Asia Pacific is the Fastest Growing Region in the 3D Printing Plastic Market
Bangalore, India: With its recently published study “3D Printing Plastic Market: Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022”, Infoholic forecasts that the global 3D printing plastic market will continue to increase owing to the increased exposure of different end-user areas such as aerospace & defense, automotive, and healthcare among others. 3D printing plastic are the materials used during the 3D printing process for layer by layer manufacturing. They have major uses in manufacturing OEM parts, rapid prototyping, tooling, etc. Materials such as ABS, thermoplastics, resins, FDM plastics, and bioplastics are mostly utilized by 3D printers.
The increased usage of 3D printing plastic materials for mass production and tooling operations with materials such as ABS, thermoplastics, resins, bioplastics in aerospace and automotive industry along with advance infrastructure solutions is expanding its market in the global economy. Further, increasing market penetration in developing Asian countries would also lead the market toward robust growth opportunities. This trend is expected to continue during the forecast period 2016–2022 to further increase the 3D printing plastic market at a CAGR of 26.5% and reach a value of $1.34 billion by 2022.
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Currently, North America is dominating the 3D printing plastic market due to increasing adoption of 3D printing technology in manufacturing assemblies and increasing infrastructure demand. The region is followed by Europe, which have the advantage of the developed economy and social awareness of the people. The key parameters for the dominance of North America in the 3D printing plastic market include the higher awareness level in the population base and increasing manufacturing base. The growth rate in Asia Pacific is expected to be exponentially high during the forecast period while underdeveloped countries are expected to witness higher penetration giving a boost to the 3D printing plastic materials market. China and South Korea are the dominating regions for supplying 3D printing plastic materials in APAC region.
The aerospace and defense segment of the 3D printing plastic market, being the most conventional segment known for using mostly 3D printed customized parts, has higher market share than healthcare and others (such as consumer goods, electronics, construction) with most of the demand volume coming from the automotive and aerospace. The increased demand for tooling and machining and rapid prototyping of plastic materials such as thermoplastics, PEEK, polyamides, and ABS have led to the rapid segmental growth of commodity as well as high performance materials. Dedicated bioplastics have relatively smaller market portion by value, although the adaptation is expected to increase exponentially over the years, generating much higher revenues for 3D printing plastics in future.
“The demand for 3D printing plastic materials is almost more than half of the total materials used in the additive manufacturing process. The consumption for customized part manufacturing and design flexibility makes it to be utilized in the fast-changing economy structures and is enabling them to grow rapidly. The growth in infrastructure along with changing OEM, healthcare, and aerospace industry needs shall drive the growth of the 3D printing plastic market in the coming years.” – Satya Shiwani, Senior Research Analyst.
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Key insights of the report
- The global 3D printing plastic market has been analyzed based on materials
- Commodity Polymers
- Performance Polymers
- The study constitutes a classification based on end-users
- Aerospace and Defense
- Consumer products
- Industry outlook: market trends and drivers, restraints, and opportunities