May 27, 2024
Polymers for Additive Manufacturing Market

The Polymers for Additive Manufacturing Market is Expected to be Flourished by Increasing Demand for Low-Cost Production of Complex Parts

Additive manufacturing, also known as 3D printing, is a process of producing three dimensional solid objects from a digital file. Polymers are widely used as raw materials for additive manufacturing due to their properties like flexibility, durability, toughness and resistance to corrosion. Common polymers used for additive manufacturing include acrylonitrile butadiene styrene (ABS), nylon, polyamide (PA), polylactic acid (PLA), polyethylene (PE), polypropylene (PP), polyurethane (TPU), and silicone. These polymers are used to produce functional and complex parts for various industries such as aerospace, automotive and healthcare. With increasing adoption of 3D printing technology, demand for polymers for additive manufacturing is growing significantly.

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 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The increasing demand for low-cost production of complex parts across various industries is expected to be the major driver for the polymers for additive manufacturing market growth over the forecast period. Compared to conventional manufacturing methods, additive manufacturing reduces production time and cost for low volume production runs involving complex geometries. Furthermore, polymers allow manufacturing of flexible and lightweight parts required in sectors like aerospace and electronics. Availability of a variety of polymers suitable for different end-use applications is also fueling the market growth. However, lack of skilled labor and high capital investment required for additive manufacturing equipment are some of the factors hindering the market growth. Ongoing research and development for improving material properties is expected to create growth opportunities for market players.

Segment Analysis

The global polymers for additive manufacturing market is segmented into photopolymers, thermoplastics and others. Thermoplastics dominate the market with over 60% share in 2024 due to their easy processability and melt nature. Thermoplastics can be easily melted and reshaped on the application of heat which makes them ideal for extrusion-based additive manufacturing technologies.

PEST Analysis

Political: Additive manufacturing market is positively impacted by supportive government policies and regulations especially in developing economies to promote local manufacturing.

Economic: Growth of end-use industries such as automotive, aerospace, consumer goods is driving the polymers for additive manufacturing market. Reduction in production costs using 3D printing further boosts the market.

Social: Increasing R&D activities to develop advanced polymers suitable for 3D printing and reduce associated health hazards.

Technological: Developments in additive manufacturing technologies such as polymer jetting, binder jetting, sheet lamination expanding application scope of polymers in medical implants, prototypes.

Key Takeaways

The Global Polymers For Additive Manufacturing Market Size is expected to witness high growth during the forecast period. 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 2031.

The North America region dominated the market in 2024 accounting for over 35% of the global demand. Growth in the region is driven by presence of leading players and adoption of additive manufacturing technologies by various end-use industries. The Asia Pacific region is the fastest growing market for polymers for additive manufacturing owing to growth of manufacturing sector and low-cost manufacturing using 3D printing technologies especially in China and India. Countries are focusing on promoting local manufacturing using additive manufacturing.

Key players

Key players operating in the polymers for additive manufacturing market are Daihen Corporation, 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. Daihen captured over 15% share in the global market due its wide product portfolio for polymer extrusion and powder-based additive manufacturing.

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