The Global Liquid Injection Molding Market Growth Accelerated By Increasing Demand For Medical Implants
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| Liquid Injection Molding Market |
Liquid injection molding is a plastic processing technique used to produce high
precision, complex parts and assemblies with tight tolerances. Liquid injection
molding process involves injecting liquid raw material usually thermoset
polymer into a heated mold cavity where it cures under heat and pressure. The
liquid injection molding technique is beneficial for producing intricate
medical implants like prosthetics, spinal implants and other medical devices
owing to its dimensional accuracy and repeatability. Thetechnique allows
creation of implants with intricate inner cavities and channels, which is
otherwise difficult to produce with other conventional processes. With aging
population and rising incidence of injuries and chronic diseases, the demand
for medical implants have been steadily growing. This growing demand for
medical implants is driving the growth of the liquid injection molding market.
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 key trends:
The demand for medical implants has been steadily growing at a pace of
around 5% annually owing to aging population and rising lifestyle diseases. As
liquid injection molding technique allows production of complex implant designs
with high precision, many medical device manufacturers are adopting this
technique to cater to the growing demand. The ability of liquid injection
molding to produce intricate parts with complex internal geometries is helping
drive its adoption over alternative technique for manufacturing medical
implants. This growing demand from the medical implants industry is a major
factor accelerating the growth of the overall liquid injection molding market.
Segment Analysis
The global liquid injection molding market is dominated by the automotive
and healthcare industry. The automotive segment accounts for over 30% share of
the overall market owing to wide application of liquid injection molding in
manufacturing various plastic components for automobiles like air ducts, air
conditioning parts etc. Healthcare industry is also a fast growing end use
segment due to rising demand for liquid injection molded plastic products in
medical devices and equipment.
Key Takeaways
The global
liquid injection molding market analysis is expected to witness high
growth over the forecast period of 2024 to 2031. The market is forecast to
reach a size of US$ 18.3 Mn by 2031, expanding at a CAGR of 4.8% during the
forecast period.
Regional analysis shows Europe accounts for around 35% share
of the global market currently due to strong presence of automotive OEMs and
medical devices manufacturers in countries like Germany, UK and Italy. Key
players like A is a prominent player and holds around 15-20% market share
because of its extensive portfolio of liquid injection molding machines and
best in class technical expertise in assisting customers across industries in
design and manufacturing of liquid injection molded products. Other major
players are B and C which together account for over 30% share due to their
global production and distribution network and long established relationships
with large automotive and healthcare customers worldwide.
Key players operating in the liquid injection molding market are A, B and C. A
holds around 15-20% share due to its large product portfolio and expertise. B
and C have over 30% combined share due to their global networks and
relationships. The market is forecast to reach US$ 18.3 Mn by 2031, expanding
at a CAGR of 4.8% during 2024 to 2031.
Get more insights on this topic: https://www.newswirestats.com/liquid-injection-molding-market-industry-insights-trends-liquid-injection-molding-market/
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