Micro Injection Molding Machine Market Expanding 9.8% Yearly
The Micro Injection Molding Machine Market is projected to reach $609 million by 2026, at a CAGR of 9.8% from $381 million in 2021, according to a report published by MarketsandMarkets.
Micro injection molding machines are machines used for the manufacture of plastics components for shot weights of 1 to 0.1 grams with tolerances in the range of 10 to 100 microns. This molding process permits the manufacture of complicated small geometries with maximum possible accuracy and precision.
Micro molding produces a component or part that is: micro in size, micro in features, micro in tolerances. However, the basic concept of the micro injection molding process is akin to a standard injection molding process; the micro injection unit is simply integrated into the injection molding machine.
Key players in the market include…
- Engel Austria GmbH (Austria)
- Milacron Holdings Corp (US)
- Nissei Plastic Industrial Co. (Japan)
- Sodick Co., Ltd. (Japan)
- Sumitomo Heavy Industries Limited (Japan)
Rising trend of electric vehicles will increase demand for micro injection molds.
The strong position of the automotive sector is a major factor driving the micro injection molding machine market. Electric vehicles are composed of various electronic parts such as all electric auxiliary, electric traction motor, traction battery pack, electric transmission, power electronics controller, and DC converter among others. These small electronics parts are composed of various micro components that are critical during vehicle manufacture and assembly. These are very small and complex components.
Because the growing electric vehicle market requires more micro injection molded products than a standard internal combustion (ICE) vehicle, the increased electric demand should positively impact market growth.
30 to 40 tons clamping force segment is projected to be the fastest-growing type in this market.
The demand for micro molded plastic parts in automotive, electronics and medical application is driving the demand for micro injection molding machine with clamping force 30 to 40 tons. However, micro injection molding machine with clamping force 0 to 10 tons is expected to grow at the highest CAGR during the forecast period.
The shift towards nanotechnology in every sector including medical, automotive, fiber optics, electronics and others is increasing the necessity of smaller high-precision parts.
Asia Pacific (APAC) is projected to be the fastest-growing region for the micro injection molding machine market during the forecast period, with China is the largest market by country. Increasing domestic demand due to the rapid increase in manufacturing facilities and other commercial units is expected to continue driving the demand for micro injection molding machine in the region. Increasing population and demand, accompanied by initiatives for new technologies and products, are projected to make this region a promising micro injection molding machine market. The growing population will have a significant impact on automotive and electronics industry in the region.
Note: Feature image from Wikipedia has been edited into an infographic and cropped to fit format.