Market Insights
Thermoplastic micromolding is a highly specialized manufacturing technique that primarily creates high-precision thermoplastic components and parts. This method creates fully functional pieces by injecting plastic resin into a mold that has already been created. There are many subcategories within it, such as rapid injection moulding. To improve the quality of the finished products, a variety of materials including polyetherketone, liquid crystal polymer, polyoxymethylene, polycarbonate, polyamide, and polyethylene are employed.
During the pandemic, all manufacturing industries were adversely affected, as their production units were either shut down or halted operations temporarily. This way, COVID-19 lockdown decreased the demand for thermoplastic micromolding from manufacturing industries in the short term. Also, the supply chain disruptions considerably affected the growth of the market.
Key factors propelling the growth of the market are expanding uses of thermoplastic micromolding in the production of micromechanical parts and rising demand from the medical industry. Additionally, it is anticipated that expanding automobile demand would be advantageous for the market. Overall, the thermoplastic micromolding market is set to grow at a CAGR of 6.5% over the next five years.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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End-User Industry-Type Analysis
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Automotive, Electronics, Medical, Packaging, and Others
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Automotive Industry is expected to remain the biggest demand generator for the thermoplastic micromolding in the market over the next five years.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Asia-Pacific is expected to remain the largest and fastest-growing market over the next five years.
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Based on the end-user industry type, the market is segmented into automotive, electronics, medical, packaging, and other end-user industries. The automotive industry is the biggest demand generator for thermoplastic micromolding in the market. Micromolding technology has been used by the automotive industry for more than a decade. It is mostly used for interior components such as sensor and rotor housings, micro gear wheels, etc. Additionally, thermoplastic micromolding supports weight reduction in vehicles, which ultimately contributes to raising the effectiveness and efficiency of the vehicles.
In terms of regions, Asia-Pacific is expected to remain the largest market for thermoplastic micromolding during the forecast period owing to the region's ongoing investments in the advancement of medical, packaging, and aerospace technology over the years, as well as the highly developed automotive and automation sectors in China, Korea, and Japan. The recent expansion of production and assembly facilities for automotive and aerospace parts in the region is anticipated to soon open up opportunities for the use of thermoplastic micromolding.
Key Players
The following are the key players in the thermoplastic micromolding market:
- Accumold
- Stack Plastics
- Makuta Technics Inc.
- SMC Corporation
- MTD Micro Molding
- American Precision Products
- DONGGUAN SINCERE TECH Co. Ltd.
- Isometric Micro Molding Inc
- Kamek Precision Tools
- Veejay Plastic Injection Molding Company
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s thermoplastic micromolding market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The thermoplastic micromolding market is segmented into the following categories:
Thermoplastic Micromolding Market, by Material Type
- Liquid Crystal Polymer (LCP) (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Polyether Ether Ketone (PEEK) (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Polyphenylene Sulfide (PPS) (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Thermoplastic Micromolding Market, by End-User Industry Type
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Medical (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Packaging (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Other End-User Industries (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Thermoplastic Micromolding Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, South Korea, India, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
