Molded Interconnect Devices (MID) Market Analysis

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.

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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.