Value by | USD 2.71 Billion by 2028 |
| Growth rate | CAGR of 14.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Product, End-Users, and Process |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Molded Interconnect Device Market - Company Overview
The report profiles several key players in the Molded Interconnect Device market, including Arlington Plating Company, HARTING Technology Group, LPKF Laser and Electronics AG, MacDermid, Inc., Molex, LLC, Multiple Dimensions AG, RTP Company, TE Connectivity, TEPROSA GmbH, and YOMURA. The study also includes an analysis of several other major companies, such as JOHNAN, 2E mechatronic, and MID Solutions, to provide a comprehensive understanding of the Molded Interconnect Device market and its ecosystem.
To remain competitive in the Molded Interconnect Device market, many players are pursuing both organic and inorganic growth strategies, including product launches, product development, market expansion, partnerships, collaborations, and mergers and acquisitions.
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A few of the examples are mentioned below:
- In March 2022, Amphenol Corporation expanded its product series, i.e., the SURLOK Plus Series, to include 8 mm and 10.3 mm right-angle connectors, with a voltage range of 1500 VDC for meeting the requirement of high-power connection and transfer and energy storage.
- LPKF Laser & Electronics developed a new technology in November 2021 by combining Laser Direct Structuring (LDS) and laser plastic welding. In the LDS process, the electrical circuits are directly placed on parts with fine resolution in 2D and 3D design.
- In June 2020, MacDermid Alpha Electronics Solution announced the launch of Systec SAP, a family of high-performance build-up processes for IC substrate RDL. It provides multiple process flows for various materials and advancements in conditioning, activation, and metallization steps.
Molded Interconnect Device, or MID, are thermoplastic parts created through injection molding that incorporate electronic circuits, reducing complexity, the number of components needed, and the risk of failure. Structured metallization and high-temperature thermoplastics are used to mold the circuits into the components, enabling innovative carrier circuit design in the electronics industry. As a result of these benefits, demand for MIDs has risen among manufacturers looking to fit more electronic components into smaller spaces. The growth of AI and IoT technology in devices like smart watches is expected to further boost the molded interconnect device market in the future.
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Global Molded Interconnect Device Market – Growth Dynamics:
Domestic consumer electronics manufacturers have been encouraged to invest in new technologies, including AI, as a result of growing government initiatives and funding activities. Industry expansion has followed, with companies like Samsung planning to increase their spending by 30% to approximately US$ 151 billion by 2030. Additionally, the rise of disruptive technologies such as IoT, machine learning, and AI has generated a need for new manufacturing technologies, contributing to the growing demand for MIDs. The growing need for miniaturization in the consumer electronics sector is a key driver behind the expansion of the Molded Interconnect Device market. Additionally, favorable regulatory conditions and a desire to reduce e-waste have contributed to this growth, due to the ease of operation, installation, and configuration of MIDs, among other beneficial features.
The Molded Interconnect Device market is experiencing growth due to various factors. Increasing government initiatives and funding have spurred domestic consumer electronics manufacturers to invest in AI and expand the industry. Samsung, for instance, plans to increase spending by 30% to about US$ 151 billion by 2030. Additionally, new disruptive technologies like IoT, machine learning, and AI have created demand for new manufacturing technologies, contributing to the increased need for MIDs. The Molded Interconnect Device market has also been propelled by the growing demand for miniaturization in the consumer electronics industry. Further, Molded Interconnect Device market's growth can be attributed to multiple beneficial features of MIDs. These include the ease of operating, installing, and configuring the device, as well as a need to reduce e-waste through favorable regulatory conditions.
The Molded Interconnect Device market is expected to see growth opportunities in the near future, driven by the adoption of IoT devices and the rising demand for smartphones. Nevertheless, fluctuating raw material prices could hinder market growth. Other factors, including the impact of the COVID-19 pandemic, the ongoing Russia-Ukraine conflict, and the technological monopoly of LDS equipment manufacturers, could affect the supply chain and potentially hinder the growth of the Molded Interconnect Device market.
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Global Molded Interconnect Device Market - Regional Overview:
During the forecast period, China is expected to grow at the highest CAGR in the Asia Pacific region due to several factors. Firstly, China is a significant global manufacturing hub for various electronic devices, including wearable technology. Secondly, many companies based in North America and other regions have manufacturing plants in China. Finally, China is one of the fastest-growing countries in the production of consumer electronic and medical devices using MID technology.
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