In 2019, the United States led the North American region, and it is projected to remain its control during the forecast period 2022-2029. The increasing aging population in the country and rising end-user medical segments are significantly driving the demand for the 3d printing plastics market in the United States.
3D Printing Plastics Market Outlook Analysis 2022-2029:
According to the research report published by DataM Intelligence, the global 3D Printing Plastics Market size was valued at USD 0.7 billion, it is projected to reach USD 5.4 billion by the end of 2029, with growth at a CAGR of 21.2% during the forecast period 2022-2029.
Market Growth Drivers:
3D printing is showing huge demand in the global 3D Printing Plastics Market, it is hugely effective as related to several further traditional manufacturing processes. This process allows manufacturing by minimizing the efforts, time consumption, and cost-effectiveness in the production process.
Furthermore, increasing demand from End-user such as medical, aerospace and defense, and automotive are probably to push the demand for the market. The 3d Printing industry has produced a lot of opportunities for the automotive industry due to the new technology and recent developments.
3d printing applications are enhancing the global market. This 3d printing technology is heavily used to produce musical instruments, building parts, car components, shoes, medical devices, dental implants, functional ceramics, jewelry, prosthetics, and robots. Increasing funds in the above business parts combined with favorable administrative support are probably to profit from the global demand growth for 3d printing plastics.
Regional and Country Level Insights:
Geographically, the global market is divided into majorly five regions North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Regionally, the North American region is divided into the United States and Canada. North America 3D Printing Plastics Market registered for the controlling position in the global market, due to the increase in the need for metal goods segments in Automotive, defense, and aviation boosting the growth of the North American market.
In 2019, the United States led the North American region, and it is projected to remain its control during the forecast period 2022-2029. The increasing aging population in the country and rising end-user medical segments are significantly driving the demand for 3d printing plastics in the United States.
The Asia Pacific and Europe regions are probably to surpass the North American market to show the fastest growth in the 3d printing plastics market. As of now, US, Asia Pacific countries such as Japan, China, European nations, brazil, and Africa are expected to develop making technology and reduce complete product costs projected to drive the demand for the global 3D Printing Plastics Market.
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The global market is segmented into the following;
The filament segment controlled the global market and registered a high share of the global revenue.
- Poly Amide
- Photo Polymer
- Polylactic Acid
- ABS and ASA
- Others (PET, PC)
Poly amide is expected to enhance at the quickest growth rate over the forecast period 2022-2029. Polyamide is also referred to as Nylon.
The Photopolymers type section controlled the global 3D Printing Plastics Market and registered for more than 50% of the global revenue share. Photopolymers are polymer base, soluble liquid mixtures of monomer and oligomers alongside a photoinitiator.
By End User:
- Electrical & Electronics
- Aerospace & Defense
The healthcare end-use segment controlled the global market and produced the highest share of the global revenue share. Major drivers boosting demand for 3d printing plastics in the healthcare industry contain its ease in customization, cost efficiency, as well as increasing occurrences of osteoarthritis and vascular diseases. Additionally, the developed technology, administrative or government support, and quick product development are projected to drive product demand in the healthcare segment.
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Rest of the globe
Asia Pacific 3D Printing Plastics Market is projected to register a huge CAGR from the period of 2022 to 2029. North America and Europe regions are expected to continue the acute markets for 3d printing plastics, owing to substantial occurrences of the healthcare and aerospace & defense industries that are the major end-user for 3d printing plastics.
The growth rate in the Asia Pacific region is projected to be huge over the forecast period where underdeveloped nations are anticipated to showcase huge diffusion driving the market. South Korea and China are the major regions contributing 3d printing of plastics materials in the Asia Pacific region.
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Competitive Landscape and Major Companies Covered in the Global Market:
The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions, contributing to the growth of the 3D Printing Plastics Market. Some of the major players include BASF 3D Printing Solutions GmbH, SABIC, 3D Systems Corporation, Oxford Performance Materials, Envisiontec GmbH, Eos GmbH Electro Optical Systems, Royal Dsm N.V., Golden Plastics, Materialise NV, and Arkema S.A.
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