Summary

Overview
Global Micro Injection Molded Plastic Market reached US$ 1.2 billion in 2023 and is expected to reach US$ 2.8 billion by 2031, growing with a CAGR of 11.2% during the forecast period 2024-2031.
During the forecast period, advancements in micro injection technology will be a primary factor in driving market growth. In November 2023, Milacron, a U.S. manufacturer of plastic manufacturing machinery, announced the launch of a new, fully automatic, precision micro injection molding model in partnership with FANUC, the provider of industrial automation solutions.
Ongoing shifts in the global manufacturing will most probably lead to difficult conditions for the future growth of the global market. Overall manufacturing growth in China, one of the biggest demand generators, has slowed in recent years, whereas, other countries like India are yet to full step up. It will create a brief period of reduced growth for the micro injection molded plastic market.
Dynamics
Recovery of Global Automotive Production
Despite the challenges of the pandemic, the global automotive sector has recovered remarkably well. Production data from the International Organization of Motor Vehicle Manufacturers (OICA) indicates that for 2023, the first full year of the post-pandemic period, nearly 93.5 million passenger and commercial vehicles were produced, representing a 10% increase from the previous year. A lot of this growth has also been due to the surge in electric vehicle production.
Automotive manufacturers are currently replacing steel and aluminum alloys with plastic composites in order to reduce vehicular weight and improve fuel economy. The trend has been carried forward in electric vehicles, with automakers seeking to extend battery range. An overall improvement in consumer sentiment is leading to a surge in automotive production, which in turn, will generate renewed demand for micro injection molded plastics.
Ongoing Development of Bio-Compatible Medical Equipment
Imbibing the lessons learnt from the COVID-19 pandemic, many medical equipment manufacturers have accelerated the development of bio-compatible plastics, to prevent issues of sking allergies and rashes which were encountered during emergency treatment of COVID-19 patients. Advances in new micro injection methods are also helping to hasten the development of new bio-compatible medical equipment.
In December 2023, a team of scientists from University of Montreal in Canada in collaboration with Adaptiiv Medical Technologies Inc., published a research paper detailing the development of interstitial caps for brachytherapy made from bio-compatible plastics and fabricated from a combination of 3D printing and injection molding.
Operational and Maintenance Challenges
Micro injection molding machines are highly sophisticated pieces of equipment with hundreds of different precision parts. Plastic producers choosing to invest in these machines must budget for high capital outlays, including for purchase, setup and maintenance. The machines have a much faster cycle time and hence consume significantly more energy than other traditional plastic injection molding machines. Another factor contributing to the high costs is the requirement of skilled personnel for operation and maintenance. Some machine makers even require employees to undergo official training before they are allowed to operate the injection molding machinery.
Segment Analysis
The global micro injection molded plastic market is segmented based on material, application and region.
Development of Electric Vehicles Will Propel Demand from the Automotive Industry
As the global automotive industry increasingly switches to electric vehicles, the demand for precision-molded plastic components will increase significantly. With major brands like Volkswagen announcing a shift towards an all-electric portfolio by 2035 and EV-sceptical companies like Toyota developing their own models, the industry will become a major demand source for injection molded plastics.
The field of consumer electronics will also witness a rise in plastics demand, especially due to the advent of flexible display screens. Since flexible displays will require casings with bendable form factor, the usage of injection molding for developing new cases. The consumer electronics sector will also become a leading demand source for micro injection molded plastics in the upcoming years.
Geographical Penetration
Asia-Pacific Poised for Significant Growth During the Forecast Period
The automotive and consumer electronic industries will be the chief sources of growth for micro injection molded plastic market during the forecast period. China will remain the largest domestic markets for these plastics, especially as it becomes the largest automotive exporter. A key advantage for Chinese end-users is the large production capacity of local plastics producers, which helps to keep down input costs.
A major trend that could accelerate during the forecast period is the pursuance of ‘China + 1’ strategy by multinational corporations looking to de-risk their supply chains away from China. Countries like Vietnam and India have received significant influx of investment in electronics manufacturing. Over the next few years, it will gradually lead to a diversification of demand for micro injection molded plastics in the region.
COVID-19 Impact Analysis
The pandemic created a limited period of uncertainty for the global market. Demand from the automotive and optics industries witnessed dramatic declines, as it was affected by pandemic lockdowns due to labor shortages and production disruptions. Medical equipment manufacturers, however, created a surge in demand, especially for producing intricate components for breathing apparatus and ventilators.
The overall global demand underwent a steady recovery in the post-pandemic period, with the automotive industry leading a strong resurgence. However, energy price volatility in wake of the Russia-Ukraine war created a brief period of uncertainty for the market. It is unlikely that this will alter the growth trajectory of the global market during the forecast period.
Russia-Ukraine War Impact Analysis
The war in Ukraine hampered the ability of Russia to source the latest micro injection molding machinery for the production of various military components. Russia is heavily reliant on South Korea and Japan for precision machine tools. Western sanctions haven’t disrupted the overall demand for micro injection molded plastics, especially as the entire Russian economy has shifted to war production mode.
The only major challenge currently facing the country is the lack of support expertise and spare parts for plastic micro injection molding machinery. The Russian government has officially legalized the concept of parallel imports, allowing local companies to import parts and assembled machinery through the grey market.
By Material
- Liquid Crystal Polymer (LCP)
- Polyetheretherketone (PEEK)
- Polycarbonate (PC)
- Polyethylene (PE)
- Polyoxymethylene (POM)
- Others
By Application
- Automotive
- Electronics
- Medical
- Optics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In December 2023, Nissha Medical Technologies Inc., a U.S.-based manufacturer of medical equipment, acquired a majority stake in Isometric Intermediate LLC, a micro injection molded plastics producer to develop a new line of injection molded medical plastic components.
- In January 2024, Arterex, a medical device contract manufacturer, announced the purchase of U.S.-based injection molding company Micromold along with the shifting of its production to Mexico.
Competitive Landscape
The major global players in the market include Accu-Mold, Paragon Medical, SMC Ltd., Spectrum Plastics Group, Isometric Micro Molding, Makuta, Inc., PreciKam, MTD Micro Molding, Microdyne Plastics Inc and Movacolor.
Why Purchase the Report?
- To visualize the global micro injection molded plastic market segmentation based on material, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of micro injection molded plastic market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global micro injection molded plastic market report would provide approximately 53 tables, 47 figures and 185 Pages.
Target Audience 2024
- Automotive Manufacturing Companies
- Medical Equipment Manufacturers
- Optical Instrument Manufacturers
- Industry Investors/Investment Bankers
- Research Professionals

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Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Material
3.2. Snippet by Application
3.3. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Recovery of Global Automotive Production
4.1.1.2. Ongoing Development of Bio-compatible Medical Equipment
4.1.2. Restraints
4.1.2.1. Operational and Maintenance Challenges
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Russia-Ukraine War Impact Analysis
5.6. DMI Opinion
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID-19
6.1.2. Scenario During COVID-19
6.1.3. Scenario Post COVID-19
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Material
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
7.1.2. Market Attractiveness Index, By Material
7.2. Liquid Crystal Polymer (LCP)*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Polyetheretherketone (PEEK)
7.4. Polycarbonate (PC)
7.5. Polyethylene (PE)
7.6. Polyoxymethylene (POM)
7.7. Others
8. By Application
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
8.1.2. Market Attractiveness Index, By Application
8.2. Automotive*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Electronics
8.4. Medical
8.5. Optics
8.6. Others
9. By Region
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
9.1.2. Market Attractiveness Index, By Region
9.2. North America
9.2.1. Introduction
9.2.2. Key Region-Specific Dynamics
9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
9.2.5.1. U.S.
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. Europe
9.3.1. Introduction
9.3.2. Key Region-Specific Dynamics
9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
9.3.5.1. Germany
9.3.5.2. UK
9.3.5.3. France
9.3.5.4. Italy
9.3.5.5. Spain
9.3.5.6. Rest of Europe
9.4. South America
9.4.1. Introduction
9.4.2. Key Region-Specific Dynamics
9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
9.4.5.1. Brazil
9.4.5.2. Argentina
9.4.5.3. Rest of South America
9.5. Asia-Pacific
9.5.1. Introduction
9.5.2. Key Region-Specific Dynamics
9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
9.5.5.1. China
9.5.5.2. India
9.5.5.3. Japan
9.5.5.4. Australia
9.5.5.5. Rest of Asia-Pacific
9.6. Middle East and Africa
9.6.1. Introduction
9.6.2. Key Region-Specific Dynamics
9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Material
9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10. Competitive Landscape
10.1. Competitive Scenario
10.2. Market Positioning/Share Analysis
10.3. Mergers and Acquisitions Analysis
11. Company Profiles
11.1. Accu-Mold*
11.1.1. Company Overview
11.1.2. Product Portfolio and Description
11.1.3. Financial Overview
11.1.4. Key Developments
11.2. Paragon Medical
11.3. SMC Ltd.
11.4. Spectrum Plastics Group
11.5. Isometric Micro Molding
11.6. Makuta, Inc.
11.7. PreciKam
11.8. MTD Micro Molding
11.9. Microdyne Plastics Inc.
11.10. Movacolor
LIST NOT EXHAUSTIVE
12. Appendix
12.1. About Us and Services
12.2. Contact Us