The 3D printing materials market size is estimated to grow from USD 1.5 billion in 2019 to USD 4.5 billion by 2024, at a CAGR of 25% between 2019 and 2024. 3D printing has been regarded as one of the major disruptive technologies of this century transitioning from prototyping to a potential production method across various industries. 3D printing, also referred to as additive manufacturing, is expected to have a positive impact on various end-use industries such as aerospace & defense, healthcare, automotive, and consumer goods to name a few.
Aerospace & defense is the major end-use industry in the 3D printing materials market. North America and Europe are the key markets due to the presence of the aerospace & defense industry. The automotive industry is expected to grow at the fastest rate due to the increasing adoption of 3D printing in the manufacturing of automotive components.
To know about the assumptions considered for the study download the pdf brochure
North America is expected to dominate the 3D printing materials market during the forecast period due to the substantial adoption and manufacturing of products based on 3D printing technology. Growing emphasis on the development of new 3D printing materials, such as composites is increasing the application range of the 3D printing materials, and driving the demand in automotive, healthcare, and aerospace & defense industries . In addition, strong support from the governments for 3D printed goods over conventional goods and the presence of key manufacturers in the region are expected to drive the market further.
The major 3D printing material manufacturers are 3D Systems (US), Stratasys (US), Arkema SA (France), Materialise NV (Belgium), Evonik Industries (Germany), and General Electric (US). These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. New product launch and joint venture & partnership were the dominant strategies adopted by the major players, between 2014 and 2019, which helped them to offer innovative products and broaden their customer base.
Stratasys Ltd. has a prominent presence in the 3D printing materials market. The company has a strong brand image, and it caters to the growing demand for 3D printing materials, in major applications. It opted inorganic and organic growth strategies through launching new PEKK-based high-performance thermoplastic material, namely, Antero 800NA and through collaboration with Team Penkse (US). The company mainly focuses on R&D activities to maintain its comprehensive portfolio of 3D printing products that have significant growth potential.
3D Systems Corporation has secured a strong position in the North American market. It is also establishing its presence in Latin America and MEA and is now focusing on APAC. The company is a strong market player in the functional materials & solutions business segment. It has a strong focus on R&D and has acquired Vertex Global Holding B.V. which provides dental material through its Vertex and NextDent brand. Additionally, 3D Systems Corporation is highly engaged in adopting organic growth strategies to remain competitive in the 3D printing materials market. For instance, the company launched 30 new materials that are useful in automotive, durable goods, and jewelry applications.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1295
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States