3D Printing Materials Market Research Report: Market size, Industry outlook, Market Forecast, Demand Analysis, Market Share, Market Report 2027-2027
The 3D Printing Material Market size is estimated to reach US$8.6 billion by 2027 after growing at a CAGR of around 22.5% from 2022 to 2027. Three-dimensional (3D) printing is a type of additive manufacturing that converts a digital design into a physical object. The method involves spreading down thin layers of material, such as liquid or powdered plastic, metal, cement, polyamide, polycarbonate, carbon fiber, nitinol, or acrylonitrile butadiene styrene, and then fusing them. Due to extensive research and development in 3D printing, as well as increased demand for prototype applications from numerous industrial verticals, such as healthcare, automotive, aerospace, and military, the market is expected to grow. The global impact of the COVID-19 epidemic on the 3D printing materials market has been unfavorable. Due to the significant demand for medical equipment and gadgets for COVID-19 therapy, healthcare was the least affected sector. With the widespread use in the production of face shields, the demand for biodegradable thermoplastic polymer/polylactic acid (PLA) materials has skyrocketed.
Report Coverage
The Report : “3D Printing Material Market Report– Forecast (2022-2027)” by IndustryARC covers an in-depth analysis of the following segments of the industrial enzymes industry.
Key Takeaways
- Asia-Pacific dominates the 3D printing materials market, owing to the increasing automotive industry in the region. The automotive industries in APAC are being fueled by rising per capita income and increasing urbanization, as well as a growing population.
- Including 3D printing in the design process has several benefits, including the ability to produce high-detail, smooth, and scale models for aircraft designs. Thus, aircraft manufacturers are extensively incorporating 3D printing materials in the aerospace industry, thereby propelling the market growth.
- The usage of 3D printing materials in manufacturing applications is growing rapidly around the world. Several end-use industries, such as automotive, healthcare, aerospace, and defense, have already embraced 3D printing for large component manufacturing.
- 3D printing is being used to make car components, mobile cases, wing mirrors, toys, and a variety of other things. End-use industries are moving toward 3D printing for bulk manufacturing because it lowers manufacturing costs, shortens lead times, and produces complex structural things.
- 3D printing is a more convenient way to make products, but it is costly due to high material costs, which is a major market constraint. The greater expenses are due to the higher purity and composition criteria required for 3D printing.
Figure: Asia-Pacific 3D Printing Materials Market Revenue, 2021-2027 (US$ Billion)
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3D Printing Materials Market Segment Analysis – By Type
The plastic segment held the largest share in the 3D printing materials market and is expected to grow with a CAGR of over 21.8% during the forecast period. Plastic is the most widely used raw material for 3D printing as it is one of the most versatile materials for 3D-printed toys and household fittings. Plastic filaments come in translucent and bright colors, with red and lime green being particularly popular. They're marketed on spools and have a matte or shiny feel. Plastic's attraction is easy to understand, given its firmness, flexibility, smoothness, and wide range of color options. Plastic is a comparatively cost-effective material for both makers and consumers. The expansion of the plastic segment in the market will be driven by increased demand for 3D printing technology along with a rising need for high-performance materials from industries such as automotive, aerospace, and healthcare. Furthermore, low-cost development and production of complex designs, as well as less weight and no material costs, will raise plastic demand in the global market.
3D Printing Materials Market Segment Analysis - By End-use Industry
The Automotive industry segment held a significant share in the 3D printing materials market and is expected to grow with a CAGR of over 23.2% during the forecast period. In the automotive sector, 3D printing materials are frequently utilized to create scaled models for testing. Bellows, front bumpers, air conditioner ducting, suspension wishbones, dashboard interfaces, alternator mounting brackets, battery covers, and other components are also made from them. For quick prototyping, automotive OEMs are turning to 3D printing materials. The automotive industry is flourishing at a rapid pace, globally, for instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), automobile output increased by 10% in the first nine months of 2021, to 57.26 million vehicles, up from 52.15 million units in the same period last year. Therefore, the automotive industry's demand for 3D printing materials is predicted to increase in the future.
3D Printing Materials Market Segment Analysis - By Geography
Asia-Pacific region held a significant share in the 3D printing materials market and is expected to grow with a CAGR of around 24.6% during the forecast period. The increased interest of APAC manufacturing enterprises in 3D printing technology, as well as several government-led plans and legislation, have contributed to the region's rapid growth. China is one of the most rapid-growing marketplaces for new technology and materials. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production and Vietnam grew by 1.2 percent and 5.5 percent from the previous year to 5,71,632 and 2,50,000 units, respectively, in 2019. According to Invest India, In FY21, India exported 4.1 million vehicles. From April 2021 to June 2021, Indian automobile exports totaled 1,419,430 units, compared to 436,500 units from April 2020 to June 2020. According to the National Bureau of Statistics of China, China accounts for 70% of the global desktop 3D printer market. Thus, with increasing, application and demand in the End-use industry, the 3D printing materials market will grow rapidly during the forecast period.
3D Printing Materials Market Drivers
Increasing Demand from Aerospace Sectors
The aerospace sector was one of the first to embrace 3D printing technology. The method is particularly beneficial for manufacturing complex pieces. It gives designers the advantage of producing the best parts at a lower cost. Many airplane parts, including wings, jigs, and engine parts, are made using 3D printing materials, such as metals. Titanium materials are commonly utilized as 3D printing materials in the aerospace sector because they have great mechanical qualities and can be manufactured with high dimensional accuracy. The automotive sector is being transformed by 3D printing technology. Technology has aided the industry in producing more complicated and lighter structures at lower costs. 3D-printed parts are used in several Formula 1, supercars, and concept cars.
According to the International Trade Administration, the commercial space industry in the United Kingdom is rapidly expanding, with a turnover of more than $22.8 billion in 2020, and the country aims to capture 10% of the global space market by 2030. According to the Indian Brand Equity Foundation, The Indian aerospace and defense (A&D) sector is expected to grow to US$ 70 billion by 2030, Domestic air travel demand increased by 33% to 52 lakh passengers in October 2020, compared to September, due to rising demand for upgraded infrastructure and government initiatives. Thus, significant growth in the aerospace industry is fuelling the growth of the 3D printing materials market.
Growing Demand for 3D Printing Materials in Healthcare
In terms of volume, the healthcare industry is the 3D printing materials market's fastest-growing segment. 3D printing technology is used to make various medical products, including surgical equipment, prostheses and implants, and tissue engineering devices. Furthermore, 3D printing materials are beneficial in orthopedic, dental, craniomaxillofacial, and other medical fields. Additive manufacturing is quite helpful to create patient-specific products that fit the patient's anatomy. One of the most potential industries for additive manufacturing in healthcare, and the COVID-19 pandemic scenario is no exception. Face shields, N95 masks, and other protective gear are being manufactured to help doctors, medical professionals, and individuals combat the new coronavirus. Stratasys Inc. and 3D Systems Corporation, and a few startups are among the major manufacturers. According to the Center for medical care and medical services, Healthcare spending by the US government increased 36.0 percent in 2020, compared to 5.9 percent in 2019. Such government initiatives are set to increase the demand for 3D printing materials in the healthcare sector.
3D Printing Materials Market Challenges
Reducing Lead Time
Reducing the lead time associated with these materials, particularly metals, is one of the main issues 3D printing material manufacturers face. A decrease in lead time would imply a reduction in inventory and a decline in costs. The ultimate things made from metal take a long time to complete. Manufacturers must build on existing materials and technology that appeal to the 3D printing sector to solve this problem. The industry's lengthy lead time is preventing most businesses from moving to additive manufacturing from their traditional manufacturing process, which is slowing 3D printing adoption in major end-use industries, including aerospace and defense, automotive, and electrical and electronics.
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3D Printing Materials Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the 3D printing materials market. 3D printing materials market top 10 companies include:
- 3D Systems, Inc.
- Arcam AB
- CRP TECHNOLOGY S.r.l.
- ENVISIONTEC, INC.
- EOS GmbH-Electro Optical Systems
- ExOne GmbH
- LPW Technology Ltd
- Royal DSM N.V.
- Stratasys Ltd.
- The Arkema Group
Recent Developments
- In November 2021, iAMfootwear Consortium consisting of Framas, Dyemansion, EOS, Siemens, Twikit, and Arkema is bringing to life a shoe with a customized high-performance 3D printed midsole made from Pebax® elastomers using the DigitalFoam™ concept.
- In June 2021, Covestro AG and Nexeo Plastics have announced the creation of a new PC/ABS filament for 3D printing called Addigy FPB 2684 3D. Nexeo Plastics' distribution platform is where the company offers this product.
- In May 2021, Covestro AG launched Arnite AM2001 GF (G) rPET, a glass-fiber filled recycled polyethylene terephthalate (rPET) for 3D pellet printing generated from post-consumer PET waste.
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