Molded Interconnect Devices (MID) Market Size By Process (Laser Direct Structuring (LDS), Two-Shot Molding), By Application (Automotive, Telecommunication, Consumer, Industrial, Medical), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, Japan), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: May 2016 | 83 Pages | Report ID: GMI424 Report Format: PDF
Molded Interconnect Devices (MID) Market size was valued at over USD 225 million in 2015, with 13.8% CAGR growth forecast from 2016 to 2023. Higher function density and design flexibility is anticipated to propel industry demand.
China molded interconnect device market size, by application, 2012-2023 (USD Million)
Molded interconnect devices enable integration of mechanical and electronic components and circuits directly on 3D (three-dimensional) plastic components. This helps in integrating chips elegantly with their assemblies, and also allows the antennae in smartphones or notebooks to be installed directly within the housing. This in turn facilitates in saving a great amount of space and miniaturization.
These products offer high level of design freedom and also exhibit less assembly steps when compared to conventional printed circuit boards (PCB). Furthermore, integration of functions and sensors aids in reducing assembly times as well as number of production steps. This is expected to optimize the supplementary costs and also facilitate in manufacturing high quality components.
Technique such as direct bare chip assembly on substrates is anticipated to further fuel industry demand over the forecast period. Selective metallization offered by these products is expected to drive MID market size over the next seven years. High reliability as a result of low failure ratio can be attributed to low degree of complexity of the systems due to existence of very less number of auxiliary components. They also have superior environmental benefits as it uses thermoplastic materials with minimal additives.
High tooling cost associated with these products is likely to challenge acceptance across the industry. In addition, usage of high cost chemical element during the production process is likely to increase the raw material price and this in turn is projected to negatively impact molded interconnect devices market price trend. Hot stamping process is predicted to witness considerable growth prospects owing to lower tooling and development costs. However, its limited compatibility with simple and large structures, such as the ability to process only two-dimensional layouts on 3D parts, is forecast to hinder widespread adoption.
Molded Interconnect Devices (MID) Market, By Process
Two-shot molding process is anticipated to exceed USD 490 million by 2023, growing at 13.6% CAGR from 2016 to 2023. This technique produces MIDs by combining non-plateable and plateable injection molded resins. Owing to high tooling costs, it is expected to lose share mostly to higher volume applications.
Laser direct structuring process segment is projected to surpass USD 135 million by 2023 growing at 14.3% over the forecast timeframe.
Molded Interconnect Devices (MID) Market, By Application
Telecommunication application accounted for more than 60% of the global revenue in 2015, and is poised to grow at 13.6% CAGR from 2016 to 2023. The growth can be primarily attributed to increasing usage in antennas. Automotive is forecast to witness the fastest growth in the coming years at 14.8% CAGR, owing to increasing product adoption in brake-light fixtures.
Medical segment is projected to arrive at over USD 20 million by 2023. Surging adoption in medical devices is expected to further boost demand over the next seven years.
Molded Interconnect Devices (MID) Market, By Region
Asia Pacific molded interconnect devices market size was valued at over USD 175 million in 2015. Growth across the region can be mainly credited to availability of low priced components in China.
Europe MID market share is expected to exhibit potential growth owing presence of large number of automotive industries across the region. The regional industry was valued at USD 24 million in 2015 and is projected to grow at 12.2% CAGR from 2016 to 2023.
U.S. molded interconnect device market size is projected to exceed USD 25 million by 2023.
Competitive Market share
Key industry participants accumulating major molded interconnect device market share include Molex, TE Connectivity and Harting Technology Group. Other notable players are MacDermid Incorporated, LPKF Laser & Electronics, SelectConnect Technologies, and RTP Company.
Manufacturers are now increasingly focusing on producing television sets using thermoplastic polymers that can be recycled easily and can also be designed to not contain halogenated flame retardants.
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