Photopolymer Market is projected to reach USD 846.13 million by 2028 at a CAGR of 18.6% between 2018-2028. According to quince market insights, increasing demand in the Pharmaceutical Industry is one of the factors influencing the demand during the forecast period.
Increase in Demand for Multiple Application
3D Printing Photopolymer has been one of the established markets with demand from end-use industries such as the healthcare industry, aerospace & defense, automotive industry, electronics & electrical, and others.
Major Photopolymer types in these industries include ABS,
, and others. These photopolymers are divided into two groups based on filament form i.e. liquid/ink and powder. Some of the major factors influencing the growth of the market include increasing demand in the pharmaceutical industry, increasing the number of applications used in the healthcare sector, and the adoption of photopolymers instead of traditional polymer technology.
Substitutes to Traditional Polymer Technology
In the 3D printing market, PLA & ABS were the traditionally used polymers. With the increasing demand of the market, developers continue to explore plastic chemistries and capabilities to offer materials that compete with the traditional ones and they came up with this Photopolymer. These photopolymers are basically thermosetting plastics that can be hardened with exposure to some type of light-emitting sources.
Photopolymers developers are expected to take advantage of this characteristic and alter the mix of oligomers and monomers to develop specific physical properties such as stiffness or viscosity. Photopolymers are the most used materials in the 3D printing photopolymers market. These materials are inexpensive in comparison with metals and are significantly more reliable than traditional polymer technology.
Fastest-growing Market Region: Asia-Pacific
Along with this, the applications of 3D printing with photopolymers are growing exponentially expected to drive the growth of Global 3D Printing Photopolymer Market during the forecast period. Asia-Pacific to drive the market demand during the forecast period Asia-Pacific by region has been the fastest-growing market for has been the fastest-growing region owing to some of the fastest-growing economies such as China, India, South Korea, and others. These countries have witnessed tremendous infrastructural as well as industrial growth in the past few decades.
This has resulted in demand for photopolymers which substitutes the traditional polymer technology as these materials are inexpensive in comparison with metals and are significantly more reliable, which is one aspect behind their increasing popularity in this region.