Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Photopolymers Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
This report delves into industry size, share, trends, and opportunities, offering a forecast for the years 2018-2028. The study reveals that the market, which was valued at USD 2.12 billion in 2022, is poised to achieve robust growth with a projected CAGR of 9.67% through the end of the forecast period.
Key Market Drivers Reshaping the Photopolymers Landscape
The escalating demand for photopolymers across diverse sectors is driving substantial market expansion. In the dental industry, photopolymers are being increasingly adopted for restorative procedures and orthodontic applications, owing to their precision and biocompatibility. The surge in the need for prototyping within the automotive industry, and the rising preference for customized jewelry and prosthetics, are other pivotal factors fueling market growth.
Advancements within the Dental and Medical Sectors Spurring Demand
- Dental Sector: The market is witnessing heightened demand in the dental sector, with photopolymers playing a crucial role in restorative dentistry and orthodontics, facilitating aesthetically pleasing results and durable restorations.
- Medical Sector: Photopolymers have also found extensive applications in medical device manufacturing, diagnostics, and innovative drug delivery systems, boosting their demand within this critical industry.
Increasing Use of Photopolymers in Audiology
The Audiology sector, too, is propelling market growth due to the growing demand for advanced hearing aids and implantable auditory devices. These photopolymer-based solutions offer customization and enhanced performance essential for addressing hearing-related conditions.
Key Challenges Impacting the Market Dynamics
Despite the positive outlook, the market faces challenges such as fluctuating raw material costs and intellectual property concerns, which pose obstacles to expansion. Moreover, environmental factors and stringent regulatory compliance requirements add layers of complexity for market players.
Technological Innovations and Applications Showcasing Significant Trends
Advances in material science have cultivated an environment where high-performance photopolymers are increasingly utilized within the 3D printing realm. Additionally, medical applications and the packaging and labeling sector are key areas where photopolymers are being utilized for innovative solutions and improved product performance.
Geographic Proliferation and Segmental Insights
Europe stands as a dominant region in the photopolymers market, propelled by its robust manufacturing sector and forward-thinking healthcare industry. Dental applications have emerged as a significant segment driving the market due to the increased utilization of photopolymers for precision and custom dental solutions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $2.12 Billion |
| Forecasted Market Value (USD) by 2028 | $3.67 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- Henkel AG & Co. KGaA
- Arkema S.A.
- Evonik Industries AG
- BASF SE
- ANYCUBIC Technology Co. Ltd.
- Keystone Industries
- Stratasys Ltd.
- Liqcreate
- Photocentric Ltd. U.K.
- Carbon, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/k6m4dk
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