3D Printing Elastomers Market worth $583 million by 2026

The global 3D printing materials market size is estimated to grow from USD 1.6 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 23.5% between 2020 and 2025. 3D printing has been regarded as one of the major disruptive technologies of this century, transitioning from prototyping to a potential production method across various industries. 3D printing, also referred to as additive manufacturing, is expected to have a positive impact on various end-use industries such as aerospace & defense, healthcare, automotive, and consumer goods, to name a few. However, amidst the global COVID-19 pandemic, the demand for 3D printing materials from the industries mentioned above is expected to show relatively slower growth in 2020.

The major 3D printing material manufacturers are 3D Systems (US), Stratasys (US), Arkema SA (France), Materialise NV (Belgium), Evonik Industries (Germany), and General Electric (US). These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. New product launch and joint venture & partnership were the dominant strategies adopted by the major players, between 2014 and 2019, which helped them to offer innovative products and broaden their customer base.

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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.

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.

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