3D Printing Materials Market is projected to reach $8,697.9 million by 2027 Globally, at a CAGR of 25.0%, says MarketsandMarkets™
Increasing Demand from the Aerospace & Defense, and Automotive Industries
Chicago, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The report "3D Printing Materials Market is expected to grow from USD 2,850.1 million in 2022 to USD 8,697.9 million by 2027, at a CAGR of 25.0% during the forecast period, as per the recent study by MarketsandMarkets™. The 3D printing materials market is witnessing significant growth because of the growing demand from industries such as healthcare, automotive, and aerospace & defence.
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Browse in-depth TOC on "3D Printing Materials Market”
207 - Market Data Tables
54 - Figures
218 - Pages
List of Key Players in 3D Printing Materials Market:
3D Systems Corporation (US)
Stratasys (US)
Arkema SA (France)
Materialise NV (Belgium)
Evonik Industries AG(Germany)
General Electric (US).
Drivers, Restraints, Opportunities and Challenges in 3D Printing Materials Market:
Driver: Government initiatives to support the adoption of 3D printing
Restraint: High material costs
Opportunity: Adoption of 3D printing technology in home printing
Challenge: Reducing lead time
Key Findings of the Study:
Metals segment is expected to grow with the highest CAGR during the forecast period
Powder segment accounts for the second-largest market share in the global 3D printing materials market
SLS segment accounts for the second-largest market share in the global 3D printing materials market
Prototyping is the largest application of 3D printing materials
Aerospace & defense industry is projected to be the largest end-use industry of the 3D printing materials market during the forecast period
North America holds the largest market share in the 3D printing materials market
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Metals segment is expected to grow with the highest CAGR during the forecast period
Metal materials are highly useful in manufacturing components for the automotive and aerospace & defense industries. Metals are the fastest-growing type of 3D printing material owing to high demand from the healthcare, automotive, and aerospace & defense industries. Metals are available in different grades of colors and majorly consumed in the powder form. Moreover, precious metals, such as gold and silver, are normally preferred for manufacturing jewellery.
Powder segment accounts for the second-largest market share in the global 3D printing materials market
The powder form of 3D printing materials is mainly consumed as metals and special alloys that are expensive compared to other materials. Steel, titanium, silver, gold, aluminum, copper, bronze, silica sand, and a few other materials are available in the powder form. All the metal powders are especially graded materials that can withstand high temperatures. Aerospace & defense and automotive are the major industries that use metal powders; whereas gold, one of the most expensive materials, is generally used in the jewellery and fashion design industries.
SLS segment accounts for the second-largest market share in the global 3D printing materials market
Selective laser sintering (SLS) is one of the major technologies in the 3D printing materials market that works on powder bed fusion technology. The objects created using SLS are generally made with thermoplastic powders. Nylon is one of the widely used types of plastics that are used to print 3D objects using this technology. This process is very similar to direct metal laser sintering (DMLS) because SLS also uses a thermal energy source to induce fusion between powder particles. DMLS is used to process metals, while SLS is used to create objects using thermoplastic powders. SLS is very useful in producing parts with complex geometries and good mechanical properties.
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Prototyping is the largest application of 3D printing materials
3D printing materials are mainly used in the prototyping application to showcase how the 3D-printed object looks like. The prototyping application is highly useful to increase the adoption of 3D printing across various sectors, such as automotive, aerospace & defense, healthcare, education, and construction.
Aerospace & defense industry is projected to be the largest end-use industry of the 3D printing materials market during the forecast period
The aerospace & defense industry has a specific requirement for lightweight & high strength components, with accurate and precise designs. Metals such as stainless steel, aluminum, and titanium, are used extensively in this industry as they can withstand high temperatures and are resistant to wear & tear. Therefore, the demand for high strength materials to manufacture complex geometries is a major factor driving the growth of the 3D printing materials market in the aerospace & defense end-use industry.
North America holds the largest market share in the 3D printing materials market
North America is expected to dominate the 3D printing materials market during the forecast period due to the substantial adoption and manufacturing of products based on 3D printing technology. The increasing demand from the aerospace & defense, medical & dental, and automotive end-use industries in North America are also driving the market in the region. In addition, strong support from the governments for 3D printed goods over conventional goods and the presence of key manufacturers in the region are expected to drive the market further.
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