ID: MRFR/CnM/5278-HCR | February 2023 | Region: Global | 147 Pages
3D Printing Plastics Market is expected to surpass the market value of over USD 5384.47 million by the year 2027 while registering a CAGR of 27.20% during the forecast period.
$5384.47 million
27.20%
Asia Pacific
2020-2027
The 3D Printing Plastics market size is projected to reach approximately USD 5384.47 million by 2027, at a CAGR of 27.20% from 2020-2027. 3D printing plastics is a substance that gives solid items three-dimensionality. These materials are produced in various forms, including liquids, powders, and solids. Because of their high density and efficiency, 3D printing plastics are gaining popularity worldwide. These materials are utilized in aviation, commercial vehicles, and various domestic uses. Because 3D printing technology is gaining traction, the market is expected to expand significantly throughout the projected period. The increase in demand for 3D printing plastic among manufacturing and production firms is expected to push the market. The 3D printing plastic market is expected to grow due to increased demand in areas such as electrical & electronics, aerospace & military, and health care.
COVID-19 Impact Analysis
COVID-19 has caused significant disruption in the manufacturing industry; production rates have been lowered, and rigorous mobility requirements have impacted some main industries. Government regulations and policies have also impacted the manufacturing of 3D printing materials. However, the growing demand for healthcare and the need for viable alternatives in the medical industry have hampered the growth of the 3D printing plastics market. The need for prostheses, dentistry, and other medical items that require personalization and quality aided the general expansion of the 3D printing plastics sector.
3D Printing Plastics Market Dynamics
The increase in commercial product manufacturing has had a favorable influence on market growth. Furthermore, the growth of the aerospace sector is the key driver of the 3D printing plastics market. 3D printing plastics are in great demand in electric devices and in the creation of three-dimensional solid things, which aid in improving their efficiency and appearance, consequently boosting the worldwide market growth. Furthermore, these polymers have advantageous qualities such as high permeability and density, increasing their demand. However, fluctuations in raw material costs utilized in manufacturing 3D printing plastics are expected to stymie market expansion throughout the projection period.
Market Drivers
3D printing technology is considered the most crucial disruptive technology of our time. Its customer base is constantly increasing in aerospace and military, healthcare, automotive, and electrical and electronics areas. Increased usage of 3D printing technology in these industries is predicted to lead to increased demand for 3D printing materials such as 3D printing polymers. Initially, 3D printing plastics suppliers were intermediaries that added value to things created with 3D printing technology. These middlemen's supply capacity was limited compared to the demand for 3D printing polymers. However, the number of 3D printing plastics providers constantly expands worldwide, resulting in an adequate supply of 3D printing plastics to meet the increasing demand from diverse industries.
Market Restraints:
Rising environmental concerns about the disposal of plastic materials gobally are anticipated to impede the growth of the 3D printing plastics market during the forecast period. At first glance, 3D printing is a greener manufacturing process than conventional subtractive ones. 3D printers construct objects layer by layer, using only the necessary quantity of material. But when it comes to plastic waste, the accessibility of 3D technologies is a huge cause for concern.
Market Opportunities:
Castor seeds, palm oil, and starches are natural sources from which several 3D printing plastics, such as PA11, PA12, and PLA, are made. A bio-based PA12 made from palm oil will be available from Evonik AG. The development of bio-based grades of PA12 from palm oil is anticipated to help the growth of the 3D printing plastics market ly since palm oil is one of the main raw ingredients for bio-derived PA12, an essential powdered 3D printing material. Governments of several agro-based countries are promoting the production of bio-based polymers to ensure the growth of their agriculture sectors. This is expected to encourage the use of bio-derived plastics for 3D printing applications.
3D Printing Plastics Segmentation
Type Insights
Based on Type, the 3D printing plastics market segmentation has been divided into photopolymer, acrylonitrile butane styrene, polyamide, polylactic acid, and others. In 2021, the photopolymer segment led the 3D printing plastics market growth with the highest revenue share in the market. A monomer, polymer base, oligomer, and photoinitiator are all components of soluble liquid mixes known as photopolymers. Light-sensitive polymeric materials alter both their physical and chemical characteristics when exposed to light. The reaction is triggered by ultraviolet light, which also alters the properties of photopolymers. They are widely used in several printing techniques, such as 3D printing, polyjet printing, and inkjet printing.
Form Inisghts
Based on Form, the 3D printing plastics market segmentation is divided into filament, powder, and liquid. In 2021, the filament segment led the market with the highest revenue share in the market. The growth is attributed to increasing demand from several application industries, including food packaging, dinnerware, upholstery, and disposable clothing. The demand is expected to be driven by the adaptability of filament over the next few years. The growing adoption of 3D printing in FDM technology propels the demand for filament types in the market.
End-Use Industry Inisghts
Based on End-Use Industry, the market is divided into healthcare, aerospace & defense, automotive, electrical & electronics, and others. In 2021, the healthcare segment led the market with the highest revenue share in the market. Cost-effectiveness, simplicity of customization, and rising rates of vascular and arthritic illnesses are major driving forces behind the medical industry's desire for 3D-printed plastics. Additionally, it is anticipated that swift product development, favorable government assistance, and enhanced technology will drive increased product demand for medical applications.
Global 3D Printing Plastics Market Share, By Region, 2021 (%)
3D Printing Plastics Market Overview by Region
By Region, the 3D printing plastics market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America led the market with the largest revenue share in 2021. Asia-Pacific is to register a significant growth rate over the forecast period.
North America
In 2021, North America dominated the market, and it is anticipated to sustain its dominance during the forecast period. This is due to the growing geriatric population in the nation and positive trends in North America's medical and aerospace industries. The rising government initiatives to expand 3D printing and funding for R&D will accelerate its adoption and raise demand for 3D printing supplies and technology. Furthermore, the presence of major industry players such as Stratasys, 3D System Corporation, and others in this Region is expected to drive the market's growth in North America.
Asia-Pacific
Asia-Pacific is expected to register the highest CAGR during the forecast period. This growth is attributed to the increasing demand for 3D printing plastics from countries such as China, Japan, and India. Additionally, expanding market penetration in developing Asian nations would create significant growth prospects for the industry. Furthermore, the rise in R&D investment by various public and private organizations for technological innovation is expected to fuel the growth of the 3D printing plastics market in Asia-Pacific.
3D Printing Plastics Market Competitive Landscape
There are tier-1, tier-2, and local companies in the market. The tier-1 and tier-2 players have a wide range of products and a presence. The market for 3D printing plastics is dominated by companies like 3D Systems Corporation, Arkema Inc., and Stratasys Ltd. because of their unique products, stability in their finances, innovative strategic plans, and reach. The participants are focusing their efforts on promoting R&D. Additionally, they support strategic expansion activities, including product launches, joint ventures, and partnerships to expand their client base and boost their market position.
The key players in the 3D printing plastics market research include 3D Systems Corporation, Envisiontec Inc., Arkema Inc., SABIC, Materialise NV, HP INC., Stratasys Ltd., Eos GmbH Electro Optical Systems, PolyOne Corporation, Royal DSM N.V.
Scope of the 3D Printing Plastics Market Report
Type Outlook
Form Outlook
Application Outlook
End-Use Industry Outlook
Region Outlook
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as follows:
3D Printing Plastics Market Forecast and Size:
To identify and estimate the market size for the 3D printing plastics market report segmented by type, form, application, end-use industry, and value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers in the 3D printing plastics market forecast between 2020 and 2030
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for the 3D printing plastics market growth
Market Influencing Factors:
To find out the factors which are affecting the 3D printing plastics market size among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
Company Profiling:
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2027: USD 5384.47 million |
CAGR | 27.20% CAGR (2020-2027) |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Form, Application, End-Use Industry |
Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World (RoW) |
Key Vendors | 3D Systems Corporation, Envisiontec Inc., Arkema Inc., Stratasys Ltd., SABIC, Materialise NV, HP INC., Eos GmbH Electro Optical Systems, PolyOne Corporation, and Royal DSM N.V. |
Key Market Opportunities | Growing demand for bio-based 3D printing materials |
Key Market Drivers | Increasing demand from various end-use industries |
The 3D Printing Plastics market forecast period is 2020-2027
The market is anticipated to register a CAGR of ~27.20% over the next ten years, according to the 3D Printing Plastics market research.
Asia-Pacific is expected to register the highest CAGR during 2020-2027
North America held the largest share in 2021
The major companies operating in the market include 3D Systems Corporation, Envisiontec Inc., Arkema Inc., Stratasys Ltd., SABIC, HP INC., Materialise NV, Eos GmbH Electro Optical Systems, PolyOne Corporation, Royal DSM N.V.