Automotive Industry to Dominate The 3d Printing Elastomers Market
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 the3D 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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BASF SE (Ludwigshafen), is the leading player in the global 3D printing elastomers market. In November 2020, Forward AM by BASF SE entered in a partnership with Photocentric Ltd. to launch a new Daylight Product Line (Ultracur3D EPD) for 3D printing applications such as prototyping, engineering, and serial production of automotive parts. These resins offer high stiffness and flexibility to the printed parts.
Another important player in the global 3D printing elastomers market is 3D Systems Inc. (South Carolina). In November 2019, the company announced the addition of VisiJet M2S-HT90 to its engineering-grade plastics product portfolio. VisiJet M2S-HT90 is strong, rigid, transparent material with high Heat Deflection Temperature (HDT) and meets USP Class VI standards for biocompatibility, which makes it suitable for automotive, consumer goods, and healthcare applications. The company also announced the addition of eight other materials for a range of applications, including Figure 4 PRO-BLK 10, Figure 4 HI TEMP 300-AMB, Figure 4 EGGSHELL-AMB 10, Figure 4 FLEX-BLK 20, Figure 4 MED-AMB 10, Figure 4 MED-WHT 10, Figure 4 TOUGH-BLK 20, and Figure 4 RUBBER-BLK 10. Thus, the addition of a wide range of products is expected to strengthen the 3D printing product portfolio of the company.
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