by The global 3D printing polymer material market is on the cusp of significant growth, having exceeded a value of US$900 million in 2021. Experts project a robust revenue expansion of over 12% by the end of 2030. The market analysis underscores the pivotal role of polymers in 3D printing, citing their versatility and widespread use across industries. Notably, the consumer electronics sector is driving substantial demand, while other key industries, such as healthcare, automotive, and aerospace and defense, are also poised to stimulate market growth.
Key Findings
- Healthcare Industry Dominance: The healthcare sector continues to generate substantial demand for 3D printing polymer materials due to cost-effectiveness, customization capabilities, and the rising prevalence of medical conditions. The COVID-19 pandemic further accelerated this demand, particularly for medical equipment and personal protective gear.
- Aerospace and Defense Uptake: The aerospace and defense industry is increasingly adopting 3D printing polymer materials to meet performance and customization requirements. With the aviation industry embracing 3D technologies, the market is set to expand in tandem with the growing number of commercial aircraft deliveries.
- Prototyping Drives Growth: The use of 3D printers for product design and prototypes is a key driver, enabling lower manufacturing costs and enhanced precision. This trend is particularly prominent in the automotive industry, where lighter 3D-printed components contribute to improved vehicle performance.
Regional Highlights
- North America Leads the Way: North America has emerged as a frontrunner in the global 3D printing polymer material market, driven by widespread adoption and government initiatives promoting additive manufacturing. The region benefits from reduced production costs, customization opportunities, and enhanced efficiency.
- Asia Pacifics Rapid Growth: Asia Pacific is predicted to experience the fastest growth rate in the 3D printing polymer material market. The regions industrial advancements, burgeoning automotive manufacturing, and focus on consumer electronics production are major growth drivers. Governments in Asia Pacific have also enacted supportive policies and initiatives.
Competitive Landscape
Major players in the 3D printing polymer material market include 3D Systems (US), Royal DSM (Netherlands), Stratasys Ltd. (US), EOS GmbH Electro Optical Systems (Germany), Arkema S.A. (France), Materialise NV (Belgium), Sandvik AB (Sweden), General Electric (US), and Hoganas AB (Sweden).
Recent Developments
- Dussur and 3D Systems Partnership: In March 2022, the Saudi Arabian Industrial Investments Company (Dussur) and 3D Systems agreed to extend the use of additive manufacturing (AM) in the Kingdom of Saudi Arabia and neighboring regions, including the Middle East and North Africa.
- Evonik and Asiga Collaboration: In March 2022, Evonik, a specialty chemicals company, and Asiga, an Australian 3D printer manufacturer, announced a collaboration in photopolymer-based 3D printing. Their aim is to advance large-scale industrial 3D printing by expanding the capabilities of todays photo-curing technologies.
As the global 3D printing polymer material market continues its upward trajectory, these developments and trends are poised to shape the industrys future, offering promising opportunities for businesses across sectors.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/3d-printing-polymer-material-market
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This press release first seen on Brilad
COMTEX_442019639/2840/2023-10-17T12:01:50
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.