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Global 3D Printing Materials Market Report to 2027: Ease in Development of Customized Products and Reduction in Manufacturing Cost and Process Downtime Drives Growth
Global 3D Printing Materials Market
Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Global 3D Printing Materials Market by Form (Powder, Liquid, Filament), Type (Plastic, Metal, Ceramic), Technology, Application, End-Use Industry (Automotive, Aerospace & Defence, Healthcare, Consumer Goods, Construction), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global 3D printing materials market is projected to grow from USD 2.5 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 25.6% during the forecasted period.
In terms of value, metals accounted for the largest share of the overall 3D printing materials market
The aerospace & defense end-use industry is one of the early adopters of 3D printing metal materials, and various countries have approved the adoption of 3D printing using metal. For instance, in June 2020, IAI produced SkysPrinter, the first fully 3D-printed drone for Israel for the defense department. The UAV was made from 26 parts 3D printed using metal, nylon, carbon, and other complex materials. Along with aerospace & defense, the automotive sector is also one of the prominent users of metal materials. Various automobile manufacturers have adopted 3D printing to produce car body parts.
During the forecast period, the 3D printing materials market in the automotive industry is expected to register the second-highest CAGR
In the automotive industry, 3D printing has primarily been used for rapid prototyping and testing of automotive components. 3D-printed automotive prototypes are created primarily to study the feasibility of automobiles through live testing. The automotive industry was one of the first to use 3D printing technology for prototyping purposes. Using this technology, it has already printed a complete car. Some luxury car manufacturers in Europe and North America have already adopted 3D printing technology for the mass production of automobile components.
During the forecast period, the 3D printing materials market in Asia-Pacific is projected to register the highest CAGR
Asia-Pacific is the fastest-growing market and the third major consumer of 3D printing materials globally. The 3D printing materials market in the Asia-Pacific is considered for China, Japan, South Korea, India, and the Rest of Asia-Pacific. The Asia-Pacific region is an emerging and lucrative market for 3D printing materials owing to industrial developments and improving economic conditions. This region constitutes approximately 60% of the world's population, resulting in the growth of various industries such as automotive, consumer goods, and construction.
Report Metrics
Report Attribute | Details |
No. of Pages | 374 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $2.5 Billion |
Forecasted Market Value (USD) by 2027 | $7.9 Billion |
Compound Annual Growth Rate | 25.6% |
Regions Covered | Global |
Market Dynamics
Drivers
Ease in Development of Customized Products
Reduction in Manufacturing Cost and Process Downtime
Mass Customization
Development of New Industrial-Grade 3D Printing Materials
Restraints
High Cost of Materials
Lack of Standard Process Control
Opportunities
Adoption of 3D Printing Technology in Home Printing
Growing Demand from Education Sector
Rising Demand from Aerospace & Defense and Automotive Sectors
Government Investments in 3D Printing Projects
Challenges
Production of Low-Cost 3D Printing Materials
Reducing Lead Time
Companies Mentioned
3D Systems, Inc.
3DCeram
Admatec B.V.
Arkema
BASF SE
CRP Technology S.R.L.
CRS Holdings, LLC
Envisiontec US LLC
EOS GmbH
Evonik Industries AG
Formlabs, Inc.
General Electric
Henkel AG & Co. KGaA
Hewlett Packard Enterprise Development LP
Hoganas AB
Impossible Objects
Keene Village Plastics
Kinpo Electronics
Lehmann&Voss&Co.
LPW Technology Ltd.
Markforged
Materialise NV
Oxford Performance Materials
Protolabs, Inc.
Sandvik AB
Shenzhen Esun Industrial Co. Ltd.
Solvay
Steinbach AG
Stratasys
Tethon 3D
Ultimaker B.V.
XYZPrinting, Inc.
Zortrax
For more information about this report visit https://www.researchandmarkets.com/r/zhgnv5
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