3D Printing Plastics Market Forecast 2018-2028 : BASF, Arkema, Evonik, Polymaker, and Arkema
The global 3D printing plastics market is likely to witness a surge in its growth during the forecast period 2018-2028, due to the rise in usage of 3D printing in various sectors such as Construction, defense, healthcare, and food and beverage industry. The plastics are more used for manufacturing 3D printers because of its properties such as it can be given any desired shape for a product and it is rigid as well. Recently, NASA had used 3D printers in space with plastics as a main material for objects that are being printed in the space. The major reason behind using plastics in space is that after the use, plastics can be melted, recycled, and can be used again, these are the factors that are fueling the growth of the market.
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Global 3D Printing Plastics Market: Trends and Opportunities
The market is driven by various government initiatives to promote the use of 3D printing plastics. Another factor which is helping the market to grow is rise in demand from end user industries such as aerospace and automotive industries. The adoption of 3D printing in recent years have fueled the market to grow exponentially. Rapid development in healthcare sector has helped the market to grow. Another sector which is helping the market to grow a steady rate is the rise in automobile industry all across the world. Plastics are commonly used for 3D printing materials as this is cheap in comparison to other materials as well as reliable. These factors have resulted in a growing popularity of 3D printing plastics.
It has been noticed that photopolymers is another kind of material which is used for 3D printing. Photopolymers are basically, thermoset plastics which can be hardened or cured with exposure to certain type of light. Photopolymers are expected to take advantage of this properties, as it used for 3D printing to develop physical properties like viscosity or stiffness. Photopolymers are used by various manufacturers for 3D printing as it is known to make products with better properties. However, this type of plastics is known to be expensive. Nonetheless, increasing variety of photopolymers, photopolymer based technologies like DLP, PolyJet, and SLA is promoting the growth of the market.
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Global 3D Printing Plastics Market: Market Potential
Recently, scientists found a way to replace vital parts of soldiers on the combat field with the help of 3D printing technology. It is known that soldiers have to wait for days to get their vital parts replaced during the war. Scientist have assured that using easily found on base such as water bottles, water jugs which are generally made up of plastics can be used for 3D printing. Scientists have called this a game changing invention as soldiers now don’t need to depend upon outside supply chains.
Global 3D Printing Plastics Market: Regional Analysis
Geographically, North America holds the major share in terms of revenue. Asia Pacific is likely to become the fastest growing market during the forecast, owing to various government initiative in China for promoting the 3D printing plastic market.
Global 3D Printing Plastics Market: Competitive Landscape
Players in the market in order to have a better hold on the market have been focusing on the product launches and development. Major players in the market in order to reach farthest corner are going in a strategic partnership, merger and acquisitions or agreement and collaboration with regional players. Vendors in the market are pouring hefty fund behind the research and development team in order to produce more efficient product. Major players in the market offer wide product portfolio for specific requirement and industrial applications. Some of the major players in the market are Envision TEC, HP, Voxelijet, Protolabs, Ricoh, BASF, Arkema, Evonik, Polymaker, and Arkema.
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