The 3D Printing Plastics Market size was valued at USD 698.24 million in 2022 and is estimated to reach close to USD 1966.3 million by 2028, expanding at a whopping CAGR of around 28.3% during the forecast period.
3D printing or additive making is known to be highly efficient when compared to several other conventional making methods. It enables production by reducing time, effort, and prices incurred in a project. Furthermore, it does not even need specialized tooling to create a prototype. Additive making also avoids many tooling-related constraints for geometries. Recent developments in the global 3D printing plastics market have opened new avenues for the automotive business. It has started the construction of innovative, stronger, lighter, and safer components and parts with lesser lead times as well as prices.
The mounting integration in industrial applications, mass customization related to 3D printing, and government research and development support are among the primary drivers of positive expansion for the worldwide 3D printing plastics business. The swift acceptance of additive material making in North America and Europe is owing to the high call for 3D printing materials. Also, the request is driven by the emergence of a robust aerospace business and the fast growth of the automotive market that utilizes and the rapid growth of the automotive industry that uses part-producing printing materials. Rising spending by doing business around the globe for research and development purposes has a positive effect on 3D printer sales, hence fuelling the call for 3D printing materials. In addition to that, the adoption of the latest technologies like Graphene Open-up new applications and creates more opportunities for the advancement of the market.
The disadvantage of 3D printing material is that the products made are very less durable than all those produced by conventional casting and molding techniques. Environmental concerns relating to the employment of plastics are one of the key restraints for the market.
The growth of the automotive business is poised to keep the demand for 3D printing plastics at its peak over the future years. Fast developments in different materials and technologies are assisting the market to gain traction. In addition to that, the ability to produce tools, prototypes, fixtures, and other finished products through the use of additive manufacturing will further boost the call for 3D printing plastics.
The products employed for 3D printing technology have an excellent barrier in the call for 3D printing materials.
Market Size Available
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Market Leaders Profiled
3D Systems Corporation (US), Stratasys, Ltd. (US), Arkema SA (France), BASF SE (Germany), Evonik Industries AG (Germany), SABIC (Saudi Arabia), HP Inc. (US), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), Electro-Optical Systems GmbH (Germany), Clariant International Ltd. (Switzerland), CRP Group (US), Envisiontec GmbH (Germany), Materialise NV (Belgium), and Oxford Performance Materials Inc. (US).
Middle East & Africa
North America accounts for the leading portion in the global 3D printing plastics market. The surge in need for metal goods segments in Aviation, defence and automotive drives the market for the North American 3D printing materials market. Europe and the Asia Pacific are likely to overtake North America to see the quickest expansion speed for the demand for 3D printing materials. At present, the U.S., European Union nations, Asia Pacific, Japan, Brazil, China, and Africa are estimated to enhance making technology and decrease overall product prices expected to boost the demand for the global 3D printing plastics market.
The 3D printing plastics market in the Asia Pacific region is estimated to showcase the highest CAGR between 2020 and 2025. North America and Europe are expected to remain the critical markets for 3D printing plastics, due to the significant presence of the aerospace & defense and healthcare businesses that are the key end-users of 3D printing plastics. The expansion rate in the Asia Pacific is estimated to be very high during the foreseen period while underdeveloped countries are expected to showcase higher penetration fueling the 3D printing plastic materials market. China and South Korea are the prominent regions for supplying 3D printing plastic materials in the APAC region.
Huntsman Corp. is highlighting its developments in additive manufacturing technology with the introduction of Iroprint materials, present in the form of filaments, powder and resin. Developed in close collaboration with crucial unnamed footwear and sportswear manufacturers, the thermoplastic polyurethane material is easy to print with the added advantage of being soft and flexible.
Stratasys has introduced a new line of thermoplastics that are durable, temperature, and chemical resistant, which are used for 3D printed tooling and production-grade components. According to Stratasys' Vice President, the materials have been developed to combat the challenges faced by designers and engineers to find ample materials to match the needs of manufacturing-based applications. These thermoplastics can remove barriers to accelerate the adoption of 3D printing technology in manufacturing settings, facilitating users to design and create faster products, while minimizing costs related to traditional approaches."
CRP Group, which makes 3D printed plastic composite components, has invested in new machines for additive manufacturing (AM), CNC machining and direct metal laser sintering (DMLS). The first machine is the RICOH AM S5500P laser sintering system for the 3D printing of functional prototypes and end-use parts. The device is a multi-material 3D printer with a large modeling area (550x550x500 mm) which enables it to manufacture many components at once.
Some of the major players operating in the global 3D printing plastics industry are
1) 3D Systems Corporation (US)
2) Stratasys, Ltd. (US)
3) Arkema SA (France)
4) BASF SE (Germany)
5) Evonik Industries AG (Germany)
6) SABIC (Saudi Arabia)
7) HP Inc. (US)
8) DowDuPont Inc. (US)
9) Royal DSM N.V. (Netherlands)
10) Electro-Optical Systems GmbH (Germany)
11) Clariant International Ltd. (Switzerland)
12) CRP Group (US)
13) Envisiontec GmbH (Germany)
14) Materialise NV (Belgium)
15) Oxford Performance Materials Inc. (US)
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