3D Printing Plastics Market Estimated to Reach $1,907 Million by 2027 Globally, at a CAGR of 21.5%, says MarketsandMarkets™
Chicago, Aug. 02, 2023 (GLOBE NEWSWIRE) — The global 3D Printing Plastics Market size is expected to grow from USD 721 million in 2022 to USD 1,907 million by 2027, projecting a CAGR of 21.5% during the forecast period between 2022 and 2027, as per the recent study by MarketsandMarkets™. The 3D printing plastics market is majorly driven by the increasing interests from end-use industries, such as automotive, electronics & consumer goods, and others that promote mass production. Moreover, the market entry of major chemical giants with their specialized grades promises material availability and decreased prices in the near future. Plastics have been used as substitutes for metals and ceramics in various commercial applications. With enhanced properties from revised material compositions, 3D printing plastics are also expected to experience increasing application base. A major restraint for 3D printing plastics is the growing environmental concerns regarding the disposal of 3D printed plastics products. The high material price for commercial application is expected to remain a major challenge for the market in the forecast period.
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301 – Market Data Tables
65 – Figures
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List of Key Players in 3D Printing Plastics Market:
- 3D systems Corporation (US)
- Stratasys, Inc. (US)
- Covestro AG (Germany)
- Arkema S.A. (France)
- Evonik Industries (Germany)
- BASF SE (Germany)
- Solvay S.A. (Belgium)
- Henkel (Germany)
- EOS GmbH Electro Optical Systems (Germany)
- SABIC (Saudi Arabia)
Drivers, Restraints, Opportunities and Challenges in 3D Printing Plastics Market:
- Drivers: Increased supply of 3D printing plastics due to forward integration of major polymer companies
- Restraints: Environmental concerns regarding the disposal of 3D-printed plastic products
- Opportunity: Increasing demand for bio-based grades of 3D printing plastics market
- Challenge: High manufacturing costs of commercial grades of 3D printing plastics
Key Findings of the Study:
- Polyamide is the fastest-growing segment in 3D printing plastics market, in terms of value and volume
- Powder form to be the fastest-growing segment in the global 3D printing plastics market in terms of value and volume
- Manufacturing application is expected to grow with the highest CAGR, both in terms of value and volume during the forecast period
- Automotive to be the fastest-growing end-use industry in the global 3D printing plastics market in terms of value and volume
- Europe is the second-largest region in the 3D printing plastics market during the forecast period
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Based on type, the photopolymers segment of the 3D printing plastics market is projected to be the largest segment during the forecast period, in terms of value and volume. There is a high demand for these materials in the aerospace, automotive, & healthcare industry due to biocompatibility, high strength, chemical resistance, lightweight, and advanced geometries. These plastics find huge demand in medical implants, under-the-hood automotive applications, aircraft engine compartments, and flowmeter and valves. These plastics can also be reinforced with glass and carbon for increased performance.
Based on form, the filament segment of the 3D printing plastics market is projected to be the largest segment during the forecast period, in terms of value and volume. The growth of the filament segment can be attributed to the usefulness in several end-use industries ranging from automotive to packaging, aerospace, dental, and electrical & electronics.
Based on application, the prototyping segment of the 3D printing plastics market is projected to be the largest, in terms of value or volume, during the forecast period. Prototyping is a key application in the 3D printing plastics market. Prototypes make use of software to develop and refine the product quality, parameter, size, and shapes at each step. Prototyping allows the production of high-quality products at low cost and reduced time. The 3D printing of plastics in functional part manufacturing applications is expected to register the fastest growth during the forecast period due to the increasing adoption of 3D printing in the manufacturing sector.
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Based on end-use industry, the aerospace & defense segment of the 3D printing plastics market is projected to be the largest between 2022 and 2027, in terms of value or volume. The high growth of the aerospace industry across the globe due to the increased number of air passengers is expected to contribute to the growing demand for new carrier planes. This increased demand for new carrier planes is expected to lead to the increased use of 3D printing plastics for manufacturing different components of aircraft, thereby contributing to the growth of the 3D printing plastics market for aerospace & defense.
The 3D printing plastics market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The region is projected to become a major supplier base for 3D printing high-performance plastics in the coming years. The 3D printing industry in Asia Pacific is largely concentrated in the Southeast Asian region, which is one of the leading markets for 3D printing in terms of industrial application. China is the fastest-growing market for 3D printing plastics in the APAC region. The cost of raw material plastics is less in APAC due to their easy availability, which promises a high potential for market growth in the coming years. This easy availability of raw material will also help the region to emerge as a global supplier of 3D printing plastics.
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