London, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The global polymer additive manufacturing market is poised for remarkable growth in the years to come, with projections indicating a staggering value CAGR of 24.1% for the market during 2023 – 2030.
The market will possibly reach around US$44 Bn by the end of the forecast year, says a recently published report by Fairfield Market Research. By the end of 2030, the market valuation of polymer additive manufacturing is likely to reach US$44 Bn, indicates the report.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Estimated Market Size in 2030 | US$44 Bn | |
| CAGR | 24.1% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | 3D Systems, Arkema S.A., Covestro AG, DuPont, Inc., EOS GmbH, Hexagon AB, Evonik Industries AG, Solvay S.A. | |
One of the primary driving factors for market growth includes the increasing demand for lightweight, strong, and intricate parts across industries like aerospace, and automotive.
“The advantages of polymer additive manufacturing include reduced lead times, cost-effective production, design flexibility, and the capability to produce complex geometries. As a result, this market has experienced significant expansion over the recent past and is likely to explore a wider application range in the years to come,” marks the company analyst.
Key Research Insights
- The polymer additive manufacturing market is expected to witness substantial revenue growth between 2023 and 2030.
- Polymer additive manufacturing has gained substantial traction in industries like aerospace and automotive, driven by the demand for complex, lightweight, and durable components.
- Fused deposition modelling (FDM) remains the most popular technology in the market, owing to its versatility, adaptability, and widespread use across industries.
- Asia Pacific grows strong while North America continues to lead
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/polymer-additive-manufacturing-market
Insights into Segmentation Analysis
FDM Technology Retains the Top Spot
Fused deposition modelling (FDM) technology holds the largest share of the polymer additive manufacturing market revenue, thanks to its ease of use, adaptability, and broad applications across industries.
Alongside other technologies like selective laser sintering (SLS), and stereolithography (SLA), FDM is poised to play a pivotal role in the polymer additive manufacturing industry's evolution.
Continued advancements in FDM technology and the development of novel materials are expected to drive market growth, while the process's efficiency in material usage reduces waste compared to traditional manufacturing methods.
Surge in Demand from Electronics Industry
The consumer electronics industry led the market for polymer additive manufacturing in 2022, with sensors playing a vital role in maintaining demand for polymer additive materials.
Sensors are essential for monitoring and enhancing the 3D printing process, ensuring better control, efficiency, and product quality. Real-time monitoring by sensors helps detect anomalies and deviations, enabling rapid corrections for successful printing.
Additionally, sensors are instrumental in assessing the quality of printed items, facilitating quality control and process improvement.
Key Report Highlights
- With a strong emphasis on lightweighting, particularly in the automotive sector, the prospects for polymer additive manufacturing are on the rise.
- The advent of printing and material technologies, coupled with measurable cost reductions, have further propelled the growth of this market.
- Despite challenges like limited material options and slower production rates, this industry holds immense potential for innovation and has the capacity to revolutionise traditional manufacturing processes.
Insights into Regional Analysis
North America Develops a Hub for 3D Printed Polymer Materials
North America is expected to maintain its dominance in the polymer additive manufacturing market. The region boasts established economies like the United States, and Canada, which have been the earliest adopters of cutting-edge technologies.
The US, in particular, has been a frontrunner in 3D printing technology development, with numerous top 3D printer manufacturers, academic institutions, and technological firms fostering innovation.
Growing emphasis on polymer additive manufacturing in the defense industry and significant investments in research and development further support market expansion in the region.
Asia Pacific Brings in Promising Prospects
The Asia Pacific region is poised to witness a substantial CAGR in the polymer additive manufacturing market, driven by emerging economies like China, and India.
The key Asian countries are fueling growth, particularly in sectors like aerospace and automotive, where polymer additive manufacturing is in high demand.
Government initiatives and investments in innovative manufacturing technologies, including polymer additive manufacturing, have accelerated research, development, and adoption of 3D printing technology across various industries in the region.
Key Competitors in Global Polymer Additive Manufacturing Industries
Some of the prominent players in the global polymer additive manufacturing market space 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.
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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