Polymer microinjection molding requires superfast machines with ultrafine precision and injection pressure to mold microsized tools and parts. Molding materials include polyethylene, polyoxymethylene, polylactic acid, polyether ether ketone (PEEK), acetal, polymethyl methacrylate (PMMA), and liquid crystal polymers (LCP).
Microinjection molding takes less time than micromachining, making the former preferred by the plastics industry. Demand for miniature materials in the industries of automotives, electronics, telecom, and medical will spur the polymer microinjection molding market during the forecast period.
The market is anticipated to attain around USD 897.3 million by 2020. Polymer microinjection molding is used to manufacture medical components like sensors, catheter tips, microoptics, and implants. Increasing demand from the medical industry is predicted to boost market sales in the future. Lack of technical knowledge in the regions of Latin America and Middle East can hamper the polymer microinjection molding market.
Automotives, telecom fiber optics, micro drive systems & control, and medical & healthcare are the market applications. Medical & healthcare was the leading application in 2012 on account of multiple minimally invasive surgeries. It has an expectant growth rate of 15.2% from 2013 to 2020 (forecast phase). Automotives were the second largest application in 2012.
This segment accounted for 25% of the polymer microinjection molding market in 2012. It is predicted to gain about USD 200 million by 2020, at 14.2% CAGR in the years ahead. Micro drive systems & control would exceed USD 120 million at 13.9% growth rate over the same phase.
Regions-wise, North America led the market in 2012. It gained more than 40% of the global revenues that year. Medical and automotive industries in the region contributed over 50% of the regional share. Europe had the second largest polymer microinjection molding market, contributing more than 38% of the total incomes in 2012. Demand for Europe will continue from medical devices made from biodegradable polymers.
Asia Pacific accounted for 14% of the overall revenues in 2012. It is projected to exceed USD 120 million, growing at nearly 15% CAGR in the next seven years. Players in the worldwide polymer microinjection molding market comprise Precimold Incorporation, Accu-Mold LLC, Makuta Technics, Sovrin Plastics, and Rapidwerks.
