April 14, 2024

Polymers for Additive Manufacturing Market Estimated to Witness High Growth Owing to Rising End-use Adoption

Thermoplastics such as acrylonitrile butadiene styrene (ABS), polyamide (PA), polycarbonate (PC), and polypropylene (PP) provide good dimensional stability, flexibility, and strength to the 3D printed parts. Photopolymers are resin materials that undergo curing under exposure to UV light and help in rapid prototyping processes. 3D printing with polymers enables the creation of complex geometric designs and functional parts without the need for expensive tools or molds. It finds widespread use across various industries such as automotive, medical, consumer goods, aerospace, and defense.

The Global Polymers for Additive Manufacturing Market is estimated to be valued at US$ 389.2 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2030.

Key Takeaways

Key players: Key players operating in the Polymers For Additive Manufacturing Market Size include Daihen Corporation, Yaskawa Motoman Robotics, Denso Corporation, Universal Robots, Epson America, Inc., Panasonic Corporation, Epson America, Inc., Nachi Robotic Systems, Inc., FANUC Ltd., Mitsubishi Electric Corporation, Kawasaki Heavy Industries Ltd., and KUKA Robotics Corporation.

Key opportunities: Rising demand from the healthcare industry for customized medical devices and implants produced through 3D printing provides major opportunities in the market. Additionally, increasing R&D towards the development of novel polymers suitable for specific applications will drive future growth.

Global expansion: Key players are investing strategically in developing regions like Asia Pacific and Latin America to leverage the increasing adoption of additive manufacturing practices. mergers and acquisitions are expected to help companies expand their geographic footprint over the forecast period.

Market drivers: One of the key drivers for the polymers for additive manufacturing market is the rising adoption across various end-use industries like automotive, aerospace, and medical owing to advantages like design flexibility, reduced material wastage, and faster production speeds. Lightweight and personalized products manufactured through additive manufacturing are witnessing high demand.

PEST Analysis

Political: Additive manufacturing regulations and policies related to materials recycling and environmental regulations will impact the market growth.

Economic: Growing sectors like automotive, aerospace, healthcare are boosting demand. however, economic slowdowns impact material consumption.

Social: Increased awareness about sustainability and circular economy is encouraging use of polymers for additive manufacturing to reduce wastage.

Technological: Advancements in polymer materials, machines and software are improving product design flexibility and quality. Meanwhile material extrusion and binder jetting processes allow high production rates.

Geographical concentration

North America holds the largest share in the polymers for additive manufacturing market in terms of value, due to rapid adoption in sectors like automotive, healthcare and electronics. Europe follows North America due to presence of major automotive companies exploring polymer 3D printing applications.

Fastest growing region

Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing infrastructural developments and adoption of additive manufacturing technologies by SMEs in countries like China and India for prototyping and manufacturing applications across industries.

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