Global Microinjection Molding Machine Market - 2022-2029

Global Microinjection Molding Machine Market - 2022-2029

Market Overview

The global microinjection molding machine market size was worth US$ XX million in 2021 and is estimated to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 9.8% within the forecast period (2022-2029).

Microinjection molding is a molding technique to produce plastic components with shot weights ranging from 1 to 0.1 grams with tolerances of 10 to 100 microns. The molding technology produces tiny complex geometries with the highest accuracy and precision.

Micromolding creates components and parts that are micro in size and feature tolerances. The microinjection molding method is based on the same principles as traditional injection molding. The injection molding machine has a microinjection unit. The miniaturization of automotive, electronics and medical telecommunications devices is driving the need for micro molding of smaller components in various developing countries.

Market Dynamics

Growing demand for miniaturization components in electric vehicles and other automotive is expected to drive the market share for microinjection molding machines in the forecast period.

Growing demand for miniaturization components in electric vehicles and other automotive is expected to drive the market share for microinjection molding machines in the forecast period

According to one of the primary drivers for the microinjection molding machine, the market is the rising automotive industry. Many interior vehicle components, such as interior buttons and switches, various types of clips, washers, door-lock components, gears, encoders for electronic modules so on, are manufactured using microinjection molding. In the car manufacturing sector, these are the most important components.

As a result, the microinjection molding machine market is likely to grow throughout the forecast period due to rising automobile demand. Automobile demand is expanding dramatically in China, India, South Korea Japan. Therefore, the Asia-Pacific microinjection molding machine market has been growing recently.

Furthermore, All electric auxiliary, electric traction motor, traction battery pack, electric transmission, power electronics controller DC converter are electric components found in electric cars. These electrical components are made up of a variety of micro components. These tiny components are critical in the production of electric vehicles.

These are extremely small and intricate components made with a microinjection molding machine. The rising demand for electric vehicles is predicted to positively impact the growth of the microinjection molding machine market, as electric vehicles require more microinjection molded items than ICE vehicles.

The high initial investment is challenging the growth of the microinjection molding machine market

All-electric microinjection molding machine has production efficiency, short injection times due to dynamic servo-motors, reduced noise and better repeatability and best acceleration performance.

The investment expenses of all-electric devices are significant due to their advanced technology. Another drawback is the high expense of maintenance. The entire system must be replaced in a motor failure, resulting in heavy maintenance expenses.

Although hydraulic injection devices are comparatively less expensive than electric machines, they consume much electricity. The hydraulic motor is coupled to an electric power unit and operates at full power during molding, resulting in high electric energy expenses. A typical hydraulic microinjection molding machine can use up to 0.4 kWh of electricity.

Another downside is that the motor oil loses its viscosity properties after only a few hours of use and must be refilled. The use of motor oil involves high maintenance expenses due to its replacement its disposal has a severe environmental impact. The cost of preventive maintenance has a significant impact on production costs.

COVID-19 Impact Analysis

The global microinjection molding market has witnessed a negative impact due to COVID-19. The market's growth rate is estimated to decline during the pandemic in 2020 significantly. The lockdowns imposed in most global economies led to demand, production and supply disruptions.

Industries such as automotive, aerospace and defense, electronics and consumer products witnessed production halts globally, at least in the first half of 2020. The reduction in production has resulted in a significant decline in microinjection molding parts in these industries

Automotive is the most affected end-use industry in the global microinjection molding market, with an annual growth rate declining from XX% in 2019 to XX% in 2020. The declined automotive production coupled with lower demand and production difficulties is the major factor hampering the demand for microinjection molding parts

However, the market is likely to reach pre-COVID levels by 2021, with significantly increased automotive demand in Asia-Pacific. India and China reported increased production and sales of cars and passenger vehicles in the later part of 2020; growth is likely to continue in 2021.

Segment Analysis

The global microinjection molding machine market can segment the clamping force, type, application and region.

Micro molded parts are utilized majorly in surgical equipment and other medical applications in the medical industry, thus boosting the demand for the product in the medical sector

The global microinjection molding machine market is segmented based on application into medical & orthodontics, fiber optics, automotive, electronics, etc. Micro molded parts are utilized in surgical equipment and other applications in the medical industry. The micromolding technology is also widely used in electronics and other industries, where the ""smaller is better"" manufacturing trend persists.

High-volume production of complex three-dimensional shapes is a major growth driver for this segment. The medical industry's shift toward nanotechnology and miniaturization generates demand for precise molds that can efficiently perform medical procedures. While orthodontic devices were traditionally created using investment casting, manufacturers realized the cost savings and high-quality products that microinjection molding machines provide.

The medical industry's technical advancements propel tiny components in its medical operations to improve the whole procedure and provide better patient results. Intensive R&D is driving up demand for micro medical parts, which is driving up demand for microinjection molding equipment in medical settings.

Geographical Analysis

The region's demand for microinjection molding machines will likely continue to rise due to the rapid growth in manufacturing facilities and other Asian-Pacific commercial units.

China is the largest microinjection molding machine market in Asia-Pacific. The region's demand for microinjection molding machines is expected to continue to rise due to the rapid growth of manufacturing facilities and other commercial units. The region is expected to be a potential microinjection molding machine market due to the rising population and demand for new technologies and products. The region's expanding population will significantly impact the region's automotive and electronics industries.

Furthermore, the growing interest in the miniaturization of consumer electronics and the increasing automotive industry worldwide is the major impacting factor on the market growth in Asia-Pacific.

In addition, The production cost in this region is lower than the other regions because the prominent Asian-Pacific players are operating their production facilities. Furthermore, the Japanese automotive industry is one of the world’s largest and most renowned industries. The growth in the sector is primarily due to the initiatives and investments made in the sector, which enabled the growth. Japan’s automobile industry produces the third-largest number of vehicles in the world. It produced about 9,684,298 vehicles in 2019, witnessing a 0.5% decline over 2018 production levels. The country is home to major automotive producers, such as Kawasaki, Yamaha, Toyota, Honda, Nissan and Suzuki.

The growing automotive industry is expected to positively impact the Japan microinjection molding machine market. Moreover, electrical and electronics manufacturing is one of the most prominent sectors in the ASEAN region.

The sector accounts for nearly 30-35% of the region's total exports. Most global consumer electronic products, such as television, radio, computers cellular phones, are manufactured and assembled in ASEAN countries. Thailand, Malaysia Vietnam is the key manufacturing hubs for electrical and electronics products, which further drives the microinjection molding machine market

Competitive Landscape

The global microinjection molding machine market is highly competitive with local and global companies. Some prime companies contributing to the market's growth are Sumitomo Heavy Industries Limited, Engel Austria GmbH, Parmaco Metal Injection Molding AG, Arburg GmbH + Co KG, KraussMaffei Group, Wittmann Battenfeld, Hillenbrand, INC. Nissei Plastic Industrial Co., Ltd, Sodick Co., Ltd., Milacron Holdings Corp. and others.

The major companies are adopting several growth strategies such as acquisitions and product launches collaborations, contributing to the global growth of the microinjection molding machine market.

• In 2021, Nissei Plastic Industrial Co., Ltd. announced the merger news of its US sales subsidiary Nissei America Inc. (California) and production subsidiary Nissei Plastic Machinery Inc. (Texas). The merger aims to enhance their global production and sales structures.

Engel Austria GmbH

• Overview: The company was founded in 1945 and in 1948 patented its first ENGEL plastics press. Furthermore, in 1951 the company launched its first injection molding machine and in 1959, the Completed ENGEL injection molding machine program was on the market. The company has nine production plants in North America, Europe Asia, as well as subsidiaries and representatives in over 85 countries, working towards a common goal

Product Portfolio: LSR Micro molding: The liquid silicone rubber (LSR) micro molding machine was developed by the company to apply its injection molding machines equipped with electric injection units. The micro-injection unit can be retrofitted to existing Engel presses with minor limits based on machine size and application. The unit, which has a rapid coupling method, is also available with modern Engel machines. Engel has used the micro-injection equipment to create 0.0013-gram parts for ocular diagnostic tools. They were made on an Engel e-motion 50/30 TL machine, all-electric and have no tiebars.

Key Development

• In 2020, Engel Austria GmbH created the smallest precision components for the area of ophthalmology with an individual part weight of 0.0013 grams for the market introduction of its new micro-injection unit for liquid silicone rubber. The company used an all-electric, tie-bar-free ENGEL e motion 50/30 TL injection molding machine. The new LSR micro-injection device combines the highest level of precision with the greatest amount of flexibility and cost-effectiveness.

Why Purchase the Report?
• Visualize the global microinjection molding machine market segmentation by clamping force, type, application and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the microinjection molding machine market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global microinjection molding machine market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global microinjection molding machine market report would provide approximately 61 market data tables, 56 figures and 180 pages.

Target Audience 2022
• Service Providers/ Buyers
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• Research Laboratory
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