Molded Interconnect Device (MID) Global Market Report 2024

The global molded interconnect device (mid) market has grown rapidly in recent years. It will grow from $1.51 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 17.2%. The growth observed in the historical period can be credited to several factors, including trends towards miniaturization, the evolution of consumer electronics, advancements in automotive electronics, innovations in medical devices, and a notable shift towards smart manufacturing methodologies.

The global molded interconnect device (mid) market is expected to see rapid growth in the next few years. It will grow to $3.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. Anticipated growth in the forecast period is linked to the continuous evolution of consumer electronics, increased integration of medical devices, expanding automotive electronics, and the swift advancement of rapid prototyping and manufacturing innovations. Noteworthy trends expected in this period encompass adherence to regulatory compliance and quality standards, emphasis on customization and design flexibility, the integration of rapid prototyping and manufacturing technologies, a focus on sustainability and material innovations, and the progression towards Industry 4.0 and smart manufacturing methodologies.

The rising demand for IoT devices is poised to drive the growth of the molded interconnect devices market. IoT devices encompass a multitude of physical items connected to the internet, exchanging data across devices and systems. This surge is fueled by the demand for higher computational speed, efficiency, low-power devices, and intelligent chipsets, primarily within the semiconductor & electronics industry. As reported in August 2022 by Techjury sourced from IoT Analytics, corporate IoT initiatives focused notably on Smart City (23%), Connected Industry (17%), and Connected Building (12%). However, the extraction of value from IoT-related data remains a challenge for 97% of firms, underscoring the market's potential growth.

The burgeoning demand within the aerospace industry is expected to propel the growth of the molded interconnect devices market. Molded interconnect devices offer significant advantages such as space savings, weight reduction, reliability, thermal management, manufacturing efficiency, and design flexibility, aligning well with diverse aerospace applications. For instance, as reported in August 2023 by Cadrex, the aerospace industry recorded revenue of $741 billion in 2022, marking a 3% increase from the previous year. This industry's expanding requirements are a key driver stimulating growth within the molded interconnect devices market.

Technological advancements represent a prominent trend shaping the molded interconnect device market. Key industry players are dedicated to crafting innovative technological solutions adaptable to various facets, leading to the evolution of technologies like laser plastic welding. In November 2021, LPKF Laser & Electronics introduced an innovative technology merging Laser Direct Structuring (LDS) and laser plastic welding. This combination results in aesthetically superior weld seams and robust plastic couplings, with the creation of WeLDS, enabling unprecedented function integration in electronics applications.

Major companies operating in the molded interconnect device market are focusing on pioneering products such as light antennas to bolster market revenues. Light antennas represent a breakthrough in wireless communications, being smaller than a US dime and pivotal in enabling widespread LiFi (Light Fidelity) usage in smartphones and connected devices. As unveiled in February 2023 by pureLiFi Limited, the LiFi Light Antenna is engineered for seamless integration, optimizing performance, size, cost, and production needs. Leveraging the light spectrum, LiFi surpasses conventional technologies like WiFi and 5G in speed, reliability, and security, offering scalability for widespread adoption in smartphones and connected devices.

In September 2022, Tide Rock Holdings completed the acquisition of Plastic Molding Technology (PMT), a strategic move that expands their service capabilities across multiple sites. This acquisition brings onboard a highly skilled team and 95 molding machines ranging from 20 to 500 tons, positioning Tide Rock Holdings to cater to a broader client base in plastic injection and inserts molding. Plastic Molding Technology is renowned in the industry for its expertise and strategic site locations.

Major companies operating in the molded interconnect device (mid) market report are Molex LLC, TE Connectivity Ltd., Amphenol Corporation, LPKF Laser & Electronics AG, 2E mechatronic GmbH & Co. KG, Harting Technologiegruppe, Arlington Plating Company, MID Solutions LLC, MacDermid Inc., JOHNAN Corporation, TactoTek Oy, Axon' Cable S.A.S, S2P Solutions, Suzhou Cicor Technology Co. Ltd., Chogori Technology Co. Ltd., Mitsubishi Engineering-Plastics Corporation, Galtronics Corporation Ltd., RTP Company, BASF SE, EMS-Chemie Holding AG, Ensinger GmbH, Zeon Corporation, SelectConnect Technologies, Multiple Dimensions AG, Cicor Group, Tesa SE, APC Automotive Technologies LLC, Yomura Technologies Inc., T-Ink Inc., ODU GmbH & Co. KG

Asia-Pacific was the largest region in the molded interconnect device (MID) market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molded interconnect device (mid) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the molded interconnect device (mid) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary processes employed in Molded Interconnect Devices encompass Laser Direct Structuring (LDS), Two-Shot Molding, and other relevant techniques. Laser Direct Structuring stands out as an environmentally friendly, precise, and pioneering manufacturing method for three-dimensional molded connector devices. These products include antenna and connectivity modules, connectors and switches, sensors, lighting, and other relevant items. Applications span across automotive, consumer products, healthcare, industrial, military and aerospace, as well as telecommunication and computing sectors.

This report provides molded interconnected device market statistics, including molded interconnected device industry global market size, regional shares, competitors with a molded interconnected device market share, detailed molded interconnected device market segments, market trends and opportunities, and any further data you may need to thrive in the molded interconnected device industry. This molded interconnected device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The molded interconnect device market consists of sales of metal spraying and film techniques. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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