With the increasing portfolio of applications, 3D printing materials market continues to be an attractive sector for the investors to capitalize from this expanding business space. With a rush of top-notch companies involved, this competitive market is projected to become a billion-dollar business in the next seven years, by exceeding a revenue of USD 3 billion by 2024. Tech giant HP’s recent penetration in 3D printing with the edition of Multi Jet Fusion technology is expected to widen the scope of the industry for mainstream manufacturing in the years ahead. The remarkable expansion of 3D printing market is quite evident from the products’ increasing demand across myriad end use industries which include automotive, aerospace, defense, medical, etc. According to Global Market Insights, Inc., “3D printing materials industry is slated to record a CAGR of 20% over 2016-2024.”
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The growth prospect of 3D printing materials industry and 3D printing equipment market are highly interconnected. Owing to this fact, growing governmental investments in space research and in upgradation of defense forces which has been positively influencing 3D printing equipment market will leave a proportional impact on 3D printing materials market as well. The overall industry is highly application driven due to which the development in the end-use sectors is reflecting a positive light on 3D printing market as well. For instance, automotive manufacturing business is expected to expand at an annual rate of 4% over 2016-2024. The trend will also trigger ample opportunities for 3D printing materials industry, as they are extensively used in providing superior finish to the vehicles. The overall industry from automotive application is anticipated to grow lucratively at an annual rate of 16% over the coming seven years.
Consumer products & electronics accounted for the largest share of the overall market in 2015, covering almost one-fifth of the total volume. Upgraded socio-economic standards that include consumer lifestyle dynamics, spending pattern, and increasing disposable incomes are the major driving factors that have influenced 3D printing materials industry in this sector.
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Ceramics, metals, and plastics are the three-basic 3D printing material products. Ceramics based 3D printing materials market represented a prominent share of the market in 2015, by covering 20% of the overall volume. Due to ceramic’s extensive printing application in saucers, cups, plates, statues, this product demand is forecast to experience an upswing in the years ahead also. Metal based 3D printing materials industry will also chart a profitable road map at a CAGR of 17% over 2016-2024. Industrial, aerospace, and automotive sector are the major end-use industries that drive the market from this domain.
Geographically, North America led the overall 3D printing materials market by consuming 35% of the global share in 2015. Robust development in the aerospace sector and U.S. government’s favorable initiations in empowering the defense force is driving the regional market. 3D printing materials industry in Asia Pacific is forecast to attain the highest growth in the coming seven years. Lucrative automotive manufacturing base in China, India is expected to be the prime factor thriving the regional growth.
Prominent 3d printing materials industry participants include Arkema, Hoganas, EOS GmbH, Solidscape, 3D Systems, and Concept Laser Gmbh.
Browse key industry insights spread across 170 pages with 170 market data tables & 13 figures & charts from the report, “3D Printing Materials Market Size By Product (Ceramics, Plastics, Metals), By End-user (Electronics & Consumer Products, Automotive, Medical, Industrial, Education, Aerospace), 3D Printing Equipment Market Size By Product (Polyjet, Fuse Deposition Modeling [FDM], Selective Laser Sintering [SLS], Stereolithography [SLA], Colorjet), Forecast, 2016 – 2024” in detail along with the table of contents:
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