Factors such as the escalating demand for mass customization of products and increasing applications of 3D printing technology in the automotive, defense, aerospace, and aviation industries will facilitate the 3D printing high-performance plastics market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached around $73.5 million in 2020. In recent years, increasing shift of manufacturers from traditional production methods to 3D printing, due to the zero-material wastage, more customizability, and cost-effectiveness offered by this technology, has become a major market trend.
One of the key catalysts for the market growth is the widening application base of 3D printing high-performance plastics in the aerospace industry. The rising production of aircraft components, primarily on account of the mushrooming demand for aircraft to ferry more cargo and passengers. 3D printing technology is an effective method of producing aircraft parts, as it uses filaments, which help in reducing the weight of the manufactured products. Furthermore, the usage of filaments also assists in enhancing strength and designing and creating complex structures for aircraft components.
Currently, players operating in the 3D printing high-performance plastics market are engaging in partnerships to gain a significant position. For instance, in March 2021, Stratasys Ltd. partnered with Xometry to offer a wide range of high-performance nylon materials to end users. With this partnership, the customer base of Xometry, which includes Fortune 100 companies and startups, got access to the selective laser sintering (SLS) 3D printing technology of Stratasys Ltd. Other companies focusing on improving their presence through partnerships include Saudi Basic Industries Corporation (SABIC), EOS GmbH Electro Optical Systems, Solvay, and Victrex plc.
Geographically, North America held the largest share in the 3D printing high-performance plastics market in 2020, and it is expected to maintain its dominance throughout the forecast period as well. This can be ascribed to the increasing investments being made in the research and development (R&D) of 3D printing materials, on account of the escalating focus on technological advancements. Moreover, the expanding manufacturing base of the robotics, aerospace, medical prostheses, and automobile industries in the region will also catalyze the market growth in the forthcoming years.
Thus, the increasing demand for aircraft and automobiles will supplement the market growth in the foreseeable future.
