The micro injection molded plastics market is estimated to grow from USD 1.2 billion in 2023 to USD 2.1 billion by 2028, at a CAGR of 11.4%
For automotive applications, micro injection molding has a number of benefits, including miniaturization, weight reduction, enhanced performance, and cost savings. The automotive industry relies heavily on electrical and electronic systems, and micro injection molded plastic parts play a crucial role in connectors, terminals, and other electrical components. These tiny components are crucial for the operation of different automobile systems and offer dependable connectivity. All these factors are boosting the demand for micro injection molded plastic especially in automotive applications.
The demand for micro injection molded plastics in PEI (Polyetherimide) is influenced by several factors.The specific demand for micro injection molded plastics in PEI depends on the application needs and industry demands, despite the fact that PEI itself is a high-performance thermoplastic with a variety of desirable qualities.
PEI’s characteristics, such as high-temperature resistance, mechanical strength, chemical resistance, and electrical insulation properties, make it suitable for micro injection molding in certain applications where miniaturization and high-performance are essential. All these factors boost the market for PEI material type in micro injection molded plastic globally.
The demand for micro injection molded plastics in the medical industry has been steadily increasing due to the growing need for miniaturized medical devices, improved patient care, and technological advancements.Micro injection molding enables the production of small and precise plastic components with tight tolerances, making it suitable for various medical applications.
In medical they are used in various applications including surgical instruments, implantable devices, drug delivery systems, and others. All these factors boost the market for micro injection molded plastic in medical application globally.
Asia Pacific has low cost of labor, easy availability of raw materials, with high adoption rate for new and modern technologies and availability of land which makes the region an attractive option for various manufacturing industries including automotive, healthcare, electronics and others.The increasing population in countries like India and China, demand for eco-friendly, cost-effective electric vehicles and demand for advanced electronics products drive the market for micro injection molded plastics in Asia Pacific.