The Automotive & Defense industry is expected to spur the market growth of the global 3D printing materials market in the forthcoming years owing to the use of 3D printing materials to production feasibility says a report by RationalStat
Market Overview and Dynamics: The versatile application of 3D printing materials across various industries is expected to fuel the expansion of the global 3D printing materials market in the upcoming years
The global 3D printing materials market is expected to grow at a CAGR of around 18% during the forecast period of 2022-2028. The increase in industrialization in various developing nations across the globe, coupled with rising demand for print advertising are the major factors contributing to the increasing demand for 3D printing materials globally.
Besides, 3D printing is revolutionizing the automotive manufacturing process by making it easier to produce complex components with high efficiency. Also, 3D printing technology has proven to be a highly useful technology for manufacturing complex designed parts.
Furthermore, the market's growth will be aided by the increased use of additive manufacturing to fabricate various industrial parts and items in the forthcoming years. In addition, the high material cost is a major restrain for the 3D printing material market. These high metal material costs are due to the higher purity and composition criteria required for 3D printing.
In addition, the healthcare industry is expected to be the fastest-growing market for 3D printing materials. The aerospace and defense industries, as well as the automobile industry, are driving metal resource demand, which is increasing 3D printing material usage. Furthermore, 3D printing technology has helped the construction industry produce more complex and lighter structures at lower costs, boosting the global market growth.
• Based on material type, Plastics hold a dominant share of the global 3D printing materials market due to the rising demand for high-performance printing materials. However, the metal segment is expected to witness faster growth due to the growing use of metal in the healthcare sector.
• Based on region, Europe holds a prominent share of the global 3D printing materials market due to the rapid adoption of 3D technology across various industries like aerospace & defense, healthcare, automotive, etc.
Competition Analysis: The growing support and initiatives by the government are anticipated to favor the growth of the global 3D printing materials market in the upcoming years
Due to the presence of many well-established companies in the global 3D printing materials market, there is intense competition in the global 3D printing materials market. The use of plastics in the healthcare segment is expected to boost the growth of 3D printing material owing to enhanced flexibility and durability.
Acquisitions, product launches, and partnerships are the identified industry trend in the global 3D printing materials market. Key market players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market.
• In October 2021, Stratasys Ltd. acquired the remaining shares of Xaar 3D Ltd., which is expected to aid the company's growth in the sector of 3D printing materials.
• In October 2021, Evonik Industries created two new photopolymers for 3D printing, namely, INFINIUM RG 3101 L and INFINIUM FL 6300 L. This recently announced product line of synthetic resins is suitable for use in standard photopolymer 3D printing techniques such as Stereolithography (SLA) or Digital Light Processing (DLP).
Some of the prominent players that contribute significantly to the market include 3D Systems Corporation, Stratasys Ltd., Evonik Industries AG, Arkema SA, Materialise NV, General Electric Company, The ExOne Company, Hoganas AB, and Royal DSM N.V. among others.
Key Customers: 3D Printing Materials Market
Leading customers of 3D printing materials from a wide range of industries include Boeing, Airbus, Toyota, Hyundai, Honeywell, ArcelorMittal, Honda, Siemens, Mitsubishi, Michelin, NASA, Samsung, BASF, Pratt & Whitney, BMW, Thales, Safran, and General Electric, among others. Predominantly, aerospace, space agencies, heavy machinery, and automotive industries dominate the consumption of 3D printing materials.
RationalStat has segmented the global 3D printing materials market on the basis of material type, form, and region.
• By Material Type
Polyethylene Terephthalate (PET)
Polyvinyl Alcohol (PVA)
High Impact Polystyrene (HIPS)
Polylactic Acid (PLA)
Others (Acrylonitrile Butadiene Styrene Nylon)
• Others (Nickel and alloys)
o Others (Ceramics etc.)
• By Form
o By Industry
o Aerospace & Defense
o Industrial Manufacturing
o Healthcare & Medical
o Others (Construction, and Consumer Electronics, etc.)
• By Region
o North America
o Latin America
Rest of Latin America
o Western Europe
Rest of Western Europe
o Eastern Europe
Rest of Eastern Europe
o Asia Pacific
ASEAN (Indonesia, Vietnam, Malaysia, etc.)
Rest of Asia Pacific
o Middle East & Africa
Rest of the Middle East & Africa
For more information about this report
Kimberly Shaw, Content and Press Manager
Phone: +1 302 803 5429
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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