Rising demand for bio-based grades of 3D printing high-performance plastics and the growing penetration of these materials in functional part production is leading the market growth
Category: Chemicals & Materials Published Date : May 2022 ID: CVC-00101-C Format: PDF Pages: 325
3D Printing Polymers Market Size Analysis
According to a research analysis conducted by ChemView Consulting, the worldwide 3D printing Polymer is expected to increase at a CAGR of 19.2% between 2022-32, from USD 802.1 Mn in 2022 to USD 3,269.1 Mn in 2030. During the forecast period of 2022 to 2030, the market is estimated to increase due to rising demand for bio-based grades of 3D printing high-performance plastics and the growing penetration of these materials in functional part production.
The rising demand from various end-users is one of the main drivers for 3D printing materials. The growing usage of 3D printed parts in aerospace, automotive, and military applications will likely propel the industry forward. 3D printing has shown to be an extremely beneficial technique for producing intricately designed items. Designers may use 3D printing to manufacture sophisticated pieces at a reasonable cost and manufacturing potential. Titanium parts are commonly 3D printed in the aerospace sector because it has excellent dimensional accuracy and mechanical qualities.
The automobile industry’s expansion is expected to maintain demand for 3D printing polymers high in the coming years. Rapid advancements in various materials and technologies are aiding the market’s growth. Furthermore, the potential to employ additive manufacturing to create tools, prototypes, fixtures, and other final items will increase the need for 3D printing plastics. The market demand is predicted to increase due to the factors mentioned above.
Why is Acrylonitrile butadiene styrene (ABS) expected to grow at a high CAGR in the 3D Printing Polymer market?
ABS dominates the 3D-Printing polymers Market. ABS filament, an impact-resistant engineering thermoplastic, and the amorphous polymer is one of the most commonly used 3D printing polymers. ABS is suitable for use in various industries, including automotive, electronics, building and construction, and many more, due to properties such as high impact strength and heat performance.
It is commonly used in the bodywork of automobiles, appliances, and mobile phone cases. It is a thermoplastic with a base of elastomers based on polybutadiene, which makes it more flexible and shock-resistant. ABS is finding new applications in the electronics industry, where it is used in business machines, computers, radios, televisions, and phone handsets.
And the 3D-printing polymer market is rapidly expanding in the automotive sector. It is used in instrument panels, consoles, radiator grills, headlight housings, and interior trim parts, growing use in recreational vehicles.
Why is the Modeling and Prototyping application expected to hold the largest market share in the forecast period?
Modeling and prototyping held the largest share of the 3D-Printing Polymers Market in 2021, accounting for 33%. The digital prototyping solutions from 3D Systems have made turning a design into a physical object faster and more affordable. The digital prototyping solutions from 3D Systems provide a streamlined workflow to advance and accelerate your projects. 3D printing technology significantly reduces the lead times required in traditional manufacturing, allowing a prototype to be built in hours rather than weeks and at a fraction of the cost.
The automotive and aerospace industries are just two examples of sectors benefiting from advances in 3D printing technologies. 3D printing allows for the low-cost production of a product in much smaller quantities. In the same vein, advances in rapid prototyping (R.P.) technology have led to the development of materials and processes suitable for producing a product’s final version, not just its prototype. The advanced technology increases the demand for 3D-printing polymers and is expected to accelerate the sector’s growth.
Why does Asia-Pacific account for the largest market share in the 3D Printing Polymer market?
In 2021, the Asia Pacific region held the largest share of the 3D-Printing Polymers Market, accounting for up to 32%, followed by North America and Europe. The growing interest from APAC manufacturing companies and the implementation of numerous government-led strategies and policies have enabled many countries to thrive in developing a sustainable additive manufacturing (AM) ecosystem. The Asia-Pacific market is based on its reach in China, Japan, India, Singapore, Australia, South Korea, and the rest of Asia Pacific.
Following the rapid rise of 3D printing in the Asia Pacific, Japan and China have emerged as significant forces, owing to the Chinese government’s support of 3D printing strategies and fiscal support. Furthermore, the Ministry of Electronics and Information Technology (MeitY) intends to develop a domestic AM industry with an annual average growth rate of 30% or higher, with a value exceeding US$ 3 billion by 2020. The plan prioritizes the completion of 100 pilot projects across ten key industries and the formalization of these technologies.
Furthermore, the arrival of several players in 3D printing and technological advancements and research in Japan has helped both countries become leaders in the 3D printing polymer domain. According to the International Development Corporation (IDC), Asia Pacific’s AM spending in 2019 is expected to be US$ 3.8 billion, trailing the U.S. and Western Europe, which account for nearly two-thirds of the overall market (US$ 8.6 billion). China accounts for half of the Asian market, while Japan, South Korea, and ASEAN account for 30 percent, 10-12 percent, and 5-7 percent, respectively, with India and Australia accounting for 3-5 percent each.
To remain competitive in the industry, key market players are investing in expanding their market footprint. Several vital players invest a fair share of their revenue in research and development in boosting their product portfolio. Market participants focus on technological development and utilizing a product in several applications.
Some of the key developments that have taken place in the 3D Printing Polymer market include:
A list of some of the key players present in the market are:
Market Segments Covered in Report
By Material Type:
By Production Process:
By End-use Industry:
By Region and Country:
Global 3D Printing Polymer Market 2022-2030: Report Coverage and Highlights
|Historical Data Available for||2017-2021|
|Market Analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key Regions Covered||North America, Latin America, Europe, Asia-Pacific, Middle East, Africa|
|Key Countries Covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key Segments Covered||Material Type, Form, Production Process, Application, End-Use Industry, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
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