3D printing or additive manufacturing is in great call in the world industry because it is very efficient compared to other traditional manufacturing

The 3D printing plastic industry size was valued at $ 494.6 million in 2020 and is predicted to reach $ 1965.2 million by 2025, with a CAGR of 26.4% during the foreseen period. 3D printing materials are employed to make critical prototypes and parts from hundreds of plastic and metal materials. It has become common practice for the aerospace industry to produce complex designs using a one-piece 3D printing material that uses less material, is lightweight, and improves fuel efficiency better than traditionally manufactured parts. Manufacturing companies are using 3D printing, most of them exploring the possibilities of integrating additive manufacturing into their established processes, to achieve better and faster results. 3D printing is gaining popularity in the fields of additive manufacturing. Additive manufacturing, for years, has relied on the subtractive process, in which raw material wasted during the production process is reemployed over and over again. The 3D printing materials industry is experiencing escalating adoption among consumers around the world. As the trend largely shifts towards developing regions, 3D printing materials are seeing impressive expansion in the Middle East regions.

Market drivers and restraints:

3D printing or additive manufacturing is in great call in the world industry because it is very efficient compared to other traditional manufacturing methods. Plus, it doesn't even require specialized tools to create a prototype. Additive manufacturing also avoids several tool-related limitations on geometries that can be obtained through the traditional production process. However, the high production cost of 3D printed plastic parts is an obstacle to the expansion of the entire industry. The initial cost of acquiring 3D printing equipment is high. Commercial grade equipment is very capital intensive in nature. In addition, the costs of materials and plastics for 3D printing are also higher because they are high-end grades designed especially for 3D applications in various end-use industries. Furthermore, the increase in positive COVID-19 cases worldwide is creating a great call for the 3D printing plastics industry. Since the COVID-19 outbreak, the call for medical components such as face shields, masks, vent valves, and the like has escalated. In addition, the shortage of medical components due to escalating call worldwide due to COVID-19 is driving the adoption of 3D printing. 3D printing is ideal for filling the short-term supply gap as it enables manufacturing, customization, and on-call changes to meet the needs of different hospitals, physicians, and users of personal protective equipment. It offers massive customization for the same or similar cost per unit.

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https://www.marketdataforecast.com/market-reports/three-d-printing-plastics-market

Report segmented as:

  • By type:
    • Photo polymer
    • ABS
    • Poly amide
    • PLA
  • By form:
    • Filament
    • Liquid/ink
    • Powder
  • By end-use industry:
    • Healthcare
    • Aerospace & defense
    • Automotive
    • Electrical & electronics

Geographical analysis:

The United States dominated the North American industry in 2019 and is predicted to continue to dominate throughout the foreseen period. The call for 3D printing plastics in the country is mainly driven by the growing segment of medical end uses due to the growing elderly population in the country. Additionally, the growing patient population, due to the community-level COVID-19 outbreak, is predicted to drive the call for medical components, thereby escalating call for 3D printing plastics in the United States.

Important market players:

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).

The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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