Major Molded Fasteners Market Players 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, Del., Sept. 19, 2022 (GLOBE NEWSWIRE) —
Accordingly, the molded interconnect device (MID) market is expected to surpass a $2 billion valuation by 2030 latest market research study by Global Market Insights Inc. The increasing miniaturization trend in the electronics and semiconductor industry promotes business expansion.
The 3D-molded interconnect devices can enable original equipment manufacturers to reduce the number of electronic parts, resulting in reduced assembly time, miniaturization of electronics, and space-saving circuitry. Additionally, the increasing emphasis on sustainability throughout the electronics manufacturing sector is another major reason for the widespread adoption of MIDs. They are made from thermoplastic substrates that offer superior environmental benefits over traditional PCBs.
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Foil injection molding and other MID processes are gaining in importance
In terms of process technology, the MID market is divided into the two-shot molding, laser direct structuring and other segments. The “Other” segment in the Molded Fasteners Market is projected to register a CAGR of over 10% by 2030. Other MID processes include film injection molding and hot proofing, according to the report. The popularity of these procedures is increasing due to their adhesive conductive properties. They can also contribute to cost reduction, product development speed, and production flow streamlining, which can lead to increased acceptance in the formulation of molded interconnect materials.
Increasing integration of advanced electronic circuits in the military and aerospace sectors
Based on the application, the military and aerospace industry recorded a revenue of around $20 million in 2021. This was mainly attributed to the trend to integrate advanced electronic circuitry along with physical packaging throughout the military sector. Additionally, the need to optimize the weight of components used in spacecraft is increasing, accelerating the use of Molded Interconnected Devices (MID) technology in aerospace applications.
MEA is becoming an important target for MID developers
That Middle East and Africa MID market is projected to be worth nearly $100 million by 2030 due to increasing government initiatives to expand smart cities. The trend towards building automation is also gaining momentum in and around the region, the report states. These factors increase the demand for advanced and miniaturized electronic devices and stimulate regional industrial development.
Acquisition initiatives to define the industry landscape
The competitive landscape of the molded fasteners industry includes TE Connectivity, Mitsubishi Engineering-Plastics Corporation, GALTRONICS, Molex LLC, RTP Company and SelectConnect Technologies Suzhou Cicor Technology Co. Ltd (Cicor Group) among others. These industry participants are emphasizing merger and acquisition strategies to diversify their presence in the market. For example, in December 2021, Molex LLC acquired the core technology and intellectual property of Keyssa, Inc. The acquisition gave the company access to Keyssa’s chip-to-chip wireless technology and helped it diversify and expand its microconnector portfolio.
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Partial Table of Contents (ToC) of the report:
Chapter 2 summary
2.1 Molded Interconnect Devices (MID) Industry 3600 Snapshots, 2018-2030
2.2 Business Development
2.2.1 Total Addressable Market (TAM), 2023 – 2030
2.3 Regional trends
2.4 Process Trends
2.5 Application Trends
Chapter 3 Industry Insights for Molded Interconnect Devices (MID).
3.2 Effects of COVID-19
3.3 Effects of the war between Russia and Ukraine
3.4 Molded Interconnect Devices (MID) Industry Ecosystem Analysis
3.5 Profit Margin Analysis
3.6 Technology and innovation landscape
3.7 Raw Material Analysis
3.8 LDS Coating Material Analysis
3.9 Patent Landscape
3.10 Key Initiative & News
3.11 Regulatory Landscape
3.12 Industry Impact Forces
3.12.1 Growth drivers
22.214.171.124 Increasing adoption of portable electronic devices in North America
126.96.36.199 Favorable government regulations to reduce e-waste in Europe
188.8.131.52 Spread of Electric Vehicle (EV) Sector in Asia-Pacific
184.108.40.206 Global smartphone demand increase
220.127.116.11 Growth of semiconductor industry in developing countries
3.12.2 Industry pitfalls and challenges
18.104.22.168 High fluctuations in the cost of raw materials
22.214.171.124 High tool costs
3.13 Investment Portfolio
3.14 Growth potential analysis
3.15 Porter’s analysis
3.16 PESTEL Analysis
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