Pune, Aug. 27, 2020 (GLOBE NEWSWIRE) -- According to the Fortune Business Insights™ in its newly published report, titled "3D Printing Materials Market Size, Share & Industry Analysis, By Type (Plastics, Metals, Ceramics, and Others), By End-Users (Automotive, Aerospace & Defense, Industrial, Medical, and Others), and Regional Forecast, 2019-2026", the global 3D printing materials market size is projected to reach USD 3.78 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period. Extensive utilization of 3D printing materials in the aerospace industry will be one of the main growth drivers for this market
The aerospace industry has been harnessing the power of 3D printing technology for the past few decades. 3D printing materials are commonly used in this industry to build design prototypes through processes such as material jetting and SLA.
Furthermore, organizations such as NASA and the Air Force also use surrogate parts that are developed via 3D printing to act as placeholder parts, replicating components that are later installed during the final assembly. Thus, this additive technology and its materials have high demand in aerospace and are likely to remain so in the foreseeable future.
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The report states that the market value stood at USD 1.53 billion in 2018. It further answers the following questions:
- What is overall industry outlook and upcoming trends that will influence the market growth?
- Which other factors are driving and restraining the market?
- How has the market been segmented?
- How are changes in regional dynamics impacting the growth of the market?
- Who are the top companies in the market and what are their key strategies?
Driving Factors
Rising Applicability of 3D Printing in Healthcare to Stoke Market Growth
The 3D printing materials market growth is slated to get augmented in the coming years owing to the widening applicability of additive manufacturing techniques in the healthcare sector. Recent breakthroughs in this sector using 3D printing are a testament to its vast potential. For example, in 2019, TU Wien, a renowned Austrian university, developed a unique bio-ink to embed cells in a 3D matrix using 3D printing materials. These embedded cells are expected to enable controlled investigation of cell behavior and tissue growth.
Another milestone was reached January 2020, when researchers at the Northwestern University Feinberg School of Medicine located the structural proteins in swine ovaries. This finding can empower medical professionals to create artificial ovaries in humans using 3D printing materials and processes. Thus, this technology offers promising prospects for the healthcare industry and help breach new frontiers of medical research.
Regional Analysis
Strong Funding for Industrial R&D to Propel the Market in North America
North America is anticipated to dominate the 3D printing materials market share during the forecast period in terms of revenue and size. In 2018, the region's market size was at USD 0.58 billion owing to the surging demand for 3D printing in the aerospace, defense, and medical industries. This demand is rooted in the fact that this technology is both energy-efficient and cost-effective.
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In Europe, additive manufacturing is being heavily employed to produce implants and prosthetics for the healthcare sector. On the other hand, the market in Asia-Pacific is expected to grow at an impressive rate on account of the wide usage of 3D printing materials in various end-user industries, including automotive, healthcare, and military.
Competitive Landscape
Strategic Launch of Advanced Products to Intensify Market Competition
The development and launch of advanced additive solutions and materials is rapidly emerging as the dominant strategy among players in this market. Apart from this, companies are collaborating to expand their innovation capabilities and deepen their foothold in the market.
Industry Developments:
- September 2019: US-based 3D Systems released the Figure 4 PRO BLK 10 material for its Figure 4 digital production systems. The product is the company's maiden thermoplastics-based photopolymer, designed for durable, strong, and precise injection molded components.
- May 2019: Solvay, the Belgian chemical major, entered into an agreement with the Israeli 3D printer manufacturer, Stratasys, to collaboratively develop high-performance additive manufacturing filaments to be deployed in FDM® F900® 3D Printers of Stratasys. These materials will be designed to meet the requirements in the aerospace industry.
List of Companies Profiled in the 3D Printing Materials Market Report are:
- American Elements
- Covestro AG
- Höganäs AB
- GE Additive
- Royal DSM N.V.
- EOS GmbH
- Materialise NV
- Stratasys Ltd.
- Solvay
- BASF SE
- Evonik Industries AG
- ExOne
- Arkema
- 3D Systems, Inc.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Global 3D Printing Materials Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Plastics
- Metals
- Ceramics
- Others
- Market Analysis, Insights and Forecast – By End-User
- Automotive
- Aerospace & Defense
- Industrial
- Medical
- Consumer Products
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
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