The global 3D printing material market is estimated to witness a robust growth rate of more than 18% during the period 2023–2028. 3D printing is an additive manufacturing process that involves layering materials to create a 3D solid object using 3d printers. Government support for research and development across sectors, significant growth in additive manufacturing, mass customization associated with 3D printing, and usage of 3D printing technology in manufacturing applications are some of the key drivers of the global 3D printing material market.
In the next years, rapid industrialization in developing nations, growing demand for print advertising, and increased investments in the healthcare sector will continue to enhance the global 3D printing material industry. Furthermore, the market’s growth will be aided by the increased use of additive manufacturing to fabricate various industrial parts and items in the forthcoming years. In addition, the high material cost is a major restrain for the 3D printing material market. These high metal material costs are due to the higher purity and composition criteria required for 3D printing.
The adoption of 3D printing technology in the Aerospace & defense industry is gaining traction
One of the early adopters of 3D printing technology is the aircraft manufacturing sector. 3D printing technology is quite helpful for creating intricate pieces. It allows designers to create the best parts at a lower cost and more production feasibility. 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 produced with high dimensional accuracy.
The aerospace & defense industry holds around one-third of the global market share. Additionally, the healthcare industry is projected to be the fastest-growing 3D printing materials market. In automobile manufacturing, 3D printing is revolutionizing the manufacturing process by making it easier to produce complex components with much efficacy. The aerospace & defense industry, as well as the automobile industry, are driving the demand for metal resources, which is driving up 3D printing material usage. Furthermore, 3D printing technology has aided the construction industry in producing more complex and lighter structures at lower costs, thereby augmenting the global market growth.
Europe to grow at a significant growth rate
Europe accounted for a significant share of the global market in 2021 and is expected to grow at a significant growth rate over the forecast period. Strong manufacturing tradition coupled with significant adoption of the 3D technology across industries such as aerospace & defense, automotive, machinery, and healthcare is driving the regional market growth. The regional market growth in North America is mainly due to advancements in the healthcare industry across the US and Canada. In the US, the healthcare industry is likely to observe significant growth in the consumption of 3D printing materials for medical and dental implants.
The Asia Pacific is expected to grow rapidly at a strong growth rate in the forthcoming years, due to increased demand for 3D printing material from countries such as China, Japan, and South Korea. The expansion of the market in this region will be aided by the growth of end use sectors such as healthcare and consumer goods. The market in the Middle East and Africa, Latin America is expected to rise due to the integration of 3D printing technology for applications in automotive, military, and healthcare.
Market Structure and Competitive Landscape
The global 3D printing material market is consolidated in nature with the presence of a few key players holding the major share in the market. Some of the prominent players that contribute significantly to the market include 3D Systems Corporation, Stratasys Ltd., Evonik Industries AG, Arkema SA, Materialise NV, General Electric Company, The ExOne Company, Hoganas AB, and Royal DSM N.V. among others. These players adopt various strategies including acquisition, product development and innovation in order to reinforce their market share and gain a competitive edge over other competitors in the market. Some of the key developments in the global 3D printing material market include,
- In October 2021, Stratasys Ltd. acquired the remaining shares of Xaar 3D Ltd., which is expected to aid the company’s growth in the sector of 3D printing materials.
- In October 2021, Evonik Industries created two new photopolymers for 3D printing, namely, INFINIUM RG 3101 L and INFINIUM FL 6300 L. This recently announced product line of synthetic resins is suitable for use in standard photopolymer 3D printing techniques such as Stereolithography (SLA) or Digital Light Processing (DLP).
- In June 2021, Covestro AG and Nexeo Plastics have announced the growth of a new PC/ABS filament for 3D printing “Addigy FPB 2684 3D”. Through Nuxeo Plastics distribution system, the company offers this product.
Key Market Segmentation
RationalStat has segmented the global 3D printing material market on the basis of material type, form, industry, and region.
- By Material Type
- Polyethylene Terephthalate (PET)
- Polyvinyl Alcohol (PVA)
- High Impact Polystyrene (HIPS)
- Polylactic Acid (PLA)
- Others (Acrylonitrile Butadiene Styrene Nylon)
- Others (Nickel and alloys)
- Others (Ceramics etc.)
- By Form
- By Industry
- Aerospace & Defense
- Industrial Manufacturing
- Healthcare & Medical
- Others (Construction, and Consumer Electronics etc.)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecast, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for manufacturing firms, aerospace & defense companies, automotive companies, healthcare & medical device companies, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The 3D printing materials market is expected to grow at a CAGR of approximately 18% during the forecast period 2022-2028.
Europe holds a prominent share of the market.
The global market for 3D printing materials was US$ 1900 Billion in 2022.
The increasing need to develop complex and intricate models in Aerospace & Defence is the major factor driving the growth of the global 3D printing materials market.
Major companies operating in the global 3D printing materials market are 3D Systems Corporation, Stratasys Ltd., Evonik Industries AG, Arkema SA, Materialise NV, General Electric Company, The ExOne Company, Hoganas AB, and Royal DSM N.V. among others.