3D Printing converts digital files into three-dimensional objects through a process called additive manufacturing. With the introduction of various polymers and materials, 3D printing technology is scaling new heights. 3D Printing of recycled plastics is a trend that is gaining huge traction amidst growing concern related to environmental degradation and sustainability goals. Market Research Future (MRFR) has thoroughly studied the trends and patterns governing the Global 3d Printing Plastics Market over the forecast period of 2017-2023 in an extensive study. MRFR has projected that the 3D Printing Plastics Market is likely to attain a valuation of USD 1700 Mn at a splendid CAR of 23.3% by the end of 2023.
Plastic is a highly versatile material due to which it finds extensive application as a 3D printing medium. They exhibit good chemical resistance, flexibility, abrasion resistance, ability to absorb shocks and rigidity. The manufacturing sector presents massive opportunities for the growth of the 3D Printing Plastics Market. 3D Printing Plastics Market derives massive growth from the manufacturing of various parts production such as functional parts, visual aids, and prototypes. They are highly preferred owing to the cost advantage they provide as compared to other materials. This is further complemented by the rapid increase in purchasing capacities of consumers across the globe.
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3D Printing Plastics are extensively used in the manufacture of gears, aircraft components, automotive parts, robotics, medical prostheses, and injection molds which induce high demand within the 3D Printing Plastics Market. Increasing demand for lightweight components across various industries has driven the market.
The availability of bio-based and recycled 3d Printing Plastics is expected to boost the growth of the market since they align with the regulatory requirements and sustainability measures. Advances in material science allow more agile designs and rapid product iterations.
On the contrary, the growth of the 3D Printing Plastics Market might be impeded by the high cost of production and low adoption rate in emerging economies. Moreover, environmental regulations surrounding the disposal of 3D Printed Plastic products may pose a challenge to market growth.
Competitive Landscape:
Arkema Group (France), Stratasys Ltd. (U.S.), BASF SE (Germany), SABIC (Saudi Arabia), DowDuPont, Inc. (U.S.), Clariant (Switzerland), Materialise (Belgium), CRP Group (U.S.), EOS GmbH Electro Optical Systems (Germany), ENVISIONTEC, INC. (Germany), Evonik Industries AG (Germany), 3D Systems, Inc. (U.S.), Royal DSM N.V. (The Netherlands), and HP Development Company, L.P. (U.S.) are distinguished players in the 3D Printing Plastics Market.
Industry Updates:
April 2019 - Nefilatek, a maker of eco-friendly 3D printing filament, has developed 3D printing filaments sourced from 100% recycled plastics.
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Segmentation:
The Global 3D Printing Plastics Market has been segmented based on Type, Form, Application, and End-Use Industry.
By Type, the 3D Printing Plastics Market has been segmented into acrylonitrile butadiene styrene, photopolymer,
polyamide, polylactic acid among others. The photopolymer segment dominated the market in 2017 and is expected to expand rapidly over the forecast period.
By Form, the 3D Printing Plastics Market has been segmented into filament, powder, liquid, and ink. The filament segment dominated the market in 2017 and is expected to capture the highest CAGR over the forecast period.
By Application, the 3D Printing Plastics Market has been segmented into prototyping and manufacturing. The prototyping segment led the market in 2017 while the manufacturing segment is expected to register the highest CAGR over the forecast period.
By End-Use Industry, the 3D Printing Plastics Market has been segmented Aerospace & Defense, Automotive, Healthcare, Electrical & Electronics. The healthcare segment accounted for the largest share of the market in 2017 and is likely to expand rapidly over the forecast period.
Regional Analysis:
By Region, the Global 3D Printing Plastics Market has been segmented into North America, Latin America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA).
North America is spearheading the Global 3D Printing Plastics Market. The presence of major key players in the region coupled with heightened demand for 3D printed plastics from various end-use industries is boosting the market growth. Moreover, rapid technological advances and the high adoption rate of such technologies is also favoring the growth of the market. Heightened demand for lightweight 3D printed plastics from the defense and aerospace industry in the region is a key growth enhancer.
The APAC 3D Printing Plastics Market is expected to showcase the fastest growth rate over the forecast period. Escalating demand from end-use industries which are witnessing continued progress is pushing the market further.
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