Market Insight:
The role of 3D Printing Technology is vital and is developing rapidly with the introduction of various types of polymers and materials from printing purposes. Market reports associated with chemical and Material Industry have been presented by Market Research Future. It states that the Global 3D Printing Technology is anticipated to reach a valuation of USD 1,700 Mn at a CAGR of 23.3% during the forecast period of 2017-2023. Later in 2017, the market was valued USD 530.5 Mn in 2017.
The extensive demand for 3D printing as prototypes or additive under the control of computers is observed in various end-use industries. These factors are remarkably contributing to the expansion of the market over the forecast period.
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Key Players:
The market contenders such as 3D Systems, Inc. (US), BASF SE (Germany), Stratasys Ltd. (US), Royal DSM N.V. (The Netherlands), SABIC (Saudi Arabia), Evonik Industries AG (Germany), EOS GmbH Electro Optical Systems (Germany), HP Development Company, L.P. (US), Materialise (Belgium), Clariant (Switzerland), DowDuPont, Inc. (US), CRP Group (US), Arkema Group (France), ENVISIONTEC, INC. (Germany), and Oxford Performance Materials (US) are expected to develop the market significantly in the forecast period.
Industry News:
25 July 2019: Belfast based medical 3D printing firm, axial 3D, has raised $3M to support the company’s expansion into the United States (US) through a funding round.
Market Drivers & Trends:
The elevating demand observed for 3D Printing Plastics components for various purposes such as casting, fabrication, and manufacturing of various objects is creating significant traction for the growth of the market during the assessment period. The ongoing industrial advancements and integration of crucial polymer manufacturers are also to bolster market growth.
The rise in the demand for 3D Printing Plastic is spurred by composite grades that are found in several industrial applications. Apart from this, the demand from bio-based alternatives for 3D Printing Plastic is also escalating the market growth in remarkable ways.
On the other hand, factors such as the evolving 3D printing technologies and the increased cost of production of commercial grades of 3D Printing Plastics could provide inevitable setbacks to the growth of the Global 3D Printing Plastics Market over the assessment period. On the flip side, factors such as lack of adoption of new technologies mainly in evolving region such as Asia Pacific, Middle East & Africa and the environmental regulations associated with the disposal of 3D Printed Plastic products could hinder the development of the market during the forecast period.
Market Segmentation:
The segmentation of 3D Printing Plastics Market is carried out based on Type, Form, Application, and End-Use Industry.
In terms of Type: Includes acrylonitrile butadiene styrene, photopolymer, polyamide, polylactic acid many others. Among these, the photopolymer segment was attributed with the principal market share in 2017, and now it is anticipated to be among the rapidly growing markets throughout the forecast period.
In terms of Form: Includes segments such as filament, powder, liquid, and ink. Of them, the filament segment led the 3D Printing Plastics Market from 2017, whereas now the powder segment is anticipated to record the highest CAGR in the impending years.
In terms of Application: Includes prototyping and manufacturing segments, where prototyping segment had major control over the year 2017. Currently, the manufacturing segment is bolstering to develop at a higher CAGR in the foreseen years.
In terms of End-Use Industry: Includes segments of Aerospace & Defense, Automotive, Healthcare, Electrical & Electronics. Among these, the healthcare segment held the significant market share from 2017 and is likely to expand at a high CAGR during the forecast period.
Detailed Regional Outlook:
The Key Regions shaping the Global 3D Printing Plastics Market growth are Asia Pacific, Europe, North America, Latin America, Middle East, and Africa.
Among them, the North American region attributed having the largest market share in the printing plastics market owing to the established competitors in the region along with wide demand for 3D Printed Plastics. Also, the positive adoption activities for 3D printing technologies project the rate of market growth in this region.
The Asia Pacific market has also observed to be the fastest-growing region in the 3D Printing Plastics Market in the forecast period. The escalating demand is stemming from end-use industries in the market, which is pushing the development of the market in the approaching years.
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