3D Printing Plastics Market – Overview
The versatility of plastic as a printing medium has boosted its application rate in the 3D Printing Market. The analysis revealed by MRFR states that the market will expand at a CAGR of 23.3% while achieving revenues worth USD 1,700 Million by the end of the forecast period. The increasing popularity of 3D printing technology in end-use industries such as automotive, science and industrial sectors is expected to modify the demand for the 3D Printing Plastic Market in the upcoming years.
The industrial advancements and forward integration of key polymer manufacturers is also adding to the growth trajectory that is being exhibited by the market. The rising demand being observed for composite grades of 3D printing plastic in several industrial applications is proving to be a positive influence on the development of the market. The amplifying demand for bio-based alternatives for 3D printed plastics is expected to boost the development of the market. The evolving 3D printing technologies and the increased production cost of commercial grades of 3D printing plastics may provide certain setbacks to the growth of the market. However, the lack of adoption of new technologies in emerging economies like Asia Pacific, Middle East & Africa and the environmental regulations related to the disposal of 3D Printed Plastic products might hamper the development of the market in the upcoming forecast period.
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The segmentation of the 3D Printing Plastics Market is carried out on the basis of Type, Form, Application, End-Use Industry and Region.
On the basis of Type, the market is segmented into acrylonitrile butadiene styrene, photopolymer, polyamide, polylactic acid among others. The photopolymer segment is accredited with the principal market share in 2017, and the polyamide segment is anticipated to be among the rapidly growing market throughout the forecast period.
Based on Form, the market is segmented into filament, powder, liquid and ink. The filament segment dominated the 3D Printing Plastics Market from 2017 and the powder segment is expected to record the highest CAGR in the approaching years.
On the basis of Application, the market is divided into prototyping and manufacturing. The prototyping segment controls the major market share in 2017 and the manufacturing segment is expected to develop at a high CAGR through the forecast period.
On the basis of End-Use Industry, the market comprises of Aerospace & Defense, Automotive, Healthcare, Electrical & Electronics. The healthcare segment of the market held the major market share from 2017 and is likely to expand at a high CAGR through the forecast period.
The Regions shaping the market’s growth are Asia Pacific, Europe, North America, Latin America, Middle East, and Africa.
Detailed Regional Analysis
The regional analysis of the 3D Printing Plastics covers regions such as Asia Pacific, Europe, North America, Latin America, Middle East and Africa. The North American region accounted for the largest market share in the printing plastics market due the presence of established competitors in the regions along with escalating demand for 3D Printed Plastics. The positive adoption rates of 3D printing technologies are projected to spur the growth of the market further. The Asia Pacific market is observed to be the fastest rising region in the 3D Printing Plastics Market in the forecast period. Improved demand stemming from end-user industries in the market is expected to push the development of the market in the upcoming period.
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The competition in the market is increasing steadily as new contenders are entering the market. The increasing popularity and demand for 3D printing on plastics is anticipated to modify the market favorably in the forecast period. The cost-effectiveness of 3D printing on plastic is expected to benefit the market’s expansion in the forecast period positively. Moreover, the innovations in the market are expected to reflect positively on the market’s progress in the coming years.
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 modify the market greatly in the forecast period.