CHICAGO, May 16, 2019 /PRNewswire/ -- According to the new market research report "3D Printing Materials Market by Type (Plastic, Metal, Ceramic), End-Use Industry (Automotive, Aerospace & Defense, Healthcare, Consumer Goods, Construction), Form (Powder, Liquid, Filament), Technology, Application, and Region - Global Forecast to 2024", published by MarketsandMarkets™, the 3D printing materials market size is estimated to grow from USD 1.5 billion in 2019 to USD 4.5 billion by 2024, at a CAGR of 25% during the forecast period. The 3D printing materials market is witnessing significant growth because of the growing demand from industries such as healthcare, automotive, and aerospace & defense.
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The aerospace & defense end-use industry is estimated to account for the largest share of the 3D printing materials market in 2019
Aerospace & defense is the major end-use industry in the 3D printing materials market. North America and Europe are the key markets due to the presence of the aerospace & defense industry. The automotive industry is expected to grow at the fastest rate due to the increasing adoption of 3D printing in the manufacturing of automotive components.
Prototyping is the largest application of 3D printing materials.
Prototyping is the key application in the 3D printing materials market. The 3D printing materials market in the manufacturing application is projected to register the highest growth rate during the forecast period. This high growth of manufacturing application is attributed to the growing adoption of 3D printing in the aerospace & defense, automotive, and healthcare industries.
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North America is expected to be the largest market for 3D printing materials during the forecast period.
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.
Major 3D printing material manufacturers are 3D Systems Corporation (US), Stratasys (US), Arkema SA (France), Materialise NV (Belgium), Evonik Industries AG(Germany), and General Electric (US).
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