The micro injection molded plastic market size is estimated to be USD 995 million in 2021 and is expected to reach USD 1,692 million by 2026, at a CAGR of 11.2% during the forecast period. Factors such as increasing demand in the automotive sector and rising demand from medical applications are the driving factors. The growing adoption of electric vehicles is a major growth opportunity for the market players. However, its high cost of machine maintenance restricts the growth of the micro injection molded plastic market.
The key market players profiled in the report include Accumold LLC (US), Isometric Micro Molding, Inc. (US), Makuta Micro Molding (US), Precimold Inc. (Canada), MTD Micro Molding (US), Microsystems Precision Medical Moulds (UK), Veejay Plastics Injection Molding Company (US), Knightsbridge Plastics Inc.(California), Polymermedics Ltd. (UK), Manner Solutions For Plastics (Germany), Microdyne Plastics, Inc. (US), SMC Ltd. (US), Mikrotech (US), Sovrin Plastics (UK), Stack Plastics (US), American Precision Product(US), D&M Plastics, LLC (US), Paragon Medical (US), Micro Molding Inc. (US), Spectrum Plastics Group, Inc. (US), Matrix Plastic Products (US), Yomura Technologies Inc (Taiwan), and Barnet Intelligent Materials (US) among others.
Players in the micro injection molded plastic market are mainly concentrating on agreements, partnerships, and expansion to meet the growing demand for micro injection molded plastic for various applications.
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The growth of the micro injection molded plastic market has been largely influenced by agreement and expansion that were undertaken between 2016 and 2020.
Accumold LLC was the largest player in the micro injection molded plastic market in 2020. Accumold LLC is world leader in micro injection molding market. It holds expertise for 30 years in this field. The company offers micro injection molding for medical, automotive, fiber optics, electronics and other application. Accumold LLC micro molding specializes in producing extraordinarily small plastic parts that require extreme precision. The micro molded parts manufactured are commonly measured in microns. The company also produces small-size parts with micro features, mold in and around existing components, and create components using intricate lead frames or inserts.
As a part of its business strategy, the company is focusing on expanding its global presence to strengthen its leadership in the market. It is also increasing its global foothold to achieve a strong customer base in emerging as well as developed markets.
Paragon Medical was the second-largest player in the micro injection molded plastic market in 2020. Paragon Medical is a medical manufacturer, helping accelerate new product development with medical device manufacturing and high-precision components for everything from implants and surgical instrumentation to single-use disposable devices and assemblies. It has global locations in US, China, Poland, Switzerland and Japan which offers complete custom device services which focuses entirely on healthcare markets
Microdyne Plastics, Inc. offers services for injection molding, blow molding, design engineering tooling and post-production. The company has also developed skills for micro-precision molding. The company offers to design the precise mold to produce injection molded products with demanding micro-tolerances. It holds capacity to manufacture over 1 million parts per day but we can also produce successful shorter runs of high value, high-end specialty medical devices.
Micro Injection Molded Plastic Market by Material Type (Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM)), Application and Region - Global Forecast to 2026
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