What's driving the Molded Interconnect Devices Market Trends? | MacDermid Enthone, Harting Mitronics, Molex, SelectConnect, RTP, LPKF Laser & Electronics, Galtronics, Multiple Dimensions AG, BASF, DSM, Evonik, LANXESS

Molded Interconnect Devices 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 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.

Molded Interconnect Devices Market 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 Market growth worldwide. These devices reportedly incorporate thermoplastic materials that are recyclable and do not involve hazardous manufacturing processes
The major players operating in the market-

1. Galtronics Corporation Ltd.
2. LPKF Laser & Electronics AG
3. Molex
4. RTP Company
5. TE Connectivity
6. BASF
7. DSM
8. EMS-CHEMIE (Business Unit EMS-GRIVORY)
9. Ensinger GmbH
10. Evonik
11. LANXESS
12. RTP Company

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In the molded interconnect devices 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 molded interconnect devices 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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