The 3D printing plastics market is estimated to be USD 615.8 million in 2018 and is projected to reach USD 1,965.3 million by 2023, at a CAGR of 26.1% between 2018 and 2023. One of the major drivers for the market includes forward integration by major polymer manufacturers. Factors such as increasing demand for 3D printing technology in various applications in end-use industries and the demand for bio-based plastics affect the 3D printing plastics market positively.
The 3D printing plastics market has been segmented on the basis of end-use industry into aerospace & defense, healthcare, automotive, electrical & electronics, and others. The healthcare segment dominated the 3D printing plastics market in 2017, and it is expected to register the highest CAGR from 2018 to 2023 with increasing demand from medical devices & equipment and orthopedic & dental implants.
On the basis of type, the 3D printing plastics market has been segmented into photopolymer, ABS, PLA, polyamide, and others. The photopolymer segment dominated the market in 2017, whereas the polyamide segment is projected to register the highest CAGR during the forecast period due to the increasing demand from the laser sintering technology.
Based on form, the 3D printing plastics market was dominated by the filament segment in 2017. The filament segment is estimated to dominate the market with its wide use in general and industrial applications. The powder segment is expected to register the highest CAGR during the forecast period with respect to the growth of laser sintering technology.
Based on application, prototyping segment dominated the 3D printing plastics market in 2017, and this trend is expected to continue during the forecast period. The manufacturing segment is expected to register the highest CAGR during the forecast period.
The 3D printing plastics market in the Asia Pacific region is projected to register the highest CAGR between 2018 and 2023. North America and Europe are estimated to remain the major markets for 3D printing plastics, owing to the strong presence of the aerospace & defense and healthcare industries, which are the major end users of 3D printing plastics.
Environmental concerns regarding the use of plastics are one of the major restraints for the market. Some of the key companies operating in the 3D printing plastics market include 3D Systems Corporation (US), Stratasys, Ltd. (US), Arkema SA (France), BASF SE (Germany), Evonik Industries AG (Germany), SABIC (Saudi Arabia), HP Inc. (US), DowDuPont Inc. (US), Royal DSM N.V. (Netherlands), EOS GmbH Electro Optical Systems (Germany), Clariant International Ltd. (Switzerland), CRP Group (US), Envisiontec GmbH (Germany), Materialise NV (Belgium), and Oxford Performance Materials Inc. (US). These global players with an established distribution network and industry expertise, are investing more in R&D activities. They also have strong technical and market development capabilities, which enable them to upgrade their existing products for new applications.
Collaborations/partnerships/joint agreements are some of the key developments undertaken by these companies.
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