COWI Launches Subsidiary for Upcycling Plastic Waste According to Market Data Forecast, the global 3D printing plastics market size was more than $698 million in 2021 and is expected to reach $1.96 billion by 2026, registering a CAGR of 28.3%. 3D printer filaments can be made from a variety of thermoplastic materials, including those from recycling. However, as much as 80% of plastic waste is disposed in landfills, waterways or oceans, meaning only a small percent is recycled.
"The problem of upcycling post-consumer plastics is enormous, and we want to help solve this problem," said Lloyd Spencer, chairman and CEO of parent company CarbonMeta Technologies, Inc., and president of subsidiary Carbon Source, Inc. "Turning plastic waste streams into 3D printing products is an important goal, and making this a sustainable business for investors and customers is equally important."
To address this growing market, CarbonMeta Technologies' new Carbon Source subsidiary will market and develop upcycled 3D printing filaments, the majority of which will be comprised of at least 50% post-consumer plastic wastes.
"Demand for 3D printer filament products made from post-consumer plastics has been steadily growing over the past decade," added Bill Macy, president of Macy Consulting. "Department of Defense agencies and commercial manufacturers have increased demand for 3D printed products that are made from post-consumer plastics to meet their net zero initiatives."
Carbon Source is currently marketing a High Impact Polystyrene (HIPS) 3D printer filament and plans to market 3D printer filaments comprising at least 50% post-consumer Polyethylene Terephthalate (PET/PETE/PETG), Poly Lactic Acid (PLA) and Polyethylene.
In addition, Carbon Source plans to offer custom 3D printer filament development programs to corporate, government and makerspace customers that want to upcycle waste plastic streams.
https://www.accesswire.com/677424/carbonmeta-technologies-cowi-launches-subsidiary-for-upcycling-plastic-waste-into-3d-printing-filament