Press release
3D Printing Plastics Market Future Business Scope Analysis Report, Marketing Strategy, Growth Analysis
The 3D printing plastics market is projected to grow from USD 1.7 billion in 2023 to USD 4.4 billion by 2028, at a CAGR of 22.0% during the forecast period. The market research report provides access to critical information such as 3D printing plastics market growth [https://www.marketsandmarkets.com/Market-Reports/3d-printing-plastic-market-21707470.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=3dprintingplastic] drivers, market growth restraints, current market trends, the market's economic and financial structure, and other key market details. The growth of the 3D printing plastics market is being driven by a number of factors, including the increasing demand for lightweight and fuel-efficient materials in the aerospace industry, Growing industrialization and rising disposable income in developing economies have contributed to the growth of the automotive industry and, in turn, the demand for 3D printing plastics. Increased supply of 3D printing plastics due to forward integration of key polymer companies. Several governments globally support adopting 3D plastic printing in various industries.
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PLA type segment is expected to grow with second highest CAGR in 3D printing plastics market during the forecasted period.
The 3D printing plastics market is segmented based on the types into photopolymer, ABS, polyamide, PLA, PETG, Others. Polylactic Acid (PLA) is a type of plastic commonly used in 3D printing. It is derived from natural products like sugar cane and corn starch, making it biodegradable and eco-friendly. PLA is available in both soft and hard forms, allowing for the creation of a wide range of products. It is known for its reliability, quality, and vibrant colors, and it is one of the most popular and affordable 3D printing materials. PLA is easy to work with, available in a variety of colors, and can be used as either a resin or filament. The photopolymer segment dominated the overall 3D printing plastics market in 2022, owing to its exceptional properties and wide acceptance in end-use industries such as aerospace & defense, automotive industry.
Liquid form to be the second fastest-growing segment in the global 3D printing plastics market in terms of value and volume
The liquid segment is projected to register the second-highest CAGR, both terms of value and volume, during a forecast period. The increasing demand for 3D printing materials and plastics in the powder form is due to the rise in demand from the aerospace & defense, automotive, and healthcare industries.
Tooling application is expected to grow with the second highest CAGR, both in terms of value and volume during the forecast period
The tooling segment is expected to be the second fastest-growing application of the global 3D printing plastics market. Tooling applications in 3D printing plastics involve the use of 3D printed rapid tooling to support traditional manufacturing processes such as injection molding, vacuum forming, or silicone molding. This allows for the production of limited silicones and composites, with a flexible, agile, scalable, and cost-efficient tooling process. 3D printed tools can support the low volume fabrication of parts in various materials, including plastics, and enable the production of thermoplastics parts cost-effectively in-house.
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Healthcare to be the second fastest-growing end-use industry in the global 3D printing plastics market in terms of value and volume
3D printing plastics in the healthcare industry has gained significant attention due to its potential for creating customized, high-quality medical devices. 3D printing allows for the creation of customized prosthetic limbs that can be tailored to the specific needs of individual patients. This can improve the comfort and functionality of the prosthetics, leading to better patient outcomes. 3D printing used to create biocompatible implants, such as dental implants or orthopedic implants, that can be customized to fit the specific needs of individual patients. This can improve the success rate of the implants and reduce the risk of complications. The use of 3D printing in the healthcare industry has the potential to revolutionize the way medical devices are designed, manufactured, and delivered. It offers a cost-effective, efficient, and customizable solution for creating high-quality medical devices that can improve patient outcomes and reduce healthcare costs.
Asia Pacific region is expected to registered second second-highest CAGR in terms of value during forecasted period
The 3D printing plastics market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
The Asia Pacific 3D printing plastics market is experiencing explosive growth, fueled by a potent mix of factors. Soaring demand from industries like aerospace, automotive, and wind energy is at the forefront, with China leading the charge. China, the world's one of the largest 3D printing plastics producer and consumer, is driving the market with its booming domestic aircraft and electric vehicle production. This insatiable demand for lightweight and fuel-efficient materials is propelling the region's 3D printing plastics market to new heights. Countries like Japan and South Korea, with their established automotive and electronics industries, are also contributing significantly to the regional market growth. Their focus on technological advancements and sustainability goals aligns perfectly with the advantages of 3D printing plastics, ensuring continued demand in the years to come.
3D Printing Plastics Companies [https://www.marketsandmarkets.com/ResearchInsight/3d-printing-plastic-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=3dprintingplastic]
Prominent companies include 3D Systems Corporation (US), Arkema (France), BASF SE (Germany), Stratasys, Ltd. (US), Solvay (Belgium), Shenzhen eSUN Industrial Co., Ltd. (China), Evonik Industries AG (Germany), EOS (Germany), Formlabs (US), SABIC (Saudi Arabia), CRP TECHNOLOGY S.r.l. (Italy), Henkel AG & Co. KGaA (Germany), Huntsman International LLC (US), Ensinger (Germany), and Zortrax (Poland) among others.
Stratasys, Ltd. (US)
Stratasys, Ltd. is a manufacturer of 3D printing plastics. Stratasys, Ltd. is a global leader in connected, polymer-based 3D printing solutions, which it provides at every stage of the product life cycle, with multiple technologies and complete solutions for superior application fit across design and manufacturing. The company's focus, in particular, is on polymer 3D printing solutions that address the fastest-growing manufacturing solutions, which it views as the biggest potential growth opportunity in the 3D printing industry.
The company has focused on the adoption of organic and inorganic strategies to cement its position as the market leader in the 3D printing plastics market. This includes the various product launches and developments and acquisitions, which have been supported by several contracts, collaborations, and partnerships with businesses from across the world.
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Arkema (France)
Arkema is a chemical producer that provides specialty chemicals and advanced materials. The company manufactures various products for the construction, packaging, chemical, automotive, electronics, food, and pharmaceutical industries. It operates through three business segments: high-performance materials, industrial specialties, and coating solutions. The company offers 3D printing plastic materials through its coating solutions business segment. The company outlines long term agreement as one of the key practices for growing its 3D printing plastics business.
Evonik Industries AG (Germany)
Evonik Industries is one of the major chemical and specialty chemical companies. The company operates its business through five segments, namely, technology & infrastructure, performance materials, smart materials, nutrition & care, and special additives. The company has over 20 years of expertise in developing and manufacturing 3D printing materials, offering a diverse portfolio of thermoplastic and elastomeric materials for various 3D printing technologies. Evonik's 3D printing plastics are used in industrial applications, including the production of plastic parts, medical devices, and other end-use products. The company's 3D printing materials include nylon powders, elastomers, PEEK filaments, specialized photopolymers, and bioresorbable polymers for medical applications. Evonik's involvement in the 3D printing industry extends to investment in software start-ups that support industrial companies in adopting 3D printing technologies.
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