CHICAGO, April 14, 2021 /PRNewswire/ — According to the new market research report “3D Printing Elastomers Market by Form (Powder, Filament, Liquid), Material (TPE, SBR & SBS), Technology (FDM/FFF, SLA, SLS, DLP),End-use Industry (Automotive, Consumer Goods, Aerospace & Defense, Medical & Dental), Region – Global Forecast to 2026″, published by MarketsandMarkets™, the 3D Printing Elastomers Market is projected to grow from USD 162 million in 2021 and is projected to reach USD 583 million by 2026, registering a CAGR of 29.1% from 2021-2026.
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The growing adoption of home 3D printers in the North American and European regions is one of the major factors augmenting the demand for 3D printing elastomers.
By material, TPE is estimated to be the leading segment of 3D printing elastomers market from 2021 to 2026, in terms of value and volume.
Based on material, the 3D printing elastomers market has been segmented into thermoplastic elastomer (TPE), styrene-butadiene rubber (SBR) & styrene-butadiene-styrene (SBS), and others. The TPE segment is further sub-segmented into thermoplastic polyurethane (TPU) and thermoplastic vulcanizate (TPV). Under the TPE segment, TPU dominated the 3D printing elastomers market in 2020 and is estimated to maintain its dominance during the forecast period. The high demand for TPU materials is due to their superior properties when compared to TPV and other thermoplastic elastomers. They offer higher strength, flexibility, and durability than TPV.
By end-use industry, consumer goods is estimated to be the fastest-growing segment of 3D printing elastomers market
The use of 3D printing elastomers in consumer goods is primarily driven by the excellent physical properties, such as low weight, high flexibility, good printability, enormously robust, excellent temperature resistance, high impact strength, high surface quality, easy processing, and boundless design freedom, exhibited by elastomers. Consumer 3D printing (especially home 3D printers) is the main reason for the sudden rise in the demand for 3D printing materials in recent years. Furthermore, with the help of 3D printing, jewelry store owners can design new ornaments; a beverage manufacturer can produce plastic bottles on a huge scale; and mobile users can design new panels and mobile cases. Hence, consumer 3D printing allows customers to design their own products instead of depending on online purchases and brick-and-mortar stores. This, in turn, creates demand for elastomers in 3D printing.
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North America is the largest and the fastest-growing region in the 3D printing elastomers market
North America held the largest share in the 3D printing elastomers market, in terms of value, in 2020. This is mainly due to the high presence of leading 3D printing elastomers manufacturers, such as Carbon Inc. and 3D Printing Systems Inc., in the region. These companies are producing a wide range of elastomeric 3D printing materials and doing business expansions through partnerships and investments.
Carbon Inc (US)., Formlabs (US), BASF SE (Germany), 3D Systems Inc. (US), Stratasys Ltd.(Israel), Proto Labs Inc. (US), Henkel (Germany), Materialise NV (Belgium), EOS (Germany), Dow Chemical Company(US) Evonik Industries AG (Germany), Arkema SA (France), Sinterit (Germany), The Lubrizol Corporation (US), ExOne (US), Zortrax (Poland), HP Development Company, L.P. (US), LANXESS (Germany), Voxeljet AG (Germany), Impossible Objects (US), and EnvisionTEC (Germany) are some of the leading players in the 3D printing elastomers market. These players have adopted product launches, collaborations, partnerships, expansions, acquisitions, agreements, joint ventures, and investments as the main strategies for enhancing their business revenues and market shares.
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