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  • Published In : Jun 2024
  • Code : CMI7034
  • Pages :137
  • Formats :
      Excel and PDF
  • Industry : Polymers and Resins

Market Size and Trends

Global photopolymer market is estimated to be valued at USD 3.17 Bn in 2024 and is expected to reach USD 6.39 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.

Photopolymer Market Key Factors

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Global photopolymer market is expected to witness positive growth over the forecast period due to factors such as growing demand for 3D printing across various industries and technological advancements in photopolymer materials. Photopolymers find wide application in 3D printing as this help to create strong yet flexible 3D printed parts easily and quickly. 3D printing is gaining popularity in industries such as consumer goods, automotive, aerospace and defense due to its ability to produce customized and complex parts. Moreover, ongoing research & development in the field has led to development of newer photopolymer materials with improved properties such as high resolution, durability and temperature resistance. This expands application areas of photopolymers, and thus, boosts their demand.

Photopolymer Adoption across Industries

Growing adoption of photopolymers across various industries such as printing, healthcare, electronics can drive the growth of the global photopolymer market. Photopolymers find wide usage in stereolithography 3D printing owing to their properties like high accuracy, reliability and ability to produce complex geometries easily. 3D printing industry has been witnessing exponential growth over the past few years due to increasing demand from automotive, aerospace, consumer goods industries for prototyping as well as production applications. Photopolymers create precise plastic prototypes and customized products with complex internal structures, which was earlier not possible through conventional manufacturing methods. Another major industry boosting demand for photopolymer is healthcare where photopolymers are utilized for manufacturing hearing aids, dental crowns, surgical guides through 3D printing. The ability of photopolymers to quickly produce biocompatible scaffolds and implants with intricate designs make them ideal for such applications. With growing geriatric population worldwide requiring such medical devices, there has been increasing usage of photopolymers in healthcare 3D printing. Photopolymers are also used in electronics industry. Companies are exploring the feasibility of 3D printing flexible and stretchable electronic circuits and devices using photopolymers which can potentially reduce manufacturing costs and spur innovations.

Emergence of Advanced Photopolymer Formulations

Continuous product innovation and development of newer advanced photopolymer formulations by the manufacturers can drive the market growth. Major players are investing heavily in R&D to enhance the properties of photopolymers such as resolution, surface finish, stiffness, chemical and wear resistance. This allows them to be suitable for a wider range of high-performance applications. Specialty photopolymers with high heat resistance are being specifically designed for end use industries like aerospace where components require durable finishes. Elastic photopolymers mimicking the flexibility of human tissue enables better medical models for surgeons.  Technology improvements have also paved way for new genres of photopolymers like LCD (Liquid Crystal Display) screens and photoresists that are used extensively in the semiconductor sector. Manufacturers are engaged in new product launches of advanced polymers, thus, catering to emerging application areas.

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