3D Printed Bioplastic: Introduction
- 3D printing is a process of creating an object from a digital model. Bioplastics such as polylactide (PLA), NYLON 11, Arnitel ECO (thermoplastic copolyester), and BIOME3D are used in largely in combination with 3D printing technology to manufacture various parts of products in end-use industries.
Key Drivers of 3D Printed Bioplastic Market
- Growth in population, increase in income of the middle class, considerable improvement in lifestyle of the people, and digital transformation are factors estimated to boost the production of 3D printed bioplastic across the globe. 3D printing helps decrease time required for the development of a product. It also reduces errors and increases the accuracy in production of complex designs. Furthermore, it helps in the manufacture of customized products. Rise in demand for 3D printing technology in a wide range of end-use industries and increase in penetration of bioplastic in 3D printing technology are expected to augment the 3D printed bioplastic market.
- Rise in depletion of fossil fuel feedstock and increase in ban on polymer-based products are anticipated to fuel the demand for bio-based products in the near future. Furthermore, growth in awareness about bio-based products among consumers is projected to fuel the biopolymers market across the globe. Bioplastic has the potential to replace chemicals made from fossil fuels. This is a key factor boosting the bioplastic market. Furthermore, shift in consumer preference toward bio-based products is offering significant opportunities to the development of technologically advanced materials across the globe. Additionally, bioplastics offer increased safety and high environmental characteristics Raw material used in the formulation of these materials is available in abundance. This is expected to drive the demand for bioplastic in the near future. In turn, this is anticipated to boost the 3D printed bioplastic market.
Lower Dependence on Non-renewable Resources
- Bioplastic has the potential to lower the dependence on crude oil. Independence from fossil fuel resources is projected to lead to greener economic growth. Additionally, lower carbon footprint is likely to benefit manufacturers by increasing economic stability and avoiding social crisis within oil exporting regions such as GCC.
North America to Hold Major Share of Global 3D Printed Bioplastic Market
- Based on region, the global 3D printed bioplastic market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America and Europe dominate the global 3D printed bioplastic market. These regions are followed by Asia Pacific. The 3D printed bioplastic market is estimated to expand rapidly owing to the rise in demand for bioplastic in automotive and electrical & electronics sectors. North America held major share of the market in 2019 due to increase in adoption of 3D printing technology in various end-use industries including aerospace & defense, automotive, health care, and electrical & electronics. Rise in awareness regarding the use of 3D printing, increase in manufacturing facilities, and growth in research & development activities in bioplastic in the 3D technology sector are likely to augment the demand for 3D printed bioplastic in North America.
- Europe is projected to be a leading consumer of bioplastic in the near future. Increase in regulations on the usage of fossil fuel based products and rise in restrictions on the use of hazardous chemicals are anticipated to propel the demand for alternatives in the region.
- The market in Asia Pacific is expected to expand at a faster pace during the forecast period. China and Japan are the major countries that are extensively engaged in the production and supply of 3D printed bioplastic in Asia Pacific.
Key Players Operating in Market
The global 3D printed bioplastic market is highly consolidated, with the leading producers accounting for prominent share. Manufacturers operating in the market are highly engaged in product launches to increase the awareness of 3D printing in the bioplastic market. Key players operating in the 3D printed bioplastic market include:
- Biome Bioplastics Limited
- 3D Fuel
- Algix LLC
- Green Dot Bioplastics Inc
Global 3D Printed Bioplastic Market: Research Scope
Global 3D Printed Bioplastic Market, by Form
Global 3D Printed Bioplastic Market, by Processing Material
- Polylactide (PLA)
- NYLON 11
- Arnitel ECO (thermoplastic copolyester)
- Others (including Acrylonitrile Butadiene Styrene Copolymer [ABS])
Global 3D Printed Bioplastic Market, by End-use Industry
- Aerospace & Defense
- Health Care
- Electrical & Electronics
Global 3D Printed Bioplastic Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.