(2019 – 2024) “3D Printing Materials Market” Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and 3D Printing Materials Analysis. The 3D Printing Materials market is expected to register a CAGR of approximately 28.55% during the forecast period of (2019 – 2024).
3D Printing Materials Market Report Covers Leading Manufacturers: 3D Systems, Arcam AB, Envisiontec, EOS Gmbh, Exone GmbH, Mcor Technologies Ltd , Materialise NV, Optomec, Stratasys Ltd, Hoganas AB, Concept Laser and Renishaw
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The 3D printing materials market is expected to register a CAGR of 28.55%, during the forecast period (2018 – 2023). The scope of the market covers various holistic solutions offered by the leading vendors of the market. The scope is limited to the end-user applications in the industrial segment.
With rapid advances in materials such as polymers and metals, 3D product manufacturing is evolving from prototyping to becoming a functional part of fabrication. New materials, shorter lead time and innovative finishes, while adhering to standards such as FDA, ASTM and ISO, are also enabling this technology to be integrated into manufacturing processes and supply chains. Further, the decreased prices for 3D materials and machines, coupled with growing expertise and awareness has increased the availability of and demand for these materials.
Increased investments in R&D to develop improved software and technology, coupled with the introduction of new combinations of printing materials are expected to spur the development of new equipment and applications, bolstering the growth of 3D printing materials market.
Demand for Light Weight Construction in Automotive and Aerospace Industry
Lightweight construction, flexibility in design & fabrication and energy conservation have spurred the demand for high-performance construction processes and materials across the aerospace and automotive industries. 3D additive manufacturing makes this design-driven construction a reality, enabling the production of complex structures that are stable, strong, lightweight, and offer capabilities beyond traditional subtractive manufacturing techniques. In the automotive landscape, owing to the of demand for high-strength parts to endure the rigors of high-speed racing, as well as the need to build complex geometries, and light weight construction, the automotive market giant Lamborghini hired Stratasys to design and print 3D automotive parts and components further, major market players in the aerospace industry, such as Boeing and Airbus have invested into developing 3D manufacturing-based airplane components and parts. For instance, Airbus hired Solid Concepts Inc. to design and produce 3D manufacturing-based titanium parts for structural components on a commercial aircraft, 787 Dreamliner aircraft. Also, with the added benefits of eliminating the need for custom tooling and design, the 3D production-based technology delivers cost-effective, on-demand, low volume as well as full batch production, making it an attractive alternative for the manufacture of aircrafts and automobiles. This has been a major driving force for the adoption of 3D printing materials.
Plastics to Hold the Largest Market Share
Plastics are widely used in the industry owing to many advantages such as cost-efficiency, ease of manufacture, etc., and a variety of material properties offered by the change in composition. Aerospace, medical and automotive industries lead the market for 3D printing materials. Plastics are used in the form of thermoplastics and many other polymers, such as Acrylonitrile butadiene styrene (ABS) Polylactic acid (PLA) Polyvinyl alcohol (PVA) Polycarbonate for many applications, such as the manufacture of prototypes hearing aids, etc. Industrial 3D printing manufacturing and materials are seeing a shift from prototype to production, indicating increasing industrialization with an increase in efficiency and reliability of the manufacturing process. In the medical industry, especially with dental applications, such as the prototyping of teeth was done by a clay modeled plastic, which can now be done by an orthodontist through a 3D scan of the teeth and create a model by 3D manufacturing. The number of applications in the medical field are also escalating with more than 15 million hearing aids printed and various printed dental appliances from aligners to crowns. All these factors have driven the adoption of plastic as a 3D printing material market.
United Kingdom to Hold the Second Largest Market in Europe
The UK government is making huge investments for developing 3D printing’s potential in aerospace, by investing EUR 100 million into a new research center in Coventry, as well as launching a competition, giving USD 10 million funding to aerospace firms. This is driving the companies to increasingly use 3D manufacturing. Applications such as printing aircraft wings and parts in microgravity are foreseeable in the future. The UK is investing in 3D manufacturing R&D to maintain its place at the forefront of innovation in the global aerospace market. The concentration of the UK’s higher education sector into 3D manufacturing needs to be more broadly recognized; primarily, the capabilities that have been developed through the support of Engineering and Physical Sciences Research Council support for innovative manufacturing. The impact on the plant locations of 3D manufacturing is diverse ranging from reducing costs and becoming more competitive with 3D printing. Because of the short and less effort-intensive value chain, companies perceive 3D product manufacturing as a chance to re-shore manufacturing back to western countries. This expectation is highest in the United Kingdom, with more than 60% of the population anticipating this change.
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Reasons to Purchase 3D Printing Materials Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
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