The molded interconnect device (MID) market size is expected to reach US$ 2,711.9 million by 2028; registering at a CAGR of, according to a new research study conducted by The Insight Partners. 14.5% from 2022 to 2028
Molded interconnect devices or MIDs are injection-molded thermoplastic parts with an integrated electronic circuit, which helps reduce the circuit density by integrating fewer auxiliary components, the associated complexities, and the failure ratio. The components of MIDs are molded with circuits with the help of structured metallization and high-temperature thermoplastics. This leads to the opening of new dimensions of carrier circuit design in the electronics industry. As a result of these aforementioned features, the demand for MIDs has increased among electronic device manufacturers to integrate more electronic components into lesser space. Further, the proliferation of AI and IoT technology in computing devices and smart wearables, such as smart watches, will accelerate the growth of the Molded Interconnect Device Market during the forecast period.
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Top Key Players : Arlington Plating Company; HARTING Technology Group; LPKF Laser and Electronics AG; MacDermid, Inc.; Molex, LLC; Multiple Dimensions AG; RTP Company; TE Connectivity; TEPROSA GmbH; and YOMURA are a few of the key Molded Interconnect Device Market players profiled in the report. Several other major companies, such as JOHNAN, 2E mechatronic, and MID Solutions, were also studied and analyzed during this research study to get a holistic view of the Molded Interconnect Device Market and its ecosystem. Many players are following organic and inorganic growth strategies, such as product launches, product developments, market expansion, partnerships, collaborations, and mergers and acquisitions, to remain competitive in the Molded Interconnect Device Market . A few of the examples are mentioned below:
- In March 2022, Amphenol Corporation expanded its product series, i.e., the SURLOK Plus Series, to include 8 mm and 10.3 mm right-angle connectors, with a voltage range of 1500 VDC for meeting the requirement of high-power connection and transfer and energy storage.
- LPKF Laser & Electronics developed a new technology in November 2021 by combining Laser Direct Structuring (LDS) and laser plastic welding. In the LDS process, the electrical circuits are directly placed on parts with fine resolution in 2D and 3D design.
- In June 2020, MacDermid Alpha Electronics Solution announced the launch of Systec SAP, a family of high-performance build-up processes for IC substrate RDL. It provides multiple process flows for various materials and advancements in conditioning, activation, and metallization steps.
Increasing government initiatives and funding activities have influenced domestic consumer electronics manufacturers to invest in new technologies such as AI, thus leading to industry expansion. For instance, Samsung has planned to increase its spending by 30% to reach ~US$ 151 billion by 2030. Also, the proliferation of new disruptive technologies, such as IoT, machine learning, and AI, has surged the requirement for new technologies in the manufacturing sector, which will lead to increased demand for MIDs. Further, the rising demand for miniaturization in the consumer electronics industry is one of the major factors responsible for the Molded Interconnect Device Market growth. In addition, various beneficial features of MIDs, such as the ease of operation, installation, and configuration of the device, along with the growing requirement to decrease e-waste through favorable regulatory scenarios, are contributing to the Molded Interconnect Device Market growth.
The adoption of IoT devices and increasing demand for smartphones are likely to create beneficial opportunities for the growth of the Molded Interconnect Device Market in the coming years. However, the fluctuating prices of raw materials can hamper the Molded Interconnect Device Market growth. Various other factors, such as the impact of the COVID-19 pandemic, the ongoing Russia-Ukraine war, and the technological monopoly of LDS equipment manufacturers, are also anticipated to impact the supply chain and hinder the Molded Interconnect Device Market growth.
In Asia Pacific, China is anticipated to grow with the highest CAGR during the forecast period. A few of the major reasons for this growth are as follows:
- China is a global manufacturing hub for various electronic devices, such as wearable devices
- A large number of companies based in North America and other regions have their manufacturing plants in China
- China is one of the fastest growing countries for the production of consumer electronic and medical devices through MID technology
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