Micro Injection Molding Machine Market

The micro injection molding machine market size is estimated to be USD 0.5 billion in 2023 and is projected to reach USD 0.7 billion by 2028, at a CAGR of 9.9% between 2023 and 2028. The major drivers of this market are growth in the automotive sector and rising demand for medical applications. The demand for automobiles is significantly increasing in emerging countries due to rising populations and modernization. The number of medical procedures such as cosmetic, dental, and aesthetic has increased due to the rising aged population, increasing disposable income, accessibility of advanced technologies, and extending procedural safety. The prominence of these procedures across the world promotes the micro injection molding machines market. APAC is the key market for micro injection molding machines globally, followed by Europe, North America, South America, and the Middle East & Africa in terms of value.

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Market Dynamics

Driver: Growth in the automotive sector fueling demand for micro injection molding machine

One of the key factors driving the market for micro injection molding machines, so the theory goes, is the expanding automobile industry. For numerous interior automobile parts, such as interior buttons and switches, various kinds of clip washers, door-lock components, gears, encoders for electronic modules, and so forth, micro injection molding is a common technique. Since these are the most crucial components in the automotive production sector, the market for micro-injection molding machines is anticipated to grow throughout the forecast period due to rising automobile demand. Automobile demand is rising significantly in China, India, South Korea, and Japan. This is propelling the growth of the micro injection molding machine market in the Asia Pacific.

Restraints: Extreme initial and maintenance costs of machines

An all-electric micro injection molding machine has the best acceleration performance, improved repeatability, and shorter injection times because of dynamic servo motors. The high investment costs of all-electric equipment are caused by their advanced technology. The costly maintenance is yet another drawback. As the entire system must be replaced in the issue of motor failure, maintenance costs can be extremely expensive.

Despite being less expensive than electric equipment, hydraulic injection machines still use a lot of electricity. Every stage of the molding process involves the hydraulic motor operating at maximum power, which results in high electric energy expenditures. The hydraulic motor is connected to an electric power unit. Typically, a hydraulic micro-injection molding machine uses 0,4 kWh of energy. The motor oil is another drawback because it needs to be updated because it loses its viscosity after a few hours of use. The use of motor oil has high maintenance expenses since it needs to be replaced, and its disposal has a detrimental environmental impact. The price of preventative maintenance has a big impact on the price of manufacturing.

Opportunities: Rising trend of electric vehicles increases demand for microinjection molds

One of the main factors propelling the market for micro injection molding machines is the strong position of the automobile industry. Electric vehicles are made up of a variety of electronic components, including a DC converter, all-electric auxiliary, electric traction motor, traction battery pack, electric gearbox, and others. These electronic components are made up of different microcomponents. During the creation of an electric car, these tiny parts are crucial. Micro injection molding equipment is used to produce these intricate, tiny components. The rising demand for electric vehicles is anticipated to have a favorable impact on the growth of the micro injection molding machine market since they require more tiny injection molded items than ICE vehicles.

Micro Injection Molding Machine Market Ecosystem

Prominent companies in this market include well-established, financially stable micro injection molding machines. These businesses have been in business for a while and have an extensive range of products, pioneering technologies, and strong international sales and marketing networks. Top companies in this market include Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd. (Japan), Sodick Co., Ltd. (Japan), and Hillenbrand Inc. (US).

Based on application, Medical is estimated to be the largest application of micro injection molding machine market forecast period.

Micro components are increasingly being used in medical procedures as a result of technical advancements in the field of medicine, which improve patient outcomes overall. Intensified R&D is driving up demand for micro injection molding equipment in the medical industry as well as for medical micro parts. Rising chronic diseases across the world have led to the development of nanotechnology and miniaturization in the medical sector. Growing miniaturization in medical equipment tends to rely on the micro-injection molded components for the care of critical patients within and outside of the body. This developed miniaturization propelled the demand for micro-injection molding machines.

Based on type, the 30 to 40 tons clamping force segment is the largest type of micro injection molding machine for the micro injection molding machine market in 2022.

As the demand for small precision parts is increasing in automotive, electronics, and medical applications due to the increasing trend of miniaturization, the requirement for micro-injection molding machines is also expected to increase. These factors are driving the demand for micro-injection molding machines with a clamping force of 30 to 40 tons.

“Asia Pacific is expected to be the largest micro injection molding machine market during the forecast period, in terms of value.

In terms of value, In Asia Pacific, China is the largest micro injection molding machine market. Due to extreme growth in manufacturing industries and other commercial units, there is an increase in domestic demand which is expected to propel the demand for micro-injection molding machines in Asia Pacific.  The expanding population will have a considerable impact on the automotive and electronics industry in the region. The development in the number of on-road commercial vehicles influences the growth of the micro injection molding machines market in the automotive industry. The increase in production facilities in the region is a major contributor to the market. Because of rapid development in the healthcare industry and the move towards nanotechnology, the Medical sector is rising, which can favorably impact the micro injection molding machines market.

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Key Market Players

The key players profiled in the report include Sumitomo Heavy Industries Ltd. (Japan), Engel Austria GmbH (Austria), Nissei Plastic Industrial Co., Ltd. (Japan), Sodick Co., Ltd. (Japan), and Hillenbrand Inc.  (US). and among others, are the key manufacturers that have held major market share in the last few years. The major focus was given to acquisition, innovation, and new product development due to the changing requirements of users across the world.

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Scope of the Report

This report categorizes the global micro injection molding machines market based on product type, application, and region.

On the basis of Type, the micro injection molding machine market has been segmented as follows:

• 0-10 tons,
• 10-30 tons
• 30-40 tons

On the basis of application, the micro injection molding machine market has been segmented as follows:

• Medical
• Automotive
• Fiber Optics
• Electronics
• Others

On the basis of region, the micro injection molding machines market has been segmented as follows:

• Asia Pacific
• North America
• Europe
• Middle East & Arica
• South America

Recent Developments

• In 2022, Engel Austria GmbH invested 11 million euros in building its robot production plant in Dietach, Austria. This expansion will provide about 3000 m² of floor space in the existing plant area.
• In 2020, for the market launch of its new micro-injection unit for liquid silicone rubber, Engel Austria GmbH produced the tiniest precision parts with a weight of 0.0013 grams for the field of ophthalmology. This is accomplished using an all-electric, tie-bar-free ENGEL emotion 50/30 TL injection molding machine. The new LSR micro-injection device combines the highest level of accuracy with the greatest degree of flexibility and affordability.
• In 2023, Sumitomo Heavy Industries, Ltd. pioneered the sale of the all-new -small-sized iM 18E hybrid injection molding machine, which has the smallest footprint and offers accurate and high-speed molding technology.
• In 2021, Nissei Plastic Industrial Co., Ltd. merged its US sales subsidiary Nissei America Inc. (California), and production subsidiary Nissei Plastic Machinery Inc. (Texas) to enhance their global production and sales structures.

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