3D Printing Plastic Market To Top $1 Billion!

July 2, 2015 - Comment

Availability of low-cost printers has also propelled demand for 3D printing in personal use applications. However, high cost of these materials is expected to be a restraining factor for the growth of the market. Nonetheless, development of 3D scanning and printing technology is projected to open growth opportunities in the near future. Plastics were the

Availability of low-cost printers has also propelled demand for 3D printing in personal use applications. However, high cost of these materials is expected to be a restraining factor for the growth of the market. Nonetheless, development of 3D scanning and printing technology is projected to open growth opportunities in the near future.

Plastics were the single largest product segment of the 3D printing materials market, accounting for over 48% of the market in terms of volume in 2013. Additionally, it is expected to be the fastest growing segment during the forecast period, due to rising demand for plastics from electronics & consumer products and printing market sectors.

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Among the various application sectors, consumer products and electronics accounted for a share of about 23%, followed by automotive, at the end of 2013. Currently, the consumer products and electronics sector is the largest segment and this trend is likely to continue over the duration of the forecast period. The segment is projected to grow at a CAGR of over 17% between 2014 and 2020. Higher access to 3D printing coupled with rising adoption for personal use is supporting the growth in the segment. The 3D printing function is used to print parts of electronic products such as cases for mobile phones, TV remotes, and TV antenna in consumer products and electronics segment. It is used to print products such as window frames, toys and spare parts of vacuum cleaners in household applications.

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