July 14, 2024
Polymers for Additive Manufacturing MarketPolymers for Additive Manufacturing Market

Polymers for Additive Manufacturing Market is Expected to be Flourished by Increasing Usage of Thermoplastic and Photopolymers

Additive manufacturing, which is also known as 3D printing, includes techniques for manufacturing parts from digital representations by successively depositing materials usually layer-upon-layer under computer control. Polymers play a vital role in the additive manufacturing process. Common polymers used in additive manufacturing include thermoplastics such as acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), polyamide (PA), polypropylene (PP), and photopolymers.

Thermoplastics are the most widely used type of polymers for additive manufacturing due to their softening and reshaping capabilities at high temperatures. Key applications of thermoplastics in additive manufacturing include manufacturing of prototypes, tooling, and end-use parts across various industries. Photopolymers are light-reactive resins commonly used in stereolithography, which is a leading additive manufacturing method. The photopolymers solidify layer by layer when exposed to ultraviolet light in stereolithography forming complex geometries efficiently.

The global Polymers for Additive Manufacturing Market is estimated to be valued at US$ 337.84 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing usage of thermoplastics and photopolymers in additive manufacturing is expected to drive the demand for polymers for additive manufacturing over the forecast period. Thermoplastics offer cost-effectiveness and high strength-to-weight ratio for achieving complex geometries with additive manufacturing methods such as fused deposition modeling and multi-jet fusion. Photopolymers find increasing utilization in stereolithography due to their ability to precisely cure into hard solid parts layer-by-layer upon exposure to ultraviolet light, thereby enabling fabrication of intricate medical implants, electronic components, and microfluidic devices. Furthermore, advancements in additive manufacturing technologies towards high-performance applications are also boosting the development and adoption of advanced polymers with improved material properties for additive manufacturing.

Segment Analysis
The polymers for additive manufacturing market is dominated by photopolymers which holds around 40% market share. Photopolymers are preferred for 3D printing due to their ability to quickly solidify when exposed to UV light. This helps in producing parts with high resolution and accuracy by selectively polymerizing liquid photopolymer materials. Thermoplastics is another major segment gaining prominence due to ability to withstand high temperatures. Key thermoplastics used in 3D printing include acrylonitrile butadiene styrene (ABS), polycarbonate (PC), polylactic acid (PLA).

PEST Analysis
Political: Countries are supporting initiatives to boost additive manufacturing industry through funding in R&D and infrastructure development. This is helping polymers segment to grow.
Economic: Growth in end-use industries such as automotive, aerospace is driving demand for advanced polymers. Low materials wastage with 3D printing technologies also enhances economic viability.
Social: Increased awareness about benefits of 3D printing technologies in education and healthcare is positively impacting polymers adoption. Customized 3D printed products are gaining traction.
Technological: Advancements in polymer chemistry is expanding materials portfolio for 3D printing. Development of multi-material 3D printing and continuous liquid interface production (CLIP) technology is further expanding applications.

Key Takeaways
The Global Polymers For Additive Manufacturing Market Size is expected to witness high growth supported by expanding applications in industries such as automotive, healthcare, consumer goods. The global Polymers for Additive Manufacturing Market is estimated to be valued at US$ 337.84 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030.

Regional analysis
The Asia Pacific region is projected to be the fastest growing regional market during the forecast period supported by growing industrial activities in China, India, Japan and Southeast Asian countries. China dominated the Asia Pacific polymers for additive manufacturing market due to low manufacturing costs and presence of key polymer producers such as BASF and Merck KGaA in the country.

Key players operating in the polymers for additive manufacturing market are Arkema S.A., Covestro AG, DuPont, Inc., EOS GmbH, Evonik Industries AG, INTAMSYS, Prototal Industries, Stratasys Ltd., BASF SE, Saudi Basic Industries Corporation (SABIC), Huntsman International LLC., NatureWorks LLC. Key players are focusing on developing application-specific materials, customized material formulations and expanding product portfolio to strengthen market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it