The global polymers for additive manufacturing market is estimated to be valued at US$ 147.6 Mn in 2019 and is expected to exhibit a CAGR of 23.0% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polymers for additive manufacturing, also known as 3D printing, are materials used to create objects layer by layer using computer-aided design (CAmodels. This technology has gained significant popularity across various industries, including automotive, aerospace, healthcare, and consumer goods, due to its ability to produce complex shapes, reduce material wastage, and provide design freedom. Polymers used in additive manufacturing offer several advantages, such as lightweight structures, cost-effectiveness, and improved product performance.
Market Key Trends:
One key trend in the polymers for additive manufacturing market is the increasing adoption of 3D printing technology in the healthcare industry. The healthcare sector has witnessed significant advancements in recent years, especially in applications such as medical implants, surgical instruments, and drug delivery systems. For instance, 3D printed prosthetics offer customized solutions for patients with limb disabilities. In addition, the use of biocompatible materials in additive manufacturing has opened new avenues for tissue engineering and regenerative medicine.
PEST Analysis:
Political: The political landscape can have an impact on the polymers for additive manufacturing market. Government regulations and policies regarding intellectual property rights and safety standards can influence the adoption of 3D printing technology.
Economic: The economic factors that can affect the market include inflation rates, GDP growth, and disposable income levels. The affordability and cost-effectiveness of 3D printing technology can drive its adoption, especially in developing economies.
Social: Social factors such as changing consumer preferences, awareness about sustainable manufacturing practices, and demand for personalized products can impact the market. Additive manufacturing allows for customization, reducing waste, and supporting sustainable production.
Technological: Technological advancements in 3D printing, such as improved printing speed, material options, and post-processing techniques, are driving the growth of the market. The development of new polymers with enhanced properties is also contributing to market expansion.
Key Takeaways:
Paragraph 1: The global polymers for additive manufacturing market is expected to witness high growth, exhibiting a CAGR of 23.0% over the forecast period. This growth is primarily driven by the increasing adoption of 3D printing technology across various industries, such as automotive, aerospace, healthcare, and consumer goods. For example, the automotive industry is using additive manufacturing to produce lightweight components and decrease fuel consumption.
Paragraph 2: North America is expected to dominate the polymers for additive manufacturing market, owing to the presence of established players, advancements in technology, and a strong focus on research and development activities. However, the Asia-Pacific region is expected to witness the fastest growth due to rapid industrialization, increasing investments in additive manufacturing technologies by key market players, and growing demand for customized products.
Paragraph 3: Key players operating in the global polymers for additive manufacturing market include 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., and NatureWorks LLC. These companies are focused on product development, collaborations, partnerships, and mergers and acquisitions to expand their market presence and cater to the growing demand for polymers in additive manufacturing.
In conclusion, the global polymers for additive manufacturing market is expected to witness significant growth in the coming years, driven by the increasing adoption of 3D printing technology and its advantages in various industries. The market is influenced by political, economic, social, and technological factors, which shape the regulatory landscape, affordability, consumer preferences, and technological advancements. The market is dominated by key players who are actively investing in research and development and strategic collaborations to strengthen their position in the market.
