The high demand for 3D printing media is due to the rapid adoption of additive manufacturing in North America and Europe. Regardless of this, the market is also driven by the presence of robust aerospace industry and a growing automotive industry that uses printed materials for the manufacture of components.
3D Printing Materials Market Size and Growth Rate:
3D Printing Materials Market size was valued at USD 558.4 million in 2017 and is expected to reach USD 1,365.6 million in 2023, with a CAGR of 16.7% over the forecast period.
3D Printing Materials Market Growth Demand:
The high demand for 3D printing media is due to the rapid adoption of additive manufacturing in North America and Europe. Regardless of this, the market is also driven by the presence of a robust aerospace industry and a growing automotive industry that uses printed materials for the manufacture of components.
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3D Printing Materials Market Growth Drivers and Challenges:
With the growing popularity of 3D printing in a wide range of manufacturing processes, the 3D printing media market is expected to grow at a considerable rate. In the construction industry, 3D printing technology can be used to build difficult structures, overcoming the limitations of conventional construction practices. With the broader field of personalization of 3D printing, the market is expected to grow in the coming years.
The high cost of the equipment is one of the main limitations observed in the market for 3D printing media. The high cost of the machines increases the overall investment required to set up a 3D printing facility. At the same time, the process takes long time and the time required to print the object depends on several factors, such as the number of layers to be printed and the speed of the printer, which has a negative impact on the growth of the market.
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3D Printing Materials Market Growth, Share Analysis Based on Segmentation:
Based on type:
The category of others includes wood and stone, sand, marble, waxes and edible materials. In terms of volume, the category of plastics had the largest share, representing more than 40.0% of the market in 2017. Plastic is preferred in 3D printing because it is relatively inexpensive and can be easily melted to form the final product.
Based on Application:
The category of others includes fashion, electronics, art and sculpture, jewellery, gastronomy and architecture. The aerospace and defence industry generated more than 35.0% of revenues in the market in 2017. Titanium is one of the most expensive materials used in 3D printing, mainly in aerospace and defence applications.
3D Printing Materials Market – Regional Existence:
Regionally, the APAC 3D printing materials market will show the fastest growth, with a compound annual growth rate (CAGR) of more than 15.0% during the forecast period. The potential growth is attributed to the expanded industrial base, favorable government policies and the financing of research and development, which has led to an increasing demand in the APAC region. China leads the APAC market, as a result of the growing penetration of 3D printing in country’s construction and electronics sectors.
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3D Printing Materials Market – Major Key Players covered in this report:
- TLC Korea
- TLC Korea
- 3D Systems
- LG Chem
- 3D HUBS
- 10+ More Key Players
3D Printing Materials Market – Detailed Segmentation:
3D Printing Materials Market – By Type:
3D Printing Materials Market – By Application:
- Medical and Dental
- Consumer goods
- Other Sectors
3D Printing Materials Market – Geographical Segmentation:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Rest of the world
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