by Liquid injection molding is a manufacturing technique used to produce complex, precision plastic parts and components. In this process, a liquid material such as polymer is injected into a heated cavity of a mold under high pressure where it cures into a solid taking the shape of the cavity. Products manufactured using liquid injection molding exhibit enhanced consistency, dimensional accuracy, and surface finish. The technology is extensively used in the medical industry for creating intricate prosthetics, medical implants, surgical equipment, and drug delivery devices. Components manufactured through liquid injection molding provide mechanical strength, resistance to chemicals, and biocompatibility required for medical applications. The global liquid injection molding market is estimated to be valued at US$ 10.77 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing adoption in medical industry: One of the major drivers for the growth of the liquid injection molding market is the increasing adoption of the technology in the medical industry. The precision and consistency offered by liquid injection molding makes it ideal for manufacturing intricate medical components and devices. The process helps create small and complex parts with tight tolerances required for medical applications such as implants. With the growing health awareness and demand for advanced medical technologies, the adoption of liquid injection molding is expected to rise substantially over the forecast period.
Precision manufacturing: Liquid injection molding enables precision manufacturing of plastic parts with complex geometries, tight tolerances, and smooth surface finish. The process helps achieve dimensional accuracy and part consistency on a large production scale. Owing to these advantages, liquid injection molding finds widespread use in various industries such as consumer goods, electronics, automotive, and others. The need for precision components across different application areas is projected to boost the demand for liquid injection molding during the forecast period.
Segment Analysis
The liquid injection molding market is dominated by the micro-components segment. Micro-components account for over 60% of the total market share as liquid injection molding is widely used for manufacturing small and complex components. The technique allows for mass production of intricate parts with tight tolerances and complex geometries which are required in various industries like medical, electronics and automotive.
PEST Analysis
Political: There are no significant political factors impacting the liquid injection molding market.
Economic: Rising disposable incomes and growing middle class populations in developing nations are driving demand for consumer electronics and automobiles, thereby boosting the liquid injection molding market.
Social: Increasing healthcare awareness and focus on quality of life has increased demand for medical devices, thereby positively impacting the liquid injection molding market.
Technological: Advancements in liquid injection molding technology have allowed for mass production of smaller and more complex parts. Sophisticated mold designs and control systems have enhanced production efficiency.
Key Takeaways
The global Liquid Injection Molding Market Growth is expected to witness high growth.
Regional analysis: North America dominates the market currently due to strong presence of key players and early technology adoption. Europe and Asia Pacific are promising markets and expected to witness fastest growth over the forecast period driven by increasing consumption in automotive and electronics industries.
Key players operating in the liquid injection molding market are Pfizer, Inc., F. Hoffmann-La Roche Ltd, Takeda Pharmaceutical Company Limited, Regeneron Pharmaceuticals Inc., Sanofi, Amgen Inc. Pfizer and Roche dominate the market with their extensive product portfolio and global distribution networks. Takeda and Amgen have significant market shares in the Asia Pacific region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
