3D Printing Materials Manufacturers to Capitalize on Surging Need for Lightweight and Flexible Automotive Components Globally
The report by Fact.MR provides insights into the 3D printing materials market between the forecast period from 2021 to 2031. The report delves deep and identifies prominent trends across diverse segments, regions, and competitors. It offers meaningful insights on growth drivers, restraints, and future prospects of this market.
NEW YORK, Sept. 6, 2022 /PRNewswire/ -- The global 3D printing materials market is slated to reach a valuation of US$ 13.3 Billion by 2031. It is expected to showcase a CAGR of 26% during the evaluation period from 2021 to 2031.
Surging use of 3D printing materials technology to make toys, wing mirrors, mobile cases, and automotive components is expected to fuel the global market. As per the report, in the recent past, from 2016 to 2020, the global 3D printing materials market grew rapidly and expanded at a CAGR of 21%.
The healthcare industry is increasingly using 3D printed components in areas of prosthesis, dental attachments, and surgical equipment. Dentists are preferring 3D printed bridges, crowns, implants, and dentures over traditional implants as they are providing better results and are thus becoming popular among patients.
Similarly, doctors and surgeons are also using 3D printed models of surgical equipment for conducting surgeries. The rising demand for 3D printed equipment in the healthcare sector is further expected to drive growth in the global 3D printing materials market.
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Further, lightweight and flexible components have become mainstream in the automotive industry. 3D printed parts exhibit both these properties and are easy to produce, which is driving their demand in the industry.
Moreover, aircraft manufacturers are opting for 3D printed components for several parts, including wings, jigs, and other engine parts. These industries are set to continue boosting demand in the global 3D printing materials market.
Besides, the education sector is fueling growth in the 3D printing materials market. Several major educational institutions are coming up with the concept of opening 3D printing labs, where students can print their designs in order to gain a better understanding of the topic. Teachers can also use these printers to teach by using live examples of sophisticated models.
Key Takeaways:
- The global 3D printing materials market is expected to grow by 10x from 2021 to 2031.
- Based on form, the filament category generated a global 3D printing materials market share of around 41% in 2021.
- In the upcoming decade, the fused filament fabrication technology segment is projected to account for 31% of the global 3D printing materials market share.
- North America 3D printing materials market is set to create an absolute dollar opportunity of over US$ 3 Billion during the evaluation period.
- Asia Pacific 3D printing materials market is projected to account for over 38% of share by 2031.
Growth Drivers:
- Increasing use of 3D printing materials in craniomaxillofacial, dental, orthopedic, and similar other medical applications is projected to aid growth.
- Urgent need for highly durable prototypes to fabricate high-tech consumer and industrial products worldwide is likely to drive growth.
Restraints:
- Not all plastics or metals can be temperature controlled to enable 3D printing, which may hamper growth.
- The majority of 3D printed materials require some type of cleaning up to achieve the required finish, which can slow down the speed of manufacturing.
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Competitive Landscape:
Several big companies are competing against each other to attain the position of market leader in the 3D printing materials industry. Some have entered into collaborative agreements and even merged with one another to gain a competitive edge in the global market.
A few major developments in the industry are:
- In July 2021, 3D Systems introduced Accura AMX Rigid Black, a breakthrough production-grade acrylate resin. It was mainly designed for use with the organization's stereolithography (SLA) technology. The new tough material is the first to result in the production of large-scale additively manufactured parts with high surface quality, accuracy, and resolution.
- In April 2021, Stratasys Ltd. announced three new 3D printers that were meant to fulfill a multibillion-dollar market opportunity in additive manufacturing of end-use parts. Overall, these systems were meant to speed up the transition from conventional to additive manufacturing for low-to-mid-volume production applications.
Key Companies Profiled by Fact.MR
- 3D Systems Corporation
- Arkema S.A.
- Royal DSM N.V.
- The Exone Company
- Stratasys Ltd.
- General Electric
- Materialize NV
- Sandvik AB
- Hoganas AB
- Evonik Industries AG
- Voxeljet AG
- Markforged Inc.
- SLM Solutions Group AG
- Impossible Objects Inc.
- LPW Technology Ltd.
- Envisiontec Inc.
- Carbon
- BASF New Business GmbH
- Eco-Industrial Co. Ltd.
- Forefront Filament
- Keene Village Plastics
- Clariant AG
- Airwolf 3D
- Lithoz GmbH
More Valuable Insights on 3D Printing Materials Market
In the latest study, Fact.MR offers a detailed study on 3D printing materials market for the forecast period of 2021 to 2031. This study also highlights key drivers promoting the sales of 3D printing materials through detailed segmentation as follows:
By Form
- 3D Printing Powder
- 3D Printing Filament
- 3D Printing Liquid
By Technology
- Fused Filament Fabrication
- Selective Laser Sintering
- Stereolithographic
- Direct Metal Laser Sintering
- Others
By Type
- Plastic 3D Printing Materials
- Metal 3D Printing Materials
- Ceramic 3D Printing Materials
- Others
By Application
- 3D Printing Materials for Prototyping
- 3D Printing Materials for Manufacturing
- 3D Printing Materials for R&D
By Vertical
- 3D Printing Materials for Automotive
- 3D Printing Materials for Aerospace & Defence
- 3D Printing Materials for Healthcare
- 3D Printing Materials for Consumer Goods
- 3D Printing Materials for Construction
- Others
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Key Questions Covered in the 3D Printing Materials Market Report
- What is the projected value of the 3D printing materials market in 2021?
- At what rate will the global 3D printing materials market grow until 2031?
- Which are the factors hampering the growth in the 3D printing materials market?
- Which region is expected to lead in the global 3D printing materials market during 2021-2031?
- Which are the factors driving the 3D printing materials market during the forecast period?
- What is the expected market value of the 3D printing materials market during the forecast period?
Explore Fact.MR's Coverage on the Chemical & Materials Domain
3D Printing Plastics Market: Increasing use of 3D printing plastics in prototyping aircraft and automotive parts, as well as in the healthcare sector to make prosthetics and implants is anticipated to drive the global market. Besides, 3D printing plastics can reduce waste that gets generated by raw materials and provides the design engineer with flexibility to develop complex engineering parts, which would aid growth.
3D Printing Medical Devices Market: The global market for 3D printing medical devices is estimated to reach US$ 2.9 Billion in 2022 and is anticipated to exceed US$ 11.5 Billion by 2032, expanding at a CAGR of 14.5% from 2022 to 2032. These medical devices are being widely used by surgeons to decrease the time needed for anesthesia exposure and planning surgeries, which would propel the market.
Thermal Interface Materials Market: The global thermal interface material market is set to be valued at US$ 2.91 Billion by the end of 2022 and is projected to ascend with a CAGR of 8.5% from 2022 to 2032. As per Fact.MR, the market is projected to reach US$ 6.61 Billion by 2032. Increasing demand for portable electronic devices and expansion of the LED industry are expected to accelerate growth in the global market.
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About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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