Middle East 3D Printing Materials Market Regional Analysis and Industry Growth by Forecast to 2025

As per a recent survey by FMI, the global three-dimensional (3D) printing materials market is poised to total US$ 5.1 Bn by 2031, in comparison to the US$ 1.24 Bn registered in 2020.

Increasing adoption of 3D printing technology across the industries such as medical, industrial, construction, and others is propelling the demand in the market. Driven by this, the market is estimated to expand at over 14% CAGR over the forecast period 2021-2031.

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Advanced technologies such as 3D printing are extensively finding inroads into the automotive industry owing to its high preferabilty for mass production and low risk of errors. It is increasingly being used for additive manufacturing of automotive components such as front bumpers, suspension wishbones, ducting, battery covers, and others.

Hence, demand for high-performance materials for the production of aforementioned components is anticipated to create high revenue-generation opportunities in the market.

As per FMI, North America is estimated to emerge as the dominant market in terms of region, expanding at 14% CAGR through 2031. Increasing utilization of 3D printing technology for the construction of buildings across the U.S. and Canada is favoring the sales of 3D printing materials.

In terms of material-type, metals are projected to remain highly sought-after materials in the market, projecting sales growth by 11.5% year-on-year (YoY) between 2020 and 2021. Surging demand for cobalt-nickel alloys, steel, and titanium in 3D printing owing to their durability, strength, and low carbon emission attributes is driving the growth in the segment.

"Rising application scope of 3D printing technology across aerospace and defense sector to benefit from superior quality production, reduced production time, and declined labor cost is expected to accelerate the growth in the market," says a FMI analyst.

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Key Takeaways from 3D Printing Materials Market Study

Sales in the U.S. are estimated to total US$ 514 Mn, increasing by 10.9% YoY between 2020 and 2021.
Germany is anticipated to account for a significant share in the Europe market, registering an exceptional YoY growth of 12.7% in 2021.
China is forecast to emerge as the most attractive market in East Asia, accounting for around 70% of the sales through 2021.

Japan and South Korea are expected to account for more than 2.7% of the total value share by the end of 2021.

On the basis of form, the powder form segment is projected to account for the largest share in the market, expanding at 13.5% CAGR over the assessment period.
Competitive Landscape

Leading companies in the global market are Stratasys, Ltd., Sandvik AB, Covestro AG, Arkema S.A. and EOS Gmbh Electro Optical Systems and others. These players are anticipated to collectively account for nearly 42% of the total sales in 2021.

Key participants are focusing on adopting inorganic strategies such as partnerships, collaborations, mergers, and acquisitions to strengthen their market presence. Some of the players are aiming at launching novel products and increasing their production capacity to gain competitive edge. For instance,

In October 2021, Evonik Industries, a German speciality chemicals company, announced extending its product portfolio by launching two new photopolymers for 3D printing - INFINAM® FL 6300 L and INFINAM® RG 3101 L. These products are made using synthetic resins and are suitable for use in standard 3D printing techniques such as stereolithography (SLA).

In October 2021, Stratasys Ltd., a global leader in additive technology solutions, announced acquiring remaining share Xaar 3D Ltd. from a U.K.-based company Xaar plc. The acquisition will assist the company to strengthen its footprint across 3D printing materials sector.
Some of the key players operating in the market profiled by FMI are:

Covestro AG
Arkema S.A.
Sandvik AB
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.
Markforged Inc.

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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

This release was published on openPR.