The global 3D Printing Plastics Market size is likely to reach USD 1.98 billion by 2025, according to a new study by Grand View Research, Inc., rising at a CAGR of 24.9% during the forecast period. Spiraling demand for 3D printing plastics, particularly from the medical and aerospace & defense industries, is anticipated to contribute to the growth of the market during the forecast period.
The 3D printing plastics market is benefitting from favorable government support in key economies such as the U.S. and China. 3D printed products assist significantly in attaining economies of scale through consumption of lesser lead time, reduced costs, and mitigated risks.
3D plastics also allows easier customization as per consumer needs. Thus, there is an upsurge in the demand for 3D printing plastics from various end use industries such as automotive, medical, and electrical & electronics.
Adoption rate of 3D printing is poised to witness sharp rise across several new end user industries, which in turn is expected to lead to higher demand for printing materials such as plastics. Functional prototyping, tooling, and designing have enabled extensive applications of 3D printing across newer application areas.
Consumer goods is emerging as a significant application of 3D plastic products on account of reduced lead time offered by additive manufacturing techniques. Innovative additive manufacturing solutions enable production of designer parts with complex geometries, thus, facilitating manufacturers to cater to rising consumer needs for personalized parts. Photopolymers was the dominant plastic segment in terms of both revenue and volume in 2017.
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Heightened demand for photopolymers can be attributed to high consumption in production of industrial prototypes through the utilization of SLA technology. Polyamide/Nylon is estimated to experience the fastest growth rate during the forecast period on account of rising demand from both domestic as well as commercial applications. Use of polyamide/nylon is accompanied by laser sintering technology.
Further key findings from the report suggest:
- North America will be the dominant regional market in the global arena in terms of revenue throughout the forecast period, while Asia Pacific is projected to register the highest CAGR of 26.7% during the same period. Favorable government policies in Asia Pacific region particularly in China and India are likely to drive market growth
- Photopolymers was the largest type segment in the global 3D printing plastics market in 2017. Photopolymers are used extensively across several end-user industries as it acts as a binder, additive, colorant, plasticizer, and chemical agent in the 3D printed product
- In April 2018, 3D Systems Corporation participated in RAPID+TCT 2018 held in the U.S. Product portfolio of the company consisted of several solutions, which would aid manufacturers in switching from prototyping to production and to recognize their competitive advantages. Figure 4™ platform demonstrates optimum throughput and accuracy necessary for production of plastic part.
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Grand View Research has segmented the global 3D printing plastics market on the basis of type, form, application, and region:
3D Printing Plastics Type Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
- ABS & ASA
- Polylactic acid
3D Printing Plastics Form Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
3D Printing Plastics Application Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
- Aerospace & Defense
- Consumer Goods
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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