3D printing has been on an unprecedented journey since its inception and it has already revolutionized various industries and their operations. The 3D printing material market is vast and expands far and wide. The most commonly used 3D printing materials in the world are plastic and photopolymer. Their popularity in the market is the result of their low prices as compared to metals and they are significantly reliable. The continuous research and development in the 3D industry have led to the emergence of advanced custom polymers and compounded materials, which have seen a surge in the last five to ten years.
Plastic is the most commonly used material, whether in filament or powdered form, in 3D printing. ABS and PLA are the most commonly used plastic types and their popularity has grown aggressively over time because of the growing awareness about their ease-of-use and ability to manufacture various objects. Because of its popularity all over the world, developers are continuously working on innovations in plastic chemistries and capabilities to offer materials that can rival the traditional versions of plastic. As a result of this innovation, photopolymers have emerged as one of the largest groups of materials purchased for use in 3D printing.
Photopolymers are unique in their characteristics, as they change their physical properties when exposed to light. They are in the form of liquid plastic resins when used in 3D printing, and harden when exposed to a light source such as a laser, a lamp, a projector or light-emitting diodes (LEDs). The developers of photopolymers are certainly going to utilize this unique property to their advantage by manipulating the mix of oligomers and monomers to develop specific physical properties such as stiffness or viscosity. Photopolymers have the potential to manufacture products with enhanced and better properties, however, these are more expensive than the plastics, and this may get in the way of growth of its market.
The global 3D printing plastic and photopolymer materials market is estimated to reach $1,865.4 million by 2023, growing at a robust CAGR. The growth in the market is driven by the growing demand for 3D printing technology from end-use industries such as automotive, aerospace and defense, healthcare and consumer sector. The market has the opportunity to explore untapped markets in emerging economies like China, Japan, India, South Korea and South America. The growing popularity of 3D printing materials can be attributed to their cost-effectiveness and reliability, along with a huge investment from the government and federal agencies in this industry.
Plastic and photopolymer have a hegemony over the 3D printing materials market due to their cost effectiveness compared to metals, reliable properties, advancement in technologies and product development, ease of availability, accurate printing speeds, lower labor costs and demand in the end-use industry. Despite this, the issues such as high initial investments, barriers to recycling of plastic waste, lack of skilled labor and copyright infringements are hampering the growth of the market.
BIS Research has conducted an extensive market research on ‘Global 3D Printing Plastic and Photopolymer Material Market– Analysis and Forecast 2017-2023’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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