3D Printing Materials Market by Type, by Form, by Application, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023
3D Printing Materials Market by Type (Plastics, Metals, Ceramics), by Form (Powder, Filament, Liquid), by Application (Aerospace & Defense, Medical & Dental, Automotive, Consumer Goods), by Geography (U.S., Canada, U.K., Germany, France, Italy, China, India, Japan, Brazil, South Africa) - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023
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NEW YORK, Nov. 20, 2019 /PRNewswire/ -- 3D printing materials market is projected to reach $1,365.6 million by 2023, the rising need for 3D printing is attributed to the growing adoption of additive manufacturing in different industries such as automotive, aerospace and defense, and construction. Moreover, the growth of the market is also assisted by the supportive government policies, and funding in research and development in the field of 3D printing technology.
Based on type, the 3D printing materials market has been categorized into plastics, metals, ceramics, and others (including wood and stone, sand, marble, waxes, and edible materials). In terms of volume, plastics held the largest share, accounting for more than 40.0% share of the market in 2017. Plastic being a cost-effective material is a favorable choice for 3D printing across various end-use industries including automotive and consumer electronics.
On basis of form, the 3D printing materials market has been categorized into powder, filament, and liquid. Filament category held the largest share in the market, accounting for more than 50.0% of sales volume in 2017. This is attributed to the fact that different types of filaments such as nylon, photopolymers, and high-density polyethylene (HDPE) can be procured at a lower cost, thereby resulting in higher consumption of filaments as compared to any other 3D printing materials.
Based on application, the 3D printing materials market has been categorized into aerospace and defense, medical and dental, automotive, consumer goods, and others (including fashion, electronics, art and sculpture, jewelry, food, and architecture). Aerospace and defense contributed more than 35.0% revenue in the market in 2017. Extensive usage of high valued metals such as titanium in the manufacturing of aircrafts and military equipment have resulted in higher value share in aerospace and defense category.
The demand for 3D printing materials is expected to witness the fastest growth in the APAC region, owing to the increase in automotive and consumer electronics manufacturing facilities in China, India, and other regional countries. The increasing growth is led by the supportive governments' policies for smart manufacturing, which are expected to elevate the manufacturing output in the APAC region. The growth in the manufacturing industry will have a positive impact on the 3D printing materials market growth, as 3D printing technology is used in various applications including component manufacturing, product manufacturing, and machinery manufacturing.
The education sector is adapting the concept of 3D printing and embracing it to help students to think conceptually. At the university level, 3D printing concept is improving the quality of education, particularly in science, technology, engineering mathematics (STEM). 3D printing technology is helping in learning difficult concepts as students are now using a combination of 3D models to understand different processes and models. It revolutionizes the education sector by offering practical hands-on approach, and promoting problem solving skills of the students. Thus, adoption of 3D printing technology by education sector have added new dimensions to the 3D printing materials market.
Polymers are the most common type of materials used for 3D printing, however, new materials are coming into the 3D printing materials market, such as paper and organic tissues, are providing the new opportunities to the market players. The development of new materials will allow industry players to explore new products and encourage new products development for use in other sectors such as electronics. For instance, 3M has used 3D printing technology to conduct research on new materials and health related products. In the recent years, industry players are establishing small labs to explore new materials and business opportunities in the market.
Some of the major players operating in the global 3D printing materials market are Stratasys Ltd., 3D Systems Corporation, The ExOne Company, EOS GmbH Electro Optical Systems, Koninklijke DSM N.V., Arkema Group, CRP Technology Srl, EnvisionTEC GmbH, LPW Technology Ltd., Solidscape Inc., and Formlabs Inc.
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