Future Market Insights (FMI), a leading market research firm, has released a comprehensive report on the Middle East 3D printing materials market. Titled “3D Printing Materials Market: Middle East Industry Analysis and Opportunity Assessment, 2015 to 2025,” the report presents valuable insights into the region’s burgeoning 3D printing materials market.
According to FMI’s report, the Middle East 3D printing materials market is poised for remarkable growth, with a projected CAGR of 16.7% in terms of value during the forecast period from 2015 to 2025. In terms of volume, the market is expected to grow at a CAGR of 11.2%.
One of the key factors driving this growth is the establishment of numerous 3D printing manufacturing units and the emergence of innovative 3D printing technology-based startups in the region. These developments are set to propel the industrial manufacturing sector’s overall growth in the Middle East.
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Middle East 3D Printing Materials Market: Key Companies
Key players in the Middle East 3D printing materials market include 3D Systems, Stratasys Ltd., Beijing Tiertime Technology Co., Ltd., ExOne Co., 3D Filament Manufacturing, Coex LLC, and MatterHackers Inc.
A large number of players operating in the 3D printing materials market are focused on entering into collaborations and partnerships with local distributors and retailers to enhance their market presence in Middle East countries. Moreover, it also enables companies to increase product visibility across the region.
Middle East 3D Printing Materials Market Segmentation
The Middle East 3D printing materials market is segmented based on the filament, application, diameter type, and region.
Based on filament type, the market has been segmented into ABS, PLA, HIPS & PVA, Nylon, PET, ceramics, and others. In terms of value, the PLA filament segment was estimated to account for a 22.3% share of the Middle East 3D printing materials market in 2015.
This segment is projected to register a healthy CAGR of 16.7% during the forecast period. The metal filament segment is witnessing significant growth and is expected to record sustainable growth in the near future.
Based on application, the market has been segmented into electronics & consumer, automotive, medical, industrial, education, aerospace, and others. The electronics and consumer application segment is expected to register an impressive CAGR of 12.6% in terms of value.
The adoption rate of 3D printing technology in the manufacturing sector in GCC is around 11%, which is above average when compared to the global adoption rate. Government initiatives to set up 3D manufacturing labs across various sectors, along with increasing awareness among manufacturers regarding operational cost profit, have led to the emergence of many new 3D printing start-ups in the region.
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Also, the increasing demand for cost-effective replacement organs in the healthcare sector has led to the increasing adoption of 3D printing technology in healthcare applications. In terms of value, the healthcare industry in GCC is expected to expand at a CAGR of 13.4% during the forecast period. This is expected to create significant demand for 3D printing technology in the region.
Though the Middle East 3D printing materials market is expected to witness impressive growth in the region, the high cost of 3D printing materials along with no uniform design or manufacturing capabilities is a major cause for concern for the increase in overall demand for 3D printing materials.
This report covers trends driving the growth of each segment and offers analysis and insights into the potential of 3D printing materials in all the countries covered in the Middle East.
The market in Levant countries is expected to remain dominant throughout the forecast period. This is primarily due to the presence of some of the international players in the region along with well-established manufacturing sectors in the region. The Levant is mainly driven by Israel and Turkey.
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