February 21, 2024
Liquid Injection Molding Market

Liquid Injection Molding Market Driven by Increasing Usage of Lightweight Materials

The liquid injection molding (LIM) process allows manufacturers to make complex, near-net-shape parts from a wide range of materials. LIM is commonly used to manufacture automotive interior trim components, exterior body panels, medical devices, footwear components, and electrical/electronic parts. The ability to mold intricate designs from various thermoplastic and thermosetting polymers has made LIM a favorable manufacturing technique. LIM also reduces waste and eliminates many post-molding processes since it produces near-net-shaped parts.

The global liquid injection molding market is estimated to be valued at US$ 12.41 million 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:

One of the major trends driving growth of the liquid injection molding market is the increasing demand for lightweight materials across various end-use industries such as automotive, aerospace, and consumer goods. LIM caters to this demand as it allows manufacturers to produce complex, lightweight parts from a variety of engineering-grade thermoplastic and thermosetting polymers. Lightweight LIM parts help reduce vehicles’ weight and improve fuel efficiency. In the aerospace industry, LIM helps manufacture durable yet lightweight components that boost aircraft performance. The consumer goods sector is also increasingly adopting LIM to manufacture slimmer, ergonomic products without compromising on strength or design aesthetics. Owing to its lightweight capability and near-net-shaping characteristics, liquid injection molding continues to gain widespread acceptance across diverse manufacturing applications.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the liquid injection molding market is moderate as it requires huge investments in setting up manufacturing plants and R&D facilities. However, many new small players are entering the market with niche product offerings.
Bargaining power of buyers: The bargaining power of buyers in the liquid injection molding market is high due to the presence of numerous product alternatives in the market. Buyers can easily switch to substitutes if quality requirements are not met.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers in the market. However, suppliers of specific advanced polymers have some pricing power.
Threat of new substitutes: The threat of substitutes is moderate as alternative injection molding technologies such as metal injection molding, resin transfer molding offer similar properties at comparable prices.
Competitive rivalry: The competitive rivalry in the market is high due to presence of large number of global and regional players offering innovative solutions.

Key Takeaways

The Global Liquid Injection Molding Market Demand is expected to witness high growth over the forecast period. The global liquid injection molding market is estimated to be valued at US$ 12.41 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Regional analysis
North America is expected to dominate the global liquid injection molding market during the forecast period. Major automotive component manufacturers such as General Motors, Ford, and Tesla are based in the US and Canada driving significant demand for liquid injection molding technology. The market in Asia Pacific is projected to grow at the fastest pace during the forecast period with China expected to account for the lion’s share of the regional market.

Key players
Key players operating in the liquid injection molding market are Panasonic, Micromold Products, American Precision Products, and Molex. Micromold Products specializes in liquid injection molding of precision micro-components. American Precision Products focuses on liquid injection molding of circuit boards and connectors. Panasonic offers a diverse portfolio of liquid injection molded components for automotive and industrial applications.

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