3D Printing, also known as additive
manufacturing. It is called so since it descriptive of how the technology
works, by successively adding thin layers of microns to create the object of
desire. 3D printing technologies have evolved drastically but they still work
on this same, basic principle of adding layers over layers. The process of
printing a desired object takes three steps – designing 3D file of the desired
object, the actual printing process which uses plastics, ceramics, glass, food,
textiles and then, the finishing process which needs specific skills and
expertise like to be sanded, lacquered or painted. This technology is
continuously growing and the processes are ever changing. Depending on factors
like budget, function and design, desirable material for printing is used. This
technology is helpful in creating many new objects which earlier wasn’t possible
due to mass productions.
The report “3D Printing Plastics Market - Global Drivers, Restraints, Opportunities,
Trends, and Forecasts up to 2022” gives a detailed analysis on the 3D printing
plastics market on the global level. The report provides market size
information and their trends with parameters impacting it in the short term and
long term. This report gives a complete over – view of the market with
important insights of the industry. These will help in making strategic and
informed business decisions which will help the investors invest accordingly.
The key players in the global market for 3D printing plastics are Stratasys, SABIC, DOW Chemicals, BASF, and 3D
Systems.
Regionally, North America has the highest market
share for 3D printing plastics. It has been heavily supported by governmental
support, China included. This is preferred since it helps in achieving
economies of scale with reduced manufacturing costs, lower risks and lead time.
Due to these reasons, they are highly demanded in various industries like
automotive, electrical, FMCGs, electronics and engineering. Higher adoption
rates of 3D printing technologies are also expected to lead to increase in
demand for the base material of plastics. Segment - wise, consumer goods are
the fastest observant of the technology wince additive manufacturing has led to
significant decrease in the lead time.
Lead players in the market have adopted various
organic and inorganic growth strategies to enter the markets. Expansions,
mergers & acquisitions and collaborations have led to more competition in
the market which has helped in gaining economies of scale, thus reducing
production costs.
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