The global 3D printing materials market is estimated to garner a significant revenue by growing at a ~15% CAGR over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing adoption of 3D printing technology in the aerospace and automotive sector, for manufacturing complex small parts of aircrafts and vehicles. 3D printing helps designers to achieve high level of accuracy and reduce cost, which is estimated to boost its demand in the aerospace industry. In 2019, more than 1300 new passenger aircrafts were manufactured in the US alone. The increasing number of aircrafts being manufactured is estimated to boost the market growth. 3D printing technique is also being increasingly adopted in the field of education & research providing students with deeper knowledge, such as, working of mechanical parts, cross-section of organs, geographical details, and others. Growing adoption of this technique in classrooms is estimated to immensely boost the market growth.
The global 3D printing materials market is segmented by type into plastic, metal, ceramic, and others, out of which, the plastic segment is anticipated to hold the largest share in the market during the forecast period, as plastic provides the ease of making prototypes, at lower cost and less material loss. Moreover, plastic is lighter, with various material options, which is why, it is being highly used for 3D printing in the manufacturing sector. On the basis of end-user, the market is segmented into construction, industrial, aerospace & defense, automotive, healthcare, education & research, and others. Out of these, the aerospace & defense segment is anticipated to hold the largest revenue share over the forecast period, owing to the requirement of precision and accuracy for the complex parts of aircrafts. Moreover, the education & research segment is estimated to gain significant growth during the forecast period, on account of increasing adoption of 3D printing in schools and colleges for better understanding and learning of the students. CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Regionally, the global 3D printing materials market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of growing aerospace and automotive sectors, which are the major end-users for 3D printing technology. As of 2019, over 45% of all aircrafts, which is around 200,000 aircrafts, are based in the United States. Moreover, U.S. has more than 5,100 public airports. This is also expected to fuel the demand for 3D printing materials. The increasing demand for 3D printing of prototypes will raise the demand for 3D printing materials, which is estimated to boost the market growth in the region.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on account of growing economic development and presence of major automobile manufacturers in the region. Moreover, the growing use of 3D printing in the manufacturing industry is also estimated to encourage the market growth in the region.
The global 3D printing materials market is further classified on the basis of region as follows:
Our in-depth analysis of the global 3D printing materials market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing adoption of 3D printing technology in the aerospace, automotive, and other industries is the major factor driving the market growth.
The market is anticipated to attain a ~15% CAGR over the forecast period, i.e., 2022-2030.
High price of 3D printing material is one of the factors estimated to hamper the market growth.
The market in Asia Pacific is estimated to garner the largest market share owing to the growing automotive sector along with economic development and technological advancement in the region.
The major players in the market are 3D Systems, Inc., Stratasys Ltd., Materialise NV, Arkema group, Evonik Industries AG, The ExOne company, Höganäs AB, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by form, type, end-user, and by region.
The plastic segment is anticipated to hold largest market over the forecast period on the back of easy availability, lighter weight, low cost, and less material loss in prototypes.
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