"3D Printing Materials Sales Driven by Surge in Automotive Demand"
In the automotive sector, 3D printing materials are widely used to create scaled models for testing. The bellows, front bumper, air conditioner suspension wishbone, ducting, dashboard interface, battery cover, alternator mounting bracket and other components are also being manufactured using 3D printing techniques.
3D printing materials are used by automotive OEMs for rapid prototyping. Automobile manufacturers are adopting 3D printing due to its benefits such as low cost, short manufacturing time and less material waste.
For the manufacture of components with complex designs for the aerospace sector, the technology has proved to be quite useful. This allows designers to create the best quality parts at a lower cost and with greater production feasibility. Many airplane parts, including wings, jigs and engine parts, are made using 3D printing materials such as metals.
Backed by the above factors, high demand from the aerospace and automotive sectors is expected to propel the market in the coming years.
2016-2020 3D Printing Materials Market Outlook Compared to 2021-2031 Forecast:
The market demand is projected to grow at a CAGR of 14% as compared to the steady 4.5% registered between 2016 and 2020.
Technological advancements and new product developments are expected to increase sales in the market. Rapid industrialization in developing economies, increasing preference for print advertising and increasing investment in healthcare sectors will boost the market in the years to come.
In addition, the increasing use of additive manufacturing for the production of many industrial parts and items will fuel the growth of the market. The adoption of the technology in North America and East Asia is expected to fuel the demand for 3D printing materials in the coming years.
To know more about 3D Printing Materials Market, read our report.
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