In-Mold Electronics Market Growth Drivers and Forecast 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

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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 Regional Insights

The regional trends and factors influencing the In-Mold Electronics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses In-Mold Electronics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

In-Mold Electronics Market Report Scope

In-Mold Electronics Market Players Density: Understanding Its Impact on Business Dynamics

The In-Mold Electronics Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the In-Mold Electronics Market are:

1. Celanese Corporation
2. e 2 ip
3. DuraTech Industries
4. East West Manufacturing
5. GenesInk
6. Golden Valley Products

Disclaimer: The companies listed above are not ranked in any particular order.

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