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3D Printing Elastomers Market: By Type (Powder, Filament, Liquid And Others); By Application (Automotive, Aerospace & Defense, Healthcare, Consumer Goods, Construction And Others); And Region - Global Analysis Of Market Size, Share & Trends For 2019-2021 And Forecasts To 2030
3D Printing Elastomers Market to surpass USD 6.9 Billion by 2030 from USD 2.3 Billion in 2020 at a CAGR of 6.1% in the coming years, i.e., 2021-30.
Elastomers are polymers with both viscosity and elasticity, which are referred to as viscoelasticity. Elastomers are made up of molecules that are kept together by weak intermolecular interactions and have a low young modulus and a high yield strength. They have the rare ability to revert to their former shape and size after being stretched to extremes. Natural rubber, polyurethanes, polybutadiene, silicone, and neoprene are examples of elastomers. Saturated elastomers and unsaturated elastomers are the two basic types of elastomers. 3D printing elastomers employ a unique form of sprayable liquid polymer with a hardness that can be adjusted on the fly and in the same liquid, making it an excellent choice for prototyping components that will be over-molded at some stage. 3D printing of elastomers saves time. It allows you to properly test these modules and check right away if the shape is produced correctly or not. The models have fine details and a silky smooth finish. This increases the printing quality. For 3D printing, it employs additive manufacturing techniques.
In the car business, 3D printing is revolutionizing the manufacturing process. The technology has aided the construction industry in producing more complicated and lighter structures at lower costs. Elastomeric 3D printing materials are also employed in the production of consumer goods like as phone cases, earbuds, midsoles, saddles, and helmet liners. Elastomeric additives are used in the medical industry for hearing aids, surgical instrument handles, and prototypes because of their flexibility and high tensile strength.
Global 3D Printing Elastomers market is segmented by type into Powder, filament, Liquid, and Others. Powder segment held the largest market share in the year 2020. The rapid popularity of 3D printing in the aerospace and defense, as well as the automotive industries, has resulted in a high demand for powder. Furthermore, the filament form of 3D printing elastomers is expected to be the second-largest section of the market. The surge in demand for the filament form is due to increased consumption of plastic materials across numerous end-use industries, such as healthcare and automotive.
Global 3D Printing Elastomers market is divided by application into Automotive, Aerospace & Defense, Healthcare, Consumer Goods, Construction and Others. Over the forecast period, the aerospace segment is projected to expand at the fastest pace. The rapid popularity of 3D printing in the aerospace and defense, as well as the automotive industries, has resulted in a high demand for powder. In the healthcare industry, 3D printing technology has been used to create tissues, prosthetics, and medical implants, making difficult designs easier for product designers and engineers to produce cheaper, faster, and more effective complex designs. Furthermore, increased expenditures in 3D printing and the adoption of 3D printing technology in the home are allowing the industry to expand.
Rising demand in various industries and efficient designs
The 3D Printing Elastomers Market is growing due to rising demand from the automotive, consumer, and medical industries, as well as increased usage of home 3D printers. In the healthcare industry, 3D printing technology has been used to create tissues, prosthetics, and medical implants, making difficult designs easier for product designers and engineers to produce cheaper, faster, and more effective complex designs. Furthermore, increased expenditures in 3D printing and the adoption of 3D printing technology in the home are allowing the industry to expand.
Low operating cost and growing consumer base
Due to advantages such as high-speed production, lower operating costs, and others, there is a surge in demand for 3D printing items. The expansion of developing countries' market participation in the aerospace sector is likely to provide profitable prospects for industry participants. For survival in the industry, producers are working on lowering raw material costs, which is predicted to fuel market demand. The usage of 3D printing technology is increasing in developing nations, owing to a rapidly growing consumer base in industries such as aerospace, automotive, medical, and others. The automobile sector is experiencing a spike in demand for 3D-printed elastomers. This is due to the growing need for high-performance and lightweight materials in car manufacturing. Elastomers, for example, are lightweight polymers that reduce the vehicle's weight, increasing its fuel efficiency.
Higher material costs associated with the market
3D printing is a more efficient method of producing products, but it is costly due to high material costs, which is a key market constraint. These high prices are due to the higher purity and composition criteria required for 3D printing. Material manufacturers face a significant challenge in developing and supplying low-cost materials due to rising demand in a variety of applications.
Global 3D Printing Elastomers market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America segment held the largest market share in the year 2020. This is owing to the region's significant concentration of prominent 3D printing elastomer producers like Carbon Inc. and 3D Printing Systems Inc. These companies make a variety of elastomeric 3D printing materials and are expanding their businesses through partnerships and investments.
| Report Attribute | Details |
| Market size value in 2020 | USD 2.3 Billion |
| Revenue forecast in 2030 | USD 6.9 Billion |
| Growth Rate | CAGR of 24.8% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, end-user, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | 3D Systems Corporation, EOS GmbH, Electro-Optical Systems, Concept-LaserGmbH, ExOne Co., Arcam AB, SLM Solutions Group AG, Hewlett Packard Inc., Materialise NV, and Other Prominent Players. |
The 3d Printing Elastomers Market size was estimated at USD 2.3 billion in 2020 and is expected to reach 6.9 billion by 2030.
Key players: 3D Systems Corporation, EOS GmbH, Electro-Optical Systems, Concept-LaserGmbH, ExOne Co., Arcam AB, SLM Solutions Group AG, Hewlett Packard Inc., Materialise NV, and Other Prominent Players.
Powder segment and Aerospace segment are anticipated to hold the largest 3d Printing Elastomers Market.
Drivers: Rising demand in various industries and efficient designs and Low operating cost and growing consumer base
Elastomers are polymers with both viscosity and elasticity, which are referred to as viscoelasticity. Elastomers are made up of molecules that are kept together by weak intermolecular interactions and have a low young modulus and a high yield strength. They have the rare ability to revert to their former shape and size after being stretched to extremes.
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