Press release
Global 3D Printing Plastics Market to Flourish with an Impressive CAGR of 28.1% During 2022-2028
The 3D Printing Plastics Market size was valued at USD 696.23 million in 2022 and is estimated to reach close to USD 1965.2 million by 2028, expanding at a whopping CAGR of around 28.1% during the forecast period.
The report also highlights the growing demand for bio-based and eco-friendly 3D printing plastics, owing to the rising environmental concerns and the need for sustainable manufacturing practices. The use of bio-based materials not only reduces the carbon footprint but also enhances the product's durability and strength.
How has 3D printing developed over the years?
Several new 3D printers came to market, including the ModelMaker from Solidscape, which deposited wax materials using an inkjet print head, which was more common than traditional printing. New processes, such as micro casting and sprayed materials, allowed 3D printing to be used for metals, not just plastics.
The key growth drivers for the 3D printing plastics market include:
· Increasing demand for customised and complex products: 3D printing technology enables the production of highly customised and complex products, which is not possible with traditional manufacturing methods. This is particularly important in industries such as aerospace, automotive, and healthcare, where each product needs to be tailored to specific requirements.
· Cost-efficient manufacturing process: 3D printing technology offers several benefits, such as reduced material wastage, faster time-to-market, and lower production costs. This is particularly important in industries such as automotive and consumer goods, where there is a high demand for cost-efficient manufacturing processes.
· Rising demand for bio-based and eco-friendly 3D printing plastics: The increasing environmental concerns and the need for sustainable manufacturing practices are driving the shift towards bio-based and eco-friendly 3D printing plastics. This trend is expected to continue in the coming years, driving the growth of the market.
· Technological advancements: 3D printing technology is constantly evolving, with new materials and printing techniques being developed. The advancements in technology are expected to enhance the quality of products and increase the efficiency of the manufacturing process.
· Growing adoption across various industries: The adoption of 3D printing technology is increasing across various industries, such as aerospace, automotive, healthcare, and consumer goods. This is driven by the need for customised and complex products and the benefits offered by 3D printing technology.
· Government support: Several governments are supporting the development and adoption of 3D printing technology, providing funding and incentives for research and development activities. This is expected to drive the growth of the market in the coming years.
These key growth drivers are expected to propel the growth of the 3D printing plastics market in the coming years.
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The Key Market segments are:
By Market Players:
A123 Systems
3M
Front Edge Technology
mPhase Technologies
Altairnano
Evonik
Sony
Next Alternative
Toshiba
Sinlion Battery Tech
By Type:
Nano phosphate technology
Nanopore battery technology
Lithium-ion technology
By Application:
Powertools and industrial
Military
Transport
Consumer electronics
Renewable and grid energy
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There are several types of plastics used in the 3D printing plastics market. Some of the major types include:
· Photopolymers: These are liquid plastics that are cured using ultraviolet (UV) light. They are commonly used in the production of small and intricate parts, as they offer high precision and accuracy.
· ABS (Acrylonitrile Butadiene Styrene): This is a thermoplastic that is commonly used in the production of consumer goods, such as toys, electronic housings, and automotive parts. ABS is known for its strength, durability, and resistance to impact.
· PLA (Polylactic Acid): This is a biodegradable thermoplastic that is commonly used in the production of food packaging, disposable utensils, and medical implants. PLA is known for its eco-friendliness and biodegradability.
· Nylon: This is a thermoplastic that is known for its strength, durability, and flexibility. It is commonly used in the production of mechanical parts, such as gears and bearings.
· PET (Polyethylene Terephthalate): This is a thermoplastic that is commonly used in the production of bottles, containers, and other packaging materials. It is known for its strength, durability, and resistance to impact.
Recent news on the market:
"Global 3D Printing Plastics Market Expected to Reach $2.3 Billion by 2025" - This article discusses the growth prospects of the 3D printing plastics market and provides an analysis of the key drivers and challenges.
"3D-Printed Plastic Objects that Talk with Wi-Fi without Batteries" - This article highlights a new development in 3D printing technology where plastic objects can communicate via Wi-Fi without requiring batteries.
"3D Printing is Revolutionising the Plastic Industry" - It discusses the impact of 3D printing on the plastic industry, including its potential to reduce waste, increase customization, and improve sustainability.
"Scientists Discover New Way to Recycle Plastic for 3D Printing" - Highlights a breakthrough in plastic recycling technology that could significantly reduce the environmental impact of 3D printing.
Future outlook of the market:
The future outlook for the 3D printing plastics market is positive, as the demand for customised and complex products is increasing across various industries, and technological advancements are driving down the cost of equipment and materials. The market is expected to continue to grow at a rapid pace, driven by several factors.
Advancements in 3D printing technology, Focus on sustainability, Expansion into new industries, and Government support are the factors to be considered for future growth of the market.
Overall, the 3D printing plastics market is expected to continue to grow and evolve in the coming years, with new applications, materials, and technologies driving innovation and creating new opportunities for businesses and consumers alike.
Conclusion:
In conclusion, the 3D printing plastics market is experiencing significant growth due to several key drivers, including the increasing demand for customised and complex products, cost-efficient manufacturing processes, and the rising demand for bio-based and eco-friendly 3D printing plastics.
Technological advancements, growing adoption across various industries, and government support are also contributing to the growth of the market.
There are several types of plastics used in the market, each with unique properties and benefits, which make them suitable for specific applications in various industries.
While the 3D printing plastics market faces some challenges, such as the high cost of equipment and materials, the increasing focus on sustainability and innovation is expected to drive growth in the coming years.
Table of contents of the report:
Executive Summary
Introduction
· Definition of 3D Printing Plastics
· History and Evolution of 3D Printing Plastics
· Market Segmentation
Market Overview
· Market Size and Growth Potential
· Market Dynamics and Trends
· Competitive Landscape
Key Growth Drivers
· Customization and Complexity of Products
· Cost-efficient Manufacturing Processes
· Demand for Bio-based and Eco-friendly 3D Printing Plastics
Major Types of Plastic Used in the Market
· Photopolymers
· ABS (Acrylonitrile Butadiene Styrene)
· PLA (Polylactic Acid)
· Nylon
· PET (Polyethylene Terephthalate)
· Others (TPU, PC, PEEK, PEI)
Industry Applications of 3D Printing Plastics
· Automotive
· Aerospace and Defense
· Healthcare and Medical Devices
· Consumer Goods
· Others
Challenges and Opportunities
· High Cost of Equipment and Materials
· Intellectual Property Issues
· Safety and Regulatory Concerns
· Emerging Opportunities and Trends
Regional Analysis
· North America
· Europe
· Asia-Pacific
· Rest of the World
Company Profiles
· Major Players in the Market
· Company Overview, Products and Services,
Recent Developments
Conclusion and Future Outlook
Summary of Findings
Future Growth Opportunities and Trends
Recommendations for Industry Participants
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