3D Printing Materials Market Application Growth Potential By 2024 | Top Key Players- ExOne, Voxeljet AG, Royal DSM N.V, Envisiontec, LPW Technology Ltd., SLM Solutions

The healthcare sector can be regarded as a major consumer of 3D printing materials market owing to potential in organ production and human tissue fabrication. They are utilized to manufacture dental crowns in dentistry. Rising health awareness in consumers will further expand the adoption of 3D printing materials in the next few years. Reportedly, the global 3D printing materials market size will be worth more than USD 3 billion in yearly remuneration by 2024, while the 3D printing equipment industry share will hit USD 9 billion.

Robust developments in the global aerospace and defense industry will augment the demand for 3D printing materials over the coming years. 3D printing materials and equipment find extensive applications in the automobile, defense, electronics, aerospace, and medical & pharmaceutical industries. This can be credited to the benefits like design freedom, high-speed precision, and smooth surface finish offered by the printers.

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Global trend towards adoption of ceramics
Consistent demand for desktops and professional 3D printers in offices across the education sector resulted in major revenues for the global 3D printing materials market. The adoption of the materials is likely to grow in the next few years owing to technological progressions and increased demand across diverse technical applications.

Ceramics contributed to over 20% of the overall industry share in 2016 due to significant profits recorded from extensive printing of plates, cups, saucers, figurines, and statues. Revenues for 3D printing metal segment is estimated at a CAGR of 17% up to 2024. The growth can be attributed to an incessant product demand across the defense & aerospace, industrial, and automotive industries.

Key Point of TOC:

Chapter 8. Company Profiles

8.1. Hoganas
8.1.1. Business overview
8.1.2. Financial data
8.1.3. Product landscape
8.1.4. Strategic outlook

8.2. Concept Laser GmbH
8.2.1. Business overview
8.2.2. Financial data
8.2.3. Product landscape
8.2.4. Strategic outlook

8.3. 3D Systems, Inc.
8.3.1. Business overview
8.3.2. Financial data
8.3.3. Product landscape
8.3.4. Strategic outlook
Continue…

Increased consumption in automobiles
Production of automobiles in 2019 was over 92 million units and is pegged to rise to 125 million units by the end of 2024. A prominent driver for 3D printing materials, the automobile sector is slated to achieve a CAGR of more than 16% through 2024, suggesting considerable opportunities for 3D printing equipment manufacturers.

Based on end-use, the electronics and consumer goods ranked as the largest segment for the 3D printing materials and equipment industry, responsible for close to 20% of the revenue share worldwide. Rising expenditure on consumer goods with growing per capita incomes have burgeoned the global demand for electronic gadgets and appliances.

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North America to remain a major consumer
North America 3D printing materials industry share was valued at over USD 200 million, which can be estimated to be nearly 35% of the global market share in 2016. Steady developments in the aerospace and defense industries along with government and large capital investments to strengthen the defense sector could add impetus to the regional market.

The Asia Pacific region, inclusive of China, Indonesia, India, and Japan, is likely to grow with increased product demand in the coming years owing to technological implementations in automobiles as well as the medical and pharmaceutical sectors. 3D printing material suppliers are constantly engaged in developing strategies like product launches and innovations, mergers as well as acquisitions to strengthen and expand their global presence albeit the COVID-19 pandemic.

For instance, Liqcreate, a Netherlands-based global manufacturer, in September 2020 introduced two new 3D printing resins, namely premium flex and premium tough for MSLA/LCD 3D-printing. However, higher costs of 3D printing materials and equipment could hamper the market growth to some extent.

Key participants in the industry accounted for over 50% of the global share in 2016. Some of the brands include Envisiontec, Voxeljet, ExOne, LPW Technology, EOS GmbH, Stratasys, Arkema, Optomec, Solidscape, Hoganas, Royal DSM, and Concept Laser.

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