Global Thermoplastic Micro Molding Market, By Material Type (Liquid Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polyphenylene Sulfide (PPS), Other), Application (Automotive, Electronics, Telecom fiber optics, Packaging, Medical, Micro Drive Systems & Control, Other) – Industry Trends and Forecast to 2029.
Thermoplastic Micro Molding Market Analysis and Size
The market for the thermoplastic micro molding is likely to grow at a healthy rate globally during the forecast period. Tlecom industry has witnessed high growth over the past few years and this is one of the most important end-use industries. This industry is expected to have an estimated over 14% growth rate. This thermoplastic micro molding is used in producing precision optical fiber cables. Furthermore, some of the noticeable trends that the market is witnessing include rising automotive industry, growing adoption of minimally invasive surgery and technological advancements in the medical industry dueing the forecast period.
Data Bridge Market Research analyses that the thermoplastic micro molding market was valued at USD 871.27 million in 2021 and is expected to reach USD 1,881.27 million by 2029, registering a CAGR of 10.10% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Thermoplastic Micro Molding Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Material Type (Liquid Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polyphenylene Sulfide (PPS), Other), Application (Automotive, Electronics, Telecom fiber optics, Packaging, Medical, Micro Drive Systems & Control, Other)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Accumold (U.S.), Makuta, Inc. (U.S.), MicroPEP (France), Stack Plastics (U.S.), PEXCO (U.S.), Stamm (Spain), SMC CORPORATION (Japan), Sovrin Plastics (U.K.), Preci Comps Pvt. Ltd. (India), Precipart (U.S.), Micro Molding Inc. (U.S.), Kamek Precision Tools (Canada), RapidWerks Inc. (U.S.), American Precision Products (U.S.), Isometric Micro Molding (U.S.), Veejay Plastic Injection Molding Company (U.S.)
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Market Opportunities
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Market Definition
Thermoplastic micro molding is an extremely focused manufacturing process that produces mainly high-precision thermoplastic components and parts. In this process produces fully efficient parts by injecting the plastic resin into a pre-made mold. It has numerous sub-categories, for instance, rapid injection molding. Many materials such as polyetheretherketone, liquid crystal polymer, polyoxymethylene, polycarbonate, polyamide, polyethylene, and a few others were used for better outcome of the final products.
Global Thermoplastic Micro Molding Market Dynamics
Drivers
- Increasing demand of thermoplastic micro molding in healthcare and medical sector
Thermoplastic micro molding is widely used for the production of precision based machine components which is used in healthcare sector. Healthcare sector has approximately accounted for 35% of the overall market. The rise in minimally invasive surgery (MIS) is further anticipated to benefit the healthcare sector and drive the growth of the overall thermoplastic micro molding market. Other applications such as injection molding, reaction injection molding, micro optics, micro fluids, hot embossing, thermoforming, injection compression molding and design engineering are expected to boost the demasd of the thermoplastic micro molding and enhnce the market growth rate.
- Increase in demand due to provide design flexibility
The materials which is used to manufacture numerous end components such as liquid crystal polymer (LCP), polyether ether ketone (PEEK), polyphenylene sulfide (PPS) provide design flexibility to the thermoplastic micro molded products. This factor accelerate its wide applications in several sectors such as packaging, medical, micro drive systems & control, automotive, electronics, telecom fiber optics and other which will craet lucrative opportunities for the growth of the thermoplastic micro molding market.
Furthermore, increasing usage of thermoplastic micro molding in the production of precision based machine parts and growing applications scope in the production of micromechanical parts, is also anticipated to improve the market growth.
Opportunities
- Rise in the number of emerging economies
Emerging economies including Central & South America, Asia-Pacific and others are expected to experience robust growth during the forecast period. The increasing demand and awareness for thermoplastic micro molding products and devices are expected to fuel the market's growth rate. Emerging economies including India, Korea, Malaysia and Indonesia are supposed to lead the regional growth due to significant development and rapid industrialization in the forecast period.
Restraints/ Challenges
- High coat associated with thermoplastic micro molding market
The high cost of raw materials which is used in the technology is hampering the adoption of thermoplastic micro molding which rises the overall cost of the thermoplastic micro molded products.
Also, lack of technological awareness amongst consumers in the developing countries will hamper and further challenge the growth of thermoplastic micro molding market during the forecast period of 2022-2029.
This thermoplastic micro molding market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the thermoplastic micro molding market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Thermoplastic Micro Molding Market Scope
The thermoplastic micro molding market is segmented on the basis of material type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material Type
- Liquid Crystal Polymer (LCP)
- Polyether Ether Ketone (PEEK)
- Polyphenylene Sulfide (PPS)
- Other
Application
- Automotive
- Electronics
- Telecom fiber optics
- Packaging
- Medical
- Micro Drive Systems & Control
- Other
Thermoplastic Micro Molding Market Regional Analysis/Insights
The thermoplastic micro molding market is analysed and market size insights and trends are provided by country, material type and application as referenced above.
The countries covered in the thermoplastic micro molding market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the thermoplastic micro molding market in terms of revenue and market share This is due to the highly developed automation and automobile sectors in the region, along with the constant investments to develop the packaging, medical, and aerospace technologies in this region.
North America is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the rising usages of advanced technology in this region. North America is expected to have a huge demand of thermoplastic micro molding due to the growing medical industry, automotive industry and telecom industry in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Thermoplastic Micro Molding Market Share Analysis
The thermoplastic micro molding market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to thermoplastic micro molding market.
Some of the major players operating in the thermoplastic micro molding market are:
- Accumold (U.S.)
- Makuta, Inc. (U.S.)
- MicroPEP (France)
- Stack Plastics (U.S.)
- PEXCO (U.S.)
- Stamm (Spain)
- SMC CORPORATION (Japan)
- Sovrin Plastics (U.K.)
- Preci Comps Pvt. Ltd. (India)
- Precipart (U.S.)
- Micro Molding Inc. (U.S.)
- Kamek Precision Tools (Canada)
- RapidWerks Inc. (U.S.)
- American Precision Products (U.S.)
- Isometric Micro Molding (U.S.)
- Veejay Plastic Injection Molding Company (U.S.)
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