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/EIN News/ -- Chicago, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Molded Interconnect Device (MID) Market is expected to grow from USD 1.4 billion in 2022 to USD 2.7 billion by 2027; it is expected to grow at a CAGR of 13.6% during the forecast period, according to a new report by MarketsandMarkets™. Key factors driving the demand for MIDs included the growing use of LDS process for the production of 5G antennas, which increases the speed and efficiency of wireless communication. Growing demand for IoT devices is bringing huge opportunities for MID providers.
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Browse in-depth TOC on “Molded Interconnect Device (MID) Market” 155 – Tables 45 – Figures 178 – Pages
Lighting Systems is expected to have second highest CAGR during the forecast period
Lighting systems are being mainly used in automotive and residential applications. MIDs are used in LED lighting to make them cost-efficient and effective by placing interconnects and electronic components on a 3D plastic body. In automotive, rear lamp cluster is an application area of lighting, where MID is used to integrate bulbs, unsoldered circuitry, and a port into a single unit.
Two-shot molding is expected to have second largest market size during the forecast period
Two-shot molding process is a mature and well-developed process for cost-efficient and repeatable production of MIDs. In Two-shot molding, two separate molding cycles and different thermostatic polymers and electroless plating process are used to manufacture the component. It requires the construction of different mold cavities for each shot. Two-shot molding produces MIDs by combining non-plateable and plateable injection molded resins. This process is mainly used for high-volume applications, typically, in telecommunications and automotive industries as the tooling costs are high in this process. It offers a few advantages over other processes like design flexibility for 3D geometries, ability to integrate multiple functions into one compound, and scalability improvement.
Consumer electronics to have the largest market size during the forecast period.
Consumer electronics include electronic equipment intended for everyday use, usually in entertainment, communications, and office productivity. Consumer electronics include almost all electronic devices used for entertainment, communications, and office work. Television sets, home theater devices, video game devices, cameras, refrigerators, and washing machines are a few examples of consumer electronics that are equipped with electronic components. Consumer electronics is the major revenue generator for the MID market. In consumer electronics, MIDs are being prominently used in smartphone antennae, smart wearable device antennae, and tablet or laptop antennae.
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China to grow with the highest CAGR in Asia Pacific region during the forecast period
China to grow with highest CAGR in Asia Pacific region. China is global manufacturing hub for electronics manufacturing process. The companies based in North America and other regions have their manufacturing plants in China. China is one of the fastest growing place for production of medical and consumer electronic devices through MID technology. All these reasons have led to China being fastest gowing country in the world during the forecast period.
The report profiles key players in the molded interconnect device (MID) market and analyzes their market shares. Players profiled in this report are Molex (US), TE Connectivity (Switzerland), Amphenol Corporation (US), LPKF Laser & Electronics (Germany), and Taoglas (Dublin), Harting (Germany), Arlington Plating Company (US), MID Solutions (Germany), 2E Mechatronic (Germany), KYOCERA AVX (US) and Johnan (Japan), Teprosa(Germany), Sunway Communication(China), Axon Cable(France), S2P (France), Suzhou Cicor Technology (China), TactoTek (Finland), DuraTech (US), Tekra (US), Yomura Technologies (Taiwan), MacDermid Alpha Electronics (US), Galtronics (US), Yazaki Corporation (Japan), Chogori Technology (Japan), Suzhou Zeeteq Electronics (Japan), Toyo Connectors (Japan) and SINOPLAST (China).
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