Liquid injection molding (LIM) is a manufacturing technique involving the injection of liquid components such as polymers, elastomers, and thermosets under high pressure into a mold. The liquid solidifies in the mold, resulting in a complex, unitized part requiring low assembly. LIM components are resistant to chemicals and corrosion and possess various advantageous properties such as flexibility, durability, and dimensional stability. It is widely used in the medical industry to produce rubber components for surgical and orthopedic devices. Various medical products made using LIM include catheter parts, specialized tubing, syringe components, small implants, and surgical blades.
The global liquid injection molding market is estimated to be valued at US$ 12.41 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
The increasing demand from the medical industry is expected to drive the growth of the liquid injection molding market during the forecast period. As highlighted earlier, LIM is an important manufacturing technique used to produce high-precision and intricate components for various medical devices and implants due to its ability to form complex shapes. Factors such as the rising global geriatric population suffering from chronic diseases, increasing healthcare spending, and growing medical device industry are fueling the demand for surgical devices and medical equipment. This, in turn, is augmenting market expansion. Another key driver of market growth is the flourishing automotive industry. Liquid injection molding helps automakers lower costs and mass-produce components like dashboard buttons, airbag components, and HVAC controls. The growing vehicle production and rising electrification of vehicles are creating high demand for LIM components in the automotive industry.
The Liquid Injection Molding market is dominated by the medical sub-segment, which accounts for over 40% market share. Liquid injection molding technology is widely used in medical device manufacturing due to its ability to produce complex parts with high accuracy and minimal waste. This makes it an optimal choice for manufacturing small medical components.
Political: The healthcare regulations in many regions are getting stricter regarding use of materials in medical devices, driving higher adoption of technologies like liquid injection molding that produce good quality parts with limited waste.
Economic: The growth of the medical device industry, rising healthcare spending, and increasing lifestyle diseases are fueling demand for medical devices, positively impacting the liquid injection molding market.
Social: As living standards rise, more people are able to afford healthcare and medical treatments, increasing the demand for medical devices. This acts as a driver for the liquid injection molding industry.
Technological: Advancements in liquid injection molding machines allow for higher throughput and more complex part manufacturing. Use of automation has also improved productivity.
The global Liquid Injection Molding market share is expected to witness high growth over the forecast period of 2024 to 2031 on the back of rising expenditure on healthcare globally. The global liquid injection molding market is estimated to be valued at US$ 12.41 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
Regional analysis – North America dominates the global market currently due to rapid technological adoption and presence of key players in the region. Asia Pacific is expected to witness the fastest growth over the coming years led by China, India and other developing nations on account of increasing medical spending, healthcare reforms and rising middle class.
Key players – Key players operating in the Liquid Injection Molding market are Company A, Company B, Company C and Company D. Company A leads the market with over 15% share due to its wide product portfolio and global presence. Company B focuses on the medical device manufacturing segment and ranks second.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it