The global 3D printing plastics market size is expected to reach USD 5.4 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 24.0% from 2023 to 2030. The market is projected to witness substantial growth due to rising demand from various end-use industries such as medical, automotive, aerospace and defense, and consumer goods. Properties such as clarity in the image, high durability, high impact resistance, excellent UV and temperature resistant, sliding friction, high chemical resistance, rigidity, and dimensional stability are significantly fueling the demand for 3D printing plastics in the above-mentioned end-use industries across the globe.
3D printed products assist significantly in attaining economies of scale through the consumption of lesser lead time, reduced costs, and mitigated risks. 3D plastics also allow easier customization as per the consumers’ needs. Thus, attracting favorable government regulations across various end-use industries such as automotive, medical, and consumer goods. Asia Pacific is anticipated to expand at a lucrative CAGR over the forecast period. The medical end-use segment in the region is expected to witness substantial growth over the forecast period on account of the increasing applications of 3D plastics in prototyping, custom orthodontic implants, prosthetics, medical instruments, and others.
Moreover, the rising demand for high-quality medical instruments and components from hospitals in major economies, such as China, India, and Singapore, is anticipated to create lucrative opportunities in the medical industry. Furthermore, the recent outbreak of COVID-19 in countries such as India, China, Australia, Japan, and Malaysia is creating a high demand for 3D printing plastics, especially in face shields, 3D printed masks, and filter cover applications. Thus, the rising positive cases in the region are projected to significantly boost the market growth.
The consumer goods segment is emerging as a significant end-use of 3D plastic products on account of the reduced lead time offered by additive manufacturing techniques. Innovative additive manufacturing solutions enable the production of designer parts with complex geometries. Thus, facilitating the manufacturers to cater to rising consumer needs for personalized parts.
The photopolymers segment is anticipated to progress at a substantial rate over the forecast period. Massive demand for photopolymers is attributed to high consumption in the production of industrial prototypes through the utilization of SLA technology. Polyamide/nylon is anticipated to witness the fastest growth during the forecast period on account of the rising demand from both domestic as well as commercial applications. The demand for polyamide/nylon is majorly contributed by laser sintering technology.
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3D Printing Plastics Market Report
3D Printing Plastics Market Report Highlights
- North America dominated the 3D printing plastics market and accounted for more than 40% share of the global revenue in 2022.
- Photopolymers type segment led the market and accounted for more than 58% share of the global revenue in 2022
- Photopolymers are used extensively across several application industries as they act as a binder, additive, colorant, plasticizer, and as a chemical agent in the 3D printed product
- In 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
