The global in-mold electronics market was estimated at US$ 127.5 million in 2020 and is expected to hit US$ 2,443.10 million by 2030, poised to grow at a noteworthy CAGR of 34.4% from 2021 to 2030.
The global in-mold electronics market is primarily driven by the rising production of different consumer electronics such as smartphones, tablets, and laptops. The technological advancements in the capacitive touch sensors in various consumer electronic devices is fostering the growth of the in-mold electronics market. Moreover, the growing popularity of the touch screen switches owing to the increased safety and elimination of frail or tear of the mechanical switches is a major driver of the market growth. Moreover, the adoption of in-mold electronics is growing in various end use applications as it offers benefits like reduction of weight and it facilitates processing of molding operations conveniently. The growing adoption of the in-mold electronics in the aerospace, automotive, consumer goods, electronic appliances, and various other applications is significantly boosting the growth of the global in-mold electronics market. The use of in-mold electronics offers cost reduction, design flexibility, and improves productivity which is a major factor behind the increasing demand for the in-mold electronics among the various industry players.
The elimination of the mechanical switches and buttons in the in-mold electronics makes the electronic parts more light-weight that enhances the products and manufacturing process. Traditionally, the assembling of electronics was a time-consuming process. However, with the introduction of the in-mold electronics the excess time consumed has been reduced significantly that improves the output of the manufacturing or the assembly units. The in-mold electronic technologies are increasing used in the latest consumer products such as dryers, washing machines, dishwashers, automotive consoles, smartphones, and a range of consumer electronics. Rising investments in the research and development of the ergonomics devices and equipment across various industries is boosting the market growth during the forecast period.
Report Scope of the In-Mold Electronics Market
|Market Size in 2020||USD 127.5 Million|
|Growth Rate From 2021 to 2030||CAGR of 34.4%|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Ink Type, Application, Region|
|Companies Mentioned||Butler Technologies, GenesInk, DuPont de Numours, InMold Solutions, YOMURA, Golden Valley Products, DuraTech Industries, Eastprint Incorporated, Nissha Co. Ltd., TactoTek Oy|
Ink Type insights
Based on the ink type, the silver conductive segment dominated the global in-mold electronics market in 2020, in terms of revenue. This is attributed to the extensive usage of the silver conductive in-mold electronics across the globe owing to its various benefits. The silver conductive ink provides strong adhesion, high conductivity, and crease resistance to various polymer substrates. Moreover, the lower ink consumption reduces the cost, which fuels its adoption across the industries.
On the other hand, carbon conductive is estimated to be the most opportunistic segment during the forecast period. The carbon conductive inks offers durability, abrasion resistance, and high electric conductivity. The carbon inks can be customized according to the needs of the user, which is expected to fuel it growth during the forecast period.
Based on the application, the consumer products segment dominated the global in-mold electronics market in 2020, in terms of revenue. This is simply due to the increased demand for the latest and innovative consumer electronic products among the global population. The manufacturers are now increasingly adopting the in-mold electronics for adding desired designs to the products in along with achieving cost efficiency and time savings. The exponentially growing demand for the consumer electronics across the globe is expected to sustain the leading position of this segment throughout the forecast period.
On the other hand, the automotive is expected to be the fastest-growing segment during the forecast period. This is attributed to the increasing production of the autonomous and luxury vehicles. The growing popularity of the latest and innovative electric vehicles loaded with features and growing adoption of these vehicles is signifi9cantly boosting the growth of this segment across the globe.
Based on region, North America dominated the global in-mold electronics market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. This is due to the increased adoption of the latest and innovative technologies in the industries of North America. The countries like US and Canada are capital intensive economies, where the demand for automation and adoption of innovative technologies is higher. Moreover, the increased demand for various luxury consumer, healthcare, wearables, and automotive products is higher in the region that propels the adoption of the in-mold electronics among the manufacturing units of various products. The increased disposable income, higher demand for luxury electronic products, and increased demand for the automotive vehicles among the population of North America has fostered the growth of the in-mold electronics market in this region.
On the other hand, Asia Pacific is estimated to be the most opportunistic market during the forecast period. This is attributable to the increased presence of the world’s top electronic manufacturers in the nations like China, India, Japan, South Korea, and Taiwan. The enormous demand for the consumer electronics in this region is one of the most significant factors that is expected to rapidly drive the growth of the in-mold electronics market in the Asia Pacific region during the forecast period. Moreover, rising disposable income, growing healthcare infrastructure, rapidly growing automotive sectors, and rising demand for the home improvement products is significantly driving the growth of the market. The favorable government policies is attracting various top electronic manufacturer to expand their manufacturing facilities in this region which is estimated to the most crucial factor that would augment the market growth in this region.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
In 2020, Mino Group and GenesInk entered into a partnership. This partnership aimed at expanding the business of the GenesInk in Asia Pacific region.
The various developmental strategies like collaborations, acquisitions, and partnerships fosters market growth and offers lucrative growth opportunities to the market players.
Some of the prominent players in the global in-mold electronics market include:
Segments Covered in the Report
By Ink Type
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