3D Printing Materials Market projected to reach USD 15.09 Billion by 2030, growing at a CAGR of 25.2% during the forecast period of 2023-2030 – says MarketDigits in its latest study.
The Global 3D Printing Materials Market was valued USD 3.13 Billion in 2023 and projected to reach USD 15.09 Billion by 2030, growing at a CAGR of 25.2% during the forecast period of 2023-2030.
Richmond, Nov. 10, 2023 (GLOBE NEWSWIRE) — According to a research report “3D Printing Materials Market, by Material Type (Plastics, Metals, Ceramics, Others), Form (Filament, Powder, Liquid), End-Use Industry (Automotive, Healthcare, Aerospace & Defense, Consumer Goods, Construction, Others), and Region.
Global 3D Printing Materials Market Report Scope:
|Market size value in 2023||USD 3.13 Billion|
|Market size value in 2030||USD 15.09 Billion|
|Forecast Units||Value (USD Million/USD Billion)|
|Segments Covered||Material Type, Form, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and RoW|
|Sample of Companies Covered||
Download the Sample – https://www.marketdigits.com/request/sample/1116
TOC Covers in Depth & Breath on 3D Printing Materials Market
170 – Market Data Tables
65 – List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
The 3D printing materials market has experienced significant growth in recent years as 3D printing technology continues to advance and find applications across various industries. The market is characterized by a diverse range of materials used in additive manufacturing processes. This diversity includes plastics, metals, ceramics, and composites, catering to the specific requirements of different applications. The global 3D printing materials market has witnessed increased adoption in sectors such as aerospace, automotive, healthcare, and consumer goods, driven by the need for customized, rapid prototyping, and cost-effective production. Among the benefits of 3D printing include lower waste, more complicated designs, economic effectiveness, and better design adaptation. Manufacturers from a variety of industries have been drawn to use this technology in order to produce parts. The food, shoe, jewelry, medical, and entertainment industries are among those that use 3D printing materials to create new items with cost-effective designs. Reduced weight, enhanced strength, reduced inventory, and mass customisation are the primary elements driving growing need for 3D printing technology, which will drive up demand.
Major vendors in the global 3D printing materials market – Covestro AG, American Elements, Arkema S.A., Sandvik A.B., Evonik Industries A.G., EOS GmbH Electro Optical Systems, Ultimaker B.V., Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialise NV, STRATASYS LTD, and MARKFORGED Inc. and Others
Request for Discount @ https://www.marketdigits.com/request/discount/1116
Increasing Automotive Industry Applications
The automotive industry has emerged as a significant driver of growth for the 3D printing materials market, with 3D printing technology revolutionizing various aspects of automotive manufacturing and design. This trend can be attributed to several factors that highlight the symbiotic relationship between the automotive sector and 3D printing materials. One of the primary ways in which the automotive industry has embraced 3D printing materials is through rapid prototyping and product development. 3D printing allows manufacturers to create intricate and customized prototypes quickly, enabling design engineers to iterate and test new ideas more efficiently. This not only accelerates the product development cycle but also reduces the cost of creating physical prototypes, making it an attractive proposition for automotive companies looking to bring innovative and cost-effective products to market.
- Increasing Automotive Industry Applications
- Environmental Sustainability
- Adoption of 3D printing technology in home printing
- Growing Construction Industry
Growing Construction Industry
An important and promising potential for the 3D Printing Materials Market to develop and prosper is provided by the expanding construction sector. Additive manufacturing, also referred to as 3D printing, is progressively changing the construction industry by providing creative ways to create architectural structures and building components. When paired with appropriate materials, this technology offers a number of benefits that meet the changing demands of the building sector.
One of the key advantages of 3D printing in construction is its ability to create complex and intricate designs with high precision. This means that architects and builders can bring their innovative and unconventional designs to life, whether it’s intricate facades, custom-shaped components, or unique architectural structures. This level of design freedom can be a game-changer in the construction industry, allowing for the creation of visually stunning and highly functional buildings.
Moreover, 3D printing can cut down on building timescales considerably. Conventional building techniques can entail labor-intensive and time-consuming procedures. The fabrication of different architectural components may be automated using 3D printing, which can simplify these procedures. This results in more efficient projects overall, lower labor costs, and quicker project completion—all of which are desirable in the construction sector, where meeting deadlines is essential.
The market for 3D Printing Materials is dominated by North America.
North America has emerged as the dominating region for the 3D Printing Materials Market, with a strong presence of established manufacturers, advanced research and development facilities, and a diverse range of industries adopting 3D printing technology. The region’s leadership in the market can be attributed to several key factors. Due to the presence of significant 3D printing firms like Stratasys, Ltd. and 3D Systems, Inc. in the US, the US leads the regional market for 3D printing materials, which is the largest market in North America. North America may hold a larger market share if large companies like General Electric enter the market with a division dedicated to 3D printing materials. The greatest concentration of 3D printing firms targeting specialized markets is found in this region.
Asia Pacific region is emerging as the fastest-growing region in the 3D Printing Materials Market. This rapid growth is driven by a combination of factors that are shaping the market landscape in the region. The Asia Pacific area’s growing manufacturing sector, which comprises both conventional and high-tech sectors, is one of the primary drivers of growth in the region. The need for 3D printing materials is rising as production moves to Asia in order to serve a range of applications, including consumer products, electronics, and automobiles. The area is a desirable option for global supply chains due to its capacity to create 3D printing materials in large quantities at cheap pricing. China is among the fastest-growing markets regarding new technologies and using innovative materials for construction. With China’s dominating role as a global construction center, the accelerated development of 3D printing in the home printing sector is likely to revolutionize the traditional construction industry in the country, with applications ranging from residential buildings to monuments. The country managed to 3D print homes and other large-scale structures, making every other country look into the possibilities of 3D printing in construction.
The Filament Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on form, the 3D printing materials market is segmented into filament, powder and liquid. The filament form has a dominant position. Often known as Fused Filament Fabrication (FFF) or Fused Deposition Modeling (FDM), filament-based 3D printing is one of the most popular and easily obtainable 3D printing methods. This popularity contributes to the dominance of filament-based materials in the market. Filament-based 3D printers can work with a wide range of materials, including various types of plastics (such as PLA, ABS, PETG, and more), as well as specialized filaments like flexible, composite, and high-performance materials. This versatility in material options caters to a diverse set of applications and industries.
To directly buy this report @ https://www.marketdigits.com/checkout/1116?lic=s
Similar Reports We Have on Chemicals & Materials Industry:
Roofing Materials Market 2030 By Type, Distribution Channel, End-user and Region – Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Optical Materials Market 2030 By Type, Distribution Channel, End-user and Region – Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Protective Building Materials Market 2030 By Type, Distribution Channel, End-user and Region – Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that a market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.
We offer services that are most relevant and beneficial to the users, which help businesses to sustain themselves in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.
1248 CarMia Way Richmond,
USA: +1 847 450 0808
Follow Us on: | Twitter | LinkedIn
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.