The global 3d Printing Plastics Market Size was valued at USD 782.36 million in 2021, and it is anticipated to reach USD 3954.37 million by 2030 at a CAGR of 22.45%. Plastic is a material that can be produced entirely of synthetic compounds or semi-synthetic compounds. These chemical substances have the quality of being malleable, which indicates that they can change form. Most plastics are artificial and, in most cases, originate from petrochemicals.
Compared to other traditional production techniques, additive manufacturing, also known as 3D printing, is recognized as being exceptionally effective. It expedites production by cutting down on time, labour, and money required for a specific project. In addition, it is not necessary to use specialized equipment to construct a prototype. Additionally, additive manufacturing frees geometries from a large number of tooling-related limitations. Recent advancements in the 3D printing plastics market on a global scale have made it possible for the automobile industry to explore new territories. It has begun the production of cutting-edge components and parts that are safer, lighter, stronger, and more innovative while having shorter lead times and lower pricing.
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Increased supply of 3D printing plastics as a result of forwarding integration of key polymer businesses
3D printing technology is currently among the most important disruptive technologies. It is steadily growing its clientele across various end markets, including electrical & electronics, automotive, healthcare, and aerospace & military. 3D printing materials like plastics are expected to rise in demand because of the increasing use of 3D printing technology in these industries. Initially, suppliers of 3D printing polymers were intermediated that added value to the items made possible by 3D printing technology. The demand for polymers for 3D printing was higher than these middlemen's supply capacity. Currently, however, there is a sufficient supply of 3D printing plastics to meet the rising demand from various businesses because there are more manufacturers of these materials across the world. In the past few years, polymer businesses like Arkema SA, Covestro AG, SABIC, Evonik AG, and Henkel have forayed into the market for 3D printing plastics. In the upcoming years, this is anticipated further to enhance the availability of polymers for 3D printing, leading to market expansion.
Increasing demand for additive manufacturing in the automotive industry driving the growth
Recent advancements in the field of additive manufacturing have made substantial new pathways available in the automotive sector. It has made it possible to build novel components and parts that are safer, stronger, and lighter while reducing the time needed to produce them and the prices involved. Rapid prototyping was accomplished mainly by the OEMs through 3D printing. As a result, the rise of the market is expected in the coming years due to rising product demand in the automotive industry.
In the past several years in the United States, there has been a significant increase in the demand for 3D printing polymers to be used to create prototypes. In addition, it is anticipated that many enterprises will implement additive manufacturing for high-volume production. Because more and more businesses in the aftermarket industry are turning to the technology of additive manufacturing to build new components, there are currently lucrative market opportunities in the aftermarket applications sector.
Growing demand in the 3D printing plastics market for bio-based grades of material
Some of the plastics that are used in 3D printing are made from natural materials like castor seeds, palm oil, and starches. Other natural materials include PA11, PA12, and PLA. Evonik AG intends to market a bio-based grade of PA12, which will be produced using palm oil as the raw material. It is anticipated that the development of bio-based grades of PA12 derived from palm oil will contribute to expanding the market for powdered 3D printing plastics worldwide. It is because palm oil is one of the primary raw materials for the bio-based PA12, an important type of 3D printing plastic. To secure the continued expansion of their agriculture industries, the governments of several nations that rely heavily on agriculture are encouraging the manufacturing of bio-based polymers. It is anticipated that this will boost the adoption of bio-based polymers for applications using 3D printing. In addition, it will provide makers of bio-based grades of 3D printing plastics with a strategic advantage if they choose to establish their manufacturing operations in such countries.
Environmental issues with the disposal of 3D-printed plastic goods
During the forecast period, rising environmental concerns about the disposal of plastic materials globally are anticipated to restrict the growth of the 3D printing plastics market. At first look, 3D printing seems to be a significantly more environmentally friendly production process than conventional subtractive techniques. 3D printers construct objects layer by layer, utilizing only the necessary quantity of material instead of carving out shapes from a single block of raw materials, which produces offcuts and waste. But when it comes to plastic waste, the accessibility of 3D technologies is a huge cause for worry. Rapid prototyping capabilities of 3D printers enable manufacturers to produce in-house, cutting turnaround times and costs; nevertheless, there are worries that this could increase the number of waste products on the market. Plastics used in 3D printing, primarily made of petroleum-derived components, must be appropriately disposed of to prevent environmental damage. Consequently, it is anticipated that in the long run, numerous environmental organizations from across the world will present regulatory obstacles to using 3D printing polymers in 3D printing technologies. Major polymer producers were encouraged to start researching and developing new biocompatible materials for 3D printing.
The global market for 3D printing plastics is segmented into four parts based on type, form, end-use and region. Further, the market is divided into Photopolymers, ABS & ASA, Polyamide/Nylon, Polylactic acid and Others. In 2021, the photopolymers market segment held the top spot and accounted for more than 55.0 per cent of worldwide sales. Monomer, polymer base, oligomer, and photoinitiator are all components of soluble liquid mixes known as photopolymers. Light-sensitive polymeric materials alter both their physical and chemical characteristics when exposed to light. The reaction is started by ultraviolet light, which also alters the characteristics of photopolymers. They are widely used in several printing techniques, such as 3D printing, polyjet, and inkjet printing.
Based on form, the market is divided into Filament, Ink and Powder. In 2021, the filament market segment held the market's top spot and accounted for more than 65.0 per cent of worldwide revenue. Only two diameters are available for manufacturing and marketing, 1.75mm and 3mm. Over the projection period, demand is anticipated to be driven by their adaptable qualities and a surge in demand from several application industries, including food packaging, dinnerware, upholstery, and disposable clothing.
Due to continuous research and development efforts and investments to create smart inks, 3D printing inks are predicted to experience a promising increase during the forecast period.
According to the end-user, the market is divided into Automotive, Medical, Aerospace & Defence, and Consumer Goods. In 2021, the market was led by the medical end-use segment, which brought in more than 45.0% of the globe's revenue. Cost-effectiveness, simplicity of customization, and rising rates of vascular and arthritic illnesses are major driving forces behind the medical industry's desire for 3D printed plastics. Additionally, it is anticipated that swift product development, favourable government assistance, and enhanced technology will drive increased product demand for medical applications.
The global market for 3D printing plastics is segmented into North America, Europe, Asia-Pacific, Central & South America, and the Middle East & Africa. North America dominated the region.
The global market for 3D printing plastics is segmented into North America, Europe, Asia-Pacific, Central & South America, and the Middle East & Africa.
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In 2021, North America dominated the market and generated more than 40.0 per cent of worldwide sales. The region has developed marketplaces and a highly developed 3D printing sector, both of which have a substantial impact on market growth. In the North American market, polylactic acid (PLA) is anticipated to grow at a favourable rate. Due to its availability in a wide range of hues and blends, PLA-derived filament is frequently employed in various application fields. Additionally, it makes the finished printed product seem better and simpler to utilize.
In 2021, the U.S. will dominate the North American market, and it is anticipated that it will keep that position during the projected period. Due to the growing geriatric population in the nation, the demand for 3D printing plastics is mainly driven by the expanding medical end-use market. The mechanical and chemical qualities provided by 3D printed plastics are a contributing factor in the rising demand for these materials in medical equipment. The demand for products in the healthcare sector is anticipated to be driven by biocompatibility, optical clarity, and cost-effective manufacturing techniques. Additionally, the steadily growing patient population brought on by the COVID-19 outbreak at the community level is anticipated to drive the demand for medical components and consequently increase the demand for 3D printing plastics in the United States.