April 23, 2024
Liquid Injection Molding Market

Liquid Injection Molding Market estimated to grow owing to Increasing Adoption in Medical Devices

The liquid injection molding market has witnessed significant growth in recent years owing to the rising adoption of the technology across various industries such as healthcare, automotive, consumer goods and electronics. Liquid injection molding is a plastic processing technique used to manufacture complex high precision parts with intricate details. In this process, a liquid polymer formulation is injected into a metal mold at precise metering, mixing and temperature to produce parts with smooth surface finish without visible weld or joint lines. Parts manufactured through liquid injection molding exhibit qualities such as dimensional stability and repeatability. The growing demand for miniaturization and complexity in components across industries has fueled the use of liquid injection molding.

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: Key players operating in the liquid injection molding market include 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 opportunities: The growing demand from the medical devices industry for producing miniaturized and complex components is creating lucrative opportunities for players in the liquid injection molding market. Additionally, the rising use of liquid injection molding in consumer electronics is augmenting the market growth.

Global expansion: Leading liquid injection molding manufacturers are investing in global expansion plans to leverage the untapped potential across emerging countries. Partnerships with OEMs and contract manufacturing organizations are helping companies penetrate regional markets.

Market drivers

Increasing adoption in medical devices is a key driver propelling The Liquid Injection Molding Market Growth. The technology aids in manufacturing intricate small sized parts used in devices with improved design flexibility. Rapid evolution of medical technology requiring miniaturized product forms has accelerated liquid injection molding adoption. Growing geriatric population and chronic disease burden worldwide have increased the demand for medical devices, which bodes well for liquid injection molding demand.

PEST Analysis

Political: Regulations on use of plastics can impact demand for liquid injection molding. Stricter environment laws can decrease use of certain materials.

Economic: Economic growth increases disposable incomes boosting sales of consumer goods using liquid injection molding. Recession decreases manufacturing activities reducing demand.

Social: Increasing health awareness increases demand for medical products made via liquid injection molding. Growing urban population prefers packaged, engineered goods boosting market.

Technological: Developments in materials and processes lead to new applications in electronics, automotive boosting market. Use of robotic automation in manufacturing can lower costs and increase efficiency of production.

North America and Europe account for over 50% of global market value. Both regions have large automotive and packaging industries driving demand. Wide applications in consumer goods and medical sectors also support market.

The Asia Pacific region is growing the fastest due to rising manufacturing activity, increasing industrialization and urbanization. Countries like China and India have become major manufacturing hubs globally and see high production of consumer durables, electronics which spur liquid injection molding use.

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