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 $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.
The type segment of the 3D printing high-performance plastics market is classified into reinforced high-performance plastic (HPP), polyetheretherketone (PEEK) & polyetherketoneketone (PEKK), polyamide (PA), polyetherimide (PEI), and others, such as polysulfone (PSU), polyamide-imide (PAI), polyphenylsulfone (PPSU), and polyethersulfone (PES). Among these, the PA category generated the highest revenue in 2020, due to the excellent shock resistance, high stability, and exceptional rigidity offered by PA plastics. Moreover, these high-performance plastics are being increasingly used in the robotics, automotive, medical prostheses, and aerospace sectors.
Furthermore, the application segment of the 3D printing high-performance plastics market is categorized into tooling, prototyping, and functional part manufacturing. Under this segment, the prototyping category accounted for the largest market share in 2020, and it is expected to retain its position in the forecast years as well. This is because of the ability of 3D printers to make multiple iterations of designs rapidly, through product testing. The application of 3D printing technology, therefore, saves money and time in running the tests with a functional prototype.
Thus, the increasing demand for aircraft and automobiles will supplement the market growth in the foreseeable future.
