Market Research Future has published its report on the global 3D Printing Material market which, based on various observations and calculations, is expected to grow at a CAGR of more than 20.45% during the forecast period which ends in 2030. 3D printing material is available in a variety of forms which can be used in 3D printers for a variety of purposes. The global 3d printing material market is expected to surpass an estimated evaluation of USD 14,274.2 million by the end of 2030.
3D printing technology has been hailed as revolutionary for its sheer and vast potential. Acceptance and adoption of 3D printing technology have occurred at a high rate, and many startups have entered the 3D printing market to explore the various applications that 3D printing can be used for. As a result, the demand for 3D printing material has grown significantly. Moreover, the increase in competition in the 3D printing material market has resulted in lower prices for the implementation of the technology and the products it creates. Improvements in technology, the speed of printing and scalability have been explored to benefit the market greatly. Increasing demand from a variety of end-use industries where 3D printing material is used extensively includes automotive, consumer goods, healthcare, aerospace, and several others. These industries are growing at a rapid pace. The growth of the automotive industry has been largely due to shifting economic factors and increasing purchasing power in emerging economies. In healthcare, 3D printing material is used in 3D printers to create biomimetic prosthetics among other medical applications. Some market players are also using 3D printers to create uniquely shaped confectionery. Experimentation and research & development of materials for use as 3D printers will likely lead the market to opportunities for growth over the forecast period.
Market Segmentation
MRFR segments the global 3D printing market in its report on the basis of material, application, and region. By material, the market is broadly segmented into plastics, ceramics, metals, and others. Plastics come in a wide number of types with varying performance levels and are widely used in a number of 3D printing applications making them an important segment in the 3D printing materials market.
3D printing materials find applications in aerospace & defense, automotive, healthcare, consumer goods, and other industries. In automotive and aerospace, 3D printing has found applications due to its ability to produce lightweight components which are crucial in lending themselves to increasing fuel efficiency. MRFR's global analysis includes segmentation of regions into North America, Europe, Asia Pacific, and the Rest of the World.
Regional Analysis
The European 3D printing materials market accounts for the most significant region and is closely followed by the Asia Pacific market. Europe's leadership position is primarily due to the concentration of leading market players in the region. The region is witnessing rapid development and expansion of the industrial sector which is also a significant growth driver for the regional market.
The Asia Pacific is projected to grow at the highest CAGR during the forecast period. The region's rapid growth is observed on account of the regions growing reputation as an industrial hub and the presence of a truly significant consumer population with increasing purchasing power. The market for consumer goods in the region is growing rapidly in response to demand from consumers in the APAC region. Moreover, automotive market players are leveraging 3D printed components to make vehicles more fuel efficient to meet the demand for the same. The APAC is also a significant materials market with a high number of leading plastics and metal manufacturers thus creating opportunities for growth for the regional and global market as a whole.
Key Players
Arkema S.A. Inc., Royal DSM N.V., Höganäs AB, Sandvik AB, EOS GmbH, Arcam AB Inc., Stratasys Ltd. Inc., 3D Systems Corporation, ExOne GmbH Inc., and Solvay S.A. are among the leading market players that have been profiled in MRFR's report.
Read More: https://www.marketresearchfuture.com/reports/3d-printing-material-market-1912
Latest Industry News
- Ultimaker has announced that it's recently launched Ultimaker S5 will be optimized for new material options.
- Carbon has released its very first medical-grade material for its DLS 3D printing platform.
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