Market Analysis
3D Printing Materials Market is projected to be worth USD 14,274.2 million by 2030, registering a CAGR of 20.45% during the forecast period (2022 – 2030), as per the new Market Research Future (MRFR) analysis. 3D printing is that right solution to print products that possess detailed definitions, as this has the possibility of accurately printing fine details. This helps users in getting the exact designs based on the need.
Various factors are propelling the demand for the 3D printing material market. These factors, as revealed by the new MRFR analysis, include less risk of errors, growing need for 3D printing, growing use in the education & medical sector, advances in 3D printing, and increasing demand from aerospace, defense, and automotive industries, and innovations in 3D printing. Additional factors propelling the market growth include low wastage of cartridges, several perks that it provides like faster production process, good for mass production, cost-effectiveness, excellent quality products, and demand for high-performance materials, and favorable government funding.
On the flip side, high material cost, less durability of products, the grave effect of the ongoing COVID-19 outbreak, and the lack of skilled labor are factors that may impede the growth of the market during the forecast period.
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Market Segmentation
The 3d printing materials market is bifurcated on the basis of end use industry & material type.
The global 3D printing material market by material type has been segmented into plastic, ceramic, and metal. Among these, metal will spearhead the market during the forecast period. Meanwhile, the plastic material will develop at a fast pace during the forecast period.
The global 3D printing material market by end use industry has been segmented into aerospace and defense, construction, automotive, medical, consumer goods, and others. Among these, the aerospace & defense segment will have the lions share in the market during the forecast period. Meanwhile, the medical segment is predicted to develop at a fast pace during the forecast period.
Regional Analysis
Based on region, the 3D printing material market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Among these, North America will have the lions share in the market during the forecast period. The booming healthcare industry and increasing use in the aerospace sector are adding to the global 3D printing material market growth in the region. The US has the maximum share in the region as it is the biggest market for aerospace, which propels the need for complex aerospace parts.
In the APAC region, the global 3D printing material market is predicted to have healthy growth over the forecast period. Burgeoning demand for higher customization in the aerospace, automotive, medical, manufacturing, and consumer sector and rapid development & innovation of 3D printing materials in South Korea, India, China, and India are adding to the global 3D printing material market growth in the region. South Korea has the maximum share in the region.
In Europe, the global 3D printing material market is predicted to have favorable growth during the forecast period. Surging need for advanced passenger car designs that have the latest infotainment systems and the presence of leading automotive manufacturers are adding to the global 3D printing material market growth in the region.
In Latin America, the global 3D printing material market is predicted to have significant growth during the forecast period. Increasing production of various end use industries in Mexico & Brazil coupled with the region being the largest producer & exporter of automotive parts, electronics, aerospace components, and consumer goods are adding to the global 3D printing material market growth in the region.
In the MEA, the global 3D printing material market is predicted to have sound growth during the forecast period.
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Key Players
Prominent players in the global 3D printing material market report comprise Materialise NV (Belgium), 3D Systems Corporation (US), Höganäs AB (Sweden), Stratasys, Ltd (Israel), Arkema S.A. (France), Sandvik AB (Sweden), Royal Dsm N.V. (The Netherlands), EOS GmbH Electro Optical Systems (Germany), The Exone Company (US), Evonik Industries AG (Germany), and General Electric (US).
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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