PHOTOPOLYMER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Threat from substitute technologies is a major restraining factor for the global photopolymer market's growth. Rapid advancements in alternative 3D printing technologies like fused deposition modeling, stereolithography, binder jetting etc. allow manufacturers to achieve high resolution outputs at a lower cost as compared to photopolymer-based 3D printing solutions. These substitutes offer improved part properties, better print speeds and cost advantages. For example, as per a 2021 report by the European Union on New Industrial Policy, stereolithography now allows the production of parts with finer details and resolution compared to photopolymer systems. Similarly, binder jetting processes have significantly higher build volumes and print speeds. The easy availability of low-cost substitutes is persuading end-users to shift to alternative additive manufacturing methods from conventional photopolymer printing.

Market Opportunities: Emerging applications in electronics industry

The emerging applications in electronics industry promises to provide significant opportunities for the global photopolymer market in the coming years. Photopolymer resins and materials are increasingly finding widespread usage in 3D printing technologies which are revolutionizing the prototyping and manufacturing processes across several electronics domains. 3D printed designs and components provide manufacturing advantages over traditional methods in terms of speed, reduced lead time and geometric flexibility which allows conceptualizing complex designs with ease. This is driving many electronics giants to invest heavily in adopting 3D printing for producing prototypes and non-critical components.