The 3D printing plastics market is estimated to be USD 721 million in 2022 and is projected to reach USD 1,907 million by 2027, at a CAGR of 21.5% between 2022 and 2027. The supportive initiatives undertaken by governments of different countries to support adoption of 3D printing technologies in various industries is one of the most significant factors projected to drive the growth of the 3D printing plastics market. Increased supply of of 3D printing plastics due to forward integration of major polymer companies and mass customization are also contributing to the growth of the 3D printing plastics market. However, skepticism regarding acceptance of new technologies in emerging economies has affected the 3D printing plastics market adversely.
Initiatives undertaken by governments of different countries to support adoption of 3D printing technologies in various industries 3D printing is being used in a wide range of industries around the world because it reduces operating time and costs while enabling mass production of goods. Governments from around the globe are taking steps to encourage the adoption of 3D printing plastics in a variety of industries. For instance, the Government of India’s Ministry of Electronics and Information developed a 3D printing policy in December 2020 to create a favorable environment for local firms. The US President launched the AM Forward program in May 2022, with the goal of accelerating the growth of additive manufacturing (AM) in the country. The program will see the US government and large multinational corporations support 3D printing initiatives as well as small and medium-sized enterprises (SMEs) in a variety of ways.
Skepticism regarding acceptance of new technologies in emerging economies The rate of adoption of new technologies varies from one country to another depending on various macroeconomic factors such as GDP and the growth of industries contributing to the GDP of a country. activities for the development of new and innovative technologies. Lack of adoption of new technologies in emerging economies can be attributed to the dependence of industries defining GDP of these economies on the traditional occupations such as agriculture and raw material manufacturing. As such, technological trends such as 3D printing technology do not prevail in these regions.
Growing demand for composite grades of 3D printing plastics in various industrial applications The growing adoption of 3D printing technology in commercial applications has led to the increased demand for composite grades of 3D printing plastics in various industrial applications across the globe.These grades offer optimum performance in extreme conditions such as corrosive and high temperature/pressure environments.
The composite grades of 3D printing plastics after some value additions such as carbon fibers, offer improved performance.Carbon fibers, glass (glass filled), and aluminum (alumina), among others, are added to PLA, ABS, PA11, and PA12 to enhance their performance.
Some of the popular composite grades of 3D printing plastics include PC-ABS, stainless steel PLA, magnetic iron PLA, carbon fiber PLA, high-temperature annealable PLA, conductive carbon PLA, aromatic PLA, and conductive plastics, among others.
Evolving 3D printing technologies 3D printing technologies are continuously evolving with the advent of new technologies and printing materials, which outperform the previous ones. There are a very few grades of 3D printing plastics that support a particular 3D printing technology. These grades of plastics need to evolve continuously to be in synchronization with the changing 3D printing technologies. The major challenge for the 3D printing plastics market is the establishment of a particular structure for the mass production of specific commercial grades of 3D printing plastics. Manufacturers of these plastics require agile manufacturing systems for producing new grades of plastics using similar base materials to cater to requirements of the changing 3D printing technologies.
Asia Pacific region is expected to grow with the highest CAGR during the forecast period Asia Pacific is the fastest-growing market for 3D printing plastics globally.The region is projected to become a major supplier base for 3D printing plastics in the coming years.
The 3D printing industry in Asia Pacific is largely concentrated in the Southeast Asian region, which is one of the leading markets for 3D printing in terms of industrial application.The cost of raw material plastics is less in Asia Pacific due to their easy availability, which promises a high potential for the market growth in the coming years.
This easy availability of raw material will also help the region to emerge as a global supplier of 3D printing plastics. This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories: • By Company Type- Tier 1- 37%, Tier 2- 33%, and Tier 3- 30% • By Designation- C Level- 50%, Director Level- 20%, and Others- 30% • By Region- Europe- 50%, Asia Pacific (APAC) - 20%, North America- 15%, Middle East & Africa (MEA)-10%, Latin America-5%,
The report provides a comprehensive analysis of company profiles : 3D systems Corporation (US), Stratasys, Inc. (US), Covestro AG (Germany), Arkema S.A. (France), Evonik Industries (Germany), BASF SE (Germany), Solvay S.A. (Belgium), Henkel (Germany), EOS GmbH Electro Optical Systems (Germany), and SABIC (Saudi Arabia)
Research Coverage This report covers the global 3D printing plastics market and forecasts the market size until 2027.It includes the following market segmentation – by type (Photopolymer, ABS, PLA, Polyamide, Others), by form (Powder, Filament, Liquid), by application (Prototyping, Manufacturing, Others), by end-user industry (Aerospace & Defense, Healthcare, Automotive, Electronics & Consumer Goods, Others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America).
Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global 3D printing plastics market.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways: 1. This report segments the global 3D printing plastics market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 2. The report helps stakeholders understand the pulse of the 3D printing plastics market and provides them with information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion, and acquisition.
Reasons to buy the report: The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall 3D printing plastics market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
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