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Global 3D Printing Plastics Market to grow USD 2033.4 Mn in 2028.


3D Printing Plastics Market

The Global 3D Printing Plastics Market Size was valued at USD 698.2 Mn in 2021. The market is projected to grow USD 2033.4 Mn in 2028, at a CAGR of 25.6 %. 3D printing plastics is a substance that provides solid items three dimensionality.

3D Printing Plastics Market

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COVID-19 ANALYSIS

The global 3D printing plastics market is negatively impacted with the outbreak of COVID-19. The drop in commercial and other industrial operations as a result of the pandemic is expected to stymie the expansion of the 3D printing plastics industry. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the manufacturing rate of 3D printing plastics, influencing the management of the 3D printing plastics supply chain. Many industries in the market have been compelled to halt operations because to the epidemic, in order to comply with government laws such as social distancing. As a result, global 3D printing plastic business conditions have become insecure. This trend is likely to end in the second half of the year, as demand is expected to rise as people become more concerned about smart automation, energy efficiency, and resource efficiency.


The increase in commercial product production has had a favorable impact on market growth. Furthermore, the aerospace industry's rise is the key driver of the 3D printing plastics market. Plastics used in 3D printing are in great demand in electric devices and in the creation of three-dimensional solid things, which help to improve their efficiency and aesthetics, boosting global market growth. Furthermore, these polymers have advantageous qualities such as high density and permeability, which increase their global demand. During the projection period, however, variation in raw material costs used in the production of 3D printing plastics is expected to stifle market expansion. End-user industries such as automotive, medical, electronics, aerospace, and defense are likely to drive growth in the market. Due to technological advancements in the automobile industry, 3D Printing Plastics is in high demand. Photopolymer 3D printing has made it possible to design creative, stronger, lighter, and safer products and parts at reduced costs. OEMs largely employed 3D printing for quick prototyping.


The photopolymers segment has dominated the market share of the global 3D printing plastics market in 2020 owing to the numerous benefits associated lightly sensitive polymeric polymers that change their physical and chemical properties when exposed to light. The filament held the largest market share in 2020 of the global 3D printing plastics market attributing to the demand is expected to be driven by versatile features combined with a surge in demand from many application industries such as food packaging, dinnerware, upholstery, and disposable clothes. However, ink owing to the continuous research and development, as well as investments in smart ink development. The healthcare segment is dominated the market share in 2020 owing to the product demand in medical applications is likely to be boosted by improved technology, favorable government backing, and quick product development.

3D Printing Plastics Market

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North America region is dominating the market share of global 3D Printing Plastics market owing to the growing applications of IoT and technological advancements. Presence of major players, as well as the Industry 4.0 initiative to boost industrial productivity. The burgeoning medical end-use market, owing to the country's growing senior population, is driving demand for 3D printing plastics in the country. The mechanical and chemical qualities of 3D printed plastics have led to an increase in demand for 3D printed polymers in medical equipment. Product demand in the healthcare business is likely to be driven by biocompatibility, optical clarity, and cost-effective manufacturing methods.


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https://extrapolate.com/Chemicals-and-Advanced-Materials/3d-printing-plastics-market/25613




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