In-Mold Electronics Market Growth Drivers by 2031
The in-mold electronics market size is projected to reach US$ 1989.35 million by 2031 from US$ 258.41 million in 2023. The market is expected to register a CAGR of 29.1% in 2023–2031. The growing consumer electronics market and soaring demand from the automotive sector are likely to remain key to in-mold electronics market trends.
In-Mold Electronics Market Analysis
Several key factors contribute to in-mold electronics' growing popularity. In-mold electronics allow for the creation of sleek, low-profile interfaces that blend easily into the overall product design. This integration improves the user experience and increases the demand among the consumers. Another factor is that the elimination of additional components, such as circuit boards and connectors, simplifies assembly and lowers overall manufacturing costs. The streamlined production process allows for faster time-to-market, making in-mold electronics an appealing option for companies looking to meet tight deadlines and gain a competitive advantage.
In-Mold Electronics Market Overview
In-mold electronics is a manufacturing process that combines electronic circuitry with a molded plastic component. By combining traditional injection molding techniques with printed electronics, in-mold electronics eliminates the need for separate circuit boards, connectors, and cables. Conductive traces, touch sensors, and other electronic components are directly integrated into the surface of the plastic, providing numerous advantages over traditional methods. It is widely used in is used for household appliances, automotive dashboards, medical equipment, aerospace, and wearable electronics..
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In-Mold Electronics Market: Strategic Insights
Market Size Value in US$ 95.5Million in 2019 Market Size Value by US$ 942.6Million by 2027 Growth rate CAGR of 44.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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In-Mold Electronics Market: Strategic Insights
| Market Size Value in | US$ 95.5Million in 2019 |
| Market Size Value by | US$ 942.6Million by 2027 |
| Growth rate | CAGR of 44.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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In-Mold Electronics Market Drivers and Opportunities
Benefits of in-mold Electronics to Favor Market
In-mold electronics can incorporate decorative graphics, lighting, and several others which leads to its demand among the consumers. It provides greater design flexibility, improved reliability and durability, a significant reduction in space and weight, improved touch performance, ease of assembly, and sustainability. In-mold electronics has gained popularity in several industries for human-machine interfaces such as passenger control units, remote controls, cabin management system interfaces, patient monitor systems, home appliances, home security systems, and others. In addition, it is also a popular choice for automotive interiors and aircraft cabins for sleek and compact designs.
Growing electric vehicles market
The demand for electric vehicles is expected to increase in the future due to a rise in concerns about climate change and air pollution. The government of several countries are making their way to introduce several initiatives and policies to fuel the manufacturing of electric vehicles to contribute to a greener future. Hence, the production of electric vehicles will generate the demand for in-mold electronics to increase electronic content, reduce complexity and reduce weight in vehicles. Some of the instances mentioned below are anticipated to fuel electric vehicle production in the near future.
- In September 2022, the US government announced its plan to boost the manufacturing of electric vehicles. By 2030, the country is expected to record 50% of the total electric vehicle sales share. Companies such as Honda, Toyota, General Motors, Ford Motor Company, and Panasonic have announced investments in the manufacturing sectors in North Carolina, Missouri, Michigan, Kansas, and Ohio to meet the target.
- In May 2022, Stellantis had planned to spend US$ 2.8 billion to increase the production of electric vehicles at two of its Canadian plants. In support of this investment, the Canadian and Ontario governments planned to invest up to US$ 410.7 million and US$ 398 million to augment the domestic production of EVs and mitigate the supply chain constraints.
- The UAE government planned to launch 42,000 electric cars, which will be on the roads by 2030. Supportive government policies and incentives offer beneficial opportunities to key players to promote the adoption of electric vehicles in the country.
In-Mold Electronics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the in-mold electronics market analysis are ink type and application.
- By application, the market is segmented into automotive, building automation, consumer products, wearable, healthcare, and others. The automotive segment is expected to grow with the highest CAGR.
- Based on the ink type, the market is segmented into silver conductive ink, carbon conductive ink, and others. The silver conductive ink segment held a larger market share in 2023.
In-Mold Electronics Market Share Analysis by Geography
The geographic scope of the in-mold electronics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, Asia Pacific accounted for the largest in-mold electronics market share in 2023. The presence of a large number of electronics manufacturers in the region leads to the region’s market growth. The surge in population growth fuels the demand for consumer electronics in the region, driving the use of in-mold electronics technology. The rise in disposable income of people in emerging economies such as India and China leads to their strong purchasing power for electronics, which further leads to the growing demand for in-mold electronics technology.
In-Mold Electronics Market Report Scope
In-Mold Electronics Market News and Recent Developments
The In-Mold Electronics Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In September 2022, X2F announced that it had joined a unique collaboration with Covestro, one of the world’s leading manufacturers of high-quality polymer materials, to develop a thermally conductive automotive heat-sink with in-mold electronics using X2F’s transformative controlled viscosity molding technology. This new product was a unique alternative for automotive OEMs and processors who seek a replacement for cast aluminum heat-sinks that is both lighter and more affordable. (Source: X2F, Press Release, 2022)
In-Mold Electronics Market Report Coverage and Deliverables
The “In-Mold Electronics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Application , Ink Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Canada, China, France, Germany, India, Italy, Japan, Mexico, Middle East and Africa, Russian Federation, South America, South Korea, United Kingdom, United States
Frequently Asked Questions
The global in-mold electronics market was estimated to be US$ 258.41 million in 2023 and is expected to grow at a CAGR of 29.1% during the forecast period 2023 - 2031.
The growing consumer electronics market and soaring demand from the automotive sector are the major factors that propel the global in-mold electronics market.
The trend towards smart manufacturing is anticipated to play a significant role in the global in-mold electronics market in the coming years.
The key players holding majority shares in the global in-mold electronics market are Celanese Corporation, e 2 ip, DuraTech Industries, East West Manufacturing, and GenesInk.
The global in-mold electronics market is expected to reach US$ 1989.35 million by 2031.
The incremental growth expected to be recorded for the global in-mold electronics market during the forecast period is US$ 1730.94 million.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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