Press release
Automotive Sector Growth Fuels Expansion Of Micro Injection Molded Plastic Market Driver: Leading Transformation in the Micro Injection Molded Plastic Market in 2025
Micro Injection Molded Plastic Market Size
The booming automotive sector is anticipated to fuel the expansion of the micro injection molded plastic market. Automotive encompasses various types of moving machinery such as cars, trucks, buses, vans, motorbikes, and golf carts. Microinjection molded plastic is extensively used within the automotive industry for crafting small components like fenders, grilles, bumpers, door panels, floor rails, light housings, gears, casings, and connectors, to meet the demand for lightweight materials, intricate designs, and highly accurate parts. In electric vehicles, micro injection molded plastic is used in electronic parts including DC converter, all-electic auxiliary, electric traction motor, traction battery pack, and electric gearbox. As noted by the European Automobile Manufacturers Association (ACEA), a Belgium-based automotive industry group, over 68 million passenger cars were manufactured globally in 2022, marking a growth of 7.9% from 2021. Additionally, data from the U.S. Environmental Protection Agency indicated that the combined production share of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) surged from 4% in 2021 to an estimated 7% in 2022, with further projections suggesting an increase to 12% by 2023. Hence, the expansion in the automotive sector is propelling the growth of the micro injection molded plastic market.
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What Is the projected market size and growth rate for the micro injection molded plastic market?
In the past few years, the market size of micro injection molded plastic has experienced swift expansion. The market is projected to enlarge from $1.2 billion in 2024 to $1.35 billion in 2025, wishing a Compound Annual Growth Rate (CAGR) of 12.4%. This surge can be traced back to the historical period and is connected to a growing demand for products such as automotive lubricants, metalworking fluids, rubber processing, expanded textile applications, plasticizers production, and metal protection.
Expectations are high for significant expansion in the micro injection molded plastic market, with predictions indicating a rise to "$2.16 billion by 2029. This is an impressive compound annual growth rate (CAGR) of 12.4%. Several factors are believed to contribute to this forecasted development, including the flourishing automotive industry, the burgeoning demand for specialty lubricants, the proliferation of the metalworking industry, the embrace of bio-based plastics, and an augmented textile production. Notable evolving trends in the forecasted time frame include progressive enhancements in production technology, market mergers and strategic alliances, further utilization of bio-based plastics, advanced grease formulations, and the advancement of sustainable and bio-based alternatives.
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What new trends are reshaping the micro injection molded plastic market and its opportunities?
The increasing popularity of product innovations is a significant trend in the micro injection molded plastic market. The focus of the dominant market participants is leaning towards formulating novel technologies. Examples of these are automation technologies like robotic arms, vision systems, automatic quality control mechanisms, and advanced materials. For instance, Omega Plastics, a company based in India that provides plastic injection molding solutions, introduced a new precision-specialized demag machine in February 2022. This tool enhances flexibility in manufacturing and supports complex mold designs. The device can process conventional thermoplastic pellets to create the tiniest screw for shot weights varying between 0.1g to 9g with a 14mm thickness. This machinery allows customers to develop components that meet the dimensional accuracy of a micron or less. Moreover, it simplifies the attainment of small shot weights and precision control.
What major market segments define the scope and growth of the micro injection molded plastic market?
The micro injection molded plastic market covered in this report is segmented -
1) By Types: Liquid-Crystal Polymer (LCP), Polyether Ether ket*one (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM), Polymethyl Methacrylate (PMMA), Polyetherimide (PEI), Polybutylene Terephthalate (PBT), Other Types
2) By Machine type: All-Electric Injection Molding Machines, Hybrid Injection Molding Machines, Hydraulic Injection Molding Machine
3) By Application: Medical, Automotive, Optics, Electronics, Other Applications
Subsegments:
1) By Liquid-Crystal Polymer (LCP): Filled LCP, Unfilled LCP
2) By Polyether Ether ket*one (PEEK): Glass-Filled PEEK, Carbon-Filled PEEK, Unfilled PEEK
3) By Polycarbonate (PC): Impact-Resistant PC, Optical Grade PC, Flame-Retardant PC
4) By Polyethylene (PE): High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE)
5) By Polyoxymethylene (POM): Homopolymer POM, Copolymer POM
6) By Polymethyl Methacrylate (PMMA): Extruded PMMA, Cast PMMA
7) By Polyetherimide (PEI): Unfilled PEI, Glass-Filled PEI
8) By Polybutylene Terephthalate (PBT): Glass-Filled PBT, Unfilled PBT
9) By Other Types: Specialty Plastics, Biodegradable Plastics
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Which region dominates the micro injection molded plastic market?
Asia-Pacific was the largest region in the micro injection molded plastic market in 2024. The regions covered in the micro injection molded plastic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the micro injection molded plastic industry growth?
Major companies operating in the micro injection molded plastic market include Accumold LLC, Isometric Micro Molding Inc., Makuta Micro Molding Inc., Precimold Inc., MTD Micro Molding Inc., Microsystems Precision Medical Moulds, Veejay Plastics Injection Molding Company, Knightsbridge Plastics Inc., Polymermedics Ltd., Manner Plastics LP, Microdyne Plastics Inc., SMC Ltd., Mikrotech LLC, Sovrin Plastics Ltd., Stack Plastics Inc., 3A Composites, D&M Plastics LLC, Exxon Mobil Corporation, INEOS Group Holdings SA, Spectrum Plastics Group Inc., LyondellBasell Industries Holdings B.V., Paragon Medical Inc., GSH Industries Inc., Rogan Corporation, Saudi Basic Industries Corporation, BMP Medical Ltd., Precikam Inc., Precission Micro molding LLC, Micromold Inc.
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What Is Covered In The Micro Injection Molded Plastic Global Market Report?
• Market Size Forecast: Examine the micro injection molded plastic market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the micro injection molded plastic market for a structured understanding.
• Key Players Overview: Analyze major players in the micro injection molded plastic market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the micro injection molded plastic market.
• Segment Contributions: Evaluate how different segments drive overall growth in the micro injection molded plastic market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the micro injection molded plastic market.
• Industry Challenges: Identify potential risks and obstacles affecting the micro injection molded plastic market.
• Competitive Landscape: Review strategic developments in the micro injection molded plastic market, including expansions, agreements, and new product launches.
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