The market size of 3D printing elastomers is estimated at USD 162 million in 2021 and is projected to reach USD 583 million by 2026, registering a CAGR of 29.1% from 2021-2026. The high growth can be attributed to an increase in demand from different end-use industries and the ease of printing at a lower cost. The automotive segment accounted for more than 33% share in the overall market, in terms of value, in 2020.
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.
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.
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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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COVID-19 Impact on the Global 3D printing elastomers Market
The pandemic is estimated to have impact on various factors of the value chain of 3D printing elastomers market, which is expected to reflect during the forecast period, especially in the year 2020. The various impact of COVID-19 are as follows:
IMPACT ON PRINTER MANUFACTURERS AND MATERIAL SUPPLIERS:
Printer manufacturers have already been contributing to the fight against the pandemic by providing their devices and resources free of charge across the world. Currently, the only and primary focus for printer manufacturers is to ensure that their products are able to print the required healthcare essentials round the clock. Many countries are yet to reach the peak in terms of the number of infected COVID-19 individuals and hence, it is absolutely necessary that healthcare essentials such as face masks, face shields, and nasal swabs are available in bulk, which is not the case currently. For example, in order to address the shortage of nasal swabs, which were required for the testing for COVID-19, Northwell Health teamed up with the University of South Florida, Tampa General Hospital, and Formlabs to 3D-print nasal swabs. In other areas, Stratasys has been working with respective government officials, partners, customers, and the medical community in connecting the right individuals with the right resources. The company has also shared its specifications for a face shield frame for individuals to print the same and contribute to the overall supply of these products.
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