Growing demand from the automotive and aerospace industries, latest developments in the additive manufacturing sector and favourable government support are anticipated to drive the development of the 3D printing plastics market.
The global 3D printing plastics market was valued at USD 748.8 million in 2018 and is expected to reach USD 2,368.4 million in 2026, growing at a CAGR of 16.4% during the forecast period.
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In 3D printing, different kinds of plastics are used for 3D printing, such as ABS plastic, PLA, polyamide (nylon), stereolithography (epoxy resins), polyamide-filled glass, photopolymers, and polycarbonate, among others. It is commonly accepted from car bodywork to mobile phone instances and used across various industries such as aerospace & defense, automotive, and electrical & electronics. It is mainly used to reduce the lead time provided by additive manufacturing methods for the production of components and parts.
Increasing demand for efficient manufacturing of parts and products in the healthcare industry and growing demand in manufacturing activities are primarily driven the growth of the market over the years. Moreover, the rise in adoption across automotive, aerospace & defense, and electrical & electronics are the other major end-use industries of 3D printing plastics, which expected to influence the 3D printing plastics market in terms of sales and revenue. Considering the present situation, the raise in demand for product advancement, increase in government financial support for establishing new technological manufacturing facilities, and the growth in demand from end-use application sectors such as automotive, healthcare and aviation are projected to increase product revenues of the market.
However, the elevated expenses of 3d printed products and the demand for large volumes for research and development are anticipated to hinder the growth of the worldwide 3D printing plastics industry during the forecast period.
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