The global polymer additive manufacturing market is poised for remarkable growth, with an estimated CAGR of 24.1% during the period 2023 to 2030. By the end of 2030, the market is anticipated to reach a substantial valuation of approximately US$44 billion.
Market Overview:
Polymer additive manufacturing, often referred to as 3D printing, enables the creation of intricate and unique polymer parts. This process involves the layer-by-layer deposition of materials using computer-aided design (CAD) software to produce three-dimensional objects. The technology offers numerous advantages, including shorter lead times, cost-effective production, design flexibility, and the ability to create complex geometries. Consequently, the polymer additive manufacturing market has witnessed significant growth in recent years, driven by the increasing adoption of 3D printing technology across various industries.
Key Report Findings:
- The polymer additive manufacturing market is projected to experience substantial revenue growth during the forecast period from 2023 to 2030.
- The demand for polymer additive manufacturing is on the rise, especially in industries like aerospace and automotive, where lightweight, strong, and complex parts are essential.
- Fused deposition modelling (FDM) remains the most popular technology category in the market.
- North America is expected to maintain its leadership position, while the Asia Pacific market is poised for the strongest growth through 2030.
Market Drivers:
Development of Affordable, High-Performing 3D Printing Materials:
The market for polymer additive manufacturing is expanding due to the development of cost-effective, high-performance 3D printing materials. These materials play a crucial role in meeting the rising industrial demand for 3D printing. For instance, robust and durable plastics like acrylonitrile butadiene styrene (ABS) and biodegradable polymers like polylactic acid (PLA) are widely used in various 3D printing methods such as digital light processing (DLP) and stereolithography (SL). Furthermore, several manufacturers are collaborating to create economically viable selective laser sintering (SLS) printing processes for high-performance polymers like polyphenylene sulfide (PPS) and polyetheretherketone (PEEK). These advancements in material technology are expected to drive market growth.
Rising Adoption in the Automotive Sector:
The automotive industry is increasingly adopting polymer additive manufacturing for producing finished automotive parts. Major automotive manufacturers such as Volkswagen, BMW, and Ford are utilizing polymer additive technology for the production of final automobile components. Polymer additive manufacturing enables the production of essential components and designs using 3D printers, reducing dependence on external suppliers and streamlining production processes. This technology offers design freedom, quick prototyping, and reduced material waste, making it an attractive choice for the automotive sector. For example, Ford employs 3D printing to create parts, and General Motors relies on 3D printing to develop complex components and lightweight, battery-efficient vehicles to meet emission goals.
Market Challenges:
Climbing Costs of Machinery and Materials:
The cost associated with machinery and materials presents a significant challenge to the polymer additive manufacturing market. Initial investments and ongoing expenses related to 3D printing equipment and materials can be barriers for businesses considering adoption, despite the numerous benefits of 3D printing. Industrial-grade 3D printers, particularly large-format machines or multi-material printers, can entail significant costs. Small and medium-sized businesses (SMEs) may find it financially challenging to embrace advanced 3D printing technology.
Moreover, specialized filaments and resins used in 3D printing, particularly high-performance polymers and composite materials, can be more expensive compared to conventional production materials. Using such materials can substantially increase manufacturing costs, often necessary for specific applications. Additionally, the operation and maintenance of 3D printing equipment may require specialized skills and training, leading to additional expenses. Post-processing procedures, including support removal, cleaning, and finishing, are often necessary for 3D-printed items, extending production time and increasing labor costs.
Overview of Key Segments:
FDM Remains a Leading Technology Category:
Fused deposition modelling (FDM) is the dominant technology category in the polymer additive manufacturing market. FDM has gained widespread adoption due to its versatility, adaptability, and increasing use across various industries. As 3D printing technology advances, FDM, along with other technologies like selective laser sintering (SLS) and stereolithography (SLA), is expected to continue playing a significant role in the industry. Advancements in FDM technology and the development of novel materials are poised to further drive market growth.
FDM is a well-known and frequently used 3D printing process, where thermoplastic filament serves as the feedstock material. FDM offers flexibility in material selection, supporting a wide range of thermoplastics, including ABS, PLA, PETG, nylon, and more. This process is known for its efficient use of materials, generating less waste compared to traditional manufacturing methods.
Demand from Electronics Industry Rises:
The consumer electronics industry accounted for the highest demand for polymer additive materials in 2022. Sensors play a crucial role in maintaining the demand for polymer additive materials, as they are widely used to monitor and enhance the 3D printing process. Sensors track various variables in real-time, including temperature, humidity, print head position, material flow, and build platform placement. Real-time monitoring allows for rapid corrections, ensuring successful printing.
Sensors are also used to assess the quality of printed objects by examining dimensions, surface quality, and other critical factors. This information helps identify flaws or discrepancies, facilitating quality control and process improvement. Additionally, some advanced 3D printing systems employ sensors to regulate material parameters during printing, such as temperature control to prevent warping or ensure proper layer adhesion. The integration of sensors aligns with the concept of Industry 4.0, where smart manufacturing systems leverage data, automation, and connectivity to enhance productivity and product quality.
Growth Opportunities Across Regions:
North America A Hotbed for 3D Printed Polymer Materials:
North America is expected to continue dominating the polymer additive manufacturing market. The region is home to established economies, including the United States and Canada, known for early adoption of cutting-edge technology. The United States, in particular, has been a leader in 3D printing technology development. It hosts numerous top 3D printer manufacturers, academic institutions, and technology firms, fostering innovation and new product development.
Government programs and investments in polymer additive manufacturing are contributing to market growth in the United States. Additionally, Canadas collaboration among research universities in polymer additive manufacturing is significantly influencing market expansion. The use of polymer additive manufacturing in the defense industry to produce vehicle and weapon parts further drives growth. With substantial investments in R&D, the United States is poised to accelerate market expansion in polymer additive manufacturing.
Asia Pacific Has Noteworthy Prospects in Store:
The Asia Pacific region is poised for significant growth in the polymer additive manufacturing market, driven by emerging economies like China and India. The aerospace and automotive sectors in China are contributing to the regions demand for polymer additive manufacturing. Government emphasis on fostering the adoption of polymer additive manufacturing in manufacturing industries is expected to boost market growth.
Many countries in the Asia Pacific region have implemented policies and programs to support innovative manufacturing technologies, including polymer additive manufacturing. Government backing has accelerated research, development, and acceptance of 3D printing technology. Enterprises across various industries in the region are increasingly adopting polymer additive manufacturing for purposes such as rapid prototyping, tooling, and production of finished parts.
Polymer Additive Manufacturing Market: Competitive Landscape:
Leading players in the polymer additive manufacturing market include 3D Systems, Protolabs, Arkema S.A., Xometry Inc., Covestro AG, DuPont, Inc., EOS GmbH, Hexagon AB, Evonik Industries AG, INTAMSYS, Stratasys Ltd., and Solvay S.A. These industry leaders are at the forefront of driving innovation and technological advancements in polymer additive manufacturing, contributing to the industrys growth and transformation.
Browse Global Polymer Additive Manufacturing Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Hardware Technology Coverage, By Material Coverage, By End User Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/polymer-additive-manufacturing-market
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This press release first seen on Brilad
COMTEX_440962494/2840/2023-09-26T06:12:01
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