- Companies in Additive Manufacturing Gain from Access to Better-Performing 3D Printing Materials; Need for Customization of Products and Declining Cost of 3D Printers to Boost Demand in Healthcare Industry
- Asia Pacific to Garner Highest Growth Rate during 2019 - 2027; Lack of Standardization of Materials Key Deterrent to Steady Evolution of 3D Printing Materials Market
ALBANY, New York, July 1, 2020 /PRNewswire/ -- A wide variety of 3D printing materials with different performance attributes have helped end users utilize 3D printing or additive manufacturing technology for fabricating materials of excellent dimensional stability. Ease of use, dimensional stability, and cost-effectiveness will shape demand dynamic of the 3D printing materials in diverse industries such as electronics, automotive, consumer goods, medical, and aerospace.
The global 3D printing materials market is expected to rise at promising CAGR to reach worth of US$ 9.5 Bn by the end of 2027.
Analysts at Transparency Market Research assert that the use of plastics has risen to popularity due to their durability, lightweight feature, and flexibility in fabrication. They further opine that the drive for customization has expanded the avenue for application in various 3D printing materials markets.
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Key Findings of 3D Printing Materials Market Report
- Healthcare industry key to new opportunities in 3D printing materials; 3D printing of organs present incredible scope
- Regionally, North America led the market with 27% share in 2018
- Asia Pacific anticipated to expand at most attractive CAGR during 2019 – 2027
- China and Japan key to substantial growth prospects for the regional market
- Rest of the World (RoW) to garner tepid growth during forecast period
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3D Printing Materials Market: Key Driving Factors and Promising Avenues
- The 3D printing materials market has made attractive strides on the back of demand for versatile materials for application in 3D or additive manufacturing.
- Wide range of industries have been utilizing 3D printed materials due to their dimensional accuracy and low cost.
- Material manufacturers are relentlessly engaging in research for fabricating new 3D printing materials, thus expanding the scope of the 3D printing materials market.
- Adoption of state-of-the-art 3D printing technologies is spurring the demand for new resins and metals in end-use industries.
- 3D bioprinted healthcare materials will pave the way for meeting
the personalized demand for tissues and organs that have amazing architectural accuracy
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Key Impediments to 3D Printing Materials Market Stakeholders
The high cost of novel 3D printing materials and the lack of standardization of 3D printing processes are two key bottlenecks that stakeholders in the 3D printing materials market have faced.
On the other hand, the demand has gained traction in electronics sector. Also, companies are focusing on the dual objective of cost-effectiveness and high-performance to attract businesses in end-use industries. Further, top players constantly mull broadening their product portfolios in order to consolidate their shares in the 3D printing materials market.
Some of the well-entrenched players in the 3D printing materials market are Optomec, Stratasys Ltd., Solidscape Inc., Arcam AB, 3D Systems, Inc.,
Analyze Global 3D Printing Materials Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
3D Printing Materials Market: Regional Assessment
On the regional front, North America held the dominant share in 2018. Extensive research and development activities in order to meet the needs of high-end 3D printing materials in the region has spurred opportunities over the past few years. Further, vast strides have been made in 3D printing techniques and technologies as is evident the pace of their commercial use. Europe has also been a lucrative market.
Meanwhile, Asia Pacific is fast emerging as a substantially lucrative region in the global 3D printing materials market. A large chunk of demand for 3D printing materials has come from India and China.
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The 3D Printing Materials market can be segmented as follows:
Product Segment Analysis
- Others (Including wax and laywood)
- Electronics & Consumer Products
- Others (Including military and architecture)
- North America
- Asia Pacific
- Rest of the World
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Biocompatible 3D Printing Materials Market - Global biocompatible 3D printing materials market was valued at ~US$ 318 Mn in 2018, and is anticipated to expand at a CAGR of ~16% from 2019 to 2027.
The usage of 3D printing in the medical industry is expected to rise during the forecast period, due to the various advantages offered by 3D printing over traditional printing.
3D Printing Metals Market - Growing utilization of these materials in several high-temperature engineering applications most notably in the aerospace and automotive industry have encouraged the prospects of the 3D printing metals market. In recent years, a fast emerging application avenue is in the making of medical and dental implants.
3D Printing Ceramics Market - Increase in demand for product modification and development, and rise in demand for 3D printing in the dental industry ate major drivers of the 3D printing ceramics market.Increase in R&D investments by various end-use industries to sustain in the market is creating opportunities for the market.
Polymers Market for 3D Printing Applications - Currently, developed areas of North America and Europe are significant regions of the polymers market for 3D printing applications. . A majority of manufacturers of polymers for 3D printing applications are based in these regions. Research and development activities are also being carried out in these regions. Moreover, the 3D printing industry is expanding rapidly across the world.
Automotive 3D Printing Market - The global automotive 3D printing market is primarily being driven by reduction in overall time of rapid prototyping of automotive parts, innovation in new printing materials for 3D printing and increasing government investments in the research & development project related to 3D printing.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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