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The Business Research Company’s Micro Injection Molded Plastic Global Market Report 2024 offers crucial insights into the micro injection molded plastic market help businesses analyse and build stronger strategies.

 

Overview
The micro injection molded plastic market has been experiencing significant growth in recent years, driven by various industries and technological advancements.

 

Market Size and Growth

• 2023-2024: The market is expected to grow from $1.07 billion in 2023 to $1.21 billion in 2024, achieving a compound annual growth rate (CAGR) of 12.6%.
• 2028 Forecast: The market size is projected to reach $1.89 billion by 2028, with a CAGR of 11.9%.

 

Historical Growth Factors

• Automotive Lubricants: Increased use in automotive lubricants has spurred market growth.
• Metalworking Fluids: Expansion in the metalworking industry has boosted demand.
• Rubber Processing: Growth in rubber processing applications has contributed.
• Textile Applications: Increased textile production has driven market expansion.
• Plasticizers Production: Higher production of plasticizers has supported growth.
• Metal Protection: Enhanced metal protection needs have influenced the market.

 

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Forecast Period Growth Drivers

• Automotive Industry: The growing automotive sector continues to be a major driver.
• Specialty Lubricants Demand: Rising demand for specialty lubricants boosts the market.
• Metalworking Industry Expansion: Continued growth in metalworking fuels market demand.
• Bio-Based Plastics Adoption: Increasing adoption of bio-based plastics supports growth.
• Textile Production Increase: Further increases in textile production drive market expansion.

 

Key Market Trends

• Technological Advancements: Innovations in production technologies are key trends.
• Market Consolidation and Alliances: Strategic alliances and consolidations are shaping the market.
• Sustainable Alternatives: Adoption of sustainable and bio-based alternatives is rising.
• Grease Formulations: Development of new grease formulations is a notable trend.

 

Automotive Sector: A Major Growth Driver

The automotive sector significantly propels the micro injection molded plastic market.

Applications in Automotive

• Parts Production: Used for fenders, grilles, bumpers, door panels, floor rails, light housings, gears, housings, and connectors.
• Electric Vehicles: Critical for electronic components like DC converters, all-electric auxiliary, electric traction motors, traction battery packs, and electric gearboxes.

Industry Growth

• Production Increase: Over 68 million passenger cars were produced globally in 2022, a 7.9% increase from 2021.
• Electric Vehicles Surge: Sales of electric vehicles nearly doubled to 6.6 million in 2022, representing a 9% market share.

Innovations in the Market

Product innovations are crucial in the micro injection molded plastic market.

Automation Technologies

• Robotic Arms and Vision Systems: Enhancements in automation are driving efficiency and precision.
• Automated Quality Control: Implementation of automated quality control systems ensures higher standards.

Advanced Materials

• Demag Machinery: For instance, Omega Plastics installed new precision specialized demag machinery, allowing for the production of components with high dimensional accuracy.

Strategic Partnerships

Collaborations among industry leaders are fostering market growth.

 

MHT Mold & Hotrunner Technology AG and KEBO Partnership

• Blood Collection Tube Solutions: This partnership focuses on developing advanced blood collection tube solutions.
• Combined Expertise: MHT brings expertise in blood collection tube injection molds and PET hot runners, while KEBO contributes with high-performance injection molds and hot runner solutions.

 

Market Segmentation
The micro injection molded plastic market is segmented by types, machine types, and applications.

 

Types

• Liquid-Crystal Polymer (LCP)
• Polyether Ether Ketone (PEEK)
• Polycarbonate (PC)
• Polyethylene (PE)
• Polyoxymethylene (POM)
• Polymethyl Methacrylate (PMMA)
• Polyetherimide (PEI)
• Polybutylene Terephthalate (PBT)
• Other Types

Machine Types

• All-Electric Injection Molding Machines
• Hybrid Injection Molding Machines
• Hydraulic Injection Molding Machines

Applications

• Medical
• Automotive
• Optics
• Electronics
• Other Applications

Regional Insights

• Asia-Pacific: The largest region in the micro injection molded plastic market in 2023.

 

Conclusion
The micro injection molded plastic market is set for continued growth, driven by advancements in various industries, particularly automotive, and supported by technological innovations and strategic partnerships. As the market evolves, sustainable and bio-based alternatives are expected to play a more prominent role, reflecting broader industry trends towards environmental sustainability.

 

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The Micro Injection Molded Plastic Global Market Report 2024  provides a comprehensive outlook of the micro injection molded plastic market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The micro injection molded plastic market forecast offers a thorough analysis on micro injection molded plastic market size, micro injection molded plastic market share, prominent players and their strategies.

 

 

The Table Of Content For The Micro Injection Molded Plastic Market Include:
1. Micro Injection Molded Plastic Market Executive Summary
2. Micro Injection Molded Plastic Market Segments
3. Micro Injection Molded Plastic Market Size And Micro Injection Molded Plastic Market Growth Rate
4. Key Micro Injection Molded Plastic Market Trends
5. Major Micro Injection Molded Plastic Market Drivers
……
25. Key Mergers And Acquisitions In The Micro Injection Molded Plastic Market
26. Top Micro Injection Molded Plastic Companies
27. Micro Injection Molded Plastic Market Opportunities And Strategies
28. Micro Injection Molded Plastic Market, Conclusions And Recommendations
29. Appendix

 

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