3D Printing Materials Market Regional Analysis and Industry Growth by Forecast to 2032
According to market.us According to market.us, the demand for three-dimensional (3D), printing materials in the world is projected to reach US$ 17.51 Bn in 2032, in contrast to US$ 1.62 Bn in 2021.
The growing acceptance of 3D printing technology across the industries of industry, construction, medical, and many others is driving the demand for this technology. Driven by this, the 3D Printing Materials market is predicted to grow by over 24.3 percent CAGR during the period 2022-2032.
Modern technologies like 3D printing are gaining inroads into the automotive industry due to their superiority for mass production and less risk of introducing errors. It is becoming increasingly used for additive manufacturing of automobile components like front bumpers, suspension wishbones for suspension, the ducting of batteries, battery covers, and more.
So, the need for high-performance materials for the manufacture of these components is expected to generate significant revenue-generating opportunities in the market.
North America will be the most important market for the region and is expected to grow at a 24.3 percent CAGR up to 2032. The growing use of 3D printing technology for the construction of buildings across the U.S. and Canada is encouraging the sale of 3D printing materials.
In terms of material type, metals are projected to remain sought-after materials in the market, projecting sales to increase by 11.5 percent year-on-year (YoY) between 2020 through 2021. Surging demand for cobalt-nickel alloys as well as titanium, steel, and in 3D printing owing to their durability, strength and low carbon emission properties is driving the growth in the market.
A market.us analyst believes that 3D printing technology will soon be used in aerospace and defense to create superior quality products that reduce time to production and also lower costs for labor. This will drive market growth.
Segmentation:
Material
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Photopolymers
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Metals
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Other Materials
By Application
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Aerospace & Defense Industry
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Automotive Sector
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Medical
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Consumer Products & Industrial Sectors
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Other Applications
Competitive Landscape:
To enhance their market position The major players are exploring alternatives to organic strategies such as partnerships, collaborations, and mergers. To boost their competitive position many of these companies will launch new products or increase their production capacity. For example,
Evonik Industries, a German specialty chemical company, announced in October 2021 that it was expanding its product offerings by the introduction of two new photopolymers that are suitable for 3D printing: INFINAM(r] FL 6300 L, and INFINAM[r] RG 3101L.
In October 2021, Stratasys Ltd., a worldwide leader in additive technology solutions, announced the acquisition of the remaining share of Xaar 3D Ltd. from a U.K.-based company Xaar plc. The acquisition will assist the company in expanding its position in the 3D printing materials market.
Some of the key players are:
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Covestro AG
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Arkema S.A.
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Sandvik AB
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Evonik Industries A.G.
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EOS GmbH Electro Optical Systems
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Ultimaker B.V.
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Hoganas AB
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The ExOne Company
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General Electrics
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3D Systems Corporation
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Materialise NV
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Stratasys Ltd.
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Markforged Inc.
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