The According to a market research report, the “Micro Injection Molding Machine Market by Type (0-10 tons, 10-30 tons, and 30-40 tons), Application (Medical, Automotive, Fiber Optics, Electronics), Region (North America, Europe, Asia-Pacific, South America, MEA) – Global Forecast to 2028″, is projected to reach USD 0.7 billion by 2028, at a CAGR of 9.9% from USD 0.5 billion in 2023.
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The introduction of micro injection molding technology has been driven by the rising need for products that are considerably miniature across industries. Micro injection moulding is a popular option because the electronics and medical device sectors, in particular, demand tiny components with exceptional precision. The development and expansion of the micro injection molding market have been greatly influenced by improvements in production technologies. Automation, robotics, and computerized control system integration have improved the effectiveness and precision of the manufacturing process, making it possible to produce complex microparts with ease. The consumer electronics industry’s push towards miniaturization has increased demand for micro-injection molding
This report also provides a comprehensive analysis of the companies listed below:
The key players in micro injection molding machine market are Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd. (Japan), Sodick Co., Ltd. (Japan), and Hillenbrand Inc. (US). They have implemented strategies such as new product launches, acquisitions, and collaboration in order to gain a benefit over their competitors.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the micro injection molding machine market.
Recent Developments in Micro Injection Molding Machine
- In 2022, Engel Austria GmbH invested 11 million euros in building its robot production plant in Dietach, Austria. This expansion will provide about 3000 m² of floor space in the existing plant area.
- In 2020, for the market launch of its new micro-injection unit for liquid silicone rubber, Engel Austria GmbH produced the tiniest precision parts with a weight of 0.0013 grams for the field of ophthalmology. This is accomplished using an all-electric, tie-bar-free ENGEL emotion 50/30 TL injection molding machine. The new LSR micro-injection device combines the highest level of accuracy with the greatest degree of flexibility and affordability.
- In 2023, Sumitomo Heavy Industries, Ltd. pioneered the sale of the all-new -small-sized iM 18E hybrid injection molding machine, which has the smallest footprint and offers accurate and high-speed molding technology.
- In 2021, Nissei Plastic Industrial Co., Ltd. merged its US sales subsidiary Nissei America Inc. (California), and production subsidiary Nissei Plastic Machinery Inc. (Texas) to enhance their global production and sales structures.
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Based on type, The micro injection-molding machine market is divided into three types based on type: 0-10 tonnes, 10-30 tonnes, and 30-40 tonnes. During the period of forecasting, the 30 to 40 tonnes clamping force segment is anticipated to rule the micro injection molding machine market. The demand for micro injection-molding machines with clamping forces of 30 to 40 tonnes is being driven by the demand for micro molded plastic parts in automotive, electrical, and medical applications. However, during the projected period, tiny injection-molding machines with clamping forces of 0 to 10 tonnes are anticipated to increase at the highest CAGR. The demand for smaller, more precise parts is rising as more industries, including those in the medical, automotive, fiber optics, and electronics, move towards using nanotechnology.
Based on application, The micro injection-molding machine market has been divided into segments based on application, including medical, automotive, fiber optics, electronics, and others. The micro injection-molding machine market was dominated by the medical sector. Micro components are increasingly being used in medical procedures as a result of technical advancements in the field of medicine, which improve patient outcomes overall. Intensified R&D is driving up demand for micro injection molding equipment in the medical industry as well as for medical micro parts. The second-largest market for micro injection-molding machines is in the automotive industry. The need for precise parts in the automotive industry is rising as a result of continuous automation and the uptake of electric vehicles.
On the basis of region, Asia Pacific has the fastest rate of growth in the global micro injection molding machine market. China has the largest market for micro injection-molding machines in the Asia Pacific. The demand for micro injection-molding machines in the area is anticipated to continue growing domestic demand as a result of the quick expansion of manufacturing facilities and other commercial units. It is anticipated that initiatives for new technologies and goods, along with rising population and demand, would turn this region into a potential micro injection molding machine market. The region’s automotive and electronics industries will be greatly impacted by the expanding population.
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