June 17, 2024
Polymers for Additive Manufacturing Market

The Global Polymers for Additive Manufacturing Market growth is Driven by Growth in Plastics Industry

The polymer additive manufacturing process, also known as 3D printing of polymers, allows the creation of functional parts or components directly from digital designs. Wide range of polymers can be used for additive manufacturing such as thermoplastics, photopolymers and elastomers which provides product designers with flexibility to meet specific requirements. Key advantages of using polymers in additive manufacturing include the ability to produce intricate geometries and parts in low volumes with minimal material waste. This makes polymer 3D printing suitable for rapid prototyping, design verification, jigs and fixtures production as well as short run manufacturing in industries such as healthcare, consumer products and automotive.

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 key trends:

Thermoplastics emerge as the dominant polymer for additive manufacturing due to their versatility and ability to produce strong functional parts. Key types of thermoplastics used are polyamide (PA), acrylonitrile butadiene styrene (ABS), polylactic acid (PLA) and polyetherimide (PEI). New formulations of these polymers with improved properties are entering the market to support production of high-performance applications. Another key trend is the development of photopolymers suitable for laser sintering and stereolithography processes. Suppliers are focusing on photopolymer resins with faster print speeds, higher resolution and durability. Integration of additive manufacturing with robotics and automated solutions is also expected to transform production workflows through part handling, post-processing and end-of-arm tooling applications.

Porter’s Analysis

Threat of new entrants: Low economies of scale in production technology, established brand loyalty of customers towards existing players, high capital requirements act as barriers for new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and bargaining leverage of large volume buyers. However, customized solutions according to customer requirements create switching costs.

Bargaining power of suppliers: Suppliers of raw materials have low bargaining power due to availability of substitute materials and inputs. Suppliers face threat of forward integration by buyers.

Threat of new substitutes: Threat of substitutes is moderate as 3D printing offers cost and design benefits over traditional methods. However, materials compatibility, lack of standards remain challenges.

Competitive rivalry: Intense competition exists among existing players to gain market share and customers through product development, branding and strategic partnerships.

Key Takeaways

The Global Polymers For Additive Manufacturing Market Demand is expected to witness high growth. 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.

Regional analysis : Regional analysis comprises North America dominates currently due to concentration of established 3D printer manufacturers and rapid adoption across industries such aerospace and automotive for prototyping and manufacturing. Europe and Asia Pacific also capture significant shares with Germany, UK, China, India and Japan emerging as high potential countries.

Key players: Key players operating in the polymers for additive manufacturing are 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. Players compete based on product quality, innovation, customer service, and strategic partnerships for business expansion.

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