Increasing Demand from Aerospace, and Defence Sectors to Fuel 3D Printing Polymer Material Market Growth
Whilst the number of commercial usable polymers are accessible, not a single polymer offers one the required properties for a particular application - the atmosphere, and conditions (e.g., temperature, mechanical load, UV light, chemical exposure, radiation, and moisture), 3D printing method, availability, and process ability under which the component is exposed must be considered. Moreover, no specific polymer present on the market can be printed using a single additive manufacturing technique – allows for fluid design, complicated macro and microstructures, and simple modelling, and optimisation. Additive manufacturing thus is embraced as a main production method to print prototypes, and final components by industries including biomedical engineering, transport, and the military. 3D printing polymer material market is thus projected to exhibit promising growth in the near future.
The material selection of 3D printing polymer materials is focused on the product and the desires of the customers. Polymers are used for producing PET bottles, dolls, tools, luggage, phones, computers, appliances, cushions, electronics, and transportation parts. Thus, the polymers have become consumer products. Rising demand for 3D polymer printing, combined with the rising need for high-performance materials across various industries such as aerospace and military, is expected to drive expansion of 3D printing polymer material market. The aerospace & defence, healthcare, and automotive sectors are likely to contribute significantly to the growth of 3D polymer printing throughout the forecast period due to the active adoption of technology in various production processes connected to these verticals. To meet increased demand, the aviation industry is embracing three-dimensional technologies. A total of 950 global commercial aircraft deliveries were made in 2021. As a result of the increased number of aircraft, the market is likely to expand in the approaching years.
A key driver for 3D printing polymer material market is the increasing use of 3D printers for product design and prototypes, which is associated with lower manufacturing costs and more precision in the car completed product. 3D-printed car components are lighter, resulting in a lighter vehicle with improved performance and lower energy use. Aside from rapid prototyping, the technique is also used to create tooling and, in certain cases, finished goods. Global car sales grew to around 66.7 million units in 2021, up from approximately 63.8 million units in 2020. As the number of automobiles continues to rise, so will the demand for 3D polymer printing in the coming years.
Healthcare Industry Dominant in Polymer 3D Printing Polymer Material Market with Varied Application
In the forecast period, the healthcare end-use category led the market, accounting for a major share of worldwide revenue. The cost-effectiveness, simplicity of customization, and rising prevalence of vascular and arthritic illnesses are driving the demand for 3D printing plastics in the medical business. The enhanced technology, favourable government assistance, and quick product development are projected to drive medical product demand. The rising demand for medical components such as face shields, mask clips, 3D printed masks, and filter coverings as a result of the COVID-19 pandemic are expected to drive expansion of 3D printing polymer material market. The expansion in dentistry can be ascribed to the increased use of polymer materials for creating scaffold structures because of their superior biological and mechanical qualities, simplicity of processing, cheap production cost, and lightweight than metals, and ceramics.
North America Acquired Largest Share due to Increased Government Initiative
North America led global 3D printing polymer material market because of the region's significant adoption of additive manufacturing. Factors such as better material usage, reduced human errors, product customisation, and reduced production time and cost are driving the North American 3D printing polymer material market. North American countries such as the United States, and Canada were among the first to use this technology in a range of manufacturing processes. Polymer 3D printing has tremendous promise in the regional market for a range of applications. The adoption of this technology in this region is being driven by the American government's initiatives for 3D printing development and R&D financing. President Biden announced a new plan in May 2022 to promote 3D printing technology, reducing reliance on the global supply chain and boosting investment in local and medium-sized firms. As a result, the increased initiative by both private and public sector participants would enhance the regional market.
Asia Pacific is predicted to increase at the quickest rate over the projection period. This quick acceptance of polymer 3D printing in Asia Pacific can be linked to the region's industrial industry advancements and upgrades. The Asia Pacific region is emerging as an automobile manufacturing powerhouse. Over 34 million passenger autos are expected to be sold in the Asia Pacific region by 2021, with over 21 million sold in China. A focus on consumer electronics manufacture, combined with expanding urbanisation, is also contributing to the region's growing need for three-dimensional printing. APAC businesses have demonstrated an increasing interest in creating a sustainable 3D printing environment, and governments in the region have enacted a variety of policies, and legislative initiatives.
Global 3D Printing Polymer Material Market: Competitive Landscape
By generating new products, the sector is forging alliances, collaborations, and partnerships. In March 2022, the Saudi Arabian Industrial Investments Company (Dussur), and 3D Systems, the leading provider of additive manufacturing solutions, have agreed to extend the use of additive manufacturing (AM) in the Kingdom of Saudi Arabia and neighbouring regions, including the Middle East, and North Africa. In March 2022, Evonik, a specialty chemicals business, and Asiga, a 3D printer maker in Australia, announced a collaboration in photopolymer-based 3D printing. Both businesses hope to advance large-scale industrial 3D printing by expanding the capabilities of today's photo-curing technologies.
Few of the players in the 3D printing polymer material market include 3D System (US), Royal DSM (Netherlands), Stratasys Ltd. (US), EOS GmbH Electro Optical ExOne Company (US), Systems (Germany), Arkema S.A. (France), Materialise NV (Belgium), Sandvik AB (Sweden), General Electric (US), and Höganäs AB (Sweden).
Global 3D Printing Polymer Material Market is Segmented as Below:
By End-Use Industry
Key Elements Included In The Study: Global 3D Printing Polymer Material Market
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