Global Molded Interconnect Device Market Overview:
Molded Interconnect Device Market Size was valued at USD 1.6 Billion in 2022. The Molded Interconnect Device market industry is projected to grow from USD 1.83 Billion in 2023 to USD 5.29 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 14.20% during the forecast period (2024 - 2032). The increasing use of laser direct structuring (LDS) process to produce 5G antennas that lead to enhanced speed and efficiency of wireless communication)and the growing demand for lot devices are the key market drivers that intensify the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Molded Interconnect Device Market Trends
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Increasing demand for the electrical and mechanical applications is driving the market growth
Market CAGR for molded interconnect devices is being driven by the Increasing demand in electrical and mechanical applications. MIDs offer a unique integration of electronic circuits directly onto three-dimensional molded plastic components, revolutionizing product design and functionality. This technology finds extensive utility in automotive, medical devices, consumer electronics, and industrial equipment. The automotive sector, in particular, is witnessing a notable uptick in MID adoption due to the growing trend of smart and interconnected vehicles. Additionally, the medical industry is leveraging MIDs for compact and multifunctional devices. This heightened demand is poised to propel the MID market forward, presenting substantial growth opportunities for industry players.
Additionally, it is experiencing a surge in demand predominantly driven by the escalating adoption in the medical sector. MIDs offer compact, customizable solutions for intricate medical devices, facilitating miniaturization and enhancing functionality. Additionally, the growing emphasis on sustainability and cost-efficiency is fueling the need for component reuse. MIDs, with their ability to integrate multiple functions into a single piece, align perfectly with this trend. This convergence of factors positions the MID market for robust growth, as it caters to the evolving needs of the medical industry while addressing sustainability concerns.
Rising prices of essential materials strain profit margins, impacting the overall competitiveness of MIDs. Additionally, the high costs associated with specialized tooling deter potential entrants and hinder scalability for existing manufacturers. These factors collectively impede the market's growth trajectory. To mitigate these challenges, industry players may explore alternative materials and manufacturing techniques, invest in research and development for cost-effective solutions, or seek strategic partnerships to share the financial burden of production. These measures could help alleviate the constraints on MID market expansion.
For instance, in November 2021, LPKF Laser & Electronics, a German-based electronics manufacturing company, developed a new technology by combining LDS and laser plastic welding. It is driving the Molded Interconnect Device market revenue.
Molded Interconnect Device Market Segment Insights:
Molded Interconnect Device Product Type Insights
The Molded Interconnect Device Market segmentation, based on product type, includes antennas and connectivity modules, sensors, connectors and switches, lighting systems, and others. The antennas and connectivity modules segment dominated the market. Antennae are crucial for transmitting and receiving signals in various applications, such as loT devices, smartphones, and automotive electronics. Connectivity modules encompass a range of technologies like Bluetooth, Wi-Fi, and cellular connectivity, enabling seamless communication between devices.
Molded Interconnect Device Process Insights
The Molded Interconnect Device Market segmentation, based on process, includes laser direct structuring (LDS), two-shot molding, and film techniques. The two-shot molding category generated the most income (70.4%). The MID market uses two-shot moulding, commonly referred to as two-component injection moulding or 2K moulding, as a manufacturing technique to produce complicated parts with several materials or colours. Using two distinct materials or resins in a single injection moulding cycle to produce objects with integrated circuitry is known as two-shot moulding in the context of MID.
Molded Interconnect Device Vertical Insights
The Molded Interconnect Device Market segmentation, based on vertical, includes Telecommunication, Consumer Electronics, Automotive, Medical, Industrial, Military and aerospace. The consumer electronics category is major vertical that heavily relies on MIDs. MIDs are favored in consumer electronics due to their ability to enable compact, lightweight designs with high functionality.
Figure1: Molded Interconnect Device Market, by vertical, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Molded Interconnect Device Regional Insights
By region, the study supplies market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Molded Interconnect Device market area will dominate this market, owing to a well-established electronics industry coupled with a high adoption rate of advanced technologies. In the automotive sector, MIDs are used for various functions, including sensors, lighting systems, and control modules.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure: Molded Interconnect Device Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Molded Interconnect Device market accounts for the second-largest market share due to the request for MIDs, as they are extensively used in applications like electronic control units (ECUs), sensors, and lighting systems. The presence of many automotive manufacturers in countries like Germany, France, and the United Kingdom bolsters the market.
The Asia-Pacific Molded Interconnect Device Market is expected to grow at the fastest CAGR from 2023 to 2032. It is due to the flourishing electronics and automotive industries. Countries like China, Japan, and South Korea are at the forefront of MID adoption. China, in particular, boasts a thriving electronics manufacturing sector, making it a significant contributor to the MID market.
Molded Interconnect Device Key Market Players& Competitive Insights
Leading market players are investing in research and development in order to expand their product lines, which will help the Molded Interconnect Device market rise even more. Market participants are also undertaking a variation of strategic activities to develop their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To develop and survive in a more competitive and rising market climate, the Molded Interconnect Device industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Molded Interconnect Device industry to benefit clients and increase the market sector. In recent years, the Molded Interconnect Device industry has offered some of the most advantages to medicine. Many players in the Molded Interconnect Device market, including GALTRONICS, HARTING Technology Group, MacDermid, Inc., LPKF Laser & Electronics AG, Cicor Management AG, YOMURA, RTP Company, S2P smart plastic product, SelectConnect Technologies, Suzhou Cicor Technology Co. Ltd, TE Connectivity, Teprosa GmbH, Tongda Group, BASF SE, EMS-CHEMIE HOLDING AG, DSM, Ensinger, Evonik Industries AG, LANXESS, MITSUBISHI GAS CHEMICAL COMPANY, INC., PTS (TQM) Ltd., and ZEON CORPORATION, among others.
Founded in 1989, ZEON has been in the PDF business for more than 20 years. In the very beginning, we developed electronic publishing and printing solutions and switched to PDF (Portable Document Format) technology in 1993. There, it began the evolution of our robust PDF software, spanning over 13 generations that businesses and document professionals around the world have widely adopted. At Zeon, we are committed to delivering powerful PDF solutions that cater to businesses of different sizes. From regular workstation licenses, a free PDF reader, and a hosted solution for virtual environments to a server-grade conversion tool, Gaaiho provides comprehensive PDF functionality as well as versatile licensing programs, making it possible to choose a plan that fits your exact needs without posing costly compromises.
Galtronics is one of the very few antenna companies in the world with plan ability in three key markets: DAS and Small Cell, Networking and Mobile. As content drives broadband necessary, complicated antenna systems are required to carry this rising load. The fundamental plan elements of antennas can only be satisfied by a number of companies in the world. Galtronics' exceptional design capabilities, including its unique lead of leveraging mobile antenna plans to work within its issue antenna systems, set Galtronics apart from its competitors. These are exciting days in the antenna world, and Galtronics will be launching many new DAS and small-cell products within the year.
Key Companies in the Molded Interconnect Device market include
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GALTRONICS
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HARTING Technology Group
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MacDermid, Inc.
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LPKF Laser & Electronics AG
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Cicor Management AG
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YOMURA
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RTP Company
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S2P smart plastic product
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SelectConnect Technologies
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Suzhou Cicor Technology Co. Ltd
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TE Connectivity
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Teprosa GmbH
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Tongda Group
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BASF SE
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EMS-CHEMIE HOLDING AG
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DSM
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Ensinger
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Evonik Industries AG
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LANXESS
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MITSUBISHI GAS CHEMICAL COMPANY INC
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PTS (TQM) Ltd.
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ZEON CORPORATION
Molded Interconnect DeviceIndustry Developments
January 2023: Kries, a German innovator in smart grid systems, has been acquired by TE Connectivity (TE), a global leader in connectivity and sensors; the purchase broadens TE's portfolio of power grid monitoring, protection, and automation systems.
September 2022: Galtronics Corporation, which blends collaboration and technological innovation to address the most complex wireless communication challenges in the world, announced the addition of three new devices to its Multibeam antenna line.
Molded Interconnect Device Market Segmentation:
Molded Interconnect Device Product Type Outlook
Molded Interconnect Device Process Outlook
Molded Interconnect Device Vertical Outlook
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Telecommunication
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Consumer Electronics
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Automotive
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Medical
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Industrial
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Military & Aerospace
Molded Interconnect Device Regional Outlook
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North America
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 1.6 Billion |
| Market Size 2023 |
USD 1.83 Billion |
| Market Size 2032 |
USD 5.29 Billion |
| Compound Annual Growth Rate (CAGR) |
14.20% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, Process, Vertical, and Region |
| Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered |
The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
GALTRONICS, HARTING Technology Group, MacDermid, Inc., LPKF Laser & Electronics AG, Cicor Management AG, YOMURA, RTP Company, S2P smart plastic product, SelectConnect Technologies, Suzhou Cicor Technology Co. Ltd, TE Connectivity, Teprosa GmbH, Tongda Group, BASF SE, EMS-CHEMIE HOLDING AG, DSM, Ensinger, Evonik Industries AG, LANXESS, MITSUBISHI GAS CHEMICAL COMPANY, INC., PTS (TQM) Ltd., and ZEON CORPORATION, among others. |
| Key Market Opportunities |
High-cost fluctuation in raw materials High tooling cost |
| Key Market Dynamics |
Growth of semiconductor manufacturing industry in growing countries |
Molded Interconnect Device Market Highlights:
Frequently Asked Questions (FAQ) :
The Molded Interconnect Device Market size was valued at USD 1.6 Billion in 2022.
The global market is projected to grow at a CAGR of 14.20% during the forecast period, 2024-2032.
North America has the largest share of the global market
The key players in the market are GALTRONICS, HARTING Technology Group, MacDermid, Inc., LPKF Laser & Electronics AG, Cicor Management AG, YOMURA, RTP Company, S2P smart plastic product, SelectConnect Technologies, Suzhou Cicor Technology Co. Ltd, TE Connectivity, Teprosa GmbH, Tongda Group, BASF SE, EMS-CHEMIE HOLDING AG, DSM, Ensinger, Evonik Industries AG, LANXESS, MITSUBISHI GAS CHEMICAL COMPANY, INC., PTS (TQM) Ltd., and ZEON CORPORATION, among others.
The Antennae & Connectivity Modules category dominated the market in 2022.
The Two-Shot Molding base has the largest share in the global market.
