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 PS 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.
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.
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 (RD) 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.
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