Redding, California, Sept. 13, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “3D Printing Materials Market by Type (Polymer, Metal, Ceramics & Composites), Form (Filament, Liquid, Powder), Technology (FDM, SLA, Polyjet, Multijet, Binder Jetting, EBM), Application — Global Forecast to 2028”, published by Meticulous Research®, the 3D printing materials market is expected to grow at a CAGR of 26.7% from 2021 to 2028 to reach $9.86 billion by 2028.
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3D printing or additive manufacturing is a process of manufacturing three-dimensional solid objects from a digital file. 3D printing technology refers to various processes in which material is deposited, joined, or solidified with computer control to create a three-dimensional object. This technology creates an object by laying down successive layers of material until the object is created. Each of these layers can be seen as a thinly sliced cross-section of the object.
The growth of this market is backed by growing demand for polymers in 3D printing; mass customization of various functional parts for industrial equipment, jewelry, and consumer goods; and government initiatives to support the adoption of 3D printing.
However, the high cost of 3D printing materials obstructs the growth of this market to some extent. Lack of awareness of 3D printing technology among supplies, buyers, users, and lack of skilled laborers to perform 3D printing operations is challenging the 3D printing materials market.
The Impact of COVID-19 on the 3D Printing Materials Market
The COVID-19 pandemic has an overall negative impact on the 3D printing materials market worldwide. Many countries are using various 3D printing materials for manufacturing new products such as PPE (face shields and eye protectors), ventilators, and nasal swabs to fight against COVID-19, therefore creating a spike in the growth of the 3D printing materials market globally. Furthermore, the global 3D printing materials market is expected to recover in 2021 due to the healthcare and industrial sectors' high adoption of 3D printing technology. However, healthcare is the least impacted sector due to the high demand for medical equipment and devices for COVID-19 treatment.
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The growing demand for fast manufacturing of PPE kits, masks, face shields, and medical equipment, among others, by using 3D printing materials to fight against the COVID-19 pandemic, is likely to accelerate the growth of this market over the coming years.
Future of 3D Printing Materials in the Educational Sector
3D printing in education has created various opportunities in primary and secondary schools, universities, libraries, technical colleges, and other educational sectors. Factors such as improvement in learning, development of skills to solve complex problems easily, and a better understanding of scientific concepts have encouraged various educational institutions to adopt 3D printing technology. The 3D-printed objects manufactured from various 3D printing materials help the students develop analytical skills by closely observing the objects. Thus, the growing adoption of 3D printing in the educational sector is an opportunity for the growing demand of the 3D printing materials market globally.
Moreover, many countries have started introducing 3D printing technology in schools and universities. For instance, the Japanese Economy, Trade, and Industry Ministry (METI) choose several universities and technical schools to receive a subsidy for two-thirds of their expenses to introduce 3D printing technology in the schools. Also, Japan joined countries including Britain and Australia following the U.S. in introducing 3D printing into schools and other educational sectors.
To provide efficient analysis, Meticulous Research® has segmented this market based on type (polymers { photopolymer, polylactic acid, acrylic styrene, polyamide, polycarbonates, polypropylene, thermoplastic elastomers, and other 3D printing polymers}, metals {steel, titanium, nickel, aluminum, copper, cobalt-chrome, and other 3D printing metals}, ceramics & composites), form (powder, filaments, liquid), technology (FDM, SLS, SLA, DMLS, polyjet, multijet fusion, DLP, binder jetting, EBM), application (consumer products {electronic appliances, jewelry, artistic items, and other products}, automotive parts, industrial application {equipment & machines, goods & materials}, healthcare, aerospace & defense { prototype weapon, body & spare parts} and other applications), and geography (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa).
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Based on type, the 3D printing materials market is mainly segmented into polymers, metals, and ceramics & composites. The polymers segment is expected to account for the largest share of the 3D printing materials market in 2021. The large share of this segment is mainly attributed to the high adoption of 3D printing technology by bearing manufacturers, and the growing use of 3D printed products due to lightweight, corrosion resistance, toughness, and high strength. However, the ceramics & composites segment is expected to grow at the highest CAGR by value during the forecast period.
Based on form, the 3D printing materials market is segmented into powders, filaments, and liquids. The powders segment is expected to account for the largest share of the overall 3D printing materials market in 2021. The large share of this segment is mainly attributed to the increasing demand for powder-based 3D printing for processing industrial metals and increasing demand for using powder-based additive manufacturing for wildlife conservation applications. However, the filaments segment is expected to grow at the highest CAGR during the forecast period.
Based on technology, the 3D printing materials market is segmented into fused deposition modeling (FDM), selective laser sintering (SLS), stereolithography (SLA), direct metal laser sintering (DMLS), polyjet, multijet fusion, digital light processing (DLP), binder jetting, and electron-beam melting (EBM). The fused deposition modeling (FDM) segment is expected to account for the largest share of the 3D printing materials market in 2021. The large share of this segment is mainly attributed to the ability to adjust several process parameters, such as both nozzle and build platform temperatures, and the high demand for using high-performance thermoplastics in FDM technology to manufacture customized parts and prototypes. However, the electron beam melting (EBM) segment is expected to grow at the highest CAGR during the forecast period.
Based on application, the 3D printing materials market is segmented into consumer products, automotive parts, industrial applications, healthcare, and aerospace & defense. The consumer products segment is expected to account for the largest share of the 3D printing materials market in 2021. The large share of this segment is mainly attributed to factors such as growing demand for customized 3D printed consumer goods, high adoption of 3D printing technology by industrial designers, mechanical engineers, packaging designers, and graphic artists to understand the aesthetics and functional appeal of the products. However, the healthcare segment is expected to grow at the highest CAGR during the forecast period.
Geographically, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to witness the fastest growth by value during the forecast period. The factors attributed to the high growth of this region are increasing government-led strategies and policies to support the use of 3D printing technology in countries such as China, Japan, and South Korea and high adoption of 3D printing technology across healthcare, construction, and education industries. China is considered the biggest force behind 3D printing growth in Asia. Factors such as rising initiatives by government and manufacturing companies to promote the 3D printing industry; and introducing various AM pilot projects across industries such as the medical, cultural, and education is contributing to the increasing demand for 3D printing materials across the region. However, North America is estimated to account for the largest share of the global 3D printing materials market in 2021.
The global 3D printing materials market is dominated by the top five players, namely, Stratasys Ltd. (Israel), Evonik Industries AG (Germany), 3D Systems Corporation (U.S.), Materialise NV (Belgium), and The ExOne Company (U.S.). The other key players operating in the 3D printing materials market are Proto Labs, Ltd., (U.S.), HP Inc. (U.S.), EnvisionTEC, Inc. (U.S.), Markforged, Inc. (U.S.), Tethon 3D (U.S), EOS GmbH (Germany), Zortrax (Poland), Sculpteo (France), Lithoz GmbH (Austria), IC3D, LLC. (U.S.).
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Scope of the Report:
3D Printing Materials Market, by Type
- Polymer
- Photopolymer
- Polylactic Acid
- Acrylic Styrene
- Polyamide
- Polycarbonates
- Polypropylene
- Thermoplastic Elastomers
- Other Polymers
- Metal
- Steel
- Titanium
- Nickel
- Aluminum
- Copper
- Cobalt Chrome
- Other Metals
- Ceramics & Composites
3D Printing Materials Market, by Form
- Filament
- Liquid
- Powder
3D Printing Materials Market, by Technology
- Fused Deposition Modeling (FDM)
- Selective Laser Sintering (SLS)
- Stereolithography (SLA)
- Direct Metal Laser Sintering (DMLS)
- PolyJet
- Multi Jet Fusion
- Digital Light Processing (DLP)
- Binder Jetting
- Electron-beam Melting (EBM)
- Other Technologies
3D Printing Materials Market, by Application
- Consumer Products
- Electronic appliances
- Jewelry, Artistic Items, and Other Products
- Automotive Parts
- Industrial Application
- Equipment & Machines
- Goods & Materials
- Healthcare
- Aerospace & Defense
- Prototype Weapon
- Body & Spare parts
- Other Applications
3D Printing Materials Market, by Geography
- North America
- U.S.
- Canada
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of APAC (RoAPAC)
- Europe
- Germany
- U.K.
- Italy
- France
- Russia
- Spain
- Rest of Europe
- Latin America
- Middle East & Africa (MEA)
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