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3D Printing Materials Market is Anticipated to Expand at a 14.0% CAGR during the Forecast Period of 2031, Surpassing US$ 5.1 billion
3D Printing Materials Market
In addition to this, increasing adoption of 3D printing in the building and construction sector is expected to augment the growth of the market. Furthermore, the expansion of automotive, aerospace, electronics and medical is anticipated to remain key growth driver of the global market of 3D printing materials.
Raw materials such as plastics, ABS, PLA, metals & powders, carbon fibers, resins are some commonly used 3D printing materials. Growing trend of utilizing 3D printers to manufacture various kinds of small and large products are boosting the market.
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As per FMI, North America is expected to remain a lucrative pocket in the global 3D printing materials market. Growth is attributable to the swift commercialization of novel technologies like 3D printing in various industries across the region.
Key Takeaways:
By material type, sales in the metal segment are forecast to grow at a 14.9% CAGR over the assessment period.
Based on form, demand for powder 3D printing materials is projected to increase at a 13.5% CAGR through 2031.
In terms of applications, sales in the automotive sector are forecast to gain traction at a 13.6% CAGR over the forecast period.
The U.S. will emerge as a lucrative pocket in the North America 3D printing materials market.
Sales in the China 3D printing materials market are projected to increase at a 15.2% CAGR through 2031.
"Increasing adoption of 3D printing in the healthcare sector and the growing demand for 3D printed plastics for vehicle interiors are expected to drive sales in the market over the assessment period," says an FMI analyst.
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Competition Landscape
Key market participants in the global 3D printing materials market elaborated in the report includes Covestro AG, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc.
Key market participants are focusing on development of innovative 3D printing products to improve their product portfolios. Besides this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.
For instance:
In April 2021, Sandvik and its subsidiary BEAMIT Group announced a new capacity for additively manufacturing components in super-duplex stainless steel, an alloy that combines mechanical strength with extremely high corrosion resistance.
3D printing materials Market By Category
By Material Type:
Plastics
Metals
Ceramics
Others
By Form:
Filament
Powder
Liquid
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
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Competitive Landscape
Leading players operating in the global 3D printing materials market are investing in partnerships, collaborations, mergers, and acquisition to expand their global presence. In addition to this, they are investing in research and development to improve their product portfolios.
For instance:
In October 2021, Stratasys Ltd. acquired the remaining portion of Xaar 3D Ltd., which is expected to boost the company's growth in the sector of 3D printing materials.
In October 2021, Evonik Industries created two new photopolymers for 3D printing, namely, INFINAM® RG 3101 L and INFINAM® FL 6300 L. This recently announced product line of synthetic resins are suitable for use in standard photopolymer 3D printing techniques such as SLA or DLP.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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