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Molded Interconnect Devices Market Study 2018-2024 By MID Manufacturers & Material Suppliers: Galtronics, LPKF Laser & Electronics AG, MacDermid Enthone, Molex, Cicor Group, Tongda Group, BASF, DSM, EMS-CHEMIE, Evonik, Lanxess, RTP Company

09-30-2018 10:54 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Molded Interconnect Devices Market

Molded Interconnect Devices Market

The healthcare sector in the molded interconnect devices (MID) market is predicted to dominate owing to the growing use of these components in devices such as blood pressure monitors, glucose meters, and oxygen meters that enables improved patient diagnostics. The 3D assemblies of components in medical devices help in enhancing the circuit designs and minimizing the size. These are increasingly being used by dentists and medical pathology labs, thereby driving the MID market growth.

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World Molded Interconnect Devices (MID) Market is set to grow from its current market value of $320 million to more than $840 million by 2024, grow at over 12% CAGR.

Industry Growth drivers –
• Proliferation of wearable devices in the U.S.
• Favorable regulatory scenario for electronic waste reduction in the European Union
• High demand from automotive industry across Germany, France, Italy
• Surge in demand for smartphones in Asia Pacific
• Growth of semiconductor manufacturing industry in China, South Korea, Taiwan

LDS molded interconnect devices market is expected to grow at a CAGR of over 15% over the forecast timespan. Several industrial and aerospace & defense manufacturers are developing compact and advanced models by integrating mechanical & electrical functions in a single product. This helps manufacturers to save production costs and offer aesthetically-improved features along with the reduction in their production times. With miniaturization driving the consumer electronics industry, the LDS market is growing in popularity by allowing smaller designs with integrated functionalities. These processes have presented new and efficient forms of production from a single component to mass production and have also led to innovative product designs, thereby driving the LDS MID market demand.

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A major trend driving the molded interconnect devices market is the implementation of the devices for LDS in the automotive industry. These devices are used for reducing vehicle weight and increasing reliability owing to the benefits such as the elimination of circuits boards and wired circuitry. Rapid technological advancements in seatbelt safety system, position sensors, brake sensors, motorcycle LED lights, steering wheel hubs, and control switches are generating several opportunities for the industry growth. Moreover, the devices provide video-based driving assistance by using vehicle camera systems, thereby strengthening the driver safety. Vehicle tracking systems are majorly implementing these devices in the LED displays and monitors to assist parking and traffic situations and monitor the driving behavior. Design flexibility and low cost of the solution are expected to drive the growth of the automotive molded interconnect device market.

The Asia Pacific MID market is projected to exceed USD 400 million by 2024. Strong growth in the region can be attributed to the presence of several companies including Samsung Electronics, Co., Ltd. and Sony Corporation. These companies are expanding and upgrading their product portfolio thereby offering several opportunities for vendors operating in the molded interconnect devices market. Several players in the region are also entering into collaborations for the development of new technologies. They are offering high-end products at competitive prices and are adopting aggressive marketing strategies. The exponential advancements in the technology and increasing commercialization of several innovative products have resulted in high growth prospects thereby attracting more players to the MID market.

Browse key industry insights spread across 210 pages with 155 market data tables & 36 figures & charts from the report, “Molded Interconnect Devices (MID) Market Size By Process (Laser Direct Structuring (LDS), Two-Shot Molding) By End-Use (Automotive, Consumer Products, Healthcare, Industrial, Military & Aerospace, Telecommunication & Computing), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Sweden, Russia, China, India, Japan, South Korea, Taiwan, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/molded-interconnect-devices-MID-market

Players operating in the MID market include Amphenol T&M Antennas, Galtronics, Harting Mitronics AG, LPKF Laser & Electronics AG, MacDermid Enthone, Molex, Multiple Dimensions AG, RTP Company, S2P smart plastic product, SelectConnect Technologies, Suzhou Cicor Technology Co. Ltd, Teprosa GmbH, Tongda Group, Yomura, BASF, DSM, EMS-GRIVORY, Ensinger GmbH, Division Ensinger Compounds, Evonik Industries, Lanxess, Mitsubishi Engineering Plastics, PTS Group, RTP, Sinoplast New Material Ltd., and Zeon Corporation.

Manufacturers in the industry are focusing on minimizing the component size to cater to the consumer segment demands. Several major players are incorporating strategic alliances and partnerships with consumer electronics manufacturers for supplying raw materials in bulk quantities.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

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