April 21, 2024
Liquid Injection Molding Market

Liquid Injection Molding Market is Estimated to Witness High Growth Owing to Rapid Advancements in Medical Devices Industry

Liquid injection molding is a process in which liquid thermosetting polymers are precisely dosed and injected into molds under controlled temperature conditions to manufacture complex parts with tight tolerances. The molded components find widespread applications in the medical, electronics, automotive and consumer goods industries. The global demand for medical devices has increased significantly over the years due to the rising disease burden and growing aging population globally. Advanced liquid injection molding technologies aid in producing high-precision medical device components with intricate designs.

The Global Liquid Injection Molding Market is estimated to be valued at US$ 12.41 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Liquid Injection Molding market are Arlanxeo, Asia Polymer Corporation, Benson Polymers Limited, Braskem, Celanese Corporation, Clariant AG, Dow, ExxonMobil Corporation, Hanwha, Solutions/Chemical Corporation, Innospec Inc., LyondellBasell Industries Holdings BV, Repsol, Sipchem, SK Global, Sumitomo Chemical Co. Ltd, and Tosoh Corporation.

The key opportunities in the market include growing demand for medical devices from emerging economies of Asia Pacific and Latin America. Rapid urbanization and rising per capita income in these regions is supporting the growth of healthcare infrastructure and adoption of advanced medical technologies.

Key technological advancements in the market include development of multi-shot liquid injection molding process which allows the integration of different materials and properties into a single component. 3D printing technologies are also being coupled with liquid injection molding to enable production of complex parts with embedded electronics.

Market drivers
The major driver for The Liquid Injection Molding Market is the increased use of medical devices. As diseases are on the rise worldwide, advanced medical technologies are being used increasingly. Liquid injection molding helps produce tiny and complex components used in devices with high precision. This has supported the growing demand from the medical industry. Stringent regulations regarding device safety have also boosted the usage of the liquid injection molding process which enhances quality control.

Current challenges in Liquid Injection Molding Market:
The liquid injection molding market faces various challenges such as volatile raw material costs, patent infringement issues, and stringent government regulations regarding materials usage. Plastics are derived from petroleum-based feedstock, and fluctuation in crude oil prices directly impacts the procurement cost of raw materials for liquid injection molding manufacturers. Ensuring compliance with various health, safety, and environment regulations regarding use of materials adds to production cost. Lack of skilled workforce and technological expertise is another challenge for market players, especially in price-sensitive developing markets.

SWOT Analysis
Strength: Easy production of complex parts/shapes using liquid injection molding technology. Liquid molding offers design flexibility to manufacturers.
Weakness: High initial investment cost required for setting up liquid injection molding facility. Issues related to material wastage and recycling unused material.
Opportunity: Growing demand for miniaturized and customized parts from industries like consumer electronics and healthcare. Shift towards sustainable materials like bio-based polymers presents new opportunities.
Threats: Stiff competition from alternative technologies like 3D printing. Rising popularity of reusable and refillable packaging reduces demand for plastic components. Stringent regulations on VOC emissions act as a restraint.

The United States holds the major share of the global liquid injection molding market, both in terms of value and volume. This is attributed to robust electronics and automotive manufacturing sectors in the country. Asia Pacific is anticipated to witness the fastest growth during the forecast period due to rising disposable incomes, growth in automotive sales, and expansion of consumer electronics industry across China and India. In Europe, countries like Germany, UK, and Italy contribute significantly to the regional market.

In terms of value, Asia Pacific is the second major geographical region for liquid injection molding market concentrated. Rapid industrialization and urbanization along with growing middle class population drives the demand for appliances, consumer electronics and medical devices in emerging economies of China and India making Asia Pacific the fastest growing region for liquid injection molding market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it