Prominent trends in the molded interconnect devices market are propelled by an increase in the adoption of strategic moves such as mergers, acquisitions, and partnerships by major market participants.

For instance, in February 2021, Amphenol ICC and TactoTek announced entering into a partnership for the development of automotive-grade in-mold connectors for the IMSE Technology offered by TactoTek.

Driven by similar advancements, the molded interconnect devices industry share is estimated to exceed USD 1 billion through 2027, as cited by the most recent study by Global Market Insights, Inc.

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Few other trends that are potentially set to impel molded interconnect devices (MID) industry outlook are as follows:

Presence of key automotive OEMs in Europe

The molded interconnect devices market in Europe is slated to record a lucrative CAGR of 13% between 2021 and 2027. This rise is on account of the presence of key automotive OEMs, comprising Fiat, Daimler, BMW Group, DAF Trucks, and others, that are focusing on vehicle electrification and advanced automotive systems across the region.

As per the IEA (International Energy Agency), in the year 2020, Europe accounted for more than 1.4 million new electric cars. Of these, France and Germany recorded more than 185,000 and 395,000 units of registered EVs, respectively. Furthermore, the EV sales in Norway recorded an upsurge of 75% in 2020 in comparison to the previous year.

The rising adoption of electric vehicles in the region is expected to add new growth opportunities to the molded interconnect device manufacturers.

Surging uptake of industrial robots

The industrial segment is estimated to expand at a considerable CAGR of more than 12% between 2021 and 2027. The demand for molded interconnect device materials is impelled by the surging uptake of industrial robots at the global level. Industrial robots are combined with numerous PCBs, sensors, and hardware systems, that are fabricated over MID technology.

Moreover, molded interconnect devices market enable the reduction of the number of components in the final product. This creates more space for the incorporation of advanced systems and sensors in industrial robots. As per the February 2020 press release by the International Federation of Robotics, nearly two million new industrial robot units are estimated to be used in factories across the globe between 2020 and 2022.

Low cost features of film injection molding against two-shot molding processes

The others segment in the molded interconnect devices market is poised to grow at a substantial CAGR of more than 10% through the estimated period. This rise is driven by low cost features that are offered by the hot stamping and film injection molding processes in comparison to LDS and two-shot molding processes.

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Film injection molding and hot stamping are among the typically utilized approaches for the formulation of molded interconnect devices owing to their adhesive conduction properties. The process needs low tooling cost, which is anticipated to support its adoption in the fabrication of low-cost systems.

In addition, industry participants are focusing on the development and innovation of newer raw materials-based injection molding processes. For instance, in May 2021, TerraVerdae Bioworks produced a new PHA-based resin, that has applications in film injection molding and thermoforming processes.

All in all, the rising demand for compact and miniaturized features in numerous electronic devices will boost molded interconnect devices market share through the projected span.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Scope & definition

1.2    Methodology

1.3    Data Sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Molded interconnect devices market 360⁰ synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Process trends

2.1.4    Application trends

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