by Liquid injection molding is a manufacturing process used to create complex, high precision parts and components from liquid plastics or liquid silicone rubber. Parts produced through liquid injection molding process find wide applications in the medical devices industry owing to properties like bio-compatibility and precision.
The global Liquid Injection Molding Market is estimated to be valued at US$ 12.41 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand from the medical devices industry has been a key growth driver for the global liquid injection molding market. Medical devices such as drug delivery devices, prosthetics, surgical components etc. require highly precise components and parts which can be produced through liquid injection molding process. According to estimates, medical device sales grew at over 4% annually between 2018 to 2021. This growth in the medical devices industry has led to increased demand for liquid injection molded components and parts. Further, increasing investments by major players to expand their production capacities focused on medical applications is also expected to boost the market during the forecast period.
SWOT Analysis
Strength: The liquid injection molding market allows for mass production of complex geometries with tight tolerances. It provides design freedom for intricate components.
Weakness: The process requires specialized equipment which demands high initial investment. Liquid injection molding generates more waste than traditional plastic molding techniques.
Opportunity: Growing demand for miniaturized and lightweight components from industries like consumer electronics and medical devices can boost the liquid injection molding market. Technological advancements are lowering costs.
Threats: Volatility in raw material prices is a major threat. Slow adoption of new technologies in some industries also limits the market growth.
Key Takeaways
The global liquid injection molding market demand is expected to witness high growth over the forecast period of 2024 to 2031. The global Liquid Injection Molding Market is estimated to be valued at US$ 12.41 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
The Asia Pacific region currently dominates the market owing to presence of major electronics manufacturers. China accounts for the largest share in the regional market followed by other Asian countries like Japan and South Korea.
Key players operating in the liquid injection molding market include Company A, Company B, Company C and Company D. These players are focusing on capacity expansion and new product development catering to emerging applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
