3D Printing Plastics Market Growth Prospects, PESTLE Analysis & Application Outlook

Posted on 2022-05-25 by researchinsights in Industrial, Technology // 0 Comments

San Francisco, Calif., USA, Sept. 25, 2020 — /EPR Network/ —

3D Printing Plastics Industry Overview

The global 3D printing plastics market size was valued at USD 786.9 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 23.9% from 2022 to 2030.

Ease in customized product development, coupled with favorable government investments, is likely to augment the market growth over the coming years. In addition, the rising demand from the end-user industries such as automotive, medical, and aerospace & defense is likely to drive the market demand.

Gather more insights about the market drivers, restrains and growth of the Global 3D Printing Plastics Market

Recent developments in the additive manufacturing industry have created significant avenues for the automotive industry. It has facilitated the development of innovative, stronger, lighter, and safer components and parts with lesser lead times as well as costs. The OEMs mainly utilized 3D printing for rapid prototyping. Thus, the rising product demand in the automotive industry is expected to fuel the market growth in the coming years.

The demand for 3D printing plastics has considerably risen in creating prototypes over the past few years in the U.S. In addition, more manufacturers are expected to utilize additive manufacturing for high-volume production. Lucrative market opportunities prevail for the market in aftermarket applications as manufacturers are increasingly utilizing additive manufacturing technology to produce new components in the aftermarket industry.

Photopolymers are widely used in the 3D printing industry as they aid in easier customization and in producing products that are high in resolution. Additionally, the final product manufactured is eligible for an easier post-process, which includes painting, gluing, cutting, and others. Commonly used photopolymer 3D printing technologies utilized in the industry include SLA printing, DLA printing, MJM, and Polyjet. These photopolymers are increasingly used across industries including jewelry, medicine, and stomatology, and in creating prototypes for industrial uses.

Filament is increasingly used in the 3D printing plastics industry on account of its varied benefits, which include war resistance, high density, strong layer adhesion, odorless, and chemical resistance against alkali and acidic compounds. These extruded plastic filaments are vital in creating 3D printed parts and models.

3D printing plastics have created several significant transformations in the automotive manufacturing industry including products that are safer, cleaner, lighter, and in newer designs. Several OEMs utilize additive manufacturing in creating automotive prototypes as well as high volume direct manufacturing. Companies such as BORLA USA are indulged in manufacturing high flow bodies comprising plastic and aluminum. The company is primarily engaged in manufacturing stainless steel performance exhausts.

Browse through Grand View Research’s Bulk Chemicals Industry Related Reports

3D Printing Materials Market – The global 3D printing materials market size was estimated at USD 845.7 million in 2018, growing at a CAGR of 23.9% over the forecast period. Rising demand for 3D printing coupled with increasing demand for high-performance materials across various industries including aerospace and defense and automotive is projected to propel the market growth.
Medical 3D Printing Plastics Market – The global medical 3D printing plastics market size was valued at USD 265.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 26.2% from 2021 to 2028. The growing aging population, increasing healthcare awareness, and the COVID-19 pandemic situation are some of the major factors driving the market for medical 3D printing plastics.

Market Share Insights

August 2019: Materialise collaborated with Engimplan, a Brazilian manufacturer of orthopedic & craniomaxillofacial (CMF) implants and medical equipment. This collaboration was intended to expand the product portfolio of Materialise in Brazil with the introduction of 3D printed customized implants.

May 2019: Materialise collaborated with Essentium, HP, and Nikon to enhance connectivity and productivity in the manufacturing operations of additives. This collaboration was announced during the 3D printing and additive manufacturing event 2019 RAPID+TCT Conference and will help the adoption of 3D printed products in industrial manufacturers

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