3D Printing Materials Market Worth $4.03 Billion by 2025
Pune, Maharashtra, March 5, 2020 (Wired Release) Meticulous Market Research leading global market research company published a research report titled 3D Printing Materials Market by Type (Polymer, Metal, Ceramic Composite) and Application (Automotive, Consumer Product/Electronics, Aerospace and Defense, Industrial, Healthcare)-Global Forecast to 2025
According to this latest publication from Meticulous Research, the global 3D printing materials market is expected to grow at a CAGR of 20.7% from 2019 to 2025 to reach $4.03 billion by 2025. The global 3D printing material market is majorly driven by the factors such as high demand for 3D printed body and spare parts from automotive and aerospace defense industries, growing demand for 3D printed prosthetic and dental implants, rising investments from private and government organizations in 3D printing projects, and growing demand for 3D printed consumer products and electronics components. However, high cost of 3D printing materials may obstruct the growth of this market to some extent.
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The global 3D printing materials market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025. The overall market is segmented by type (polymer, metal, ceramics composites), form (liquid, powder, filament), application (aerospace defense, consumer products/electronics, healthcare, industrial, automotive parts, and other applications), geography.
Based on type, the ceramics and composite segment is expected to witness a rapid growth during the forecast period, owing to its physical and mechanical properties. The 3D printing in both ceramics and composite is becoming increasingly popular from creating titanium matrix composites to 3D printed robots and even glass ceramics. Some popular technical ceramics are aluminum nitride, zirconia, silicon nitride, silicon carbide, and alumina. Moreover, following ceramics and composite, metals segment is also expected to witness the faster growth during the forecast period. Metal 3D printing is considered the apex of all 3D printing. The characteristics of metals such as good mechanical properties, durability, and lightweight, makes it a good material for production. However, high cost of metal materials, machinery, and operation restrict the demand for these materials.
Based on form,the filament form commanded the largest share of the overall 3D printing materials market in 2019. However, powder form is expected to witness a rapid growth during the forecast period. The growth of this market is mainly attributed to the growing collaborations amongst various organizations to promote the use of metal powder-based 3D printing and rising adoption of 3D printing material powders in aerospace industry to reduce aircraft weight and increase the fuel efficiency. For instance, GE Aviation started using powder bed fusion technology to print fuel nozzles for the LEAP jet engine in 2018.
Based on application,the consumer products/electronics segment commanded the largest share of the overall 3D printing materials market in 2019. However, the healthcare segment is expected to witness faster growth during the forecast period. The growth of this segment is attributed to the increasing demand for 3D printed prosthetic implants due to advantages of 3D printing in prosthetics such as customization of the prosthetic wearer, reduced time, and lower cost. The surge in the number of trauma and accident cases is fueling the demand for standard as well as complicated customized prosthetic limbs and medical implants. Moreover, 3D printing technologies are also increasingly being used to develop patient-specific models of organs and surgical tools, using patients own medical imaging.
Geographically, North America accounted for the largest share of the global 3D printing materials market in 2019. However, the 3D printing materials market in Asia Pacific, especially in China, South Korea, and Japan, is expected to witness high growth during the forecast period. The growing interest from APAC manufacturing companies and the introduction of many government-led strategies and policies have helped several countries within the region to shape the 3D printing industry. The growth potential for 3D printing materials market is supported by an extensive industrial base, supportive government policies, and funding for research and development in the region. Moreover, China is the biggest force behind the growth of the market in Asia, owing to the rapidly expanding manufacturing sector, huge government support to promote the industry, and growing demand for smarter, more efficient production in China.
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Some of the key players operating in the global 3D printing materials market are Stratasys, Ltd. (Israel), Proto Labs, Inc. (U.S), 3D Systems, Inc. (U.S), Materialise NV (Belgium), The ExOne Company (U.S), The Hewlett Packard Company (U.S), EnvisionTEC Inc., (U.S), Evonik Industries AG (Germany), EOS GmbH (Germany), Zortrax (Poland), Markforged Inc., (U.S), Sculpteo- a BASF Company (France), Tethon 3D (U.S), and Arkema S.A. (France) among others.
Key questions answered in the report-
Which are the high growth market segments in terms of type, form, application, and countries?
What is the historical market for 3D printing materials across the globe?
What are the market forecasts and estimates from the period 2019-2025?
What are the major drivers, restraints, and opportunities in the overall 3D printing materials market?
Who are the major players in the overall 3D printing materials market and what share of the market do they hold?
Which are the major players in various countries and what share of the market do they hold?
How is the competitive landscape?
What are the recent developments in the overall 3D printing materials market?
What are the different strategies adopted by the major players in the overall 3D printing materials market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the overall 3D printing materials market and how do they compete with the other players?
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