The Micro Injection Molded Plastic Market Size was valued at USD 1145.85 million in 2022, and is expected to reach USD 2640 million by 2030, and grow at a CAGR of 11.0% over the forecast period 2023-2030. Surgeons and doctors use micro injection-molded parts made of polyethylene (PE) and micro-instrumentation to do less invasive surgeries and help patients get better quickly. Due to small and high-precision devices, manufacturers use innovation, research and development, and micro forming to make minimally invasive devices with more designs and smaller parts. This is expected to drive demand during the projection period.
Micro-molded precision parts are being used more and more in the automotive industry, which is also driving the market. In cars, there are a lot of different kinds of high-precision plastic micro parts, such as buttons, switches, clips, and washers on the inside, door-locking parts with a micron tolerance, and electrical modular gear and electrical motor parts.
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Drivers:
Increasing demand for plastics that have been moulded in many end-user industries
Demand is going up because of medical applications
Restraints:
The high price of injection moulding machines at the start
Fuel prices change all the time.
Opportunity:
Electric cars are being made in greater numbers.
Challenge:
The lack of skilled labor
Almost every part of the world has been affected by the pandemic. The growth of the micro injection-molded plastic market has been negative because of problems in the global supply chain and a drop in oil prices. This is happening because demand in the auto industry has dropped. The automotive and industrial sectors are very important to the market. In terms of value, the micro injection moulded plastic market is worth the most in Asia and the Pacific.
In the Asia-Pacific region, South Asian countries like India, Bangladesh, Sri Lanka, and Central Asian countries saw a drop in the number of cars on the road. This made less people in the area want micro injection-molded plastic. China has a big share of the market for micro injection-molded plastic in the Asia-Pacific region, but at first the pandemic hit them hard. Millions of people were put in quarantine, which stopped all supply chains that came from China. The travel bans and lockdowns that were put in place in most of China's big cities cut down on the amount of oil the country could make. It has also hurt the people who work there, without whom many ports like Shenzhen and Shanghai would not be able to operate. But after three months of being shut down, the country has shown signs of getting better. Most businesses have reopened, which is likely to increase the need for micro injection moulded plastic. After the mass vaccination drive started, other developing countries also sped up the number of cars they made in 2021.
In terms of type, polypropylene is the most popular type of injection-molded plastic around the world. Polypropylene has better physical and chemical properties, which is why it is used most often. About 40 percent of the market share was made up of polypropylene. It is cheaper than most other types of plastic and has a high flexural strength. It doesn't get damaged by water and doesn't react to a lot of different chemicals.
When it comes to uses, packaging is the biggest market segment for injection-molded plastic. In the food and beverage, pharmaceutical, and consumer packaged goods industries, there is a growing need for plastic packaging. According to a study, about 40% of the plastics that are made are used for packaging.
By Material Type
Liquid-Crystal Polymer (LCP)
Polycarbonate (PC)
Polyethylene (PE)
Polyoxymethylene (POM)
Polyetherimide (PEI)
Others
By Application
Medical
Automotive
Optics
Electronics
Others
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About 40 percent of the global injection-molded plastic market is in the Asia-Pacific region, which is the largest market area. Rapid industrialization and the growth of many industries that use plastics as their end product are the main reasons for the growth of the market. Also, the low cost of labour and the ease of getting raw materials are luring different plastic manufacturers to set up shop in this area. Also, a higher standard of living and more money in people's pockets are likely to help the market grow over the next few years.
North America is the second largest market for plastics that are made by injection moulding. In this area, the market is growing because there are more industries that create demand, such as the automotive, packaging, and electronics industries. Also, the fact that the raw materials (oil and gas) industry is so big in this region is good for the growth of the injection moulded plastic market. The Latin American market is expected to grow at a moderate rate because industrial businesses are opening up in more places. During the forecast period, the Middle East and Africa are also expected to show moderate growth.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Exxon Mobil Corporation, BASF SE, INEOS Group Holdings SA, SABIC, LyondellBasell Industries Holdings BV, Huntsman International LLC, DowDuPont, Eastman Chemical Company, Reliance Industries Limited, Chevron Phillips Chemical Company, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 1145.85 Million |
| Market Size by 2030 | US$ 2640 Million |
| CAGR | CAGR of 11.0% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Material type (Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM), Polymethyl Methacryate (PMMA), Polyetherimide (PEI), Polybutylene Terephthalate (PBT), Others) • By Application (Medical, Automotive, Optics, Electronics, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Exxon Mobil Corporation, BASF SE, INEOS Group Holdings SA, SABIC, LyondellBasell Industries Holdings BV, Huntsman International LLC, DowDuPont, Eastman Chemical Company, Reliance Industries Limited, Chevron Phillips Chemical Company, and other players. |
| DRIVERS | • Increasing demand for plastics that have been moulded in many end-user industries • Demand is going up because of medical applications |
| Restraints | • The high price of injection moulding machines at the start • Fuel prices change all the time. |
Ans: Primary or secondary type of research done by this reports.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Almost every part of the world has been affected by the pandemic. The growth of the micro injection-molded plastic market has been negative because of problems in the global supply chain and a drop in oil prices. This is happening because demand in the auto industry has dropped. The automotive and industrial sectors are very important to the market. In terms of value, the micro injection moulded plastic market is worth the most in Asia and the Pacific.
Ans: The lack of skilled labor are the challenges faced by the Micro Injection Molded Plastic Market.
Ans: Micro Injection Molded Plastic Market Size was valued at USD 1032.3 million in 2021, and expected to reach USD 2143.22 million by 2028, and grow at a CAGR of 11.0 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Micro Injection Molded Plastic Market Segment, By Material type
8.1 Liquid-Crystal Polymer (LCP)
8.2 Polyether Ether Ketone (PEEK)
8.3 Polycarbonate (PC)
8.4 Polyethylene (PE)
8.5 Polyoxymethylene (POM)
8.6 Polymethyl Methacrylate (PMMA)
8.7 Polyetherimide (PEI)
8.8 Polybutylene Terephthalate (PBT)
8.9 Others
9. Micro Injection Molded Plastic Market Segment, By Application
9.1 Medical
9.2 Automotive
9.3 Optics
9.4 Electronics
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profile
11.1 Chevron Phillips Chemical Company (US)
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Exxon Mobil Corporation (US)
11.3 BASF SE (Germany)
11.4 INEOS Group Holdings SA (UK)
11.5 SABIC (Saudi Arabia)
11.6 LyondellBasell Industries Holdings BV (Netherlands)
11.7 Huntsman International LLC (US)
11.8 DowDuPont (US)
11.9 Eastman Chemical Company (US).
11.10 Reliance Industries Limited (India)
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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