by Introduction
The global Polymers for Additive Manufacturing Market is estimated to be valued at US$ 147.6 Mn in 2019 and is projected to reach US$ Bn/Mn by 2022, with a significant CAGR of 23.0% during the forecast period (2020-2027). This market research report by Coherent Market Insights highlights the growth potential, market trends, Porter’s Analysis, and key takeaways for industry stakeholders.
Market Overview
The Polymers for Additive Manufacturing Market offers versatile, cost-effective, and sustainable solutions for various industries, including aerospace, automotive, healthcare, and consumer goods. This market involves the use of polymers as raw materials in the additive manufacturing process, commonly known as 3D printing. The advantages of polymer-based additive manufacturing include design flexibility, reduced material waste, improved product customization, and faster production cycles.
Market Key Trends
One key trend in the Polymers for Additive Manufacturing market is the growing demand for bio-based polymers. With the increasing environmental concerns and the need for sustainable alternatives, the market has witnessed a shift towards bio-based polymers. These polymers are derived from renewable resources, such as cornstarch, algae, and sugarcane, making them more eco-friendly. For instance, NatureWorks LLC offers a bio-based polymer called Ingeo, which is widely used in 3D printing applications.
Porter’s Analysis
– Threat of new entrants: The threat of new entrants in the Polymers for Additive Manufacturing market is moderate. While the market offers substantial growth opportunities, the presence of well-established players and high initial investment costs act as barriers to entry for new entrants.
– Bargaining power of buyers: The bargaining power of buyers is high in this market. Buyers have the advantage of choosing from a wide range of polymer suppliers, allowing them to negotiate competitive prices and quality.
– Bargaining power of suppliers: The bargaining power of suppliers is moderate in the Polymers for Additive Manufacturing market. Although there are multiple suppliers, the demand for high-quality polymers and customization requirements give suppliers some leverage.
– Threat of new substitutes: The threat of new substitutes is relatively low in this market as polymers remain the primary material of choice for additive manufacturing due to their unique properties and versatility.
– Competitive rivalry: The competitive rivalry is intense among key players in the Polymers for Additive Manufacturing market. Companies are investing in R&D activities, strategic partnerships, and mergers to gain a competitive edge and expand their market share.
Key Takeaways
– The global Polymers for Additive Manufacturing Market is expected to witness high growth, exhibiting a CAGR of 23.0% over the forecast period. Drivers such as increasing demand for lightweight and complex parts, cost-effectiveness, and design flexibility are fueling this growth.
– In terms of regional analysis, North America is the fastest-growing and dominating region in the Polymers for Additive Manufacturing market. The presence of major market players, technological advancements, and the adoption of 3D printing across industries contribute to this region’s growth.
– Key players operating in the global Polymers for Additive Manufacturing Market include Arkema S.A., Covestro AG, DuPont, Inc., EOS GmbH, Evonik Industries AG, INTAMSYS, Prototal Industries, Stratasys Ltd., BASF SE, Saudi Basic Industries Corporation (SABIC), Huntsman International LLC., and NatureWorks LLC.
In conclusion, the global Polymers for Additive Manufacturing Market is poised for significant growth as the demand for lightweight and customized products continues to rise. The market’s key trends, including the adoption of bio-based polymers, along with Porter’s Analysis, provide insights into the industry dynamics. By monitoring these trends, industry stakeholders can capitalize on the growing opportunities and stay ahead in this competitive market.
