The Global photopolymer market is estimated to be valued at US$ 6.39 Bn in 2024.
Photopolymer, also known as photo-polymer or photopolymeric resin, is a type of polymer that changes its properties when exposed to light, usually ultraviolet light. It is finding increasing usage in printing plates, 3D printing, printed electronics and other applications owing to advantages such as high resolution, durability and cost-effectiveness. Photopolymers provide excellent image quality and lasting impressions required for various commercial print jobs such as signage, labels, packaging and point-of-purchase displays. The rising demand from signage and packaging industries is driving the adoption of photopolymer plates in commercial printing.
The Global photopolymer market is estimated to be valued at US$ 6.39 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the photopolymer market are Henkel AG & Co. KGaA, Arkema, Stratasys, BASF SE, Keystone Industries, Formlabs, Carbon, Inc., Evonik Industries AG, Liqcreate, ANYCUBIC Technology Co., Ltd., RAHN AG, polySpectra, MacDermid Graphics Solutions, FIP FLEXO, VGD BLOCKS. Henkel AG & Co. KGaA dominates the market,owing to its wide product portfolio and global presence.
The key opportunities in the photopolymer market include developments in new application areas. Photopolymer Market Demand are finding increasing usage in printed electronics where they are used as an alternative to conventional semiconductors. They allow printing of electronic circuits on flexible plastic substrates. Rising demand for printed flexible electronics from sectors like consumer electronics, medical devices and smart packaging is expected to drive the market growth during the forecast period.
The photopolymer market is witnessing significant global expansion as key players are investing in developing economies to tap the potential growth opportunities. Emerging economies in Asia Pacific and Latin America offer high growth potential for photopolymer owing to rapid industrialization and growing manufacturing sector. Key players are expanding their product portfolio and distribution networks in these regions which is assisting their global expansion plans.
Market drivers:
Growth in the commercial printing industry is a major driver for the photopolymer market. Rising urban population and growing middle class are contributing to increased demand for branding and promotional activities across industries like retail, FMCG etc. This is propelling the demand for general commercial printing which uses photopolymers. The increasing adoption of digital printing technologies is also augmenting the photopolymer market growth as photopolymers are widely used in large format and UV-curable inkjet printing systems.
Market restrain: Volatility in crude oil prices impacts the prices of raw materials used for producing photopolymers like acrylates and methacrylates which are petrochemical derivatives. Uncertainty and fluctuations in crude oil prices pose challenge for photopolymer manufacturers in terms of raw material procurement and price maintenance. This can restrain the market demand and growth to some extent over the forecast period.
Segment Analysis
The photopolymer market is dominating by the Stereolithography segment. Stereolithography is expected to account for the largest share in the photopolymer market during the forecast period. Stereolithography provides high-dimensional stability, accuracy, precision, and repeatability. It allows building of complex parts without support structures and produces smooth surface finishes. This makes stereolithography suitable for a wide range of applications in industries such as consumer products, automotive, healthcare, and aerospace & defense. The flexibility and precision of this additive manufacturing process will continue driving the growth of the stereolithography segment.
Global Analysis
Regionally, North America dominates the photopolymer market, followed by Europe and Asia Pacific. High technological advancements in the 3D printing industry and significant R&D activities in photopolymer materials are driving the photopolymer market growth in North America. The rising adoption of additive manufacturing technologies in various industries such as automotive, aerospace, and healthcare is also fueling the photopolymer consumption in North America. Asia Pacific is identified as the fastest growing region in the photopolymer market. Rapid industrialization, increasing per capita income, and growing demand from industries including consumer products and automotive are boosting the photopolymer demand in Asia Pacific countries like China and India.
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