"The 3D printing plastics market is anticipated to increase as a result of the active three-dimensional printing R&D as well as the rising preference for prototype applications from different industrial verticals."
PUNE, India , Aug. 22, 2022 /PRNewswire/ -- Plastic is a material that is made of synthetic or semi-synthetic compounds. These compounds have the property of being malleable, i.e. they are capable of changing their shape. Most plastics are synthetic and are commonly derived from petrochemicals.
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The global 3D printing plastics market is expected to reach a market valuation of USD 2.39 billion by the year 2021, accelerating with an impressive CAGR of 25% by 2022-2029. The 3D printing market share is anticipated to be valued at about USD 17.81 billion by 2029.
The 3D printing materials market drivers include the increasing demand from various end-users. The market is expected to advance due to the rising use of 3D printed parts in aerospace, automotive, and military applications. 3D printing technology has turned out to be a highly useful technology for manufacturing parts with intricate designs. The advanced technology is helping manufacturers to produce innovative products and launch them in the market. Moreover, accessible raw materials are also available in multiple regions. These two major factors are creating excellent opportunities for the 3D printing plastics market.
In March 2022 , 3D Systems, the leading additive manufacturing solutions provider, and the Saudi Arabian Industrial Investments Company (Dussur) have signed an agreement intended to expand the use of additive manufacturing (AM) within the Kingdom of Saudi Arabia and surrounding geographies, including the Middle East and North Africa .
In March 2022 , Evonik launched VESTAKEEP iC4800 3DF, a new osteoconductive PEEK filament for 3D printed filaments during the AAOS trade show in Chicago , USA .
In March 2022 , the specialty chemicals company Evonik and Australia's 3D printer manufacturer Asiga announced their collaboration in photopolymer-based 3D printing. Both companies aim to drive forward 3D printing large-scale industrial manufacturing by extending today's capabilities of photo-curing technologies.
In February 2022 , 3D Systems announced that it has entered into an agreement to acquire Titan Additive LLC (Titan Robotics), the Colorado -based designer and fabricator of large-format, industrial 3D printers. With this acquisition, 3D Systems will expand the strength and breadth of its polymer AM solutions portfolio to address new applications in markets such as Foundries.
North America accounted for the largest share of the 3D printing Plastics Market in 2022
In the year 2022, North America dominated the global 3D Printing Plastic market and generated more than 36% of worldwide revenue. This is a result of additive manufacturing being widely adopted by the industries in the US and Canada in a variety of manufacturing processes.
3D Printing Plastics Market Report Scope
Volume in tons, revenue in USD million, and CAGR from 2022 to 2029
Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, form, end use, region
North America; Europe; Asia Pacific; Central & South America; MEA
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; China; India; Japan; South Korea; Brazil; Argentina; South Africa; Saudi Arabia
3D Systems Corporation, Stratasys, Ltd., Arkema SA, BASF SE, Evonik Industries AG, SABIC, HP Inc., DowDuPont Inc., Royal DSM N.V., EOS GmbH Electro Optical Systems, Clariant International Ltd., CRP Group, Envisiontec GmbH, Materialise NV, and Oxford Performance Materials Inc.
3D Printing Technology is developing rapidly with the introduction of different types of polymers and materials
Customization scope - Pricing and purchase options
The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel.
Key Drivers and Restraints of 3D Printing Plastic Market
Rise in demand for 3D printing plastic among manufacturing and production companies is anticipated to propel the global 3D printing plastic market. High rise in demand for 3D printing plastic in sectors such as electrical & electronics, aerospace & defense, and health care is estimated to augment the global 3D printing plastic market. Rise in usage of these plastics in medical devices, orthopedic and orthodontics surgical implants such as knee implants, shoulder implants, hip implants, and dental implants of various types is likely to drive the global 3D printing plastic market during the forecast period.
Rise in demand for laser technology in various sectors and increased support from commercial sectors are expected to fuel the demand for 3D printing plastic.
Various governments are banning the usage of plastic. This is likely to hamper the market. Nonetheless, wide commercial and general usage of 3D printing plastic is projected to boost the global market in the near future.
Competition in the 3D Printing Plastic business is based on the product quality given and the technology employed by producers in the production of 3D Printing Plastic. To reduce the risk of entering a new market, major businesses compete based on their application development capabilities and build strategic collaborations with regional players.
The key companies operating in the 3D printing plastics market include 3D Systems Corporation, Stratasys, Ltd., Arkema SA, BASF SE, Evonik Industries AG, SABIC, HP Inc., DowDuPont Inc., Royal DSM N.V., EOS GmbH Electro Optical Systems, Clariant International Ltd., CRP Group, Envisiontec GmbH, Materialise NV, and Oxford Performance Materials Inc.
https://exactitudeconsultancy.com/reports/5451/3d-printing-plastic-market/
Key Market Segments: 3D Printing Plastic Market
3D Printing Plastic Market by Type, 2022-2029, (USD Million)
3D Printing Plastic Market by Form, 2022-2029, (USD Million)
3D Printing Plastic Market by End User, 2022-2029, (USD Million)
Medical (Prosthetics & Implants, Surgical Instruments)
3D Printing Plastic Market by Region, 2022-2029, (USD Million)
Existing Challenges for the 3D Printing Plastic Market Future Trends
The installation and maintenance cost of the prototypes is the major challenge for the 3D printing market growth as pointed out by most industry experts. Instead of attempting to comprehend the cost expenditure benefits of prototype, businesses engaged in design, particularly small and medium-sized businesses, are hesitating for investing in 3D printers for sale.
The adoption of 3D printing is being hampered by the widespread assumptions small and medium-sized firms have about the additive manufacturing procedures. In addition, lack of technical expertise and knowhow and an impending lack of standardized quality control measures, are anticipated to restrain the 3D printing industry expansion.
3D Printing Plastics Market Dynamics
Driver: Increased supply of 3D printing plastics due to forward integration of major polymer companies
3D printing technology is regarded as one of the most important disruptive technologies of our time. Its customer base is constantly expanding in industries such as aerospace and defence, healthcare, automotive, and electrical and electronics. Increased use of 3D printing technology in these industries is expected to contribute to increased demand for 3D printing materials such as 3D printing plastics.
Restraint: Environmental concerns regarding the disposal of 3D-printed plastic products
Global environmental concerns about the disposal of plastic materials are expected to limit the growth of the 3D printing plastics market during the forecast period. At first glance, 3D printing appears to be a far more environmentally friendly manufacturing technique than traditional subtractive methods. Instead of sculpting from a single block of raw material, which results in offcuts and waste, 3D printers build objects layer by layer, using only the material needed. However, when it comes to plastic pollution, the accessibility of 3D technologies is a major source of concern.
Opportunity: Increasing demand for bio-based grades of 3D printing plastics market
Some 3D printing plastics, such as PA11, PA12, and PLA, are made from natural materials such as castor seeds, palm oil, and starches. Evonik AG intends to introduce a bio-based grade of PA12 derived from palm oil. Because palm oil is a major raw material for bio-based PA12, a powdered 3D printing plastic, the development of bio-based grades of PA12 from palm oil is expected to contribute to the global growth of the 3D printing plastics market.
Challenge: High manufacturing costs of commercial grades of 3D printing plastics
Due to several value additions to the base materials used in their production, commercial grades of 3D printing plastics have high raw material costs. The production line for the distribution of raw materials used in the development of commercial grades of 3D printing plastics is still being established in emerging economies. Furthermore, when combined with base materials, value-added materials such as carbon fiber and alumina are expensive.
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3D Printing Material Market Share
The Global 3D printing material Market is expected to grow at more than 23% CAGR from 2019 to 2028. It is expected to reach above USD 6 billion by 2028 from a little above USD 2 billion in 2019.
Dental 3D Printing Market Growth
The global Dental 3D Printing Market is expected to grow at 20.25% CAGR from 2022 to 2029. It is expected to reach above USD 11.63 billion by 2029 from USD 2.24 billion in 2020.
3D Printing Construction Market Trends
The global 3D Printing Construction Market is projected to reach USD 6554.49 million by 2029 from USD 503.35 million in 2020, at a CAGR of 33% from 2022 to 2029.
The global 3D Concrete Printing Market is projected to reach USD 6503.84 Million by 2029 from USD 730.43 Million in 2020, at a CAGR of 27.5% from 2022 to 2029.
Media contact: Irfan Tamboli , sales@exactitudeconsultancy.com +91-7507-07-8687
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