Micro molding market in North America to see growth of 14.5 percent through 2019

While thermoplastic micro injection molding doesn't use big material volume, a new global industry analysis suggests that applications for micro molded parts will show significant growth. The study from Research and Markets, "Polymer and Thermoplastic Micro Molding Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast, 2013-2019," says that the micro molding market in North America can expect to grow at a CAGR of approximately 14.5 percent between 2013 and 2019.

The region is expected to experience high growth in minimally invasive surgeries during the forecast period hence leading to high components demand from the medical industry. Europe emerged as the second largest polymer micro molding market and is expected to account for nearly 36 percent of the total market in 2019.

While applications for micro injection molded parts are in demand across many industry segments, in the medical industry, micro injection molding is used to manufacture parts such as sensors, implants, tubes, catheter tips, micro optics and others. Molded products are slowly replacing machined components that have been used traditionally in the industry, noted the summary of the report. The growing trend of small devices coupled with the increasing number of minimally invasive surgeries per day has been boosting the demand for micro sized parts from medical device manufacturers," according to the report's summary.

Other markets creating a demand for micro injection molding applications include telecom fiber optics, automotive, micro drove systems and control and other applications.

The study also noted that the global polymer micro molding injection market is highly fragmented with a large number of small manufacturers. The market is mainly concentrated in the Western region as North America and Europe. The key industry participants include Accumold, ALC Precision, Micromold Inc., American Precision Products, Makuta Technics, Micromolding Solutions Inc., Micro Precision Products, Precimold Inc., Rolla AG, Rapidwerks, Stack Plastics Inc., Stamm AG and Sovrin Plastics among others.

The report offers a value chain analysis, providing a comprehensive view of major players in the micro molding market, and also includes raw material analysis for better understanding of major raw materials used in the polymer micro molding process.