CHICAGO, Feb. 10, 2021
CHICAGO, Feb. 10, 2021 /PRNewswire/ -- According to the new market research report "3D Printing High Performance Plastic Market by Type (PA, PEI, PEEK & PEKK, Reinforced), Form (Filament and Pellet, Powder), Technology (FDM, SLS), Application, End-Use Industry, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global 3D Printing High Performance Plastic Market is expected to grow from USD 72 million in 2020 to USD 202 million by 2025, at a CAGR of 22.9% during the forecast period. Increasing demand from high end-use industries, growing novel application in tooling and proptotying, and government supportive activities to promote the usage of 3D printing materials is driving the growth of the market.
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Polyamide type comprise a major share in terms of value and volume.
Polyamide 3D printing high performance plastic have huge demand from wide end-use industries. Polyamide filaments are useful in several end-use industries ranging from automotive, medical, aerospace, dental, and electrical & electronics. It is available at affordable cost and can be given finishing in multiple ways, including dyed, smoothed spray-printed, and velvet finish making it highly suitable for multiple applications.
However, due to pandemic COVID-19, the demand for 3D printing high performance plastic witnessed sharp decline. Factory shutdown, reduced production capacities, and reduced demand from end-use industries has negatively impacted on the growth of the market. This demand would surge with stable economic conditions, uninterrupted supply chain, and growing demand for 3D printing high performance plastic along with innovation of application specific 3D printing material.
FDM technology account for the largest market share in the global 3D printing high performance plastic market in terms of value and volume
FDM technology is well developed for 3D printing a wide variety of high-performance plastics such as PEEK & PEKK, PPSU, and PEI. FDM is the most widely used technology across the world due to its inexpensive nature and excellent compatibility with high performance plastic materials. The technology is highly suitable with high performance plastics in the filament and pellet form and is trusted to produce strong and durable parts with complex geometries.
Functional part manufacturing application to grow at the fastest CAGR in the global 3D printing high performance plastic market in terms of value and volume
3D printing high performance plastics used in the Functional part manufacturing application is witnessing high growth across the globe. The superior properties of these plastics such as high-temperature performance, mechanical strength, and excellent chemical resistance are the key factors driving their usage. Various end-use industries, including transportation, healthcare, and aerospace & defense, are early adopters of 3D printing high performance plastics.
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Medical & healthcare industry dominates the market in the global 3D printing high performance plastic market in terms of value and volume
The medical & healthcare industry led the 3D printing high performance plastic market. The industry is continuously looking to adopt breakthrough technologies and materials to cater to the medical requirements of humans. High compatibility of 3D printing high performance plastic such as polyamide has increased its application in making of medical devices, surgical equipment, prosthetics & implants, and tissue engineering products supporting the growth of the market.
North America to continue the similar growing trend in the 3D printing high performance plastic market during the forecast period
North America held the largest share in 3D printing high performance plastic market and is projected to continue the similar trend over the projected period. Manufacturers of 3D printing materials in North America are putting efforts by undertaking new product launch, collaboration, and other strategies. For instance, in September 2018, Stratasys Ltd. signed a multi-year technical partnership with Team Penske (US). Team Penske will be using advanced materials, such as Carbon Fiber-filled Nylon 12, in additive manufacturing for advanced car testing, production parts, and prototypes. The partnership is aimed at innovating new materials in 3D printing to increase output and improve vehicle performance.
Arkema S.A. (France), Royal DSM N.V. (the Netherlands), Stratasys, Ltd. (US), Evonik Industries AG (Germany), 3D Systems Corporation (US), EOS GmbH Electro Optical Systems (Germany), Victrex plc. (UK), Solvay (Belgium), Oxford Performance Materials (US) , and SABIC (Saudi Arabia) are some of the key players in the 3D printing high performance plastic market.. These players have taken different organic and inorganic developmental strategies over the past five years.
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