According to Future Market Insights (FMI) analysis, the 3D printing materials market is anticipated to register growth at 14.0% CAGR between 2021 and 2031. Increasing adoption of additive manufacturing in automotive, electronics, medical, and construction sectors among others will continue driving growth in the 3D printing materials market.
3D printing is a technique for layering a three-dimensional object using a computer-generated design. Raw materials such as plastics, ABS, PLA, metals & powders, carbon fibers, and resins are some commonly used printing materials.
Increasing application of 3D printers to manufacture all kinds of small and large products are also boosting the market. Several countries are nowadays utilizing 3D printing technology for the construction of buildings. Technological advancements registered across various industries will pace way for the growth of the 3D printing materials market.
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Regionally, North will continue dominating the 3D printing materials market. Besides this, Europe and East Asia will emerge as chief pockets for growth. As per FMI, East Asia 3D printing materials market will register growth at the highest pace, steered by industrialization in China, Japan, and South Korea.
Key Takeaways from 3D Printing Materials Market Study
- The global 3D printing materials market is expected to reach a value of US$ 5.14 Bn by the end of the forecast period.
- East Asia market will exhibit growth at 14.7% of CAGR during the forecast period due to commercialization of additive manufacturing.
- By material type, metals are expected to remain a key segment in the global market of 3D printing materials, registering growth at 13.6% CAGR.
- Electronics and consumer industry will continue exhibiting high demand for 3D printing materials.
- The U.S. will emerge as the leading market in North America, accounting for over 86% of sales in 2021.
3D Printing Materials Market: Participant Insights
Key market participants in the global 3D printing materials market elaborated in the report includes Covestro AG, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc.
Key players are focusing on shifting their manufacturing from conventional technology to 3D printing to minimize time and risk of human error.
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