Press release
Molded Interconnect Device (MID) Market to value $840mn by 2024: Key industry players: Galtronics, LPKF Laser & Electronics AG, MacDermid Enthone, Molex, Cicor Group, Tongda Group, BASF, DSM, EMS-CHEMIE, Evonik, Lanxess, RTP Company
U.S. molded interconnect devices (MID) market size, by end-use, 2017 & 2024 (USD Million)
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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.
LDS molded interconnect device 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 device 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.
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
The healthcare sector in the molded interconnect device (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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