Polymers play a vital role in additive manufacturing as they are used as a raw material for 3D printing. Commonly used polymers for 3D printing include nylon, acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), polypropylene (PP), and polyethylene (PE). These polymers offer advantages like durability, flexibility, UV resistance, lightweight, and low-cost. Additive manufacturing allows the production of complex shapes and customized products using 3D printers which traditional manufacturing struggles to produce.
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 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The wide range of applications across industries such as automotive, aerospace, healthcare, and consumer goods is expected to drive the growth of the polymers for additive manufacturing market over the forecast period. Additive manufacturing helps in rapid prototyping and reducing design iterations which leads to significant cost savings for manufacturers. It allows modifying designs on the fly and produces parts with complex geometry which is otherwise difficult with traditional manufacturing methods. The ability of 3D printing technologies to print using different polymers as per application requirements is boosting their adoption across industries.
Porter’s Analysis
Threat of new entrants: The polymers for additive manufacturing market requires heavy investments in R&D for developing advanced materials. Additionally, the presence of established players makes it difficult for new players to gain significant market share.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of various polymer manufacturers. However, specialized requirements from different industries confer some power to buyers.
Bargaining power of suppliers: Material suppliers have moderate-to-high bargaining power owing to their differentiated offerings and capabilities. Suppliers can also integrate backwards and offer 3D printing services.
Threat of new substitutes: No direct substitutes exist for polymers used in additive manufacturing. However, advancements in alternative 3D printing materials like metals and ceramics pose a threat.
Competitive rivalry: Intense due to the presence of major global players and established regional manufacturers. Players compete based on product portfolios, pricing, innovation, and customer relationships.
SWOT Analysis
Strengths: Wide applications in industries like automotive, healthcare, consumer goods boosts demand. Ability to produce complex designs restricts usage of traditional manufacturing.
Weaknesses: High material costs. Limited capabilities for printing very large or durable parts.
Opportunities: Increasing R&D investments to develop advanced materials widen scope. Emerging applications in sectors such as aerospace & defense present growth prospects.
Threats: Stringent regulations over material usage impact supply. Economic slowdowns lower discretionary spending on 3D printing.
Key Takeaways
The Global Polymers For Additive Manufacturing Market Size is expected to witness high growth led by burgeoning demand from end-use industries. The automotive sector accounted for the largest share of the market in 2021 owing to use of 3D printing for rapid prototyping and manufacturing functional prototypes. 3D printed polymers find increasing usage in making interiors, fixtures, and specialized components in automobiles. 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 2024-2031.
Regionally, Asia Pacific dominated the global polymers for additive manufacturing market in 2021 and is projected to expand at the fastest pace during the forecast period. Significant presence of automotive and healthcare industries in China, India, and other developing nations drives the regional market. Japan and South Korea are also major countries contributing to market growth in Asia Pacific.
Key players operating in the polymers for additive manufacturing market 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. The market remains fairly concentrated with top players accounting for sizeable shares. Market leaders are focusing on developing innovative materials with advanced properties to further expand applications of 3D printing.
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