The projection period, it is expected that the market for 3D printing materials will grow at an astounding 14.2% CAGR. Worldwide sales of 3D printers are being driven by the quick uptake of technologically superior production equipment across numerous industries, which is anticipated to expand the market in the upcoming years.
Raw materials used for 3D printing include plastics, ABS, PLA, metals & powders, carbon fibers, and resins. The market is being supported by the growing trend of using 3D printers to produce a range of small and large products.
Additionally, the market is anticipated to develop as 3D printing is increasingly used in the building and construction industry. Additionally, it is projected that the rise of the automotive, aerospace, electronics, and medical industries will continue to be a major growth driver of the global market for 3D printing materials.
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North America is anticipated to continue to be a lucrative region in the global market for 3D printing materials, according to FMI. The rapid commercialization of cutting-edge technology like 3D printing across a variety of businesses in the area is responsible for the growth.
Key Takeaways:
- By material type, sales in the metal segment are forecast to grow at a 14.9% CAGR over the assessment period.
- Based on form, demand for powder 3D printing materials is projected to increase at a 13.5% CAGR through 2031.
- In terms of applications, sales in the automotive sector are forecast to gain traction at a 13.6% CAGR over the forecast period.
- The U.S. will emerge as a lucrative pocket in the North American 3D printing materials market.
- Sales in the China 3D printing materials market are projected to increase at a 15.2% CAGR through 2031.
Competition Landscape
Key market participants in the global 3D printing materials market elaborated in the report include 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 market participants are focusing on the development of innovative 3D printing products to improve their product portfolios. Besides this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.
For instance:
- In April 2021, Sandvik and its subsidiary BEAMIT Group announced a new capacity for additive manufacturing components in super-duplex stainless steel, an alloy that combines mechanical strength with extremely high corrosion resistance.
3D printing materials Market By Category
By Material Type:
- Plastics
- Metals
- Ceramics
- Others
By Form:
- Filament
- Powder
- Liquid
By Application:
- Electronics & Consumers
- Automotive
- Medical
- Industrial
- Education
- Aerospace
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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