New York, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "3D Printing Plastics Market Size, Share & Trends Analysis Report By Type, By Form, By End-user, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05965062/?utm_source=GNW
3D Printing Plastics Market Report Growth & Trends
The global 3D printing plastics market size is expected to reach USD 2.83 billion by 2027. The market is projected to register a substantial CAGR of 23.7% during the forecast period, 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, among others are significantly fueling the demand of 3D printing plastics in these 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 consumer needs. Thus, attracting favorable government regulations across various end-use industries such as automotive, medical, and consumer goods. Asia Pacific is anticipated to progress at a CAGR of 27.1% over the forecast period. The medical end-use segment in the region is expected to witness substantial growth on account of increasing the application of 3D plastics in prototyping, custom orthodontic implants, prosthetics, medical instruments, and others.
Moreover, rising demand for high-quality medical instruments and components from hospitals in major economies, such as China, India, and Singapore, are 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 are creating a huge demand for 3D printing plastics especially in a face shield, 3D printed masks, and filter cover application.
Thus, the rising positive cases in the region are projected to significantly drive market growth.
The consumer goods industry is emerging as a significant end-user of 3D plastic products on account of 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.
Photopolymers is anticipated to progress at a substantial growth 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 CAGR during the forecast period on account of rising demand from both domestic as well as commercial applications. The demand for polyamide/ nylon is majorly contributed by laser sintering technology.
3D Printing Plastics Market Report Highlights
• North America dominated the overall 3D printing plastics market, while Asia Pacific is expected to expand at the fastest CAGR of 27.1% in terms of revenue over the forecast period. Favorable government policies in the Asia Pacific region, particularly in China and India, are likely to drive the growth
• Photopolymers was estimated to be the largest type segment in the global market in 2019 and is anticipated to continue dominating over the forecast period. Photopolymers are used extensively across several application industries as it acts 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 manufacturing operations of additives. This collaboration was announced during 3D printing and additive manufacturing event 2019 RAPID+TCT Conference and will help the adoption of 3D printed products in industrial manufacturers
Read the full report: https://www.reportlinker.com/p05965062/?utm_source=GNW
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