CAGR with 26.3%, The Global 3D Printed Bioplastics Market Share to Exceed USD 2,635.65 Million by 2026: Facts & Factors
15 January 2021
New York, NY, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “3D Printed Bioplastic Market By Form (Filament, Liquid, Powder/Solid), By Material (Polylactide (PLA), NYLON 11, Arnitel ECO (thermoplastic copolyester), BIOME3D, Others), By End User (Aerospace & Defense, Automotive, Health Care, Electrical & Electronics, Others) and By Region Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global 3D Printed Bioplastic Market was estimated at USD 518.7 million in 2019 and is expected to reach USD 2,635.65 million by 2026. The global 3D Printed Bioplastic Market is expected to grow at a compound annual growth rate (CAGR) of 26.3% from 2019 to 2026.
The Global 3D Printed Bioplastics Market Is Powered By Economic Development, Technological Advancement, Rising Demand From End-User Industries.
3D printing is the process of manufacturing a three-dimensional solid object from a digital file. This object is created by successive adding of layers of material till the object is created. Therefore this process is also called additive manufacturing. In recent years, 3D printing has developed significantly and can now perform crucial roles in many applications, with the most important being manufacturing, medicine, architecture, custom art, and design. Complex Bioplastics are also created with the help of 3D printing technology. The flexibility offered by 3D printing has made it extremely popular amongst the manufacturer and designer. Modifications can be carried out without any significant changes in the process of manufacturing. Bioplastic is prepared from renewable biomass sources such as corn, starch, agricultural waste, and used plastic processed by microorganisms. This bioplastic in combination with other materials is used in 3D printing technology.
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As the applications of 3D printing are increasing, the search for appropriate material to satisfy the demand for this application is also in process. 3D printing is extensively used to manufacture shoes, musical instruments, building parts, car components, dental, implants, medical devices, jewelry, functional ceramics, robots, prosthetics, and casts Though at present synthetic polymer is the favorite material for a manufacturer due to its low cost and availability. But the rising demand for sustainable development and a green economy is generating the need for better alternatives. These alternatives should be equivalent to a synthetic polymer or even better in performance and it should be environmentally friendly. Bioplastic is seen as the best alternative as of today. The tremendous market potential of 3D printing is fuelling heavy investment in technology from the public and private institutions. Government agencies are also providing incentives to the startups to ride on the popularity wave of 3D printing. A major chunk of this investment is likely to be channelized by bioplastic as material for 3D printing. It is expected that in the future the demand for personalized products will increase by leaps and bounds and this is possible thanks to 3D printing technology.
Top Market Players
Some of the leading and top companies in the 3D printed bioplastic market are 3D Systems Corporation, Arkema Inc., Envisiontec Inc., SABIC, Materialse nv, HP INC., Eos GmbH Electro Optical Systems, PolyOne Corporation, Royal DSM N.V.
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The demand for 3D Printed Bioplastics is expected to be driven by an increase in the demand for consumer products due to the rising population and middle-class segment of the population. Improvement in lifestyle, demand for customized products is likely to boost the production of 3D printed bioplastic market. 3D printed bio [plastic is also used in end-use industries. Bioplastic is seen as an environmentally friendly alternative to concrete, further improvements complemented with more research and development is expected to make it a better alternative to concrete.
Experiments of 3D printed bioplastic construction can be seen on the canal-side site of Dus Architecture in Amsterdam. Further, consumer awareness with respect to sustainable development and choices for environment-friendly material is likely to nudge manufacturers towards the use of bioplastic in 3D printing devices. Government support for green development is likely to fuel investments in 3D printed bioplastic material. However, the high cost of bioplastic will act as a restraining factor in the growth of the 3D printed bioplastic market. Moreover, research and development of bioplastic preparation like algae-based bioplastic are likely to reduce the cost of material in the forecast period.
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The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the 3D Printed Bioplastic sector. Key strategic developments in the 3D Printed Bioplastic market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the 3D Printed Bioplastic market are appropriately highlighted in the report.
The global 3D Printed Bioplastic market is experiencing significant growth that is expected to continue over the upcoming years. With a massive rise in the demand for Media and Entertainment, Construction is likely to act as a key driver of the global 3D Printed Bioplastic market.
The 3D Printed Bioplastic market research report delivers an acute valuation and taxonomy of the 3D Printed Bioplastic industry by practically splitting the market on the basis of different, applications, industry end-user, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
Browse the full “3D Printed Bioplastic Market By Form (Filament, Liquid, Powder/Solid), By Material (Polylactide (PLA), NYLON 11, Arnitel ECO (thermoplastic copolyester), BIOME3D, Others), By End User (Aerospace & Defense, Automotive, Health Care, Electrical & Electronics, Others) and By Region Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/3d-printed-bioplastic-market
In terms of geography, the North American region is dominated by the 3D printing industry, therefore this region is likely to grow rapidly in the 3D printed bioplastic market. The major share of research and development is also contributed by the North American region which is expected to benefit the industry in the area. Environment-friendly choice of the consumer will lead to an increase in the demand for bioplastic in the European market. The rising population in the APAC region and trade agreements like RCEP which is likely to increase free trade will act as the major factors in the growth of the 3D printed bioplastic market.
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Key Insights from Primary Research
- Increased demand for environment-friendly products in the market
- Increasing demand for customized designs which has become accessible to masses through 3D printing technology is expected the growth of bioplastic
- Development of research and development in the material science of bioplastic
Key Recommendations from Analysts
- Rising demand for sustainable development and channelizing the market fund toward the green economy is likely to increase the demand for bioplastics
- North America region is anticipated to acquire a larger share of the 3D printed bioplastic market in the upcoming years.
- PLA based bioplastic is seen as major driving segments of the market in the forecast period.
The taxonomy of the 3D Printed Bioplastic Market by its scope and segmentation is as follows:
Global 3D Printed Bioplastic Market: Form Analysis
Global 3D Printed Bioplastic Market: Material Analysis
- Polylactide (PLA)
- NYLON 11
- Arnitel ECO (thermoplastic copolyester)
Global 3D Printed Bioplastic Market: End Use Analysis
- Aerospace & Defence
- Health Care
- Electrical & Electronics
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