The 3D printing plastics market is projected to reach a CAGR of 26.1% and touch $1,965.3 million by 2023. The major driving factor for the market is the rising demand for:
Let us look at how plastics are classified on the basis of type, form, application, and industry in the 3D printing segment.
1) On the basis of type:
2) On the basis of form:
3) On the basis of application:
4) On the basis of end-use industry:
Based on the type, the photopolymer segment is expected to dominate the market in the coming years owing to the rising demand from laser sintering technology.
Based on form, the filament segment is predicted to dominate the 3D printing plastics market. This is due to its large-scale use in industrial and general applications. Moreover, the powder segment is also predicted to have the highest CAGR through 2023 due to the growth of laser sintering technology.
Based on application, the prototyping segment is expected to dominate the 3D printing plastics market in 2023, and this trend is expected to continue growing. Also, the manufacturing segment is predicted to have a high CAGR during the forecast period.
When it comes to the region, the Asia Pacific countries are expected to have a high CAGR between 2021 and 2021. Europe and North America are also predicted to remain the major players in the 3D printing plastics market. This is due to the strong presence of defense, healthcare and aerospace industries, which are the primary end-users of 3D printing plastics.
In conclusion, as 3D printing technology advances, the implementation of 3D printing plastics will continue to witness a huge demand and the market will most likely see massive growth for the years to come.