Press release
Micro Injection Molded Plastic Market Landscape 2025: Forecast Data and Growth Strategy Insights
Micro Injection Molded Plastic
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What Is the Expected CAGR for the Micro Injection Molded Plastic Market Through 2025?_x000D_
The micro injection molded plastic market has expanded rapidly in recent years. It is set to increase from $1.2 billion in 2024 to $1.34 billion in 2025, at a CAGR of 11.5%. Historic growth was influenced by automotive lubricants, metalworking fluids, rubber processing, expanded textile applications, plasticizer production, and metal protection needs._x000D_
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What's the Projected Size of the Global Micro Injection Molded Plastic Market by 2029?_x000D_
The market for micro injection molded plastic is predicted to experience swift expansion in the coming years, reaching a value of $2.13 billion in 2029 with a compound annual growth rate (CAGR) of 12.2%. Factors contributing to this growth during the predicted period include the expansion of the automotive industry, increasing demand for specialty lubricants, the growth of the metalworking industry, adoption of bio-plastics, and a rise in textile production. Key trends projected to influence the market during this period include advancements in production technology, market mergers and strategic partnerships, increased use of bio-plastics, grease formulations, and the emergence of sustainable and bio-based alternatives._x000D_
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Top Growth Drivers in the Micro Injection Molded Plastic Industry: What's Accelerating the Market? _x000D_
The micro injection molded plastic market is predicted to expand, driven by the surge in the automotive industry. The automotive domain encompasses all types of mobile vehicles such as cars, trucks, buses, vans, motorbikes, and even golf carts. The automotive industry employs microinjection molded plastic to manufacture small components like fenders, grilles, bumpers, door panels, floor rails, light casings, gears, enclosures, and connectors. This is attributed to the demand for lightweight materials, highly accurate parts, and intricate designs. Electronic components in electric vehicles like DC converters, all-electric auxiliaries, electric traction motors, traction battery packs, and electric gearboxes, also use micro injection molded plastic. As per the European Automobile Manufacturers Association (ACEA), a Belgium-based automobile industry group in the European Union, in February 2023 it was reported that there was a global production of over 68 million passenger cars in 2022, showing an increase of 7.9% compared to 2021. Further, in December 2023, data from the U.S. Environmental Protection Agency, a government agency in the US, projected that the combined production of electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and fuel cell electric vehicles (FCVs) rose from 4% in 2021 to 7% in 2022, and it is further anticipated to rise to 12% by 2023. Hence, the advancement of the automotive industry is stimulating the growth of the micro injection molded plastic market._x000D_
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What Trends Will Shape the Micro Injection Molded Plastic Market Through 2029 and Beyond?_x000D_
The trend of product innovation is increasingly gaining traction in the micro injection molded plastic market. Dominant industry players are focusing their energies on developing revolutionary technologies such as automation technologies like robotic arms, vision systems, automated quality control systems, and sophisticated materials. For example, in February 2022, Omega Plastics, a leading Indian company providing plastic injection molding solutions, incorporated a novel precision specialized demag machine that facilitates complex mold designs and enhances manufacturing flexibility. This advanced machine can handle the smallest screws capable of processing traditional thermoplastic pellets with shot weights that go from 0.1g to 9g and reach a thickness of 14mm. This enhanced capability allows for the development of components that meet the tightest dimensional accuracy requirements of up to a micron, and significantly simplifies the attainment of small shot weights and precision control._x000D_
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What Are the Main Segments in the Micro Injection Molded Plastic Market?_x000D_
The micro injection molded plastic market covered in this report is segmented - _x000D_
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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_x000D_
2) By Machine type: All-Electric Injection Molding Machines, Hybrid Injection Molding Machines, Hydraulic Injection Molding Machine_x000D_
3) By Application: Medical, Automotive, Optics, Electronics, Other Applications_x000D_
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Subsegments:_x000D_
1) By Liquid-Crystal Polymer (LCP): Filled LCP, Unfilled LCP_x000D_
2) By Polyether Ether ket*one (PEEK): Glass-Filled PEEK, Carbon-Filled PEEK, Unfilled PEEK_x000D_
3) By Polycarbonate (PC): Impact-Resistant PC, Optical Grade PC, Flame-Retardant PC_x000D_
4) By Polyethylene (PE): High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE)_x000D_
5) By Polyoxymethylene (POM): Homopolymer POM, Copolymer POM_x000D_
6) By Polymethyl Methacrylate (PMMA): Extruded PMMA, Cast PMMA_x000D_
7) By Polyetherimide (PEI): Unfilled PEI, Glass-Filled PEI_x000D_
8) By Polybutylene Terephthalate (PBT): Glass-Filled PBT, Unfilled PBT_x000D_
9) By Other Types: Specialty Plastics, Biodegradable Plastics_x000D_
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Which Top Companies are Driving Growth in the Micro Injection Molded Plastic Market?_x000D_
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. _x000D_
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Which Regions Will Dominate the Micro Injection Molded Plastic Market Through 2029?_x000D_
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_x000D_
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