The global 3D printing polymer materials market size was valued at USD 425.1 million in 2020 and is expected to reach USD 641.7 million by 2027, registering a 7.12% CAGR during the forecast period, 2021-2027. The growing adoption of 3D printing technology by healthcare, automotive, and other industries is majorly driving the growth of the 3D printing polymer materials market. The 3D printing polymer materials used in additive manufacturing have been particularly witnessing solid traction as industries continue to embrace the technology for mass production of components.
Rising demand for 3D printing polymer materials from aerospace & defense and automotive sectors for the production of complex parts is projected to propel the growth of the overall global market. Moreover, the rising demand and consumption from the education sector are further estimated to drive the market size over the forecast period. For instance, engineering students use technology for making prototypes of their creations and projects. In contrast, biology students facilitate comprehension of cross-sections of organs with the help of 3D printing technology mainly based on polymer materials.
Growing demand from the healthcare industry for manufacturing of a broad range of implantable medical devices, surgical equipment, and prosthetics fosters, among others.
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High lead time has been a longstanding challenge restricting most manufacturers from completely switching to additive manufacturing from their conventional manufacturing process, thereby hampering the adoption of 3D printing in major end-use industries. However, the high material cost of 3D printing materials remains a major restraint for the widespread adoption of 3D printing polymer materials worldwide in the coming years.
The COVID-19 crisis has significantly affected the 3D printing polymer materials market, resulting in a measurable decrease in overall demand. The economic slowdown, disruptions in disposable income patterns, and lasting unemployment periods have resulted in a major downtrend in demand. The massive disruption in the global supply chain, in addition to nationwide lockdowns, further led to delays or non-arrival of raw materials, disrupted financial flows, and growing absenteeism among production line workers, which compelled aircraft and automobile manufacturers to operate at zero or partial capacities. This continues to be a challenge as the pandemic situation has not yet subsided all over the globe. However, the viral breakdown also brought in a lucrative opportunity with it. Face masks that have been observing rocketing sales since the pandemic has been declared have given rise to a new, 100% profitable business sector based on additive manufacturing, thus highlighting a massive opportunity for select 3D printing polymer materials globally market.
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The global 3D printing polymer materials market has been segmented into types, applications, and regions.
The 3D printing polymer materials market has been segmented into the Asia Pacific, Europe, North America, South America, the Middle East, and Africa. In 2020, North America dominated the market for 3D printing polymer materials. It was expected to maintain its dominance over the forecast period because of the high demand for metal-based materials from the aerospace & defense, and automotive industries. Moreover, escalating adoption of 3D printed medical and dental implants is further supporting the market’s growth.
The market has been witnessing new investments from the leading 3D printing manufacturers to meet the demand for complex product manufacturing.
The key players in the 3D printing polymer materials market are focusing on conventional growth strategies such as expansion, acquisitions, joint ventures, launching new product lines, and adopting advanced printing technology to enhance their market share. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country.
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