In-Mold Electronics Market Size, Trends and Growth Analysis by 2027

The global in-mold electronics market was valued at approximately US$ 95.5 million in 2019 and is anticipated to grow significantly, reaching around US$ 942.6 million by 2027. This growth represents a remarkable compound annual growth rate (CAGR) of 44.6% from 2020 to 2027.

One of the primary drivers of this market expansion is the rising demand for wearable technology across various industrial sectors, particularly in developed nations. Manufacturers of wearable devices are increasingly seeking innovative technologies to enhance their product offerings. A key focus is on the integration of electronic circuits and LEDs directly into plastic components through in-mold electronics. This technology can be applied in the production of advanced motorcycle helmets, which could feature tactile interfaces, such as capacitive switches. This allows riders to answer calls or adjust volume with a simple tap, minimizing distractions. Furthermore, the incorporation of embedded LED lights can significantly improve visibility for motorcyclists on the road. Consequently, substantial investments in research and development aimed at incorporating in-mold electronics into wearable technology are expected to propel market growth in the near future.

In the aerospace sector, where traditional buttons and wiring contribute to considerable weight, in-mold electronics technology offers a solution by reducing these burdens. This innovation simplifies design by integrating circuits into the structure itself, thereby minimizing or eliminating wiring, which conserves both space and weight. Additionally, North America boasts a high density of consumer electronic devices, including smartphones, televisions, and tablets, which is likely to stimulate demand for in-mold electronics technology in the region. North America is also a significant hub for automotive and automotive component manufacturers, and the increasing integration of electronic components in vehicles is expected to further drive demand for in-mold electronics technology among manufacturers in the coming years.

The in-mold electronics market is categorized based on ink type, application, and geographical region. In terms of ink type, the market is divided into silver conductive ink, carbon conductive ink, and other variants. In 2019, the silver conductive ink segment dominated the market share. When considering applications, the market is segmented into automotive, building automation, consumer products, wearables, healthcare, and others. Notably, the building automation segment is projected to experience the fastest growth during the forecast period. Geographically, the in-mold electronics market is divided into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Europe held the largest market share in 2019, followed by North America and APAC. However, APAC is expected to be the fastest-growing market, with a projected CAGR of 52.9% from 2020 to 2027.

Despite the optimistic growth projections, the ongoing COVID-19 pandemic has negatively impacted the global economy, affecting in-mold electronics business operations and revenues worldwide. The United States, in particular, has seen a dramatic increase in confirmed COVID-19 cases, leading to widespread lockdowns and disruptions in industrial activities. Consequently, many small and medium-sized enterprises have had to limit their workforce, with some laying off non-essential employees due to restricted operations. Additionally, companies have reduced their budgets for electronics manufacturing in response to the economic downturn, which has adversely affected global business activities. The challenges faced by component manufacturers, supply chains, and distributors have also significantly impacted the production capabilities of market players. As a result, the market is expected to experience a notable decline in demand from end-users in the current year, with a gradual recovery anticipated in the following years as the effects of the pandemic subside.

The overall size of the in-mold electronics market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also provided a comprehensive overview and forecast for the in-mold electronics market across all segments. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the in-mold electronics sector. Key players identified in this market study include Butler Technologies, Inc., DuPont de Nemours, Inc., DuraTech Industries, Eastprint Incorporated, GenesInk, Golden Valley Products, InMold Solutions, Nissha Co., Ltd., TactoTek Oy, and YOMURA.