3D Printing Materials Market from the polymers segment is expected to remain the highest revenue-generating segment throughout the forecast period.
PORTLAND, UNITED STATES, USA, October 13, 2021 /EINPresswire.com/ — The demand for 3D printing materials has witnessed tremendous growth, driven by the growth in sales of 3D printers (especially desktop printers), increased penetration in automotive, consumer products, aerospace and defense, healthcare, industrial sector, and others. 3D printing material market is in its development stage. All the industry players are investing immensely to find new commercial avenues for their product segments via strategic partnership and collaborations.
Some of the major factors that drive the demand for 3D printing material includes expiration of key patents for 3D printers, availability of cheaper 3D printers, ease in prototype development, core and mold manufacturing, along with reduced complexities in manufacturing products or parts. However, factors such as toxicity to human beings and flora and fauna coupled with high cost of materials are expected to hamper the market growth during the forecast period. Growth in research and development, increasing industry collaboration, and increase in number of end-user industry will provide significant opportunities to the industry players across the value chain.
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According to Eswara Prasad, Team Lead Chemical Research at AMR, "Ease of manufacturing and adoptability of bio-materials for printing are the key factors resulting in significant upsurge in demand for 3D printing materials."
Report on 3D Printing Materials Market by Type (Polymers, Metals, Ceramic, and Others), by Form (Powder, Filament, and Liquid), and by End user, was valued at $578 million in 2015, and is expected to reach $1,871 million by 2022, registering a CAGR of 18.3% from 2016 to 2022, according to new research published by Allied Market Research. Polymers segment is expected to remain the highest revenue-generating segment throughout the forecast period. U.S. held the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
In 2015, Polymers was the largest material segment in the global 3D printing materials market. However, metals segment is expected to witness highest CAGR of 24.4% during the forecast period owing to growing penetration in industries such as aerospace and defense, healthcare, industrial sector, and others. Growth in investment towards research and development, towards material innovation and development of low cost printers is expected to fuel the demand phase of the 3D printing materials market
In 2015, automotive was the leading end-user segment with around one-fifth revenue share followed by healthcare and industrial sector. In automotive industry 3D printing material is primarily used for prototype development along with core and mold manufacturing.
In 2015, North America accounted for almost half of the global demand for 3D printing material and is expected to maintain its lead position throughout the forecast period. Asia-Pacific is projected to be the fastest growing region, with a CAGR of 19.1% during the forecast period owing to the economic and industrial developments happening in the emerging economies.
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Key findings of the 3D Printing Materials Market
1. Aerospace & defense market revenues are expected to witness highest CAGR of 19.6% during the forecast period.
2. Automotive and consumer product end-user segments together accounted for 40% of the global market in 2015
3. Polymers and metals segments together accounted for more than 90% market share in 2015.
4. Automotive is the largest end user segment with around one-fifth market share in 2015.
5. U.S. was the largest market in terms of demand for 3D printing materials in 2015.
6. Powder form materials are expected to grow at a high CAGR of 19.7% during the forecast period
Major players in the industry are investing significantly on research and development to launch new materials for commercial applications at low cost. Key companies profiled in this report include 3D Systems Corp., Arcam AB, Arkema S.A., Royal DSM N.V., Exone GmbH, Stratasys Ltd., CRP Group, Envisiontec GmbH, EOS GmbH Electro Optical Systems, and LPW Technology Ltd.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market
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Source: EIN Presswire