The Liquid Injection Molding (LIM) process involves injecting thermoset polymer resins directly into molds to form molded parts of complex shape and size. Some key advantages of LIM over other molding processes include dimensional accuracy, the ability to create complex geometries, ability to mold large or small quantities, and reduced post-processing requirements. The process is suitable for a wide variety of materials such as epoxies, silicone, polyurethane and others. LIM parts find widespread applications in automotive interiors and exteriors, consumer goods, medical devices and others owing to their design flexibility and durability.
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 operating in the Liquid Injection Molding market are 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. Major players are focusing on capacity expansion plans to cater to the rising demand.
The growing demand for customized plastic components from end-use industries such as automotive, consumer products, and medical devices is expected to offer lucrative growth opportunities for players in the LIM market. LIM components manufacturers are innovating material portfolios to cater to evolving application requirements.
Key players are focusing their efforts on expanding manufacturing plants to other geographical regions including Asia Pacific, Europe, and Latin America through joint ventures and strategic partnerships to leverage the huge growth opportunities in these emerging markets.
Market Drivers
Increasing demand from the automotive industry for manufacturing complex interior and exterior parts is a major factor driving The Liquid Injection Molding Market growth. The ability of LIM to mold intricate geometries make it suitable for automotive applications. Rising vehicle production across the world consequently fuels the market growth.
Market Restraints
High set-up and tooling costs associated with liquid injection molding limits its usage for low-volume production applications. Manufacturers prefer other molding techniques for production runs involving less than 10,000 units. This acts as a restraining factor for the liquid injection molding industry growth.
Segment Analysis
The liquid injection molding sub segment dominates the market and accounts for over 40% share. It is preferred by manufacturers for relatively large and complex molded parts across industries like automotive, healthcare, consumer goods etc. This technique provides high degree of design flexibility for complicated geometries and tight tolerances which are difficult to achieve through other processes.
The engineering plastics sub segment is growing at a fast pace owing to rising adoption of high performance plastics like polyamide and PBT in varied applications. Engineering plastics offer properties like heat resistance, fatigue strength and dimensional stability essential for advanced applications.
Global Analysis
The Asia Pacific region holds the major share in the global market and is expected to witness the fastest growth during the forecast period. This can be attributed to rapid industrialization, rise in automotive production, growth in healthcare sector and increase in demand for consumer goods across developing economies of China, India, Indonesia and others.
North America is another prominent market aided by well-established automotive and healthcare industries. Presence of leading injection molding equipment and material suppliers also support regional market growth. Stringent environmental regulations regarding use of recyclable plastics boost demand for liquid injection molding technology in Europe.
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