3D Printing Elastomers Market Size Worth $967.3 Million By 2028 | CAGR: 29.0% : Polaris Market Research
NEW YORK, Nov. 22, 2021 /PRNewswire/ -- The global 3D printing elastomers market size is expected to reach USD 967.3 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 29.0% from 2021-2028. Increasing government initiatives for boosting the adoption of 3D printing coupled with a rise in investments in the research and developments programs to work as the primary growth driver for the market. Increasing integration of 3D printing technology in home printing and growing demand from the educational field are expected to create lucrative opportunities in the coming years. Major developing regions are also preferring these advanced printing technologies to cater to the increasing consumer from automotive, aerospace, medical, and other fields.
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Key Highlights of 3D Printing Elastomers Market
- On this basis of type, the thermoset elastomer segment dominated the 3D printing elastomers market and is expected to continue its dominance during the forecast period. Thermoset elastomer comes with microphase-separated morphology, high thermal stability, and tunable mechanical strength compared to triblock prepolymers.
- By form, the powder segment accounted for the majority of the market share. Increasing demand for powder form owing to the rise in preference for 3D printing in the automotive and aerospace & defense industries across the globe are supporting this segment's growth. These powders are used for developing complex structures and high-density products.
- In terms of end-use, the automotive emerged as the lucrative end-use segment and is predicted to grow at the fastest rate during the forecast period. The elastomers market in the automotive sector is primarily driven by its vital physical properties such as elasticity, superior optics, durability, thermal stability, and improved vehicle safety.
- Evonik, a leading german chemicals company has added two new photopolymers INFINAM RG 3101 L and INFINAM FL 6300 L for industrial 3D printing. As per the company, the new materials are suited for photopolymer 3D printing procedures such as DLP and SLA.
- Wematter, a prominent Swedish SLS 3D printer firm is making a new addition to their materials portfolio with Aurora TPU for Gravity SLS 3D printer. This newly developed material is durable 3D printing material that can find diverse applications in the automotive industry and medical technology, among others.
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Regional Developments
North America led the major growth for the 3D printing elastomers market, owing to the presence of prominent market players, rise in consumer base from automotive and medical industries, and supportive government initiatives. On the other hand, Asia Pacific is projected to witness substantial growth on account of the increasing adoption of additive manufacturing in Asian countries.
Competitive Outlook
Key market participants are working on their expansion strategies to increase their presence in different regional markets to add more customer base. They are also implementing different strategies such as partnerships and the launch of innovative products to strengthen their position in the market. The leading industry players include 3D Systems Inc.; Arkema SA; BASF SE; Carbon Inc.; Dow Chemical Company; EnvisionTEC; EOS; Evonik Industries AG; ExOne; Formlabs; Henkel; HP Development Company, L.P.; Impossible Objects; LANXESS; Materialise NV; Proto Labs Inc.; Sinterit; Stratasys Ltd.; The Lubrizol Corporation; Voxeljet AG; and Zortrax.
Target Audience
- Supply Side: 3D Printing Services provider
- Demand Side: Aerospace & Defense Sector, Automotive & Transportation Industry
- Regulatory Side: Biomedical Advanced Research and Development Authority
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Polaris Market Research has segmented the 3D printing elastomers market report on the basis of form, type, end-use, and region:
3D Printing Elastomers, Form Outlook (Revenue, USD Million, 2016 – 2028)
- Liquid
- Powder
- Filament
3D Printing Elastomers, Type Outlook (Revenue, USD Million, 2016 – 2028)
- Thermoplastic
- Thermoset
3D Printing Elastomers, End-Use Outlook (Revenue, USD Million, 2016 – 2028)
- Automotive & Transportation
- Aerospace & Defense
- Healthcare
- Industrial
- Consumer Goods
- Electrical & Electronics
- Others
3D Printing Elastomers, Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Netherlands
- Austria
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- Israel
- UAE
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers
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