APAC Molded Interconnect Devices (MID) Market is Expected to Cross A Valuation of USD 400 Million by 2024 | Molex, TE Connectivity, BASF, DSM, Evonik, LANXESS

APAC molded interconnect devices (MID) market is projected to surpass a valuation of USD 400 million by 2024. Growth in the disposable income and increased spending capacity of consumers in the Asia Pacific region are further providing an impetus to the molded interconnect devices (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.

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.

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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 molded interconnect devices (MID) market growth worldwide. These devices reportedly incorporate thermoplastic materials that are recyclable and do not involve hazardous manufacturing processes.

The key players covered in this study: -

1. Galtronics Corporation Ltd.
2. LPKF Laser & Electronics AG
3. Molex
4. RTP Company
5. TE Connectivity
6. BASF
7. DSM
8. Evonik
9. LANXESS
10. RTP Company

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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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.

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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Besides the consumer electronics and automotive sectors, one of the most anticipated trends in the 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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