New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "3D Printing Plastics Global Market Report 2023" - https://www.reportlinker.com/p06325448/?utm_source=GNW
, Voxeljet AG, and Oxford Performance Materials Inc.
The global 3d printing plastics market grew from $1.14 billion in 2022 to $1.41 billion in 2023 at a compound annual growth rate (CAGR) of 23.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The 3d printing plastics market is expected to grow to $3.25 billion in 2027 at a CAGR of 23.2%.
The 3D printing plastic market consists of sales of acrylonitrile styrene acrylate, polyethylene terephthalate and polycarbonate.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
3D printing plastic refers to plastic filament used in 3D printing. It is a thermoplastic with a base of elastomers based on polybutadiene, which makes it a more flexible material. 3D printing plastics can be used to create almost anything, including prototyping, manufacturing, anatomical models, and other applications.
North America was the largest region in the 3D printing plastic market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the 3D printing plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of 3D printing plastics are photopolymers, ABS, PLA, polyamide, and other types.The photopolymers are used to provide flexibility, durability, chemical, optical, and mechanical resistance to the material and reduce production costs.
Photopolymers in 3D printing refer to the use of laser sintering technology to solidify the 3D printed material during the manufacturing process. The 3D printing plastics are in various forms such as powder, filament, and ink and they are used for prototyping and manufacturing in the aerospace and defense, healthcare, automotive, electronics and consumer goods, and other sectors.
The rising use of 3D printed plastic in the automotive sector is expected to propel the growth of the 3D printing plastic market. 3D printing plastic has long-standing benefits when it comes to reducing the production of waste and scrap. As part of a digital transformation trend, 3D plastic printing can help transition to digital manufacturing, especially when combined with tools that enable excellent connectivity and automation. For instance, in February 2022, Bentley Motors Limited, a UK-based manufacturer and marketer of luxury cars and SUVs, extended the capability of 3D printing to produce thousands of new components. In 2021, the company recorded 15000 components produced in their facility center. Additionally, the company has invested £3 million to double its additive manufacturing (AM) capacity. Furthermore, in July 2020, Bayerische Motoren Werke AG(BMW), a German-based manufacturer of luxury vehicles and motorcycles, opened its additive manufacturing campus to the public. Therefore, increasing use of 3D printing in the automotive sector is expected to boost demand for 3D printing plastic during the forecast period.
Product innovation is a key trend gaining popularity in the 3D printing plastics market.The companies operating in the 3D printing plastics market are focusing on developing the innovative product with the latest technologies to meet fast-growing industry demands and strengthen their market position across the globe.
For instance, in February 2021, Nexa3D, a USA-based developer of ultrafast stereolithography production 3D printers, and Henkel jointly launched new class of photoplastics for 3D printing.
In January 2021, Stratasys, a US-based additive manufacturing company, acquired Origin for an undisclosed amount.With this acquisition, Stratasys would add Origin’s software-centric additive manufacturing solution for production-oriented polymer applications printing technology based on digital light processing.
Origin is a US-based startup focused on mass manufacturing of additives.
The countries covered in the 3D printing plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The 3D printing plastics market research report is one of a series of new reports that provides 3D printing plastics market statistics, including 3D printing plastics industry global market size, regional shares, competitors with a 3D printing plastics market share, detailed 3D printing plastics market segments, market trends and opportunities, and any further data you may need to thrive in the 3D printing plastics industry. This 3D printing plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06325448/?utm_source=GNW
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