3D printing is an additive manufacturing process that produces an object by adding layers one at a time. 3D printers are vital to the production. A digital file containing the 3D model of the object is fed into the printer. The printer melts the material which maybe in the form of filament, powder or ink and creates the objects by adding a layer of the material one by one. The most commonly used materials are polymers, metals and ceramics.
The key players operating in the market are:
The global 3D Printing Plastic Market was valued at an average of nearly USD 810.0 million in 2020. The market is projected to expand at CAGR of above 24.6% from 2020 to 2027. At the end of 2027, its valuation is estimated to reach a little over USD 3780.8 million.
The outbreak of COVID-19 has created numerous opportunities for the 3D printing plastic market to flourish. The demand from the healthcare sector has significantly risen. Scarcity of medical components such as face shields, masks, ventilator vales, etc. has positively influenced the market. However, the cost of the printers may still restrict certain industries from investing into the market.
Market Driver: (Growing demand from various industries)
There has been an upsurge in the use of 3D printed plastic materials in medical devices such as knee, shoulder, hip and dental implants, etc. Since this technology is highly useful for the production of complex parts, it is widely used across the automotive and aerospace industry. Moreover, the benefit of mass customization is proving to propel the demand for 3D printing plastic materials in different sectors.
Market Restraint: (High cost of 3D printed plastic parts)
The initial cost of the equipment coupled with the minimum number of equipments required makes the procurement of 3D printers expensive. Furthermore, since these plastics are produced specifically for the 3D printing process, the cost is comparatively higher. Use of premium grade plastics or plastics with specific characteristics cause an exponential rise in the total cost. As a result, the overall cost of production is a major restricting factor that the 3D printing plastics market has to overcome.
Market Opportunity: (Demand from automotive and aerospace sector)
Continuous R&D in the automotive and aerospace field is anticipated to steadily augment the 3D printing plastic market. The ability of this technology to produce tools, prototypes, fixtures, and others will propel the market expansion.
Market Challenge: (Government regulations on the use of plastics)
The rising environmental concerns regarding the use of plastics may hinder the market growth of the 3D printing plastic market. Governments across the globe have implemented various regulations banning the use of plastic. Although these regulations have not yet created a decline in demand, it can pose a threat to the 3D printing plastic market.
Product Type: (Segments – Photopolymers, ABS & ASA, Polyamide/Nylon, Polylactic Acid, and Others.)
Photopolymers captured over 50% of the global 3D printing plastic market in 2019. Photopolymers are light-sensitive polymeric materials that change their physical and chemical properties when exposed to light. These are widely used in inkjets, polyjets, 3D jetter printing etc.
The polyamide segment of 3D printing plastic market is projected to grow at the fastest growth rate during the forecast timeline. Since, the material has a strong oxygen barrier property, it is suitable in combination with paper and is therefore rapidly gaining base in the market.
Form: (Segments – Filament, Ink and Powder)
The growing demand from industries such as food packaging, upholstery, garments and many more will drive the growth of the filament segment in the 3D printing plastic market. It alone accounted for nearly 70% of the market in terms of revenue in 2019.
3D printing inks segment is likely to register a significant growth rate during the forecast timeline due to rising R&D activities and an upsurge in investments for the development of smart inks. The development of low-cost inks is vital for commercial utilization.
End-use Industry: (Segments – Automotive, Medical, Aerospace & Defense, Electronics & Electrical and Others.)
Ease in customization and cost-effectiveness are the main commercial factors influencing the expansion of the 3D printing plastic market in the medical industry. Improved supportive technologies, government support and rapid product development are further boosting market expansion. Surge in the number of cases of vascular and osteoarthritis are fueling the augmentation. At the end of 2019, the medical industry garnered approximately 45% of the market revenue share.
Regional Analysis:
North America led the global 3D printing plastic market in 2019, garnering close to 40%. A technologically advanced 3D printing industry and a mature market has been instrumental in the development and progress of the market in the region. Polylactic acid is anticipated to grow at a steady and continuous rate while the filament produced from this acid is extensively used in various colours and blends. U.S. dominated the North American market largely due to the demand generated by the medical sector. Benefits such as bio-compatibility and optical clarity are projected to fuel the market’s growth in the medical sector.
The research report analyses the ecosystem of 3D printing plastic market and categorizes it to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
By Product Type
By Form
By End-Use Industry
By Region
Recent Developments
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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