Molded Interconnect Devices (MID) Market in Laser Direct Structuring (LDS) Process Segment is Projected to Gain Traction Over 2018 - 2024 |Leading Players Galtronics Corporation, Molex, RTP Company, TE Connectivity, BASF, DSM, Evonik, LANXESS

Molded Interconnect Devices (MID) market is poised to witness an accelerated growth over the ensuing years, amidst the backdrop of the frequent technological advancements in telecommunication sector. The ability of the device to facilitate miniaturization has largely added to the expansion of its application portfolio in a range of consumer products.

The surge in the use of consumer electronic devices including smartphones, tablets, and televisions is anticipated to drive the Molded Interconnect Devices (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.

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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 Molded Interconnect Devices (MID) market growth.

The Major Key Players in the Market are as follows:
• Galtronics Corporation Ltd.
• LPKF Laser & Electronics AG
• Molex
• RTP Company
• TE Connectivity
• BASF
• DSM
• Evonik
• LANXESS
• RTP Company

In the Molded Interconnect Devices (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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Touted as one of the major growth avenues in the Molded Interconnect Devices (MID) market, China is estimated to contribute over $155 million to the MID industry by 2024, aided by the increasing demand for MIDs in the consumer electronics sector. China has achieved a rapid growth rate because of its ability to provide cheap labor for manufacturing industries, which has prompted many multinational companies to shift their manufacturing units in the country. The nation has now turned into a global manufacturing hub, with Apple setting one of the most prominent examples of this trend.

European nations have been renowned for their active participation toward ensuring environmental sustainability trends, making the continent one of the leading players in the Molded Interconnect Devices (MID) market expansion. The MID Laser Direct Structuring (LDS) manufacturing process allows MID to be made via a single-shot molding process which is relatively less harsh on the environment than conventional methods.

Besides the consumer electronics and automotive sectors, one of the most anticipated trends in the Molded Interconnect Devices (MID) market remains the contribution of healthcare fraternity to this space. With rapid R&D investments toward healthcare prototyping gaining prominence, the sector is certain to be a profitable end-user for the molded interconnected devices manufacturers. Global Market Insights, Inc. forecasts the healthcare Molded Interconnect Devices (MID) market to record an appreciable double-digit CAGR of 15% over 2018-2024.

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