Molded Interconnect Devices (MID) Market SWOT Analysis to 2024 Lead By Molex, RTP Company, TE Connectivity, BASF, DSM, Evonik, LANXESS

Molded Interconnect Devices (MID) Market is expected to reach USD 840 million by 2024. The proliferation of the smart & connected wearable devices across the globe is driving the industry growth. These components allow lesser energy consumption and help in enhancing the battery life of the wearable devices, which is beneficial to the users. Moreover, these components further help in reducing the overall of the wearable devices. The wearables are increasingly being consumed in medical activities to detect the patient’s heart rate, body temperature, and the blood level on a regular basis, which is anticipated to drive the MID market growth.

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The surge in the use of consumer electronic devices including smartphones, tablets, and televisions is anticipated to drive the MID market growth. These components are increasingly integrated into the smart devices owing to their reduced size and energy-saving features. The antenna integrated components provide enhanced mechanical and electronic enclosure development to the manufacturers.

The incorporation of the components into the smartphone devices helps in improving the functionality and productivity. They help in minimizing the total parts in a circuit, thereby reducing the assembly time, saving space, and reducing costs for intricated functions, which are projected to drive the implementation and usage of the components in several applications.

In the MID market, the Laser Direct Structuring (LDS) process segment is anticipated to gain traction over the coming years owing to the ease of processing and low development & tooling costs associated with the manufacturing processes. It consists of a one-step process that integrates plastic creation on the device and enhances the component performance. The MID market is driven by benefits provided by the LDS processes such as the elimination of hazardous chemical pre-treatment and lesser environmental impacts over the legacy processes.

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The healthcare sector in the 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.

In the Asia Pacific MID market, countries including China, Japan, and South Korea are expected to witness several growth opportunities owing to the presence of major consumer electronics manufacturers. These components enable ease of processing and low energy consumption thereby benefiting the manufacturing companies.

Growth in the disposable income and increased spending capacity of consumers in the Asia Pacific region are further providing an impetus to the MID market growth. Penetration and presence of several raw material suppliers and the growth in the export activities from these countries account for large revenue shares in the industry.

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Players operating in the MID market include Galtronics Corporation Ltd., LPKF Laser & Electronics AG, Molex, RTP Company, TE Connectivity, BASF, DSM, EMS-CHEMIE (Business Unit EMS-GRIVORY), Ensinger GmbH, Evonik, LANXESS, RTP Company. 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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