3D Printing Plastics Market to Surpass 5.4 Billion by 2030 Drives Due to Increasingly Utilizing 3D Printed Parts
SkyQuest Technology Consulting Pvt. Ltd.
Updated 4 min read
SkyQuest Technology Consulting Pvt. Ltd.
SkyQuest projects that the 3D printing plastics market size will attain a USD 5.4 billion value by 2030, with a CAGR of 3.15% over the forecast period (2023-2030). The growing demand from a wide range of end-users drives the 3D printing plastics market growth. Industries such as aerospace, automotive, and military increasingly utilize 3D printed parts, which is expected to fuel the market's growth.
Westford, USA, June 27, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the demand for 3D printing plastics has grown significantly in the United States, particularly in creating prototypes. The advantages of 3D printing, such as faster production and cost-effectiveness, have made it a preferred choice for manufacturers. Moreover, an increasing trend of utilizing additive manufacturing for high-volume production indicates the potential for 3D printing plastics market expansion.
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Pages - 242
Tables - 122
Figures – 77
3D printing, also known as additive manufacturing, is a revolutionary process that enables the creation of three-dimensional objects from a digital file. It involves the layer-by-layer deposition of material to build the desired thing. Unlike traditional manufacturing methods such as injection molding and subtractive production, 3D printing offers several advantages, including faster production times and increased design flexibility. The demand for 3D printing plastics market is driven by the growing adoption of this technology across various industries.
Prominent Players in 3D Printing Plastics Market
Stratasys Ltd.
3D Systems Corporation
Materialise NV
Arkema SA
BASF SE
Dow Chemical Company
Evonik Industries AG
SABIC
EOS GmbH
Royal DSM N.V.
Clariant AG
CRP Group
Envisiontec GmbH
Solvay SA
Mitsubishi Chemical Corporation
HP Inc.
Henkel AG & Co. KGaA
Proto Labs, Inc.
Ultimaker BV
Formlabs, Inc.
Photopolymers Segment is Expected to Grow the Market Due to the Materials which Exhibit Light Sensitivity
The photopolymers segment emerged as the market leader, capturing over 58% of the global revenue in 2022. Photopolymers are liquid mixtures of monomers, polymer bases, oligomers, and photo initiators. These materials exhibit light sensitivity, allowing them to undergo physical and chemical changes when exposed to specific wavelengths of light. Ultraviolet (UV) rays typically initiate the reaction, triggering the transformation of the photopolymers.
The market in North America held a dominant position in the global 3D printing plastics market growth, capturing over 40% of the total revenue share. The region boasts the markets and is renowned for its technologically advanced 3D printing industry. North America has been leading in adopting and implementing innovative 3D printing technologies across various sectors, including aerospace, automotive, healthcare, and consumer goods.
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Filament Form Segment is Expected to Dominate the Market Due to its Rising Demand for Filaments in Various Industries
The filament form segment emerged as the market leader, capturing over 70% of the global revenue 2022. Filaments are manufactured and marketed in two standard diameters, 1.75mm and 3mm, making them compatible with a wide range of 3D printers. These filaments possess versatile properties that make them suitable for various industrial applications. The surge in demand for filaments is particularly notable in industries such as food packaging, tableware, upholstery, and disposable garments.
Regional markets in the Asia Pacific region are poised to experience significant growth in the 3D printing plastics market during the forecast period, driven by increasing demand from countries such as China, Japan, and South Korea. These countries are witnessing a surge in the adoption of 3D printing technology across various industries. The growth in end-use sectors such as healthcare and consumer products is expected to boost this region's market further.
A comprehensive analysis of the major players in the 3D printing plastics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the 3D Printing Plastics Market
Nexa3D and Henkel recently collaborated to introduce the commercial availability of xFLEX 475, a high-quality soft rubber component designed for additive manufacturing of industrial and consumer products. This collaboration leverages the expertise of both companies to accelerate the use of 3D printing for functional parts production across various industries.
In May 2022, Braskem, a leading producer of polyolefins and biopolymers in the Americas, announced the launch of three sustainable 3D printing filament products. These innovative filaments include organic Ethylene Vinyl Acetate (EVA) filament derived from sugarcane and recycled Polyethylene and Polypropylene (PE/PP) blended filaments, with or without the addition of carbon fiber.
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
