3D Printing Materials Market: Segmented: By Product Type(Polyjet, Fuse Deposition Modeling, Selective Laser Sintering, Stereolithography and Colorjet); By Material Type(Polymer, Plastic, Metal, Ceramic and Composite); By Form (Powder, Liquid and Filament); By End-use Industry(Automotive, Healthcare, Aerospace & Defense, Electronics & Consumer Goods, Construction, Industrial, Education & Research, Personal/Prosumer and Others];and Region - Analysis of Market Size, Shares & Trends for 2016-2019 and Forecasts to 2030.
3D printing materials market is expected to exceed USD 3,597.32 million by 2030 from USD 1,141.28 million in 2019 at a CAGR of 20.99% throughout the forecast period i.e. 2020-2030.
3D printing is a production procedure where an object is manufactured in three magnitudes by layering of objects in sequence precisely from a pre-defined computer file comprising of the digital 3D model. The procedure is also known as Additive Manufacturing. 3D printing materials are those materials which can be easily operated by the 3D printing machines to manufacture the preferred object. Originally in the 1980s, 3D printing technology was in its promising phase and the 3D printing materials used were wax and simple thermoplastics ever since its drive was restricted to prototyping and sampling. On the other hand, in the current scenario, 3D printing has grown further than prototyping and is applied directly for operational purposes resulting in the utilization of more complex and cultured materials which needs it to be dependable and long-lastin.
3D printing materials market is expected to project a CAGR of 20.99% during the forecast period, 2020-2030
The advantages such as rapid manufacturing procedure, extreme quality goods, cost-efficiency, and rising demand for high-functioning materials are expected to upsurge the sector growth in the coming years. Furthermore, 3D printing decreases the risk of mistakes and is extremely preferable for bulk production, which is expected to lead to the market growth. Additionally, rising application scope of 3D printing technology based on of rapid technological progressions in the U.S. is anticipated to push the market growth in the coming years. Growing demand for modified products in the country together with promising government guidelines have resulted in high spending by several producers in the region.
The Filament segment to grow with the fastest CAGR of xx% during 2020-2030
Global 3D printing materials market is segmented by Form into Powder, Liquid and Filament. Among these, the filament segment is estimated to hold the largest market share of xx% in 2019. Demand for 3D printing materials in the filament form is primarily pushed by the plastic materials since plastic materials are mainly utilized in this form in the 3D printing procedures. The plastic materials that are affordable in the filament form comprise of acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), nylon, photopolymers, polyvinyl alcohol (PVA), polycarbonate (PC), high-density polyethylene (HDPE), and other thermoplastics.
By Form (in %), Global 3D Printing Materials Market, 2019
The Healthcare segment to boost at fastest CAGR of xx% during 2020-2030
Global 3D printing materials market is segmented by End-use Industries into Automotive, Healthcare, Aerospace & Defense, Electronics & Consumer Goods, Construction, Industrial, Education & Research, Personal/Prosumer and Others. Among these, the healthcare segment is witnessed to hold the largest market share of xx% in the year 2019. The healthcare sector is the fastest-developing segment in the 3D printing materials market on the basis of capacity. Various medical products, such as surgical tools, prosthetics & implants, and tissue engineering products, are produced through 3D printing technology. Furthermore, 3D printing materials are extremely beneficial in orthopedic, dental, and craniomaxillofacial, and other medical applications. Additive manufacturing is vastly useful in developing patient-specific devices that match the patient’s anatomy.
By End-use Industries (in %), Global 3D Printing Materials Market, 2019
Increasing Innovations in Technology
The aircraft sector is one of the early implementers of 3D printing technology. The technology is extremely helpful for manufacturing complicated parts. It offers designers the benefit of designing the best parts with decreased cost and manufacturing viability. 3D printing materials like metals, are utilized in the designing of many aircraft parts, such as wings, jigs, and engine parts. Titanium materials are majorly used as 3D printing materials in the aerospace sector as it provides exceptional mechanical characteristics and high dimensional accuracy during manufacturing. 3D printing technology is modifying the production procedure in the automotive sector. The technology has assisted the sector in creating more complicated and lighter structures at the minimized costs. Many Formula 1, supercars, and concept cars are using 3D-printed parts. For instance, in the first quarter of 2018, the leading car producer, Bugatti (France), revealed a 3D-printed brake caliper designed using titanium.
Rising Demand from the Educational sector
Education is one of the fastest-evolving sectors in the 3D printing materials market. Even though the utilization of 3D printing in the education sector is at an evolving phase, various organizations are starting to set up labs for 3D printing. 3D printing technology is also transforming the conventional classroom. For instance, engineering students can print prototypes of their designs; biology students can study cross-sections of organs; graphic design students can print 3D versions of their creativity. 3D printing is extremely helpful in designing cooperating maps to teach geography to students. Furthermore, governments of several regions are spending immensely in 3D printing technology. For instance, the Japanese Economy, Trade, and Industry Ministry (METI) will choose numerous technical schools and universities to obtain a subsidy for two-thirds of their expenses related to the 3D printing technology for their schools.
Heavy Material Cost
3D printing is a simpler technique to produce objects but is costly owing to huge material costs, which is a key hindrance in the market. These huge costs are primarily because of higher norms of purity and composition needed for 3D printing. The metal materials for 3D printing cost an average of about USD 500.0 per kg, which is very expensive to utilize in common applications as the resultant product costs are too high in comparison to the products available in the market.
Declining Lead Time
One of the primary hindrances witnessed by the 3D printing material producers is to decrease the lead time related with these materials, particularly metals. Metal needs a significant time to produce the end products. To weaken this problem, producers have to operate on ongoing materials and technologies supplying to the 3D printing sector. The high lead time taken by the sector is limiting most of the producers from shifting to preservative production from their traditional manufacturing technique, which is hindering the implementation of 3D printing in primary end-use sectors, including aerospace & defense, automotive, and electrical & electronics.
North America to surge at the highest CAGR of xx% during 2020-2030
Region-wise, the market for 3D printing materials across the globe is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. Among these, North America is witnessed to constitute xx% of the total market share in the year 2019. North America holds the primary share in the 3D printing materials market, and the tendency is estimated to on-go throughout the forecast period. Increased demand for the metal materials from the aerospace & defense and automotive industries is playing a key role in the higher utilization of 3D printing materials. Furthermore, the implementation of 3D printing in the healthcare sector for medical & dental implants is facilitating the growth of the market.
By Region (in %), Global 3D Printing Materials Market, 2019
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