Market Overview

3D Printing Materials & Equipment Market to exceed – $14bn by 2024

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Global 3D printing materials and equipment market share is expected to gain substantial momentum in the coming years owing to rising innovations in crucial industries such as aerospace, medical, automotive and consumer goods. High precision, design speed, and smooth surface finish are some of the pivotal features augmenting the adoption of 3D printers.

As per a report by Global Market Insights Inc., 3D printing materials & equipment market is slated to amass USD 14 billion in annual revenues by 2024. The introduction of 3D printing in the healthcare segment will prove to be extremely beneficial for patients, ensuring intensive care coupled with increased reliability. Rising health awareness among the people will influence the demand for effective devices, fueling the product penetration.

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Growth drivers are

1.      

Gaining popularity of 3D printing technology

2.      

Increasing demand from end-user industries

How has the growth in medical sector propelled 3D printing materials & equipment market size?

Increasing disposable income amongst people has steered innovations in the medical industry. Rising innovations in the medical device sector has leading to the development of precise healthcare solutions that benefit both patients and doctors by lowering costs and improving outcomes.

3D printing material and equipment are showcasing widespread application in the production of several medical devices and assist in creating identical copies of it. They provide faster execution of prototyping ideas, enable inventive problem solving and higher cost savings.

Additionally, these equipment facilitate the production of three-dimensional objects to meet patient care demands and support advanced experimental work with highly complex structures. 3D printing material and equipment allow the production of organs like liver, heart and human tissue fabrication, making them an integral part of healthcare. They can seemingly replicate artificial body parts and are widely being adopted to build prosthetic hand, arms, legs, and feet.

Will the rising demand for ceramic 3D printing materials contribute towards increasing the global share?

Ceramic 3D materials are is used in the printing of cups and saucers, statues, plates, and figurines. Through 3D printing materials and equipment, it becomes easy to finely control ceramic's tactile qualities and ensure design precision.

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In the year 2016, ceramic 3D printing materials accounted for over 20% of the total 3D printing materials industry share. Increasing income and change in consumer taste are driving the demand for interior designing in offices, homes, shopping malls and other spaces, steering ceramic artifact sales and other homeware.

The need to fulfill the design requirements of the consumers and with high design precision delivered is offering lucrative growth opportunities to bolster 3D printing materials and equipment market forecast.

What are the factors driving North America 3D printing materials & equipment market trends?

Burgeoning aerospace and defense sector in the region and rising innovations stimulated by government norms and other regulatory authorities is accelerating the use of 3D printing technology across the region.

Moreover, a robust healthcare sector that meets a surge in spending among the people and rising health consciousness will enhance 3D printing materials and equipment industry outlook. North America will emerge as profitable revenue terrains for the 3D printing materials & equipment market on account of a developed healthcare economy and rising sale of automobile sales.

Partial Chapter of the Table of Content:

3D Printing Materials & Equipment Market, By Product

  • Plastics
  • ceramics
  • Metals

3D Printing Materials & Equipment Market, By End User

  • Electronics & Consumer Products
  • Automotive
  • Medical
  • Industrial
  • Education
  • Aerospace

3D Printing Materials & Equipment Market,, By End User

  • Polyjet
  • Fuse Deposition Modeling [FDM]
  • Selective Laser Sintering [SLS]
  • Stereolithography [SLA]
  • Colorjet
  • Others

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Government initiatives to deploy the adoption of sustainable modes of transportation such as green vehicles in the region will supplement innovations in the industry, complementing U.S. 3D printing materials & equipment market outlook. 3D printed parts allow for lighter auto components, increasing fuel efficiency. Reportedly, the North America 3D printing materials and equipment market size was valued at USD 200 million in 2016.

 

 

 

 

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