Photosensitive Polymer Market Size, Share, Growth, And Industry Analysis By Type (Photosensitive Reversible, Photosensitive Irreversible) By Application (Aerospace & Defense, Automotive, Medical, Printing Industry, Construction, Others), Regional Insights, and Forecast To 2031

Updated On: 29 April 2024

Photosensitive Polymer Market Report Overview

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The global photosensitive polymer market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Other names for photosensitive resin include photopolymer, light-activated resin, and UV-curable resin. It is a polymer that changes its properties when exposed to light, often in the ultraviolet or visible regions of the electromagnetic spectrum. These changes are frequently visible from the material's structure; for instance, cross-linking causes the substance to harden when it is exposed to light. The market's expansion can be attributed to the rising need for cutting-edge, high-performance materials across a range of end-use industries. In addition, increased awareness regarding the benefits of employing photosensitive resin is also fueling the growth of this market.

This is due to its exceptional qualities, including outstanding mechanical strength, great heat and chemical resistance, and suitability for usage in a variety of end-use industries, including aerospace, construction materials, and medical and dental applications, among others.

COVID-19 Impact: COVID-19 Pandemic Has Paused the Polymer Market Growth

The impact of COVID-19 pandemic has been witnessed across wide range of sectors and industries. It has significantly impacted global industrial production and has left an indelible mark on the global economy. Polymer Resin industry is one of such major industries witnessing the crisis posed by this pandemic. The global output of polymer resin has experienced significant demand decline as the key end users are under suffering under production stoppage or are operating with extremely poor capacity utilization owing to the social distancing norms.

The supply of the product was simplified during the first quarter of the financial year 2020 according to long-term and short-term agreements with the producers. However, with a slump in global demand, the major end-users of polymer resins are refraining from renewing or extending the agreements until the pandemic is under control. These supply-demand mismatches are expected to create an over-supply of inventories that would lead to a dramatic price decline for some of the extensively used polymer resins.

Latest Trends

"Rise in R&D Activities to Fuel Market Growth "

The market for photosensitive materials is fueled by factors like advancements in semiconductor technology, expansion in the electronic sector, rising R & D expenditures for novel adaptive polymers, high demand for cost-effective installation, and rising demand in the textile sector for adaptive polymers used in clothing to block harmful light. To establish a strong product range and boost brand value in the digital camera industry, manufacturing is developing new technologies and focusing on e-commerce platforms. X-rays, excimer lasers (far-infrared), ultraviolet light, visible light, extreme ultraviolet (EUV), and electron beams are the different categories of photosensitive wavelength.

Photosensitive Polymer Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into photosensitive reversible, photosensitive irreversible. Photosensitive reversible is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into aerospace & defense, automotive, medical, printing industry, construction, others. Aerospace & defense will be the dominating segment.

Driving Factors

"Rapid Development of New Glasses to Foster Market Growth "

Thanks to the development of new glasses and the development of reliable ultrashort pulse lasers, light sensitivity is used in bulk glasses. There are currently several classes of light-sensitive glasses that allow the use of high-quality optical elements such as photopolymers, doped silica or undoped silica excited by short or ultrashort pulses, chalcogenides, and now multicomponent silicate vitreous photothermobent glass is  possible. The introduction of photosensitive materials in photography, semiconductors and graphics has accelerated the growth of the market. Major market players are focusing on strengthening their position by implementing key strategies such as focusing on emerging application trends and launching new products. A new light-sensitive shape memory polymer that can be applied in 3D printing technology by UV curing is developed and launched.

"Growing Construction and Increased Industrialization to Accelerate Market Growth "

Construction was the largest application segment in 2017. Photosensitive attenuators are used for coating, printing and writing on building materials such as cement compounds, roof tiles, wall panels, pipes, etc. They are also used in paints, and coatings provide corrosion protection and improve paint adhesion. The demand for the products is expected to grow due to its increasing use in the production of construction materials in all regions of the world during the forecast period. 

 The aerospace industry is one of the main users of photosensitive resins due to their superior performance  compared to other polymer-based or metal-based fillers  currently used by manufacturers to produce lightweight components and durable aircraft interior/exterior surfaces. In addition, they have excellent resistance to solvents and water and high temperatures, which will increase their demand in this application segment during the forecast period.

Restraining Factors

"High R&D Costs May Restrict the Market Growth"

High R&D costs increase the overall cost of global polymers, which is expected to slow down the market growth during the forecast period.

Photosensitive Polymer Market Regional Insights

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"Asia Pacific Predicted to Be the Dominating Region During Forecast Period"

Asia Pacific dominated the global market with more than 40.0% of turnover in 2019. The region is expected to grow significantly due to increasing demand for consumer electronics, automobiles, and construction materials. China is expected to remain an important consumer and producer due to its large-scale ceramic production and rapid industrialization and urbanization in recent decades, which has led to China being one of the world's largest producers, along with India. .

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Mitsui Chemical (Japan)
• Stratasys Ltd. (Israel)
• Arkema SA (France)
• BASF SE (Germany)
• Evonik Industries AG (Germany)
• SABIC (Saudi Arabia)
• Dow (U.S.)
• Royal DSM (Netherlands)
• 3D Systems Corporation (U.S.)
• Photocentric Ltd.(U.K.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.