3D Printing Materials Market

3D Printing Materials Market

3D printing is a process of manufacturing a 3D object based on a digital file of the object. Also known as additive manufacturing, the process of 3D printing involves laying down successive layers of the material until the desired object is produced. 3D printing has now evolved beyond prototyping and is also being used for mass manufacturing.

The global 3D printing materials market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 21.3%. The growing use of 3D printing technology in aerospace and defense, coupled with rising government investments in 3D printing, will propel the growth of the market. However, the high cost of materials is expected to curtail market growth.

3D printing materials are mainly used in aerospace & defense and healthcare, among others. Moreover, 3D printing materials have applications in electronics, jewellery, art & sculpture, and architecture. The aerospace & defense segment is projected to hold a dominating position in the global 3D printing materials market during the forecast period.

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High value materials like titanium are used for aircraft and this will create an opportunity for the growing adoption of 3D printing materials in the aerospace and defense industry. In August 2018, Boeing invested in Digital Alloys, a Massachusetts-based additive manufacturing company.

The major players operating in this market are launching new products and are partnering with other companies in order to increase their market share. For instance, in April 2018, Royal DSM N.V. launched new 3D printing materials including Novamid, Arnitel, and Arnitel, amongst others.

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