The global Polymer Microinjection Molding market is forecast to reach USD 2.16 Billion by 2027, according to a new report by Reports and Data.  Polymer microinjection polymers are mainly used in the manufacture of products of small size that usually require ultra-fine molding resolution. Applications such as Microdrive system, automobile, medical & healthcare, mobile fiber optics, Microdrive system.

Increasing demand for polymer microinjection molding from the medical and healthcare industry is a crucial driver for market growth, as it is used in catheter parts, implants, blade holders, dental prostheses, and hearing aids. Probable uses for polymer microinjection molding are supposed to be microfluidics and micro-optics. In the coming years, growing demand for micro fluids and optics are expected to open up novel opportunities for market players. Nevertheless, likely, the lack of knowledge of micro molding and its high costs in developing regions would serve as a significant constraint in the growth of the global microinjection molding market.

The new trend towards replacing phthalate-containing polymers such as PVC with thermoplastics combined with the growing demand for micro-materials has spurred the use of micro molding. The process takes relatively less time to mold the components. It uses feedstock at low prices. However, lack of awareness of the benefits offered by micro molding is expected to impede market growth over the years, mainly in underdeveloped countries.

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Key participants include Accu-Mold LLC, ALC Precision, Stamm AG, Sovrin Plastics, American Precision Products, Makuta Technies Inc., Micromolding Solution Inc., Stack Plastic Inc., Precimold Incorporation, and Rapidwerks, among others.

The COVID-19 impact:
With the slowdown in global economic growth, the Polymer Microinjection Molding industry also suffered some impact but maintained a relatively positive performance; analysts believe that the size of the market will be further expanded in the next few years. The pandemic's debilitating effect has delayed demand resumption, both domestic and overseas. But by the end of the crisis, it is anticipated that the sale for polymer microinjection molding would rise because of more demand in the healthcare sector. The market due to high demand in the medical segment is anticipated to boom. The need for masks, shields, and various equipment has increased the market.

Further key findings from the report suggest

Medical and healthcare applications dominated the market and represented 35.3% of the total market in 2019. The rapid evolution of microfluidics technology, mainly in North America and Europe, is expected to drive the market in the medical & healthcare segment over the forecast period.

Molded products slowly replaced machined components that have traditionally been used in the industry. The rising trend of small devices, coupled with the increasing number of minimally invasive surgeries per day, has boosted demand from medical device manufacturers for micro-sized parts. Cost reductions are the main advantage of microinjection molding.

North America emerged as the leading market, followed by Europe. U.S. application growth has been a critical factor for the penetration of micro molded polymer in the field.

In the Asia Pacific, micro molding is still in its infancy process, with Japan taking much of the Asia Pacific market. However, the region has excellent growth potential in the near future and is expected to grow from 2019 to 2027 at an estimated 13.9% CAGR.

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For the purpose of this report, Reports and Data have segmented into the global Polymer Microinjection Molding market on the basis of type, product type, application, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

Polyether Ether Ketone

Polymethyl methacrylate

Polyethylene

Polyoxymethylene

Liquid Crystal Polymer

Polylactic Acid

Product Type Outlook (Revenue, USD Billion; 2017-2027)

Thermosets

Elastomers

Thermoplastics

Application Outlook (Revenue, USD Billion; 2017-2027)

Automotive

Medical & Healthcare

Telecom Fiber Optics

Micro Drive System & Control

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Regional Outlook (Revenue, USD Billion; 2017-2027)

North America

Europe

Asia Pacific

MEA

Latin America

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