Luton, Bedfordshire, United Kingdom, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the 3D Printing Plastics Market.
The global 3D printing plastic market is expected to grow at more than 25% CAGR from 2023 to 2029. It is expected to reach above USD 17.81 billion by 2029 from USD 2.39 billion in 2022.
3D printing of plastics is an effective method and widely used for the production of components and parts in various sectors such as automotive, consumer electronics and pharmaceuticals. ABS and PLA are commonly used materials in 3D printing of plastics. Considering the current scenario, the consumer goods are emerging significantly in the implementation of 3D plastic products in order to minimize the lead time provided by additive manufacturing techniques.
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Some notable developments in the industry are as follows:
- In February 2022, H.P. intends to use 3D printing to assist in the elimination of single-use PET packaging.
- In April 2022, 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, a leading provider of polymer 3D printing solutions, Stratasys Ltd., recently declared itself to be Toyota Racing Development's official 3D printing partner (TRD).
North America dominated the market and generated more than 36 per cent of worldwide sales.
The region has developed marketplaces and a highly developed 3D printing sector, both of which have a substantial impact on market growth. In the North American market, polylactic acid (PLA) is anticipated to grow at a favourable rate. Due to its availability in a wide range of hues and blends, PLA-derived filament is frequently employed in various application fields. Additionally, it makes the finished printed product seem better and simpler to utilize.
In 2021, the U.S. will dominate the North American market, and it is anticipated that it will keep that position during the projected period. Due to the growing geriatric population in the nation, the demand for 3D printing plastics is mainly driven by the expanding medical end-use market. The mechanical and chemical qualities provided by 3D printed plastics are a contributing factor in the rising demand for these materials in medical equipment.
Growing demand for 3D printing plastic across the industry accelerating the global 3D printing plastic market.
Increased supply of 3d printing plastics due to the forward integration of major polymer companies is a major driver for global 3D plastic market. Demand for 3D printing plastics from industries for the mass production of their products is also responsible for significant growth of market. Development of the application-specific grades of 3D printing plastics are helping to boost the market worldwide.
Increasing requirement from end user for bio-based grades of 3D printing plastics will drastically change the global market.
The 3D printing materials market drivers include the increasing demand from various end-users. The market is expected to advance due to the rising use of 3D printed parts in aerospace, automotive, and military applications. 3D printing technology has turned out to be a highly useful technology for manufacturing parts with intricate designs.
Key manufacturers of 3D printing materials market are reliant on forging long term partnership and collaborative agreements, introducing new product lines into the market and acquiring rival players to strengthen customer base.
3D Printing Plastics Market Report Scope
| Report Attribute | Details |
| Market size value in 2022 | USD 2.39 billion in 2022 |
| Revenue forecast in 2029 | USD 17.81 billion by 2029 |
| Growth rate | CAGR of 25% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2022 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman |
| Key companies profiled | 3D Systems Corporation, Stratasys, Ltd., Arkema SA, BASF SE, Evonik Industries AG, SABIC, HP Inc., DowDuPont Inc., Royal DSM N.V., EOS GmbH Electro Optical Systems, Clariant International Ltd., CRP Group, Envisiontec GmbH, Materialise NV, and Oxford Performance Materials Inc. |
| Key Market Opportunities | The rising demand for laser sintering technology by engineers and manufacturers in various commercial sectors will increase the demand for polyamide (nylon), which is further expected to drive the 3D printing plastic industry growth. |
| Key Market Drivers | The increasing use of photopolymers and polyamide (nylon) materials in 3D printing owing to its alluring properties is estimated to drive the 3D printing plastics market growth. |
| Customization scope | The development of innovative, stronger, lighter, and safer components and parts with lower lead times and costs is anticipated to create new opportunities for the growth of the global 3D printing plastic industry in the forecast period. |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
The key players operating in the 3D Printing Plastics industry are
Major players such as 3D Systems Corporation, Stratasys, Ltd., Arkema SA, BASF SE, Evonik Industries AG, SABIC, HP Inc., DowDuPont Inc., Royal DSM N.V., EOS GmbH Electro Optical Systems, Clariant International Ltd., CRP Group, Envisiontec GmbH, Materialise NV, and Oxford Performance Materials Inc., hold a large portion of the market. Numerous other players operating in the industry are focused on delivering advanced cryogenic products for various end-use industries and looking to integrate by merger and acquisition strategy.
Full Report Description, TOC, Table of Figure, Chart, etc.-
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Key Market Segments: 3D Printing Plastic Market
Market by Type, 2023-2029, (USD Million, Thousand Units)
- Photopolymers
- ABS & ASA
- Polyamide/Nylon
- Polylactic Acid (PLA)
- Others
Market by Form, 2023-2029, (USD Million, Thousand Units)
- Filament
- Ink
- Powder
Market by End User, 2023-2029, (USD Million, Thousand Units)
- Automotive
- Medical (Prosthetics & Implants, Surgical Instruments)
- Aerospace & Defense
- Consumer Goods
Market Dynamics
3D Printing Plastics Market Drivers
Increased supply of 3D printing plastics as a result of forwarding integration of key polymer businesses
3D printing technology is currently among the most important disruptive technologies. Including electrical & electronics, automotive, healthcare, and aerospace & military, it is continuously expanding its customers. Because of the expanding usage of 3D printing technology in various industries, the need for 3D printing materials like plastics is anticipated to increase. Initially, intermediaries were used to add value to the products made available by 3D printing technology by providers of the polymers used in 3D printing. The supply of these intermediaries could not keep up with the demand for polymers for 3D printing.
Increasing demand for additive manufacturing in the automotive industry driving the growth
Recent advancements in the field of additive manufacturing have made substantial new pathways available in the automotive sector. It has made it feasible to create new, safer, stronger, and lighter components and parts while shortening the time and cost of production. The OEMs used 3D printing mostly to complete rapid prototyping. Due to the increasing product demand in the automotive sector, market growth is anticipated in the next years.
3D Printing Plastics Market Opportunities
Growing demand in the 3D printing plastics market for bio-based grades of material
Some of the polymers used in 3D printing are derived from organic resources including starches, palm oil, and castor seeds. The natural materials PA11, PA12, and PLA are more examples. A bio-based grade of PA12 that will be manufactured using palm oil as the primary raw material will be marketed by Evonik AG. The production of PA12 bio-based grades generated from palm oil is projected to help the global market for powdered 3D printing plastics grow. It's because one of the main ingredients in the bio-based PA12, a significant kind of plastic used in 3D printing, is palm oil. The governments of various countries that significantly rely on agriculture are supporting the production of in order to ensure the continuous growth of their agriculture sectors. To secure the continued expansion of their agriculture industries, the governments of several nations that rely heavily on agriculture are encouraging the manufacturing of bio-based polymers.
3D Printing Plastics Market Restraints
Environmental issues with the disposal of 3D-printed plastic goods
The expansion of the 3D printing plastics market is likely to be constrained during the forecast period by escalating environmental concerns regarding the global disposal of plastic materials. At first glance, 3D printing appears to be a production method that is substantially more ecologically friendly than traditional subtractive methods. Instead of cutting forms from a single block of raw materials, which results in offcuts and waste, 3D printers build items layer by layer using just the necessary amount of material. But the availability of 3D technology raises serious concerns regarding plastic waste. Manufacturers may create in-house using 3D printers' rapid prototyping capabilities, which reduces turnaround times and costs. However, there are concerns that this could lead to an increase in the amount of waste items on the market.
Key Question Answered
- Who are the major players in the 3D printing plastic market?
- What are the regional growth trends and the largest revenue-generating regions in the 3D printing plastic market?
- What are the major drivers and challenges in the 3D printing plastic market?
- What are the major form segments in the 3D printing plastic market?
- What are the major end users in the 3D printing plastic market?
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