Impact of COVID-19: 3D Printing Materials Market Size, Share, Investment Opportunities, Top Regions, Growth & Forecast by 2024
The Global 3D Printing Materials Market is projected to reach a value of over USD 16.2 billion by 2027 at a CAGR of around 23.3%.
Past few years, technological advancement has led to the potential growth of 3D printing across various research & development laboratories and digital printing markets globally. 3D printing offers the number of thermoplastics and other industrial materials found in conventional manufacturing. Acrylonitrile Butadiene Styrene (ABS) and Polylactic Acid (PLA) are the two most commonly used thermoplastic material for Fused Deposition Molding (FDM) desktop printing. Moreover, metal 3D printing has become popular, which rely on metal powder. The availability of metal 3D printing materials in additive manufacturing is dependent up on how easily the powdered form can be fused. Many end-use industries used 3D printing technology to design, manufacture, develop, and distribution processes for making flexible designs, safer and lighter products, reducing cost and reducing the lead times.
3D Printing Materials MARKET: Drivers & CHALLENGES
Increasing Demand from End-Use Industries
Adoption of 3D printing technology in the automotive, aerospace & defense, and consumer goods industries is increasing rapidly due to the less time consumption and cost-effectiveness in mass production. In the automotive industry, carmakers primarily use 3D printing to create an automotive prototype to check their form and fit. Moreover, the aerospace & defense industry is also using 3D printing technology to manufacture complex parts with the best design such as wing, engine parts, and jigs, etc. at a low cost. Titanium is widely used material in the aerospace and defense industry as it is corrosion resistant and has the highest strength-to-density ratio of any metallic element. In addition, 3D printing offers significant value to the consumer goods industry. Consumer goods are based on the customization of the trending products, and 3D printing help to manufacture these products with the speed and cost-effectiveness.
Thus, increasing demand from various end-use industries for 3D printing will help to boost the market for the 3D printing material market during the forecast period.
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High Material Cost
3D printing materials are split up into various categories, which related to the widely used 3D printing manufacturing technology namely FDM, SLA, and SLS[YG1]. Every manufacturing technology is different, which means each technology needs a different form of material. Plastic and metals are widely used material for 3D printing. These materials are available into the powder, filament and liquid form. The material pricing heavily depends on the quality of the material. Generally, PLA filament is extensively used, which is followed by ABS filaments. The expected price for home or office 3D printer’s filaments would be USD 20 to 70 per kg. ColorFabb BV is one of the popular filament manufacturers that offer wide arrange of PLA, which almost goes for USD 35.9 per 750 grams (without tax).
Thus, the high material price due to the high standard of purity is expected to hinder the market growth during the forecast period.
3D Printing Materials market: Key segments
- Segmentation based on type: Plastic, Metal, Ceramic, and Others
- Segmentation based on crop form: Filament, Powder, and Liquid
- Segmentation based on the process: Material Extrusion, Powder Bed Fusion, Photo polymerization, Material Jetting, Binder Jetting, Directed Energy Deposition, Hybrid Systems, Sheet Lamination and Others
- Segmentation based on application: Prototype, Manufacturing and Others
- Segmentation based on application: Automotive, Aerospace & Defense, Consumer Goods, Healthcare, Construction, and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
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List of the leading companies operating in the 3D Printing Materials Market include:
- 3D Systems Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Stratasys Ltd.
- Evonik Industries AG
- Sandvik AB
- Höganäs AB
- Markforged, Inc.
- ColorFabb BV
- Vexma Technologies Pvt Ltd
- Other Key Companies
3D Printing Materials MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
3D Printing Materials Market, by Type
- Acrylonitrile Butadiene Styrene (ABS)
- Nylon (Polyamide)
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3D Printing Materials Market, by Form
3D Printing Materials Market, by Process
- Fused Deposition Modelling (FDM)
Powder Bed Fusion
- Selective Laser Sintering (SLS)
- Selective Laser Melting (SLM)/ Direct Metal Laser Sintering (DMLS
- Electron Beam Melting (EBM)
- Multi Jet Fusion (MJF)
- StereoLithogrAphy (SLA)
- Digital Light Processing (DLP)
- Continuous Liquid Interface Production (CLIP)
- Daylight Polymer Printing (DPP)
- Drop On Demand (DOD)
- NanoParticle Jetting (NPJ)
Directed Energy Deposition
- LENS Technology
- Electron Beam Additive Manufacturing (EBAM)
- Composite Based Additive Manufacturing (CBAM)
- Selective Lamination Composite Object Manufacturing (SLCOM)
3D Printing Materials Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
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