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(Health-NewsWire.Net, January 11, 2023 ) The use of 3D printing materials is increasing due to the increasing demand for custom-made materials for a specific application, wherein manufacturers develop a niche and superior materials by modifying their properties as per the requirements. The Global 3D Printing Materials Market size is estimated to grow from USD 1.6 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 23.5% between 2019 and 2024. The increasing use of 3D printing materials in aerospace & defense and the automotive industries is bolstering the market, globally. However, the outbreak of COVID-19 has created ripples across various end-use industries that created an adverse effect on the 3D printing materials market. Furthermore, lockdown scenarios in Europe and North America also have a negative impact on the market.
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The 3D printing materials market, by end-use industry, is segmented into automotive, aerospace & defense, healthcare, consumer goods, construction, and others including electronics and education. The market in the healthcare end-use industry is projected to register the highest CAGR, in terms of value, during the forecast period. Aerospace & defense is the largest end-use industry segment of the 3D printing materials market, followed by the healthcare end-use industry. The growing usage of 3D printing materials is these end-use industries is bolstering the market.
The 3D printing materials market, by technology, is segmented into FDM, SLS, SLA, DMLS, and others. FDM is the most commonly used technology globally and captures the largest share in the 3D printing materials market. The DMLS technology is projected to grow at the fastest rate owing to the increasing demand for metal powders from the aerospace & defense and automotive industries.
The 3D printing materials market, by application, is segmented into prototyping, bulk manufacturing, and R&D. Prototyping is a major application of 3D printing material, whereas the growing adoption of 3D printing in the automotive, aerospace & defense, and medical industries are driving the demand for bulk manufacturing.
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By region, the 3D printing materials market is segmented into five regions, namely, North America, APAC, Europe, MEA, and Latin America. APAC is expected to record the highest growth rate in terms of value and volume during the forecast period. The growth of end-use industries such as automotive, healthcare, and consumer goods in the key countries of APAC, such as China, India, and Japan, is expected to drive the demand for 3D printing materials in the next five years.
The major players active in the market are 3D Systems Corporation (US), Stratasys (US), Arkema SA (France), Materialise NV (Belgium), Evonik Industries AG(Germany), and General Electric (US). These players are adopting the strategies of new product launches, expansions, and agreements to maintain their competitive position in the 3D printing materials market.
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