New York, USA, Jan. 17, 2023 (GLOBE NEWSWIRE) -- 3D Printing Materials Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “3D Printing Materials Market Information by Form, Materials, And Region - Forecast till 2030”, the market is estimated to grow at a 20.45% CAGR to reach USD 14,274.2 Million by 2030.
Market Synopsis
A digital file is used in 3D printing to create three-dimensional things. In 3D printing, also known as additive manufacturing, successive layers of material are applied until the desired product is produced. Compared to traditional manufacturing methods like injection molding and subtractive production, 3D printing is a relatively speedy manufacturing technique. The growing demand for 3D printing in materials from various end users, including the aerospace, automotive, defense, and healthcare industries, is driving the market. The finished item and the 3D printers are connected by a digital file detailing the planned object's design and the materials used. In-depth analysis of the 3D printing materials, also referred to as 3D printing materials. Three main kinds of these materials are used: filament, powder, and liquid, with the latter being the most widely used.
With strong products and services, 3D material makers are increasing their market share in numerous industries. They are concentrating on creating innovative fabrication techniques for intricate metal-plastic composite structures. Future 3D printing materials are expected to be impacted by an increase in the production of next-generation electronics. The existing trends and potential future growth of the market for 3D printing materials are also discussed. The use of metals, ceramics, and polymers (plastics) in 3D printing is widespread. The main drivers of rising demand for 3D printing technology are decreased weight, increased strength, decreased inventory, and mass customization. These characteristics will continue to drive demand.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 14,274.2 Million |
| CAGR | 20.45% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Form, Materials, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Extensive properties possessed by 3D printing technology in various end-use industries. |
| Many more government initiatives concerning developing GDP and development in educational. |
Market Competitive Landscape:
The major companies in the 3D printing materials market are:
- Arkema S.A.
- Koninklijke DSM N.V.
- Evonik Industries AG
- CeramTec GmbH
- SABIC
- BASF SE
- DuPont
- ExOne, Stratasys, Ltd.
- Sandvik AB, 3D Systems, Inc.
- Höganäs AB
- Materialise NV
Market U.S.P. Covered:
Market Drivers:
Due to their expanding use in the aerospace and automotive industries, 3D printing materials are in higher demand. The expansion of the automobile sector in North America's and Europe's growing economies will probably promote the expansion of the worldwide market. Additionally, favorable government initiatives are projected to drive the market during the projection period. Additionally, the worldwide market for 3D printing materials would benefit greatly from innovation and expansion in 3D printing technology and materials. The market for 3D printing materials is growing due to the increased use of technology in the healthcare industry. Creating tissues, prosthetics, and implants is possible using 3D printing. Because of their great speed and precision, 3D printers are becoming more and more popular. Increased investment in 3D printing technology is anticipated to present suppliers in the sector with lucrative growth prospects.
Reduced waste, more complicated designs, cost efficiency, and enhanced modification are just a few benefits of 3D printing. This has inspired businesses from various industries to use the technology for part manufacturing. Because incompatibility might result in a patient reacting to a foreign body, manufacturers in the market are concentrated on creating safe and compatible materials. Inflammation, a delay in wound healing, and a few other immunological reactions may come from this. Dentistry is one field where cutting-edge technology is being used. As a result, the rise in the demand for dental implants is anticipated to fuel the market's growth for 3D printing materials.
Market Restraints:
Materials are used for 3D printing in unconventional forms, such as powder, filament, and liquids. The cost of materials is increased by the processing necessary to convert normal materials into those used for 3D printing. The materials used in industrial-grade 3D printers for the automotive industry are very expensive compared to conventional manufacturing. In addition, 3D printers are difficult to use and manage because they need specific tools and equipment and high-voltage power sources. One of the key challenges limiting the market's growth is the cost of 3D printer-compatible materials, which may be up to 10-15 times more expensive than materials used in conventional manufacturing techniques.
Browse In-depth Market Research Report (110 Pages) on 3D Printing Materials https://www.marketresearchfuture.com/reports/3d-printing-material-market-1912
COVID 19 Analysis
The AM industry's revenue decreased for a few months during the coronavirus outbreak. However, it swiftly recovered due to rising R&D demand and advancements in the 3D printing technologies industries. Due to the interruption in the global supply chain caused by the COVID-19 epidemic, the manufacturing of 3D printing materials has suffered. The businesses are actively preserving the health and well-being of their staff members while assisting the government in sustaining vital industries like power generation, healthcare, and food production. Businesses in numerous nations saw greater challenges in resuming production, orders, and markets, as well as pandemic prevention. Additionally, the downstream and upstream businesses for 3D printing materials are experiencing a problem. Many businesses integrate the Internet and new technologies to innovate, develop, transform, and upgrade in response to market changes and combat the economic crisis brought on by the epidemic.
Market Segmentation
By materials, the market includes metal powder & alloys, nickel & its alloys, stainless steel, titanium & its alloys, aluminum & its alloys, and precious metals. By form, the market includes powder and filament.
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Regional Insights
The Asia-Pacific region is projected to be the fastest-growing market for 3D printing materials globally due to its sizable 3D printing materials industry. Additionally, it is predicted that the demand for 3D printing materials will expand during the forecast period due to increased government spending on infrastructure improvement in developing countries like China and India. Europe has been closely observing the Asia-Pacific market due to the significant need for 3D printing materials in the automotive and defense sectors. The rising demand for the product across a range of applications, including the automobile and defense industries, drives the North American market.
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