The surging usage of 3D printing in various industries such as automotive, aviation, and aerospace & defense and the burgeoning requirement for mass customization are the major factors driving the expansion of the global 3D printing high-performance plastics market. Because of these factors, the market is predicted to witness significant growth during 2021–2030.
The COVID-19 pandemic has caused huge disruptions in logistics, supply chain, and manufacturing operations, which has, in turn, caused a massive scarcity in the availability of medical devices. As 3D printers can create on-demand personal protective equipment, medical devices, and other critical supplies and thus, compensate for the losses, their sales have skyrocketed during the pandemic. Hence, it can be safely said that the COVID-19 pandemic has positively impacted the progress of the 3D printing high-performance plastics market.
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Depending on application, the 3D printing high-performance plastics market is divided into tooling, functional parts manufacturing, and prototyping categories. Out of these, the prototyping category dominated the market in 2020. This is ascribed to the fact that 3D printers can make multiple iterations of various designs quickly, on the basis of product test results. This assists manufacturing organizations in saving time and reducing their expenditure on conducting prototyping tests.
The 3D printing high-performance plastics market is also classified, on the basis of type, into polyetheretherketone (PEEK) & polyetherketoneketone (PEKK), polyamide (PA), reinforced high-pressure processing (HPPs), polyetheramide (PEI), and others such as polysulfone [PSU], polyethersulfone [PES]), polyamide-imide [PAI], and polyphenylsulfone [PPSU]. Amongst these, the PA category dominated the market in 2020, because of the mechanical characteristics of this plastic such as rigidity, shock resistance, and stability. Additionally, the large-scale usage of PA in the manufacturing of injection molds and gears and other components in the aerospace, automotive, robotics, and medical prosthesis industries is also contributing to the growth of the category in the market.
Browse detailed report with COVID-19 impact analysis on 3D Printing High-Performance Plastics Market Research Report: By Type (Polyamide, Polyetherimide, Polyetheretherketone & Polyetherketoneketone, Reinforced High-Performance Plastic), Form (Filament & Pellet, Powder), Application (Prototyping, Tooling, Functional Part Manufacturing) – Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/3d-printing-high-performance-plastics-market
Globally, North America dominated the 3D printing high-performance plastics market between 2015 and 2020, and it is predicted to retain its market dominance during the forecast period. This is credited to the surging research and development (R&D) investments being made because of the growing focus on rapid technological advancements in the region.
The players operating in the 3D printing high-performance plastics market are focusing on getting into partnerships in order to gain an edge over their rivals. For example, Solvay S.A. entered into a partnership with PrinterPrezz Inc., which is a medical 3D printing bureau, in December 2020. Under this partnership, polymer will be combined with the metal 3D printing and nanotechnology expertise, which is called the ‘Medifacturing approach. Furthermore, PrinterPrezz and Solvay are collaborating with each other for developing advanced selective laser sintering (SLS) technology for the fabrication of various medical devices and implants.
Some of the major players operating in the 3D printing high-performance plastics market are Arkema S.A., Oxford Performance Materials, Royal DSM N.V., EOS GmbH Electro Optical Systems, Stratasys Ltd., Solvay S.A., Evonik Industries AG, Victrex plc, and 3D Systems Corporation.
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3D Printing Materials Market – Geographically, the 3D printing materials market would exhibit lucrative growth in Europe and North America in the upcoming years. The rapid expansion of the market in these regions would be caused due to the existence of several well-established 3D printing materials producing companies and the rising adoption of the 3D printing method in the medical and dental industry.
3D Printing Filaments Market – Globally, the 3D printing filament market will exhibit the fastest growth in the APAC region in the upcoming years. This is attributed to the presence of a thriving manufacturing sector in the APAC countries such as China and the increasing implementation of favorable government policies for regarding the adoption of modern manufacturing technologies in the region.