Micro Injection Molded Plastic Market by Material Type (Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM)), Application and Region - Global Forecast to 2026

Micro Injection Molded Plastic Market by Material Type (Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM)), Application and Region - Global Forecast to 2026

The micro injection molding machine market is projected to reach USD 609 million by 2026, at a CAGR of 9.8% from USD 381 million in 2021. The major drivers of this market are growth in automotive sector and rising demand from medical application. The shift towards nanotechnology and miniaturization in medical industry is driving the demand of highly precise molds which are efficient to perform medical procedures. In addition, the ongoing automation in vehicles and introduction of electric vehicles is further increasing the demand of high-precision parts to enhance the performance. The major restraint to market growth is due to the high technology of all-electric machines, the investment costs are high. Another disadvantage is the high maintenance cost. In case of motor failure, the entire system must be changed, which entails significantly high maintenance costs. The global economic slowdown due to COVID-19 also impacted the market. This has disrupted the global supply chain, severely impacting the automotive industry. To retain the spread of the coronavirus, governments and international bodies issued various regulations for industries and manufacturers.

“The 30 to 40 tons clamping force segment is the largest type of micro injection molding machine for micro injection molding machine market in 2020”

The demand for micro molded plastic parts in automotive, electronics and medical application is driving the demand for micro injection molding machine with clamping force 30 to 40 tons.

“Medical is estimated to be the largest application of micro injection molding machine market between 2021 and 2026.”

The technological advancement in the medical industry is fueling the use of micro parts in its medical processes to enhance the overall procedure with better results for their patients. Intensive R&D is further increasing the demand for medical micro parts, thus, increasing the demand for micro injection molding machine in medical application.

“APAC is expected to be the largest micro injection molding machine market during the forecast period, in terms of value.”

In APAC, China is the largest micro injection molding machine market. Increasing domestic demand due to the rapid increase in manufacturing facilities and other commercial units is expected to continue driving the demand for micro injection molding machine in the region. Increasing population and demand, accompanied by initiatives for new technologies and products, are projected to make this region a promising micro injection molding machine market. The growing population will have a significant impact on automotive and electronics industry in the region.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
By Designation: C-Level - 46%, Director Level - 25%, and Others - 29%
By Region: North America - 27%, Europe - 27%, APAC - 33%, South America - 7%, and Middle East & Africa - 6%,

The key market players profiled in the report include Sumitomo Heavy Industries Limited (Japan), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd. (Japan), Sodick Co., Ltd. (Japan), and Milacron Holdings Corp (US).

Research Coverage

This report segments the market for micro injection molding machine on the basis of type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for micro injection molding machine.

Reasons to buy this report

This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the micro injection molding machine market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
Market Penetration: Comprehensive information on micro injection molding machine offered by top players in the global micro injection molding machine market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the micro injection molding machine market
Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for micro injection molding machine across regions
Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global micro injection molding machine market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the micro injection molding machine market
Impact of COVID-19 on micro injection molding machine market