Artificial Intelligence Is Fastest Growing Segment Fueling The Growth Of Micro Molding Materials Market
The global Micro Molding Materials Market is estimated to be valued at US$ 1.27 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Micro molding materials are very small plastic components molded to very precise tolerances and small size for applications like medical devices, electronics, sensors and more. They offer advantages like miniaturization, precision and complex geometries not possible with other processes. Market key trends: Adoption of artificial intelligence and IoT: There is an increasing integration of advanced technologies like artificial intelligence and IoT in various industries. This is driving the need for smaller, precise plastic components in miniature sensors, medical devices and more. Micro molding materials allow creation of such intricate parts and thus seeing increased demand to support advancement of new technologies like AI and Io