3d Printing Material Market 2021: Understanding Competition Scenario

3D printing materials are used to manufacture critical metal and plastic components. These materials are widely used in the manufacturing of aerospace components as it helps in the manufacturing of lightweight and fuel-efficient aircraft. 3D printing materials are available in the three forms: filament, liquid, and powder.

The global 3D printing materials market was accounted for US$ 1,183.5 Mn in 2019 in terms of value and expected to grow at 18% CAGR (2020-2027) in the forecast period.

For Better Understanding, Download Sample Copy of 3d Printing Material Report in Just One Single Step: https://www.coherentmarketinsights.com/insight/request-sample/4376

Drivers:

Favorable government support for 3D printing technology is fueling the market growth of the 3D printing materials. 3D printing technology is widely used across defense and military sectors. By using 3D printing technology military products can be produce that can withstand harsh functional testing. The government of different countries is investing heavily in experimenting and exploring 3D technology which is further propelling the market growth.

Rapid urbanization and industrialization around the globe are propelling the market growth of the 3D printing materials. The rise in the various manufacturing sectors coupled with the increase in urban population is driving market growth of the 3D printing materials. Moreover, increasing grants by various regulatory bodies to adopt 3D printing technology is again expected to foster the market growth of the 3D printing materials.

Figure 1. Global 3D Printing Materials Market, Revenue Share (%), By Region, 2019

3D Printing Material | Coherent Market Insights

North America region dominated the global 3D printing materials market in 2019, accounting for 36.6% share in terms of value, followed by Europe and Asia Pacific, respectively

Market Restraints

Health concern associated with the materials used in the printing technology is restricting the market growth. The materials used in printing technology are highly toxic in nature which can cause various health issues.

The products manufactured by using 3D printing technology are less durable than compared to other casting technology. This factor is restricting the adoption of this technology, thus hindering the market growth of the 3D printing technology.

3D Printing Materials Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 1,183.5 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 18.0% 2027 Value Projection: US$ 4,557.1 Mn
Geographies covered:
North America
Europe
Asia Pacific
Rest of the World
Segments covered:
By Product Type: Ceramics, Plastics, Metals, and Others
By Application: Electronics & Consumer Products, Automotive, Medical, Industrial, Education, Aerospace and Others (Military, Architectural, Government, etc.)
Companies covered:
3D Systems, Inc., Arcam AB, Concept Laser GmbH, EOS GmbH Electro Optical Systems, ExOne GmbH, Solidscape, Inc., Optomec, SLM Solutions GmbH, Stratasys, Ltd.

Growth Drivers:
Favorable government support for 3D printing technology is fueling the market growth
Rapid urbanization and industrialization around the globe are propelling the market growth
Restraints & Challenges:
Health concern associated with the materials used in the printing technology is restricting the market growth.
Market Opportunities

Growing demand for personalized products from different countries is expected to offer numerous market opportunities. Increasing awareness regarding the benefits of 3D printers such as produced fewer wastages of materials is again expected to raise the product adoption. Additionally, the flexibility to produce complex geometries that are difficult to be manufactured is further projected to foster the market growth of the 3D printing technology.

Increasing R &D by manufacturer for developing advanced 3D printing technology in response to evolving consumer demand is projected to serve major potential opportunities. The growing need for reducing production time, improve product properties, and also reduce the labor cost is encouraging manufacturers to invest in R &D for developing advanced 3D printing technology. This is expected to foster the market growth over the forecast period.

Figure 2. Global 3D Printing Materials Market – Opportunity Analysis

3D Printing Material | Coherent Market Insights

Global 3D printing materials market was valued at US$ 1,183.5 Mn in 2019 and is forecast to reach a value of US$ 4,557.1 Mn by 2027 at a CAGR of 18.0% between 2017 and 2027

Buy Now This Premium Report to Grow your Business (Single User License: US $4,500): https://www.coherentmarketinsights.com/insight/request-discount/4376

Market Trends/Key Takeaways

Continuous product innovation by the key manufacturer is one of the growing trends in the industry. For instance, in July 2020, Sculpteo and BASF have together launched a new collection of high-performance 3D printing materials. It is designed to be utilized in the automotive industry, each of the three newly-released materials has properties which specifically target production constraints within the sector.

The growing use of thermoplastic materials for producing lightweight and durable products across the medical industry is augmenting the market growth. Metals such as aluminum, cobalt, chromium, and titanium are widely used across the dental industry for producing implants. Thus, the growing demand for 3D printing technology from the healthcare industry for developing implants is estimated to bolster the market growth over the foreseeable period.

Figure 3. Global 3D Printing Materials Market, Revenue Share (%), By Product Type in 2019

3D Printing Material | Coherent Market Insights

The plastics segment dominated the global 3D printing materials market in 2019, accounting for 54.5% share in terms of value, followed by metals and ceramics segment respectively

Global 3D Printing Materials Market - Impact of Coronavirus (Covid-19) Pandemic

The 3D printing materials market is expected to increase over the pandemic period owing to decrease in the demand for 3D printing materials market from various end use industries such as aerospace, automotive etc.

Value Chain Analysis

Figure 4. Global 3D Printing Materials Market, Value Chain Analysis

3D Printing Material | Coherent Market Insights

Competitive Section:

Company Names

3D Systems, Inc.
Arcam AB
Concept Laser GmbH
EOS GmbH Electro Optical Systems
ExOne GmbH
Solidscape, Inc.
Optomec
SLM Solutions GmbH
Stratasys, Ltd.
Few Recent Developments

In July 2017, Solidscape, Inc., the producer of high precision 3D wax printers has announced the launch of the S500 high precision 3D printer along with new castable material, Midas™, and dissolvable support material, Melt™-I.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.