According to a market report, published by Sheer Analytics and Insights, the total market was valued at $2.3 billion in 2021 and it is expected to reach $10.1 billion at a CAGR of 14.2% between 2022 and 2032.
The demand for the 3D printed plastics market is increasing in several end-user industries such as automotive manufacturing, healthcare sectors, military, and defense, as well as in consumer goods and services. This huge demand is driving the growth of the 3D printing plastics market. Moreover, there are several benefits such as flexible design, rapid prototyping, high durability, strong and lightweight parts, fast design and production, rigidity, and outstanding ultraviolet and temperature obstructive capability that are significantly propelling the demand for the 3D printing plastics market in these global industries.
Additionally, demand for disposable food and beverage packages is increasing which deploys polycarbonates, ABS, and several inexpensive 3D printing plastics, which are other major factors driving the growth of the market and is anticipated to drive the market in the upcoming years. Furthermore, the demand for 3D printing plastics is also growing in the electrical and electronics sectors which are likely to drive the market during the forecast period.
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At present days, technology has become more advanced and stronger than before. This advanced technology is helping manufacturers to produce innovative products and launch them in the market. Moreover, accessible raw materials are also available in multiple regions. These two major factors are creating excellent opportunities for the 3D printing plastics market. This would also help the industry to gain more growth opportunities over the upcoming years. Very few grades of 3D printing plastics are available in the market that supports a particular 3D printing technology. Hence, these grades of plastics need to be perpetually extended to keep in sync with the interchanging 3D printing technology. However, a particular structure of mass production is the major challenge for the 3D printing plastics industry, as manufacturing industries need a very active production system to produce innovative grades of plastics.
3D printing plastics are used in making many products due to their inexpensive costs, water resistance, and versatility. Due to these advantages, the market is projected to witness significant growth opportunities. Moreover, the increasing demand for excellent quality healthcare instruments and components from medical sectors in major countries of Asia-Pacific such as India, China, and Japan, among others is accelerating the market growth. Some of the key players from both North America and the Asia-Pacific region are focusing on using mergers and acquisitions to create new business strategies. This would help them as well as the manufacturing companies to create advanced 3D printing plastics products in the upcoming future.
Some of the new product launches in the past 1 year are listed below:
According to the study, key players such as 3D Systems (U.S), American Elements (U.S), Arkema (France), BASF SE (Germany), CRP Technology (Italy), Covestro (Germany), DSM (Netherlands), DuPont (U.S), ExOne (U.S), EOS (Germany), Evonik Industries (Germany), Formlabs (U.S), GE Additive (Germany), Huntsman Corporation (U.S), Henkel (Germanay), Materialise NV (Belgium), SABIC (Saudi Arabia), Shenzhen eSUN (China), Solvay SA (Belgium), Stratasys (Israel), among others are leading the global 3D printing plastics market.
The Global 3D Printing Plastics Market Has Been Segmented Into:
The Global 3D Printing Plastics Market – by Type:
The Global 3D Printing Plastics Market – by Form:
The Global 3D Printing Plastics Market – by End-User:
The Global 3D Printing Plastics Market – by Regions:
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Sheer Analytics and Insights