The Global Micro-Molding Materials Market Continues To Grow Owing To the Increasing Demands from End-Users Such As the Automobile and Healthcare Sectors

 

Micro-molding material is a specialty molding resin that is used to make products and parts that are typically less than a gram in weight or just a few millimeters in diameter. These small components are often needed in niche industries and critical applications, where size matters. There are many factors that determine the materials used in a micro-molding project. These include the design, application, and requirements for the component or part, as well as the environment in which the product is to operate. Generally, there are many different types of resins and thermoplastics that can be used for micro-molding applications. Commonly used materials include polyethylene, nylon, elastomeric, and durometer plastics as well as thermoset polyurethanes. While the process of manufacturing these types of products can be extremely complex, it is still possible to produce them efficiently and accurately. The key is to find an experienced team of micro-molding experts that can take the lead on every step of the production process.

Competitive Landscape:

Major players operating in the global Micro-molding Materials Market include Rapidwerks, Rolla AG, Sovrin Plastics, Makuta Technics, Stamm, American Precision Products, Micro Precision Products, Micromolding Solutions, ALC Precision, American Precision Products, Stack Plastics, Accumold, Micromold Inc., Precimold Inc.

Key Market Drivers:

Increasing sales of automobiles in the world are expected to augment the growth of the global micro-molding materials market. For instance, according to Global Cars Brands, there are more than 1.42 billion vehicles in the world. Thermoplastics are an ideal choice for micro-molding because they can become pliable above a certain temperature, but return to their rigid state when the mold is cooled. This allows for very tight tolerances to be achieved and the ability to maintain fine details. Other materials that are commonly used for micro-molding applications are bioabsorbable and liquid crystal polymers. These materials can be absorbed and dissolved by the body, making them popular in medical and healthcare applications where they can lower the number of surgeries required to remove implants or surgical parts. Moreover, high demand from several sectors such as packaging, micro-optics, and electronic, medical, and healthcare is estimated to enhance the growth of the global micro-molding materials market.

Covid-19 Impact Analysis

During the COVID-19 pandemic, several factors restrained the growth of the global micro-molding materials market. The sudden fluctuation of demand from end-use industries has affected the production and distribution of molding materials. This has majorly affected the growth of the market.

Key Takeaways:

·        North America is expected to dominate the growth of the global micro-molding materials market, owing to the increasing expansion of the healthcare sector in the region. For instance, according to the American Hospital Association, there are around 6093 hospitals in the United States.

·        The Asia Pacific is estimated to witness high growth in the global micro-molding materials market, owing to the high demand for automobiles in the region. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), there are over 14,000 automobile companies in India.