PUBLISHER: Grand View Research | PRODUCT CODE: 1363080
PUBLISHER: Grand View Research | PRODUCT CODE: 1363080
The global photopolymers market is anticipated to reach USD 5.78 billion by 2030, according to a new report by Grand View Research, Inc.. The market is expected to expand at a CAGR of 10.6% from 2023 to 2030. Rising demand for prototyping across the automotive industry and designs for understanding complex surgical procedures have increased the demand for photopolymer for 3D printing. Furthermore, increasing demand for artificial jewelry and prosthetics across the global population are further propelling the market growth.
Photopolymers are imaging compositions, based on polymers, oligomers, and monomers which can be polymerized accordingly and cross-linked upon image-wise exposure to light radiation such as ultraviolet (UV) rays. Photopolymers used across VAT polymerization in the 3D printing processes are used in liquid form and when exposed to UV rays in the form of a laser (SLA 3D printing technology) or scattered light source (DLP/cDLP 3D printing technology), undergo polymerization process which hardens them into the desired shape, as per the requirement of the final 3D printed product.
Photopolymers have gained traction from VAT polymerization-based 3D printing technologies, including stereolithography (SLA), digital light processing (DLP), and continuous digital light processing (cDLP) owing to their higher conversion from the liquid state to solid state, higher aesthetic component quality, enhanced versatility, material performance, and part longevity. The manufacturing of prototypes for jewelry, dental, and automotive, among others, are the market drivers for the market across the globe.
The market space is highly competitive with the introduction of new technologies for high-quality and high-speed 3D printing by various companies. For instance, in May 2022, Merit3D set a record for printing 60,000 parts in a time period of eight hours. The record was accomplished using Magna 3D printers for high-speed polymerization technology offered by Photocentric.