Polymer Additive Manufacturing Market Size, Share, Growth, and Industry Analysis, By Type (Polymer Powder Bed Fusion, Vat Photopolymerization, Material Extrusion, Material Jetting and Binder Jetting), By Application (Transportation, Industrial, Life Sciences, Military and Aerospace and consumer), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Polymer Additive Manufacturing Market REPORT OVERVIEW

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The global polymer additive manufacturing market size was 9679.38 million in 2022. As per our research, the market is expected to reach USD 15576.79 million by 2028, exhibiting a CAGR of 8.25% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with polymer additive manufacturing experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Polymer Additive Manufacturing (Polymer AM), also known as 3D printing with polymers, is a manufacturing process that involves creating three-dimensional objects by adding material layer by layer. It is a subset of the broader additive manufacturing or 3D printing technology. Polymer 3D printing uses a wide range of plastic-based materials, including thermoplastics and thermosetting polymers. Common materials used in polymer additive manufacturing include PLA, ABS, PETG, nylon, and many more. Each material has its own properties, such as strength, flexibility, and heat resistance, making them suitable for different applications.

Polymer additive manufacturing has a wide range of applications across industries. It is commonly used for rapid prototyping to create physical models of products for testing and design validation. Prototyping, tooling, and some end-use parts, like interior components, can be 3D printed with polymers. Parts for aircraft, drones, and satellites can be manufactured with Polymer additive manufacturing for their lightweight and geometric complexity advantages. Customized consumer products like smartphone cases, eyewear frames, and fashion accessories are made with this technology.

COVID-19 IMPACT: Increased Demand for Medical Supplies to Boost Demand Significantly

COVID-19 had a life changing impact globally. The polymer additive manufacturing market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for polymer additive manufacturing experienced an increased demand.

The pandemic disrupted global supply chains, causing delays in the delivery of 3D printing materials and components needed for polymer additive manufacturing systems. This initially led to challenges in maintaining production schedules. In the early stages of the pandemic, some companies postponed or canceled investments in 3D printing technology due to economic uncertainties and disruptions.

The COVID-19 crisis highlighted the flexibility of polymer additive manufacturing technology. Many companies and individuals turned to 3D printing to manufacture critical medical supplies such as face shields, ventilator components, and nasal swabs. This surge in demand for 3D-printed medical equipment showcased the rapid prototyping and production capabilities of polymer additive manufacturing. Some companies in the polymer additive manufacturing space pivoted to focus on producing pandemic-related products, which helped them remain operational during lockdowns and contributed to efforts to combat the virus. The market is anticipated to boost the polymer additive manufacturing market share following the pandemic.

LATEST TRENDS

"Advancement in Manufacturing Technology to Broaden Market Growth"

Integration with digital manufacturing systems and Industry 4.0 initiatives was on the rise. This included the use of digital twins for process optimization and quality control. Automation in the form of robotic systems for part removal, quality inspection, and post-processing was becoming more prevalent. Automated post-processing helped improve the efficiency and consistency of 3D-printed parts. Advancements in hardware and software were enabling multi-material and multi-color 3D printing, allowing for greater design complexity and customization.

The development of advanced polymer materials was a significant trend. Companies were working on creating materials with improved properties, such as increased strength, durability, and heat resistance. This expanded the range of applications for polymer additive manufacturing. These latest developments are anticipated to boost the polymer additive manufacturing market share.

Polymer Additive Manufacturing Market SEGMENTATION

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• By Type

Based on type, the market is divided into Polymer Powder Bed Fusion, Vat Photopolymerization, Material Extrusion, Material Jetting and Binder Jetting.

• By Application

Based on application, the market is bifurcated into Transportation, Industrial, Life Sciences, Military and Aerospace and consumer.

DRIVING FACTORS

"Rapid Prototyping to Boost Market Share"

Polymer additive manufacturing allows for the creation of highly customized and personalized products, which is especially appealing to consumers in industries like healthcare, fashion, and consumer goods. The technology allows for the production of complex and intricate geometries that are challenging or impossible to achieve with traditional manufacturing methods. This is advantageous in industries like aerospace and automotive for lightweight and efficient designs. It enables rapid prototyping, allowing companies to quickly iterate and test product designs before moving to mass production. This reduces development time and costs.

"Sustainability Initiatives to Boost Market Size"

Increasing environmental awareness has driven interest in sustainable manufacturing practices. Polymer additive manufacturing, with its reduced material waste and potential for recycling, aligns with sustainability goals. Unlike subtractive manufacturing methods, which involve cutting away material from a solid block, polymer additive manufacturing is an additive process. This means there is minimal material waste, contributing to sustainability efforts. These factors are anticipated to drive the polymer additive manufacturing market share.

RESTRAINING FACTORS

"Material Limitations to Hamper Market Share"

Despite advancements, some polymer additive manufacturing materials may not possess the desired mechanical properties, temperature resistance, or durability needed for certain applications. This restricts the range of parts that can be effectively produced using 3D printing. Many 3D-printed parts require extensive post-processing, such as sanding, painting, or assembly, to meet quality standards. This can add time and cost to the manufacturing process. The initial cost of 3D printers and specialized materials can be relatively high. Smaller businesses may find it challenging to make the necessary investments. The factors are anticipated to hinder the growth of the polymer additive manufacturing market share.

Polymer Additive Manufacturing Market REGIONAL INSIGHTS

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"North America Dominates the Market with Strong Technological Innovations"

North America has a wide range of industries, including aerospace, healthcare, automotive, and consumer goods, which have adopted polymer additive manufacturing for various applications. This diversity contributes to the market's strength. The United States has been a major player in the polymer additive manufacturing market due to its strong technological innovation, robust industrial base, and a large number of companies involved in 3D printing technology development and manufacturing.

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 in 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 portfolio.

List of Market Players Profiled

• Covestro [Germany]
• EOS [Germany]
• SABIC [Saudi Arabia]
• Henkel [Germany]
• Shining 3D [China]
• 3D Systems [U.S.]
• Roboze [Italy]
• Stratasys [U.S.]
• Ultimaker [Netherlands]
• Carbon [U.S.]
• Prodways [France]
• Mitsubishi Electric Corporation [Japan]
• HP Inc. [U.S.]
• Voxeljet [Germany]
• EnvisionTEC [U.S.]
• Essentium [U.S.]
• Farsoon [China]
• Formlabs [U.S.]
• Arkema [France]
• Solvay [Belgium]
• Lehmann & Voss [Germany]
• UnionTech [China]
• BASF [Germany]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of 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, restraints and other. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.