According to a new report published by Grand View Research, favorable growth in the automotive industry is likely to contribute significantly to the demand for high temperature 3D printing plastics in the forthcoming years.
The global high temperature 3D printing plastics market size was estimated at USD 354.46 million in 2018 and is expected to register a CAGR of 13.0% over the forecast period. Rising demand from the automotive industry significantly drives market growth. Factors such as ease in customized product development and favorable government policies and investments, especially in developing economies such as China, India, South East Asian countries are anticipated to augment the market growth. Recent developments in the additive manufacturing industry have created huge avenues for the growth of the automotive industry and facilitated the development of innovative, stronger, lighter, and safer components & parts with lesser lead times. The OEMs mainly use high-temperature 3D printing plastics for rapid prototyping. Thus, favorable growth in the automotive industry is likely to contribute significantly to the demand for high temperature 3D printing plastics in the forthcoming years.
The outbreak of the COVID-19 pandemic has significantly impacted the overall global economy and, subsequently, the 3D printing industry. Due to the rapid spread of the virus, the governments issued an order for the complete lockdown of several key cities. The complete lockdown affected the production of the manufacturers. This is attributed to the labor shortage and the complete disruption of logistics and supply chain in the nation. The halt in production impeded the overall market growth in the first and second quarters of 2020.
High temperature 3D printing plastics are primarily used in prototyping and concept modeling. The demand for aircraft and defense equipment is expected to witness significant growth across the globe. Factors, such as resurgence of global security threats and growth in the defense budget of key nations are expected to drive growth of the aerospace industry. In addition, relatively stable growth in the Gross Domestic Product (GDP) in developing economies, such as China and India is contributing to an increase in passenger travel, which, in turn, is expected to trigger the demand for commercial aircraft across the globe, thereby creating significant demand for high-temperature 3D printing plastics.
Polyetherketoneketone (PEKK) type segment is anticipated to grow at the fastest CAGR over the forecast period. PEKK offers higher thermal resistance compared to most of its counterparts, a glass transition and a melting temperature of 180°C and 300°C, respectively thus, paving its way for use in high temperature 3D printing solutions for various applications such as healthcare and automotive among others. In addition, PEKK provides high resistance to fluids, inherent flame retardancy, compressive strength, wear and radiation resistance, and creep resistance, which is anticipated to fuel its growth over the forecast period.
Healthcare end use segment is projected to witness significant growth in the next seven year. Key applications of high temperature 3D printing plastics in healthcare segment include prototyping, custom orthodontic implants, prosthetics, medical instruments, training models, and others. The products also find application in anatomical models in the healthcare industry, electronics encasements, for complex components in single-use and reusable medical devices, teaching or diagnostic aids, conceptual modeling of medical devices, casts and splints, and patient-specific cutting guides for surgery.
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High Temperature 3D Printing Plastics Market Report Highlights
• PEKK type segment is potentially fueling the market growth owing to rising demand for PEKK in various end-use industries
• Europe is anticipated to witness the fastest CAGR over the forecast period
• Asia Pacific held the largest market share in 2018 and is expected to continue its dominance during the forecast period. China is the fastest growing country in the region, on account of the growing construction industry.
• Key market players engage in various strategic initiatives to boost their market share. For instance, in November 2018, 3D4Makers introduced Facilan high temperature, a 3D printing filament in collaboration with ElogioAM B.V. It is a polyester with high temperature resistance that becomes flexible above 89°C. This material is designed to be used with conventional FDM 3D printers. This filament enables end users to produce durable parts using Fused Deposition Modeling (FDM) additive manufacturing process.
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High Temperature 3D Printing Plastics Market Segmentation
Grand View Research has segmented the global high temperature 3D printing plastics market on the basis of type, end use, and region:
High Temperature 3D Printing Plastics Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
High Temperature 3D Printing Plastics End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
• Aerospace & Defense
• Electrical & Electronics
• Consumer Goods
High Temperature 3D Printing Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Central and South America
• Middle East & Africa
• Saudi Arabia
• South Africa
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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