The global 3D printing plastics market size was valued at USD 1.26 billion in 2022. The market is projected to grow from USD 1.55 billion in 2023 to USD 7.46 billion by 2030, exhibiting a CAGR of 25.1% during the forecast period.
3D printing technology is used to build three-dimensional objects by layering material in a digital design or model. The 3D printing plastics model is digitally divided into horizontal layers by using specialized software, creating sets of instructions for the 3D printer. The versatility of 3D printing plastics increases their use in various applications such as automotive, consumer products, and healthcare, driving growth.
Fortune Business Insights™ mentioned this in a report titled, “3D Printing Plastics Market, 2023-2030.”
COVID-19 Impact
Need to Increase Production Line of Medical Devices During Pandemic Boosted Market Growth
The market observed slow growth in 2021 due to the shutdown of operations of several 3D printing materials manufacturing units caused by the pandemic. To fill the gap and increase the medical devices production line, the increased focus of manufacturers on 3D printing technology aided the 3D printing plastics market growth.
Source- https://www.fortunebusinessinsights.com/3d-printing-plastics-market-108834
Segments
Polylactic Acid Segment to Lead Owing to its Unique Qualities
By type, the market is divided into Polylactic Acid, ABS, Polyamide, Polycarbonate, and others. The Polylactic Acid segment held the largest 3D printing plastics market share in 2022 and is also the fastest-growing segment in the market. The growth is attributed to the use of Polylactic Acid in different applications owing to its unique properties.
Growing Adoption and Utilization of 3D Printing Technologies to Aid Aerospace & Defense Segment Growth
Based on end-use industry, the market is segmented into automotive, aerospace & defense, healthcare, electronics & electrical, consumer goods, and others. The aerospace & defense segment held the largest market share. The growth is attributed to the growing adoption and utilization of 3D printing technologies, especially with different plastic types, owing to customization, precision, and weight-saving capabilities.
Report Coverage
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Rising Technological Innovations in 3D Printing to Boost Market Growth
The increasing technological innovations in 3D printing, printer capabilities, and materials boost the 3D printing plastics market growth. The advancements in multi-material capabilities, speed, and precision are expanding the 3D printing applications with plastics.
However, meeting the safety and quality standards of the healthcare and aerospace industries and obtaining certifications for 3D-printed parts can be challenging and may impede market growth.
Regional Insights
Rising Demand for Commercial Aerospace Products to Drive Market Growth in North America
North America held the largest 3D printing plastics market share and accounted for USD 0.51 billion in 2022. The growth was attributed to the demand for commercial aerospace products, including passenger aircraft, in the region.
Asia Pacific accounted for a significant market share. The growth is attributed to the fast-growing manufacturing industries, including automotive and consumer goods in the region.
Competitive Landscape
Strong Regional Presence of Key Players to Propel Market Growth
The leading market players’ strong geographical presence, product offerings, and distribution channels boosts the market growth. The engagement of the key market players in research and development to provide enhanced features and produce superior quality to drive market expansion.
Key Industry Development
October 2023 – Evonik launched a new grade of 12 Polyamide powders to unbound 3D printing on the bio circular raw materials. The launch is the first Polyamide power material produced for industrial uses that replaces 100 percent of fossil feedstock with bio-circular material.
List of Key Players Present in the Report:
HP Development Company, L.P (U.S.)
Evonik Industries AG. (Germany)
Stratasys (U.S.)
3D Systems, Inc. (U.S.)
Arkema S.A. (France)
Henkel Corporation (Germany)
EOS GmbH Electro Optical Systems (Germany)
Solvay S.A.(Belgium)
Huntsman Corporation (U.S.)
SABIC (Saudi Arabia)
What are the main facts mentioned in this report on the 3D Printing Plastics Market?
Research Approach:
The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model’s parameters. The report emphasizes macroeconomic indicators, trends within the parent market, and growth drivers. A comprehensive understanding of the market is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and market segments is established using both bottom-up and top-down methodologies.