Liquid Injection Molding Is Estimated To Witness High Growth Owing To Opportunity In Medical Devices

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Liquid Injection Molding Is Estimated To Witness High Growth Owing To Opportunity In Medical Devices

Liquid injection molding (LIM) is a manufacturing process used to mold liquid plastics and elastomers into precision three-dimensional parts and products through the use of micro-injection molds. LIM technology enables the mass production of precise and durable parts used in various industries like medical, electronics, automotive, consumer goods, and more. It provides designers and manufacturers flexibility to create intricate and complex parts with details as small as 0.005 inches. With growing demand for miniature and micro-scale medical devices, liquid injection molding has become a preferred manufacturing technique.

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 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The growing demand for minimally invasive medical procedures and devices presents a significant market opportunity for liquid injection molding. Miniaturization of medical devices allows for less invasive surgeries and procedures, quicker recovery times for patients, and more favorable clinical outcomes. LIM technology facilitates the mass production of intricate micro-scale components for various medical devices like surgical instruments, needles, catheters, implants, and more. As new advancements continue to emerge in fields like robotics-assisted surgeries, drug delivery technologies, and interventional radiology, the demand for even smaller and more complex medical devices is expected to rise rapidly over the forecast period. This will drive increased adoption of liquid injection molding for manufacturing miniature parts and components.

Porter's Analysis

Threat of new entrants: Low barriers to entry allow potential new players to enter the market easily. However, existing players have strong brand recognition and supply chain established.

Bargaining power of buyers: Buyers have medium to high bargaining power as there are many established players providing similar products. Buyers can negotiate on price and quality.

Bargaining power of suppliers: Suppliers have medium bargaining power as raw materials require specialized production process. Switching costs are medium for established players.

Threat of substitutes: Potential threat from substitutes like blow molding and rotomolding. However, established use of liquid injection molding in medical and electronics gives it an advantage.

Competitive rivalry: Intense competition among key players to gain market share. Players competitie on price, product quality, reliability and innovation.

SWOT Analysis

Strength: Established brands and production experience. Superior product quality and consistency for medical devices. Cost-effective for mass production of complex parts.

Weakness: High setup and tooling costs. Lengthy production process requiring technical expertise. Limited to niche applications.

Opportunity: Growing demand for medical devices and electronics parts. New application areas in consumer goods. Automation reducing production costs.

Threats: Stringent regulations for medical applications. Competition from low-cost regions. Economic slowdowns affecting major application industries.

Key Takeaways

The global Liquid Injection Molding market scope is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to increase from US$ 12.41 Mn in 2024 to US$ 21.32 Mn by 2031, registering a CAGR of 4.8%.

Regional analysis: North America dominates currently due to presence of leading medical device manufactures and electronic part producers. Asia Pacific market is growing at fastest pace led by China, India and other Southeast Asian countries. Government support for local manufacturing is driving adoption of LIM.

Key players operating in the Liquid Injection Molding market are Engel Austria GmbH, Nissei Plastic Industrial Co., Ltd., Hillenbrand Inc., Macro Engineering & Technology Inc., SMA Engineering Plastics Ireland Ltd., and Lenz Engineering. These players are focusing on new product launches, partnerships and capacity expansions to gain higher market share.