3D printing polymers market share is being significantly propelled by the rising product adoption across myriad industries including healthcare, locomotive, automotive, and aviation. 3D printing polymers offer benefits like economical cost, less complexity, and lesser time, thus emerging as an ideal product to be used in the aforementioned industries for vivid applications.
3D printing polymers are generally used to create 3D objects. The procedure has gained immense popularity worldwide owing to its rapid manufacturing of components for diverse end-purposes.
The market space is being further impelled by favorable government initiatives and a strategic rise in investments for R&D activities in various countries. Besides, ongoing technological advancements and product developments have enhanced the product deployments across various businesses, driving the market growth over 2021-2027.
Based on the product type, polyethylene segment is gaining notable momentum across the overall 3D printing polymers market. Both HDPE and LDPE filaments have been considered to be an ideal fit for 3D printing across different business verticals. High density polyethylene filaments have been gaining significant ground for use in 3D printing owing to their superior sustainable characteristics, like easy recyclability. Besides, the product is also deemed compatible with the FDM technology when used as a 3D printing filament.
3D printing polymers market is slated to gain significant profits from the healthcare application sector owing to the growing trend of 3D printing in the industry. In the healthcare sector, the factors influencing the growth of 3D printing include robust advancements in technology, expanding geriatric population worldwide, increasing investments in the R&D sector, and improvement in the healthcare infrastructure.
3D printing in the healthcare sector is used in prosthetics, customized implants, medical devices, and medical models, that revolutionize the healthcare system and may even disrupt many areas of traditional medicine. Polymers in 3D printing offer biocompatibility and are considered to be a sustainable choice for the printing material. Some of the best suited polymers for 3D printing in medical applications are polyetheretherketone (PEEK), RESOMER, Polyetherketoneketone, and Polyphenylsulfone (PPSU).
The segmental growth is further driven by the rising investments and spending in the healthcare industry by various prominent economies around the globe.
Considering the regional aspects, Asia Pacific is projected to account for considerable gains in the overall 3D printing polymers industry. The growth can be ascribed to the thriving automotive and healthcare industries in developing economies. Besides, the growing investment in healthcare sector is as well expected to influence the growth curve of APAC 3D printing polymers market through 2027.
Key players operating in the global 3D printing polymers market space are Solvay, ELIX Polymers, BASF SE, Arkema Group, Evonik, and others. These vendors have been taking up strategic initiatives such as acquisitions and mergers, product launches, partnerships and more, to gain a competitive edge in the global market.
The novel coronavirus outbreak has severely affected major industries such as automotive, electrical, and aviation. Moreover, movement restrictions have as well reduced the use of automobiles. This has apparently resulted in the declining demand for 3D printing polymers. However, the dynamic growth in the healthcare sector during 2020 is expected to offer lucrative opportunities to the 3D printing polymers industry even amidst the ongoing COVID-19 pandemic scare.