Pune, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that the size of 3D Printing Plastics Market was valued at USD 969.97 million in 2022. It is anticipated to reach USD 5.59 billion by 2030, exhibiting a projected compound annual growth rate (CAGR) of 24.5% during the forecast period from 2023 to 2030.
Market Overview
3D printing plastics encompass a diverse range of materials, each tailored to specific applications. Commonly used plastics include PLA (Polylactic Acid), ABS (Acrylonitrile Butadiene Styrene), PETG (Polyethylene Terephthalate Glycol), and Nylon. The choice of material depends on factors such as strength, flexibility, and heat resistance. One of the key advantages of 3D printing plastics is their adaptability to various industries. From prototyping in manufacturing to crafting medical implants and producing intricate consumer products, 3D printing plastics have proven to be a game-changer in terms of customization and precision.
Market Analysis
The continuous evolution of 3D printing technologies acts as a major driver for the 3D printing plastics market. Advancements in printer capabilities, including multi-material printing and high-speed production, enhance the efficiency and scope of 3D printing plastic applications. In a world where personalization is increasingly valued, 3D printing plastics offer unmatched flexibility. Industries such as healthcare and automotive benefit from the ability to tailor products to individual specifications, driving the demand for customizable 3D printing solutions. 3D printing plastics contribute to cost efficiency in manufacturing. The additive manufacturing process minimizes material wastage, accelerates prototyping, and reduces the need for complex tooling. This cost-effectiveness is a significant factor propelling the adoption of 3D printing plastics across industries. The healthcare sector has witnessed a surge in demand for 3D printing plastics, particularly for applications such as patient-specific implants and prosthetics. The ability to create bespoke medical solutions with precision and speed has fueled the growth of 3D printing plastics in healthcare.
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3D Printing Plastics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 969.97 Million |
| Market Size by 2030 | USD 5.59 Billion |
| CAGR | CAGR of 24.5% by 2023-2030 |
| Market Drivers |
|
| Market Opportunities |
|
| Impact Analysis | We Cover,
|
Key Players:
The Key Players are Solvay S.A., 3D Systems Corporation, Covestro AG, Arkema S.A., Evonik Industries, Stratasys, Inc., BASF SE, Henkel, EOS GmbH Electro Optical Systems, SABIC & Other
Key Takeaway from 3D Printing Plastics Market Study
- In the landscape of 3D printing plastics, the Aerospace & Defense segment takes center stage due to its unique requirements and applications. The demand for lightweight yet robust materials in the production of aircraft components and defense equipment has fueled the adoption of 3D printing plastics in this sector.
- In the 3D printing industry, the Photopolymers segment has emerged as a formidable force, poised to dominate the 3D Printing Plastics Market. This revolutionary technology has redefined the landscape of additive manufacturing, offering a plethora of advantages that position it at the forefront of the industry.
Recent Developments
- CRP Technology has unveiled a cutting-edge 3D printing material specifically designed for injection molding applications. The newly launched 3D printing material stands out for its versatility and compatibility with injection molding techniques, opening up a bunch of possibilities for manufacturers seeking to integrate sustainable practices into their operations.
- Formlabs, a frontrunner in the 3D printing industry, has recently introduced two state-of-the-art 3D printing resins designed specifically for biomedical and dental applications. The new flexible BioMed and Dental 3D printing resins represent a significant leap forward in the realm of additive manufacturing for healthcare professionals.
Market Dynamics Analysis
The dynamics of the 3D printing plastics market are characterized by a complex interplay of drivers, restraints, challenges, and threats that collectively shape the industry's trajectory. On the driver's side, the increasing adoption of 3D printing technologies across diverse sectors, including automotive, aerospace, healthcare, and consumer goods, propels the demand for 3D printing plastics. The versatility of these materials, allowing for the creation of intricate and customized designs, stands out as a key driver. Moreover, the growing emphasis on sustainable and eco-friendly practices in manufacturing has led to a surge in the use of biodegradable and recyclable 3D printing plastics, fostering market growth. However, this upward momentum faces certain restraints. The cost associated with high-performance 3D printing plastics remains a challenge for widespread adoption, particularly in smaller enterprises. Additionally, the limited material properties of some 3D printing plastics pose constraints on their utility in certain applications.
Key Regional Developments
North America stands at the forefront of technological innovations in the 3D printing plastics market. The region's strong emphasis on research and development, coupled with a robust manufacturing infrastructure, has propelled it to a leading position. Europe has emerged as a hub for sustainable 3D printing plastics solutions. With a growing focus on environmental sustainability and stringent regulations promoting eco-friendly practices, European countries are adopting bio-based and recycled materials in 3D printing applications. The Asia-Pacific region is experiencing rapid industrialization, contributing significantly to the expansion of the market. Countries like China, Japan, and South Korea are witnessing a surge in demand, primarily driven by the automotive and electronics industries.
Impact of Recession
One of the primary factors contributing to the shift in the 3D printing plastics market is the change in consumer demand. In times of economic uncertainty, businesses and consumers alike tend to tighten their belts, leading to a reduction in discretionary spending. Despite the challenges posed by the recession, the market remains dynamic and resilient. Industry players are responding to the economic downturn with innovation and adaptation. Companies are re-evaluating their product portfolios, exploring cost-effective materials, and streamlining manufacturing processes to maintain competitiveness in a challenging economic environment.
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TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. 3D printing plastics market Segmentation, by Type
8.1 Photopolymers
8.2 ABS
8.3 PLA
8.4 Polyamide
8.5 Others
9. 3D printing plastics market Segmentation, by Form
9.1 Powder
9.2 Filament
9.3 Liquid
10. 3D printing plastics market Segmentation, by Application
10.1 Prototyping
10.2 Manufacturing
10.3 Others
11. 3D printing plastics market Segmentation, by End-Use Industry
11.1 Aerospace & Defense
11.2 Healthcare
11.3 Automotive
11.4 Electronics & Consumer Goods
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.5 USA
12.2.6 Canada
12.2.7 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.5 Poland
12.3.1.6 Romania
12.3.1.7 Turkey
12.3.1.8 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.4 Germany
12.3.2.5 France
12.3.2.6 UK
12.3.2.7 Italy
12.3.2.8 Spain
12.3.2.9 Netherlands
12.3.2.10 Switzerland
12.3.2.11 Austria
12.3.2.12 Rest of Western Europe
12.4 Asia-Pacific
12.4.5 China
12.4.6 India
12.4.7 Japan
12.4.8 South Korea
12.4.9 Vietnam
12.4.10 Singapore
12.4.11 Australia
12.4.12 Rest of Asia-Pacific
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.5 UAE
12.5.1.6 Egypt
12.5.1.7 Saudi Arabia
12.5.1.8 Qatar
12.5.1.9 Rest of Middle East
12.5.2 Africa
12.5.2.5 Nigeria
12.5.2.6 South Africa
12.5.2.7 Rest of Africa
12.6 Latin America
12.6.5 Brazil
12.6.6 Argentina
12.6.7 Colombia
12.6.8 Rest of Latin America
13 Company Profile
13.1 3D Systems Corporation,
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Stratasys, Inc.
13.3 Covestro AG
13.4 Arkema S.A.
13.5 Evonik Industries
13.6 BASF SE
13.7 Solvay S.A
13.8 Henkel
13.9 EOS GmbH Electro Optical Systems,
13.10 SABIC
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
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