3D Printing Materials Market Growing Demand from Automotive and Other End User Industries

As demonstrated by Precision Business Insights (PBI), the latest report, 3D Printing Materials market is expected to be valued at USD 2,617.3 million in 2023, growing at a 21.8% CAGR from 2024 to 2030. The key drivers for the growth of global 3D Printing Materials include advancements in 3D printing technology, rise in demand from automotive, healthcare, and other end-user industries, and increase in investments for the 3D printing technology in developed and emerging countries across the globe

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The 3D Printing Materials Market Detailed Segmentation:
Based on the Form, the market is segmented into the following:
• Powder
• Liquid
• Filament

Based on the Type, the market is segmented into the following:
• Plastic
• Metal
• Ceramic
• Others

Based on the technology, the market is segmented into the following:
• FDM
• SLS
• SLA
• DMLS
• Others

Based on the application, the market is segmented into the following:
• Prototyping
• Manufacturing
• Others

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Based on the End-User the market is segmented into the following:
• Automotive
• Aerospace & Defence
• Healthcare
• Consumer Goods
• Construction
• Others

Based on the end-user segment, the global 3D printing market is segmented into Automotive, Aerospace and Defense, Healthcare, Consumer Goods, Construction and others. Among all of these, the automotive sector is anticipated to account for a large revenue share in the global 3D printing materials market, with a value share worldwide. One of the Directly popular and most persistently used 3D printing technology in the automotive sector is Fused Filament Fabrication (FFF). Its leverage is the possibility to use various materials, the properties of such are similar to plastic, which in turn, drives the growth of the automotive sector in 3D printing materials.

For instance, as demonstrated by the China Academy of Information and Communication Technology, through the first two months of the 2022, the automotive electronics fabricating industry maintained a steady expansion. The added value of major automotive electronics from January to February 2022 raised by 12.8% yearly; although, overall automotive industrial growth stood at 8.4% through the same period. Moreover, the national policies, along with the rapid development of automotive and electronics infrastructure, technology advancement is fuelling the demand for the global 3D printing materials market.

Based on the geography the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

The Asia Pacific market is expected to increase in the 3D Printing Materials market over the forecast period. The Asia Pacific market is expected to grow in the future due to increasing number of end user industries, customized products, 3D components, technology advancement in the printing sector, medical devices, and others in emerging countries assembled with efforts to improve healthcare infrastructure and awareness, has opened up a proficient growth opportunity. Moreover, Governments in the developing countries are also implementing favorable policies. which provides a conductive environment for 3D Printing Materials manufacturers and market stakeholders in emerging countries. Furthermore, in several economies such as India, Malaysia, Vietnam, and Indonesia were anticipated to grow tremendously in automotive production. For instance, as demonstrated by the International Organization of Motor Vehicle Manufacturers (OICA) In 2022, The entire fabrication of motor vehicles in India and Indonesia Stood at 5,523,653 and 1,460,143 units, correspondingly, showing growth of 25% and 32% compared to previous year. North America held highest market share during the estimated period owing to the presence of well-developed healthcare infrastructure, technology advancement, and favorable regulatory policies across the region.

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Strategic New Product Launches, Mergers, Acquisitions, and Concurrence are the key tactics adopted by market players:
In the recent research the 3D Printing Materials market further divulges that the key players are intensively adopting strategies such as the launch of newer components, 3D appliances launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In April 2023, Stratasys obtained Covestro AG's additive fabricating materials business. The acquisition encompasses of product portfolio of nearly 60 additive fabricating materials, R&D facilities, global development and sales teams beyond Asia, the U.S., and Europe, and a wide range of IP portfolios, including hundreds of patents and pending patents.

Some of the major key players in the 3D Printing Materials Market are Arkema S.A., Koninklijke DSM N.V., ExOne, Stratasys Ltd., Sandvik AB, 3D Systems, Inc, Höganäs AB, Evonik Industries AG

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This release was published on openPR.