The 3D PA (polyamide) market consisting of PA11 and PA12 is forecasted based on two scenarios as its growth is primarily based on the adoption of 3D printing technology by end-use industries. Scenario one represents comparatively normal growth whereas scenario two projects exponential growth. Scenario one predicts a comparatively normal growth of USD 48.6 Million by 2020, at a CAGR of 26.59%, whereas scenario two predicts market to reach USD 85.1 Million by 2020, at a CAGR of 41.2%.
This growth is majorly driven by the increasing demand from healthcare as well as aerospace & defense sectors. The growth in automotive market will define the high growth in scenario two where 3D printing technology is expected to be adopted for mass customization in automotive sector. Asia-Pacific is a growing market for PA11 and PA12 owing to the presence of manufacturing base of a large number of companies in this region. North America and Europe are established markets and are expected to dominate with major global players operational in these regions.
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The growth of PA11 and PA12 market for 3D printing in North America & Europe is majorly driven by the increasing demand from healthcare and aerospace & defense. The U.S. is a major market in North America, followed by Canada and Mexico. Germany, France, and Italy are the key countries in the European 3D PA (polyamide) market. Asia-Pacific is estimated to be a potential market for 3D PA (polyamide) in future. This growth can be attributed to the presence of emerging economies such as China, India, Taiwan, and others as well as the growth in end user industries such as automotive, healthcare, and others in this region.
The increasing usage in healthcare and aerospace & defense sector for weight reduction is one of the key factors driving the growth of 3D PA (polyamide) market. Many grades of PA11 and PA12 can be used for medical applications. Some grades have carbon fiber additions to increase the material strength. PA12 has a greater availability due to established distribution system as compared to PA11 which is derived from castor seeds. However, companies such as Arkema SA, Evonik AG, and others, dealing primarily in specialty chemicals, have started operations in emerging markets to increase product supply in these regions. Other key companies supplying 3D PA (polyamide) materials includes EOS GmbH, 3D Systems, Stratasys, and others which have developed their own grades for 3D printing technology.
Estimating the future demand is a prime challenge for PA11 and PA12 suppliers owing to the economic slowdown that took place in the last decade. Many economies in the European region have still not recovered completely, which has affected the demand for PA11 and PA12 from major end user industries in this region. In Asia-Pacific, China witnessed lowest growth rates in the last decade. Manufacturing sector holds a key share in the GDP of China, and the slowdown in this sector will affect the PA11 and PA12 consumption as it will affect technology adoption. However, from a strategic point of view, China still holds the key to the growth of 3D PA (polyamide) market in Asia-Pacific region.
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