Press release
Molded Interconnect Devices (MID) Market Analysis By 2024 – Top Key Players are Molex, RTP Company, TE Connectivity, BASF, DSM, EMS-CHEMIE (Business Unit EMS-GRIVORY), Evonik, LANXESS and RTP Company
Molded Interconnect Devices (MID) Market
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MIDs have gradually become the prime circuitry solution choice in the automotive and electronics industry, owing to its easy assembling, smaller circuitry. and light weight when compared to conventional PCB circuits. It is prudent to mention that the eco-friendly tag that these devices carry is one of the major factors fueling the MID market growth worldwide. These devices reportedly incorporate thermoplastic materials that are recyclable and do not involve hazardous manufacturing processes.
Key industry players involved in the Molded Interconnect Devices (MID) business and promoting the growth of the global Molded Interconnect Devices (MID) Market are as follows:
• Galtronics Corporation Ltd.
• HARTING AG - MID
• LPKF Laser & Electronics AG
• Macdermid Enthone
• Molex
• Multiple Dimensions AG
• RTP Company
• S2P - Smart Plastic Products
• SelectConnect Technologies
• Suzhou Cicor Technology Co. Ltd + LinkedIn - Google Search
• TE Connectivity
• TEPROSA GmbH
• Tongda Group Holdings Limited
• Yomura
• BASF
• DSM
• EMS-CHEMIE (Business Unit EMS-GRIVORY)
• Ensinger GmbH
• Evonik
• LANXESS
• Mitsubishi Engineering-Plastics corporation
• PTS Group
• RTP Company
• SHENZHEN SINOPLAST ADVANCED MATERIAL CO., LTD
• Zeon Corporation
These devices enable the combination of mechanical components and electrical circuits on three-dimensional thermoplastic materials. The technology allows to integration of chips directly with their assemblies, saving space and facilitating miniaturization. For instance, the smartphone antennas can be installed directly within the housing with the help of the devices. The products can be manufactured with fewer assembly steps as compared to the traditional PCB manufacturing and offer a high degree of freedom to circuit designers. Integration of sensors and functions reduces assembly time and production steps, resulting in high-quality components and optimization of supplementary costs. These factors are anticipated to positively impact the MID market growth over the coming years.
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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.
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.
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Key industry players operating in the molded interconnect devices market include MacDermid Enthone, Harting Mitronics, Molex, SelectConnect Technologies, and RTP Company. The designers and electronic developers have expanded their capabilities in the prototyping and functioning of the final device by using advanced 3D design tools such as the Target 3001. The MID market growth can be attributed to the rise in advancements in thermoplastic materials and the development and adoption of LDS technology. A major portion of production volume is concentrated on antennas for telecommunication and smart computing devices such as smartphones, laptops, smart watches, and tablets, among others.
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