The liquid injection molding market provides numerous advantages over conventional plastic molding processes such as lower cycle times, reduction in part weight, and intricate part design flexibility. Liquid injection molding involves mixing liquid silicone or thermoplastic with additives before injecting it into a mold under high pressure. The growing demand for medical devices and electronics, where liquid injection molding plays a crucial role in producing miniaturized complex components, is primarily driving the market growth.
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 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. Key players are focusing on new product launches and expansions to strengthen their market position.
The growing demand for miniaturized medical devices and electronics is a major factor driving the growth of the global liquid injection molding market. Liquid injection molding allows the production of smaller and more complex parts with intricate designs which fits the requirements of the medical devices and electronics industries.
The global liquid injection molding market is witnessing significant expansion especially in the Asia Pacific region due to shifting of production facilities by major players to the region. Countries like China, India, and South Korea offer lower production costs which is attracting liquid injection molding manufacturers. Additionally, the growing demand for electronics and medical devices from emerging economies is bolstering market growth.
Market drivers
The rise in the demand for medical devices across the globe is a key factor spurring the growth of The Liquid Injection Molding Market. Liquid injection molding plays a crucial role in producing small and complex components used in miniaturized implantable medical devices. The growing prevalence of chronic diseases and the rising geriatric population are increasing the demand for medical devices globally which acts as a demand driver for the liquid injection molding market.
Current geopolitical situation is significantly impacting the growth of Liquid Injection Molding Market. Ongoing wars and conflicts in key regions like Europe, Middle East and Central Asia are disrupting supply chains and logistics. Rising commodity prices and energy costs due to sanctions on major exporters are negatively affecting the profit margins of manufacturers. Geopolitical uncertainties are dampening investments in new production facilities. Material shortages arising from trade restrictions are hindering the production volumes.
To counter adverse effects, companies in the market are localizing their supply networks and finding alternative sources. They are optimizing cost structures and operational efficiencies to offset inflationary pressures. Manufacturers are focused on developing sustainable and recyclable materials to cater to rising environmental consciousness. Partnerships with regional players can help gain access to local resources and markets with less supply chain vulnerabilities. Diversifying production footprint across different geographies with political stability can mitigate risks from future geo-strategic developments.
In terms of value, North America currently holds the largest share in the global Liquid Injection Molding Market mainly due to strong presence of automotive and electronics industries. Asia Pacific is projected to emerge as the fastest growing regional market between 2024 to 2030 driven by increasing consumption in China, India and ASEAN countries. Large population, rising incomes and rapid industrialization are fueling the demand growth. Supportive government policies are encouraging investments to develop domestic manufacturing capabilities.
Europe accounts for a substantial share owing to massive automotive sector and presence of major medical device companies. Recovery in the post-pandemic period alongside green initiatives are reinstating the market momentum. South America and Middle East & Africa offer huge untapped potential with expanding middle class and improving economic conditions.
According to recent studies, North America captured approximately 35% of global market value in 2024 primarily led by United States. Availability of advanced infrastructure and giant consumer base have cemented North America’s leading position. However, Asia Pacific is expected to witness highest CAGR of over 6% during the forecast years on back of China plus other emerging Asian economies pursuing developmental agendas vigorously.
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