New York, United States, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Plastic is a substance created from synthetic or partially synthetic materials. These substances can change their shape, which makes them flexible. The majority of plastics are artificial and are frequently made from petrochemicals.
It is well recognized to be highly efficient when comparing 3D printing or additive manufacturing to other traditional manufacturing processes; cutting down on project costs, time, and effort makes production possible. A prototype can even be made without using specialist equipment. Additionally, additive manufacturing eliminates several geometries-related tooling restrictions. The global market for polymers used in 3D printing has recently experienced growth, providing new opportunities for the automobile industry. It has created novel, more powerful, lighter, and safer components and parts with shorter lead times and lower costs.
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Increased supply of 3D printing plastics as a result of forwarding integration of key polymer businesses
According to Straits Research, “The global 3d Printing Plastics Market Size was valued at USD 782.36 million in 2021, and it is anticipated to reach USD 3954.37 million by 2030 at a CAGR of 22.45%.” 3D printing is a disruptive technology. It expands in aerospace & military, healthcare, automotive, and electrical & electronics. The expanding use of 3D printing in these industries will likely raise demand for 3D printing plastics. 3D printing plastics suppliers were initially intermediates who added value to 3D-printed products. The intermediaries' supply capacity for 3D printing polymers was inadequate. Currently, the number of 3D printing plastics suppliers is expanding globally, resulting in an adequate supply to meet demand from diverse industries. Arkema SA, Covestro AG, SABIC, Evonik AG, and Henkel have forward integrated into the 3D printing plastics market. It is predicted to enhance the supply of 3D printing polymers, growing the market.
- Increasing demand for additive manufacturing in the automotive industry driving the growth
Recent breakthroughs in the additive manufacturing sector have opened significant new opportunities for the automobile industry. It has aided in the creation of novel, robust, lightweight, and safe components and parts with shorter lead times and lower costs. The OEMs used 3D printing primarily for quick prototyping. In light of this, market expansion in the upcoming years is anticipated to be driven by expanding product demand in the automotive industry.
In the United States, the need for plastics to print 3D prototypes has grown a lot in the past few years. Additionally, additive manufacturing for high-volume production is anticipated to be used by more manufacturers. Due to manufacturers' increased use of additive manufacturing technology to create new components for the aftermarket business, there are many lucrative market opportunities.
Growth opportunities for the 3D printing plastics market
- Growing demand in the 3D printing plastics market for bio-based grades of material
Castor seeds, palm oil, and starches are natural sources from which several 3D printing plastics, such as PA11, PA12, and PLA, are made. An environmentally friendly PA12 grade made from palm oil is forthcoming from Evonik AG. The development of bio-based grades of PA12 from palm oil is anticipated to support the expansion of the 3D printing plastics market globally since palm oil is one of the main raw ingredients for PA12, a significant powdered 3D printing material. To assure the expansion of their agricultural sectors, the governments of various nations with a large agricultural sector are encouraging the development of bio-based polymers. The use of bio-based plastics for 3D printing applications is anticipated to increase. Additionally, locating their manufacturing facilities in these nations will give producers of bio-based 3D printing polymers a strategic advantage.
Regional analysis of the global market for the 3D printing plastics market
The global market for 3D printing plastics is segmented into North America, Europe, Asia-Pacific, Central & South America, and the Middle East & Africa.
North America dominated the market. North America's proportion of global revenue in 2021 was over 40%. The region's mature markets and advanced 3D printing sector boost market growth. PLA is expected to grow in North America. PLA filament is commonly used since it comes in many colours and mixes. It's easier to use and provides printed products with a quality look.
The U.S. controlled North America in 2021 and should continue to do so. The burgeoning medical end-use market in the country is a primary driver of the 3D printing of plastics demand. 3D printed plastics' mechanical and chemical qualities drive medical equipment demand. Biocompatibility, visual clarity, and cost-effective manufacturing will drive healthcare product demand. The rising patient population due to the COVID-19 epidemic at the community level is expected to enhance demand for medical components, boosting demand for 3D printing plastics in the U.S.
Key Highlights
- The global market for 3D printing plastics is segmented into four parts based on type, form, end-use and region. Further, the market is divided into Photopolymers, ABS & ASA, Polyamide/Nylon, Polylactic acid and Others. The photopolymers segment dominated the market.
- Based on the the form, the market is divided into Filament, Ink and Powder. The filament segment dominated the market.
- According to the end-user, the market is divided into Automotive, Medical, Aerospace & Defence, and Consumer Goods. The medical segment had the highest market share in 2021.
- The global market for 3D printing plastics is segmented into North America, Europe, Asia-Pacific, Central & South America, and the Middle East & Africa. North America dominated the region.
Competitive analysis of the global 3D printing plastics market
Some key players contributing majorly to the 3D printing plastics market are Arkema Inc.; SABIC; Materialise NV; H.P. INC.; Envisiontec Inc.; Stratasys Ltd.; Eos GmbH Electro Optical Systems; 3D Systems Corporation; Royal DSM N.V., and PolyOne Corporation.
Recent developments in some of the key players:
- In February 2022, H.P. intends to use 3D printing to assist in the elimination of single-use PET packaging.
- In April 2022, H.P. Inc. recently announced a collaboration with Legor Group SPA to leverage its innovative 3D printing solutions to capitalize on growing opportunities in the jewellery and fashion accessories industries.
- In June 2022, the leading provider of polymer 3D printing solutions, Stratasys Ltd., recently declared itself to be Toyota Racing Development's official 3D printing partner (TRD).
Segmentation
By Type
- Photopolymers
- ABS & ASA
- Polyamide/Nylon
- Polylactic acid
- Others
By Form
- Filament
- Ink
- Powder
By End-use
- Automotive
- Medical
- Prosthetics & Implants
- Surgical Instruments
- Others
- Aerospace & Defense
- Consumer Goods
By Region
- North America
- Europe
- Asia-Pacific
- Central & South America
- The Middle East & Africa
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