Grand View Research, Inc.
SAN FRANCISCO, June 17, 2020 /PRNewswire/ — The global medical 3D printing plastics market size is expected to reach USD 1.38 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 26.6% from 2020 to 2027. Demand for medical 3D printing plastics is ascending at a prominent rate owing to the COVID-19 pandemic situation. The pandemic situation caused a sudden increase in demand for face mask and covers, gloves, head and shoes cover, and other medical devices.
In terms of volume, the photopolymer type segment accounted for the largest share in the year 2019 and is anticipated to maintain its lead over the forecast years. Photopolymers are used to produce various medical components, including hearing aid, dental implants, and face mask. Components produced using photopolymer have high accuracy as well as smooth surface finish and complex shapes can be produced easily. These properties make it suitable for medical 3D printing process.
Key suggestions from the report:
- Key raw materials utilized in the production of medical 3D printing plastics include styrene, amides, lactic acid, ether, glycols, and ethylene, which are by products of crude oil and natural gas
- In terms of volume, the photopolymer type segment accounted for a prominent share in the market in 2019 and is expected to witness significant growth over the forecast period
- The filament form segment dominated the global market and accounted for 74.91% share of the overall revenue in 2019
- As of 2019, North America accounted for 44.89% share of the overall revenue. Increasing focus of packaging product manufacturers is assisting the market growth in region.
Asia Pacific is anticipated to witness substantial growth over the coming years owing to various factors such as presence of government initiatives, such as Make in India, rising number of medical products manufacturers, and increasing R&D investments in the medical 3D printing plastics sector by private as well as public organizations. In addition, various medical product manufacturing companies have started looking towards India for establishing manufacturing facilities post COVID-19 pandemic situation.
Grand View Research has segmented the global medical 3D printing plastics market on the basis of type, form, and region:
- Medical 3D Printing Plastics Type Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
- Polylactic Acid
- Medical 3D Printing Plastics Form Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
- Medical 3D Printing Plastics Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America
- List of Key Players of Medical 3D Printing Plastics Market:
- 3D Systems, Inc.
- Apium Additive Technologies GmbH
- ENVISIONTEC, INC.
- Evonik Industries AG
- Stratasys Ltd.
- Victrex plc
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Hermetic Packaging Market – The growth of the aerospace & defense industry has been favoring the hermetic packaging industry. Relatively cheaper airways coupled with low fuel cost have been encouraging new fliers across the globe, thereby leading to rising flying frequency.
- Thermoform Packaging Market – Thermoforming is a plastic molding process wherein plastic material is heated up to its pliable temperature, and further, it is converted into the desired shape by using molding. The thermoforming process is divided into two types, namely, thin gauge and thick gauge thermoforming.
- Specialty Polyamides Market – Surging demand for lightweight materials in the automotive and transportation industry is one of the key trends propelling the growth.
Original Source: https://www.oilandgas360.com/