3D printing, also popularly known as additive manufacturing, is a technology that uses a printer and a digital file to produce physical and tangible objects. The digital file is technically known as computer-aided design and is made according to the print requirement, materials type, and printer used to manufacture the product. The market segmentation according to materials type is divided into key segments of commodity polymers, high performance polymers, bioplastics, and elastomers, among others.
The main application areas of 3D printing plastic materials are in aerospace & defense, automotive, and healthcare among others. It is continuously expanding its base in various end-use industries such as aerospace & defense, medical & healthcare, transportation, oil & gas, and electrical & electronics. The increased use of 3D printing technology in these industries is expected to contribute toward the growing demand for 3D printing materials such as 3D printing high performance plastic. These materials are highly useful for producing complex and intricate parts since they withstand extreme temperature conditions. This is expected to increase the demand of 3D printing high performance plastic in the coming years, thereby leading to the growth of the 3D printing high performance plastic market. However, high price of 3D printing is the biggest hindrance for the market.
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the 3D-printing high performance market in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the 3D-printing high performance market.
Top Impacting Factors
Globally, the demand for 3D printing plastic materials is high in economically developed countries, whereas the developing regions are catching up the pace. Extensive consumption of plastic materials comes from aerospace and automotive domains due to changing product designs from time to time. Further, the light weight of the OEM components for better fuel efficiency to reduce carbon footprint is an additional factor boosting the exponential growth of 3D printing plastics in the upcoming years. This growth is supported by lucrative, fast-growing technological industries, and the growing manufacturing across the globe.
- Government initiatives to support adoption of 3D printing high performance plastic technologies in different industries.
- 3D printing is being used in various industries across the globe as it reduces the operating time and cost and enables mass production of goods. Governments of different countries around the world are taking initiatives to support the adoption of 3D printing high performance plastic in various industries. Government initiatives such as reimbursement policies and funding, coupled with various mergers and acquisitions among small and big firms for technological advancement, are boosting the growth of the 3D printing high performance plastic market. Initiatives by governments of different countries of Europe and Asia Pacific regions to carry out improvements in 3D printing technologies have led to the increased demand for these materials in various industries.
- Medical & healthcare is the largest end-use industry of 3D printing high performance plastic in terms of both value and volume and hence bolstering the market growth.
- 3D printing high performance plastic are widely used in medical & healthcare industry. Materials such as PEEK have found novel applications in spine implant design and is now broadly accepted as a radiolucent alternative to metallic biomaterials in the spine implant field. They also have high demand in orthopedic implants and bio-printing human organs. Variety of 3D printing high performance plastic are also used in manufacturing medical devices such as surgical equipment, prosthetics & implants, and tissue engineering products driving the growth of the market.
- Development of Application-Specific Grades of 3D Printing High Performance Plastics
- North America accounted for the major share in the 3D printing high performance plastics market, followed by Europe and APAC. The robust medical & healthcare, government support for aerospace & defense industries, and huge investments in research & development of novel high-performance plastics are triggering the growth of these plastics in the region. The region accounts for significant share of the global healthcare expenditure, which offers new avenues for medical-grade high performance plastic manufacturers to tap the medical & healthcare industry of the region.
Key Benefits of the Report
- This study presents the analytical depiction of the 3D-printing high performance industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the 3D-printing high performance market share.
- The current market is quantitatively analyzed to highlight 3D-printing high performance market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed 3D-printing high performance market analysis based on competitive intensity and how the competition will take shape in coming years.
3D-Printing High Performance Market Report Highlights
Key Market Players
3D Systems Corporation, Lehman & Voss &Co., 3DXTECH, DuPont, Arkema S.A., EOS GmbH Electro Optical Systems, 3D4Makers, Evonik Industries AG, BASF New Business GmbH
Other Key Market Players
Royal DSM N.V.