Home Industry 3D printing plastics market forecast to grow from $721 million to $1.9...

3D printing plastics market forecast to grow from $721 million to $1.9 billion by 2027

The “3D Printing Plastics Market by Type (Photopolymer, ABS, PLA, Polyamide), Form (Powder, Liquid, Filament), Application, End-User Industry (Aerospace & Defense, Healthcare, Automotive, Electronics & Consumer Goods) and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The 3D printing plastics market is estimated to be USD 721 million in 2022 and is projected to reach USD 1,907 million by 2027, at a CAGR of 21.5% between 2022 and 2027. The supportive initiatives undertaken by governments of different countries to support the adoption of 3D printing technologies in various industries is one of the most significant factors projected to drive the growth of the 3D printing plastics market.

Increased supply of 3D printing plastics due to forward integration of major polymer companies and mass customization are also contributing to the growth of the 3D printing plastics market. However, skepticism regarding acceptance of new technologies in emerging economies has affected the 3D printing plastics market adversely.

Initiatives are undertaken by governments

3D printing is being used in a wide range of industries around the world because it reduces operating time and costs while enabling mass production of goods. Governments from around the globe are taking steps to encourage the adoption of 3D printing plastics in a variety of industries. For instance, the Government of India’s Ministry of Electronics and Information developed a 3D printing policy in December 2020 to create a favorable environment for local firms.

Skepticism regarding the acceptance of new technologies

The rate of adoption of new technologies varies from one country to another depending on various macroeconomic factors such as GDP and the growth of industries contributing to the GDP of a country. activities for the development of new and innovative technologies. The lack of adoption of new technologies in emerging economies can be attributed to the dependence of industries defining GDP of these economies on the traditional occupations such as agriculture and raw material manufacturing. As such, technological trends such as 3D printing technology do not prevail in these regions.

Growing demand for composite grades

The growing adoption of 3D printing technology in commercial applications has led to the increased demand for composite grades of 3D printing plastics in various industrial applications across the globe. These grades offer optimum performance in extreme conditions such as corrosive and high temperature/pressure environments.

The major challenge for the 3D printing plastics market is the establishment of a particular structure for the mass production of specific commercial grades of 3D printing plastics. Manufacturers of these plastics require agile manufacturing systems for producing new grades of plastics using similar base materials to cater to the requirements of the changing 3D printing technologies.

Asia Pacific region expected to grow with the highest CAGR

The Asia Pacific is the fastest-growing market for 3D printing plastics globally. The region is projected to become a major supplier base for 3D printing plastics in the coming years. The 3D printing industry in Asia Pacific is largely concentrated in the Southeast Asian region, which is one of the leading markets for 3D printing in terms of industrial application.

The cost of raw material plastics is less in Asia Pacific due to their easy availability, which promises a high potential for the market growth in the coming years. This easy availability of raw material will also help the region to emerge as a global supplier of 3D printing plastics.

Companies Mentioned

  • 3D Systems Corporation
  • Arkema S.A.
  • Covestro Ag
  • CRP Technology S.R.L
  • E.I. Du Pont De Nemours & Company
  • Envisiontec GmbH
  • Eos GmbH Electro Optical Systems
  • Evonik Industries Ag
  • Formlabs, Inc.
  • Henkel Ag
  • Huntsman Corporation
  • Lehman & Voss & Co.Kg
  • Oxford Performance Materials, Inc
  • Sabic
  • Shenzhen Esun Industrial Co., Ltd.
  • Solvay S.A.
  • Stratasys, Ltd.
  • Ultimaker B.V.
  • Zortrax

View the full report here.
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