Molded Interconnect Devices (MID) Market to Value $2 Bn by 2030, Predicts Global Market Insights Inc
In This Article:
Major molded interconnect devices market participants include 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)
Selbyville, Delaware, Sept. 19, 2022 (GLOBE NEWSWIRE) --
The molded interconnect devices (MID) market is expected to cross a valuation of USD 2 billion by 2030, according to latest market research study by Global Market Insights Inc. The rising miniaturization trend in electronics and semiconductor industries is fostering the business expansion.
The 3D-molded interconnect devices can enable original product manufacturers to lower the number of electronic parts, leading to reduced assembly time, miniaturization of electronics, and space-saving circuitry. Furthermore, the growing emphasis on sustainability across the electronics manufacturing sector is another key reason behind the widespread deployment of MIDs. They are composed of thermoplastic substrates, which offer superior environmental benefits over conventional printed circuit boards.
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Film injection molding and other MID processes to gain traction
In terms of process, the MID market divided into two-shot molding, laser direct structuring, and others segment. The others segment in molded interconnect devices market is projected to depict a CAGR of over 10% through 2030. Other MID processes include film injection molding and hot sampling, as per the report. The popularity of these processes is increasing, owing to their adhesive conducting qualities. They also can contribute to cost reduction, product development speed, and streamlining of production operations, which may lead to increased adoption in the formulation of molded interconnect materials.
Rising integration of advanced electronic circuitry in the military and aerospace sector
Based on application, The military and aerospace industry recorded revenue of around USD 20 million in 2021. This was credited mainly to the trend of integrating advanced electronic circuitry along with physical packaging across the military sector. Moreover, the need for optimizing the weight of components used in spacecraft is increasing, accelerating the deployment of molded interconnected devices (MID) technology in aerospace applications.
MEA to become a key destination for MID developers
The Middle East and Africa MID market is anticipated to value nearly USD 100 million by 2030, due to the rising government initiatives to expand smart cities. The building automation trend is also gaining momentum in and around the region, says the report. These factors are augmenting the demand for advanced and miniaturized electronic devices, stimulating regional industry development.