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Molded Interconnect Devices (MID) Market Size By Process (Laser Direct Structuring (LDS), Two-Shot Molding), By Application (Automotive, Consumer Products, Healthcare, Industrial, Military & Aerospace, Telecommunication & Computing), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI424
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Molded Interconnect Devices Market size was valued at around USD 500 million in 2020 and is estimated to grow at a CAGR of over 13% from 2021 to 2027. The increasing demand for miniaturized and compact features in various electronics devices, such as smartphones and smartwatches, has positively influenced the market growth.

MID Market Overview

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MID helps to reduce the circuit density with the integration of less auxiliary components and reduce failure ratio and complexities. These features will increase the demand for MID among consumer electronics manufacturers to integrate more electronic components into lesser space. In mobile devices, MID is used to improve space utilization with the replacement of normal antenna stub with internal antenna. The proliferation of IoT and AI technology in computing devices and smart wearables will accelerate the MID market expansion during the forecast period.

Molded interconnect devices (MID) are injection molded thermoplastic substrates that integrate electrical and mechanical functions by incorporating conductive circuit pattern. These devices combine connectors, housing cables, and circuit boards, which include traditional product interface and merger them into a fully functional and compact device. These devices are used in a wide range of industries including medical, automotive, consumer electronics and telecommunication market.

COVID-19 pandemic has widely impacted the molded interconnect devices market with the declining demand and production activities in automotive, consumer electronics, and industrial sectors. In early 2020, several governments around the globe-imposed lockdown and restriction in international trades, resulting in shutdown of various manufacturing plants. Also, the declining consumer buying power and weakening per capita income have negatively affected the production capabilities, hampering the market opportunities for the industry. However, increasing digitalization and growing trend toward work from home scenarios have accelerated the demand for computing devices, adding an opportunity to the industry growth.

Increasing demand for two shot molding in medical devices will fuel the market progression

The two-shot molding segment dominated more than 55% of the molded interconnect devices market share in 2020 and will witness 11% growth rate through 2027 led by the adoption of two shot molding for high volume production of complex, multi-material plastic, and multi-color products. This process requires a single machine cycle, which helps to maintain cost effectiveness and increase production of molding products. Two-shot molding process helps to improve part integrity and multi material efficiency, increase its demand in consumer appliances, automotive electronics, and medical device applications.

Two-shot molding process aids to deliver parts in various technical configurations and sizes, increasing its demand in designing of medical grade parts and equipment. MID with two shot molding enables to deliver medical cleanliness and manage complex designing processes, accelerating the opportunities for MID market among healthcare OEMs. This has positively enhanced the market players to integrate two shot molding process into MID manufacturing.

Rising government initiatives for new communication technology will drive the growth opportunities for the industry

Molded Interconnect Devices (MID) Market Size

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The telecommunication & computing segment in the MID market will hold 53% of revenue share and is expected to expand at a CAGR of 11% through 2027. MID combines mechanical and electric functions into a single product, which helps to reduce the production time and cost and improves the reliability and efficiency of various telecom and computing devices. The growth is driven with the proliferation of 5G technology, which increases the demand for various interconnect devices and mobile antennas, accelerating the market potential for MID providers. Increasing government initiatives to accelerate new technologies in the telecom sector will further boost the market opportunities for MID players.

Favorable government initiatives in South Korea to propel consumer electronics manufacturing will spur the market revenue

Asia Pacific Molded Interconnect Devices Market

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Asia Pacific molded interconnect devices market accounted for over 45% of revenue share in 2020 and is poised to attain a CAGR of more than 14% during 2021 to 2027 impelled by the increasing consumer electronics production in China, South Korea, Japan, and India. The presence of major players, such as Samsung, Panasonic, Sony, and Koninklijke Philips N.V., in South Korea will fuel the growth opportunity for MID players. Also, rising initiatives and funding activities by the government to accelerate electronics production in the country will foster the market potential in coming years.

Increasing funding activities and initiatives by the regional government and association have further influenced the domestic consumer electronics manufacturers to augment their investments in new technologies and capacity expansions, driving the industry expansion during the forecast timeline. For example, Samsung has planned to accelerate its spending by 30%, reaching to around USD 151 billion by 2030. Adding to this, the proliferation of new disruptive technologies in the region, such as AI, IoT, and machine learning, has surged the requirement of new technologies in the manufacturing sector, which will stimulate the industry progression.

Strategic acquisition and collaboration to stay competitive in the market

Key players operating in the MID market are Amphenol Corporation, Harting Technology Group, LPKF Laser & Electronics AG, Molex LLC, Multiple Dimensions AG, Suzhou Cicor Technology Co. Ltd, RTP Company, SelectConnect Technologies, among others. These companies are continuously involved in integrating new strategies, such as business expansion, merger, and acquisition, to cater to highly competitive edge in the industry.

The molded interconnect devices (MID) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Process

  • Laser Direct Structuring (LDS)
  • Two-shot molding
  • Others

Market, By Application

  • Automotive
  • Consumer products
  • Healthcare
  • Industrial
  • Military & aerospace
  • Telecommunication & computing
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Malaysia
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The industry revenue share of molded interconnect devices had reached over USD 500 million in 2020 and is pegged to observe a CAGR of more than 13% up to 2027.

The two-shot molding process segment recorded close to 55% of the molded interconnect devices market share in 2020 and is set to hit a growth rate of over 11% through 2027.

Telecommunication & computing applications registered more than 53% of the overall revenue share and will see expansion at a CAGR of 11% up to 2027 due to the rising advancements in 5G technology.

Asia Pacific was responsible for over 45% of the MID market revenue share in 2020 and will rise at a CAGR of over 14% up to 2027 driven by the higher production of consumer electronics in China, South Korea, Japan, and India.

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Premium Report Details

  • Published Date: Jul 2021
  • Companies covered: 25
  • Tables & Figures: 371
  • Countries covered: 21
  • Pages: 250

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