Micro Injection Molded Plastic Market Opportunities: China and India to be the Fastest-Growing Micro Injection Molded Plastic Markets During 2022-2026

DUBLIN, Feb. 23, 2022 /PRNewswire/ -- The "Global Micro Injection Molded Plastic Market by Material Type, Application and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

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 the automotive sector and rising demand from the medical application. The shift towards nanotechnology and miniaturization in the medical industry is driving the demand for highly precise molds which are efficient to perform medical procedures. In addition, the ongoing automation in vehicles and the introduction of electric vehicles is further increasing the demand of high - precision parts to enhance 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 the micro injection molding machine market in 2020

The demand for micro molded plastic parts in automotive, electronics and medical applications is driving the demand for micro injection molding machines 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 its patients. Intensive R&D is further increasing the demand for medical micro parts, thus, increasing the demand for micro injection molding machines in medical applications.

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 machines 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 the automotive and electronics industry in the region.

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 microinjection 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

Premium Insights

• Significant Opportunities in the Micro Injection Molded Plastic Market - High Growth Expected in Emerging Economies During the Forecast Period
• Micro Injection Molded Plastic Market Size, by Region - North America to be Largest Micro Injection Molded Plastic Market During the Forecast Period
• North America Micro Injection Molded Plastic Market, by Material Type and Country - US Accounted for the Largest Share of the Market in North America
• Micro Injection Molded Plastic Market Size, by Application and Region - Medical Application to Dominate the Micro Injection Molded Plastic Market Across the Regions
• Micro Injection Molded Plastic Market Attractiveness - China and India to be the Fastest-Growing Micro Injection Molded Plastic Markets During the Forecast Period

Companies Mentioned

• Accumold LLC
• American Precision Product
• Barnet Intelligent Materials
• D&M Plastics, LLC
• Isometric Micro Molding, Inc.
• Knightsbridge Plastics Inc.
• Makuta Micro Molding
• Manner Solutions for Plastics
• Matrix Plastic Products
• Micro Molding Inc.
• Microdyne Plastics, Inc.
• Microsystems Precision Medical Moulds
• Mikrotech
• Mtd Micro Molding
• Paragon Medical
• Polymermedics Ltd.
• Precimold Kamek Precision Injection Molding
• Smc Ltd.
• Sovrin Plastics
• Spectrum Plastics Group, Inc.
• Stack Plastics
• Veejay Plastics Injection Molding Company
• Yomura Technologies Inc.

For more information about this report visit https://www.researchandmarkets.com/r/uoys6l

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SOURCE Research and Markets