3D printing has managed to grab the popular imagination in almost no time. As Market Research Future (MRFR) asserts, the material market for 3D Printing is touted to cross USD 1.5 Mn at a staggering CAGR of 19% during the forecast period (2016-2022). The 3D Printing Material Market is now experiencing improvements in production speed and quality owing to healthy competition.
The presence of large-scale manufacturing companies has made the Global 3D Printing Material Market competitive. The competition has resulted in the production of innovative and quality products. The dominant players operating in the Global 3D Printing Material Market include Sandvik AB, Höganäs AB, Solvay S.A., EOS GmbH, Arcam AB Inc., and others.
Drivers and Restraints:
With 3D printing technology gaining traction, the global market for 3D printing materials has also accelerated. Innovation in materials and latest technologies are the potential influencers of the global 3D Printing Materials Market demand. Metal can become the second most preferred medium in 3D printing materials and fetch a considerable amount of revenue during the forecast period. Modification of material depending on the need for a specific application can also boost the market.
High printing and difficult manufacturing methods are potential restraints for the Global 3D Printing Market demand. However, the growth of the market can also be hampered by ethical, environmental, and legal issues coupled with technological challenges.
Diverse end-users are setting the market trends at present. Research and development sectors have boosted the increase in adoption of 3D printing devices by lowering manufacturing cost of tools, and materials. For various end-user industries, this is a boon, and they are profiting much from the outcomes.
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To improve desktop manufacturing in a significant manner, Airwolf 3D released the EVO Additive Manufacturing Center. Automotive & aerospace sectors can seek inspiration from prototype steering wheel made by CRP USA for Formula SAE which is both a prototype and a fully functional component.
DWS has launched XCELL 6000, the first ever built-in work cell, from the 3D file to the ready to use parts; this one is a one-stop solution.
The Global 3D Printing Material Market can be segmented by Material and Application.
Material-wise segmentation includes metals, plastic, ceramics, and others. Desktop printing has now given rise in demand for polymer as a material, and it is the most widely used material for printing now. Metal 3D Printing Market share is benefitting more from its application across various industries, such as aerospace & defense, automotive and industrial. Ceramic can also observe a rise in market share during the forecast period owing to a surge in demand from sectors, such as ceramics, statues, and figurines.
Application-based segmentation comprises automotive, healthcare, aerospace & defense, consumer goods, and others. Consumer lifestyle dynamics is now restructuring purchasing behavior owing to which automotive segment is experiencing a stellar rise in the sale. This industry has reacted like a catalyst and boosted the sale of 3D printers. The global market is also experiencing a robust sale due to healthcare industry where it has various applications, such as in dental surgery, replacement of burnt skin and in others.
Regional analysis of 3D Printing Materials spans North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).
North American market is getting led by the U.S. The growing demand for 3D Printing technology in American defense has boosted the growth of the technology and its material. Aerospace industry also plays like a driving factor. The region will experience further growth owing to its huge consumer base of automobiles and electronic gadgets.
Europe, currently, closely follows North America. Along with the latter, the continent enjoys the advantages of being the first market entrants. Germany leads the continent in terms of generated revenue.
Asia Pacific can witness substantial growth in market share with rising population with disposable income in countries, such as India, China, and others. The region is having a remarkable advancement in automotive, healthcare and other sectors.
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