Home > Semiconductors & Electronics > Electronics > Molded Interconnect Devices (MID) Market
Molded Interconnect Devices Market Size
Molded Interconnect Devices Market size surpassed USD 500 million in 2021 and is slated to exhibit a CAGR of more than 10% from 2022 to 2030. The strong demand for smart consumer electronics will bolster the industry growth.
With the escalating adoption of next-gen electronics, the need for manufacturing technologies that reduce weight and maximize space while offering increased capabilities has elevated. Molded interconnect devices (MID) technology is being leveraged to integrate functions in one 3-D package, resulting in compact, lightweight, and high-capability electronic devices. The demand for terminal devices such as smartphones, notebooks, and smartwatches has been surging. These factors will fuel the deployment of MID technology, given its high energy efficiency, interconnectivity, and smaller footprint.
Lack of skilled technical experts
Rising electrification and the usage of advanced semiconductor solutions are providing lucrative opportunities for Molded interconnect devices market expansion. Despite the favorable growth trajectory, low awareness regarding molded interconnect materials and limited presence of technical manufacturing experts and vendors offering MIDs has been observed. All these factors, alongside the high development costs, may create roadblocks to industry development by 2030.
Report Attributes | Details |
---|---|
Base Year: | 2021 |
Market Size in 2021: | USD 500 million |
Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 10% |
2030 Value Projection: | USD 2 billion |
Historical Data for: | 2018 to 2021 |
No. of Pages: | 310 |
Tables, Charts & Figures: | 397 |
Segments covered: | Process, Application |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Molded Interconnect Devices Market Analysis
The two-shot molding segment registered revenue of around USD 300 million in 2021, driven by the high-volume production of multi-color, complex products, and multi-material plastics. The 2-shot molding method primarily requires a single production cycle. This leads to lower expenses and an enhanced molded production process, which may stimulate the demand.
The industrial application sector is anticipated to cross USD 150 million by 2030, owing to the increasing emphasis on the upgradation of MID technology for industrial processes. Electronic transmission and connection service providers such as Harting have designed 3D-MID technology to help produce miniaturized RFID (Radio Frequency Identification) tags adopted in the industrial process, contributing to the business progression.
The telecommunication and computing industry accounted for nearly 50% of the molded interconnect devices market share in 2021. This was credited to the robust demand for advanced electronic circuits that support the advancement of 5G devices with minimal signal loss. Electronic companies including Cicor Group have been aiming toward developing MID hardware with liquid crystal polymers to support the transmission of 5G signals at high frequencies.
The Asia Pacific molded interconnect devices market captured 45% of the revenue share in 2021. This can be attributed mainly to the thriving semiconductor industry in prominent Asian countries such South Korea, Taiwan, and India. The production of electric vehicles has also been rising across the region. Also the growing usage of miniaturized electronic components in vehicles, are projected to add impetus to the regional expansion during 2022-2030.
Molded Interconnect Devices Market Share
- TE Connectivity
- Mitsubishi Engineering-Plastics Corporation
- GALTRONICS
- Molex LLC
- RTP Company
- BASF
- EMS- Chemie AG
- Ensinger
- Zeon Corporation
- SelectConnect Technologies Suzhou Cicor Technology Co. Ltd (Cicor Group)
are some of the key molded interconnect devices market participants. These companies are focusing on production facility growth to boost their presence in the competitive landscape.
Impact of COVID-19 Pandemic
The COVID-19 pandemic has resulted in a boom in the electronics sector, due to the rapid acceptance of digital technologies during the lockdowns. Based on data from Segment, over 40% of the electronics brands reported that the sector witnessed commendable growth amid the pandemic. Moreover, consumer electronics and computers represent almost 22% of e-commerce sales. These factors will stimulate the implementation of MID technology in the consumer electronics sector and consequently foster industry trends.
This market research report on molded interconnect devices (MID) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2030 for the following segments:
to Buy Section of this Report
Market, By Process
- Two-shot molding
- Laser Direct Structuring (LDS)
- Others
Market, By Application
- Automotive
- Consumer products
- Healthcare
- Telecommunication & computing
- Industrial
- Military & aerospace
- Others
The above information is provided on a regional and country basis for the following:
North America
- U.S.
- Canada
Europe
- UK
- Italy
- Spain
- Russia
- Germany
- France
- Sweden
Asia Pacific
- China
- India
- Taiwan
- Japan
- South Korea
- Malaysia
- Australia
Latin America
- Brazil
- Mexico
MEA
- Saudi Arabia
- South Africa
- UAE
Frequently Asked Questions (FAQ) :