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Valued at $558.4 million in 2017, the global 3D printing materials market is projected to surpass $1,365.6 million by 2023, witnessing a CAGR of 16.7% between 2018 and 2023.
Asia-Pacific (APAC) is expected to be the fastest growing 3D printing materials market during the forecast period, among all regions. The potential growth is attributed to the extensive industrial base, supportive government policies, and funding in research and development (R&D). China is the major driving force in the APAC market for 3D printing materials.
Fundamentals Governing 3D Printing Materials Market
The major trend being witnessed in the 3D printing materials market is the adoption of 3D printing in the education sector, to help students think conceptually and turn their ideas into the physical form. It is allowing students to design basic 3D shapes, on tablets, and explore new ideas. At the university level, 3D printing is improving the quality of education, particularly in science, technology, engineering, and mathematics (STEM). The 3D printing technology is helping in learning difficult concepts, as students can use a combination of 3D models to understand different processes, principles, and theories.
Manufacturing companies are using 3D printing, with most of them exploring the opportunities to integrate additive manufacturing into their established processes, to yield better and faster results. 3D printing is gaining popularity in additive manufacturing areas. Additive manufacturing, for years, was dependent on the subtractive process, in which the raw material wasted during the production process is reused over and over again. For instance, in an automobile plant, the metal sheet is cut and shaped into different parts, while the left-over metal is melted again, to form metal plates, so that it can be reused for further manufacturing. With the rising popularity of 3D printing in a wide range of manufacturing processes, the 3D printing materials market is prospering.
Polymers are the most common type of materials used for 3D printing; however, new materials are coming into the market, such as paper and organic tissues, which are providing new opportunities to the 3D printing materials market players. The development of new materials will allow manufacturers to explore new products and encourage product development for other sectors such as electronics.
Segmentation Analysis of 3D Printing Materials Market
Metals held the largest revenue share in 2017, among all types of 3D printing materials. This is attributed to the higher price of metallic materials as compared to others, including plastics and ceramics.
The powder category is expected to witness the fastest revenue growth in the 3D printing materials market, during the forecast period, on the basis of form, as powdered materials are far more expensive as compared to other forms. Powders are used to the create large, dense parts in the aerospace, military, and oil and gas industries.
Aerospace and defense was the largest application category in the 3D printing materials market, accounting for a revenue share of 37.1%, in 2017. This is attributed to the use of titanium, as a material, in the 3D printing of parts or prototypes. Titanium, which is quite important in aerospace and defense applications, is one of the most expensive materials used in such manufacturing processes.
|Market Size by Segments||Type, Form, Application|
|Market Size of Geographies||U.S., Canada, U.K., Germany, France, Italy, China, India, Japan, Brazil, South Africa|
|Market Players||Stratasys Ltd, 3D Systems Corporation, The ExOne Company, Koninklijke DSM N.V., Arkema Group, CRP Technology Srl, EnvisionTEC GmbH, LPW Technology Ltd., Solidscape Inc., Formlabs Inc., EOS GmbH Electro Optical Systems|
Geographical Analysis of 3D Printing Materials Market
North America was the largest 3D printing materials market during the historical period (2013–2017), and it is expected to maintain its lead during the forecast period. This can be mainly attributed to the presence of established players and swift growth in the use of the 3D printing technology in mass customization and product manufacturing. Considering the future industry scenario, the U.S. is expected to lead the North American region, generating revenue worth $490.8 million in 2023.
During the forecast period, the 3D printing materials market is expected to witness the fastest growth in the APAC region, mainly on account of the supportive government policies and heavy funding in R&D. China is expected to witness the fastest growth in the APAC region, during the forecast period.
Competitive Landscape of 3D Printing Materials Market
The 3D printing materials market is dominated by Stratasys Ltd., 3D Systems Corporation, EOS GmbH Electro Optical Systems, and The ExOne Company. Other players operating in the market include Royal DSM, Arkema Group, CRP Technology Srl, EnvisionTEC GmbH, LPW Technology Ltd., Solidscape Inc., and Formlabs Inc.
Recent Strategic Developments of Major 3D Printing Materials Market Players
In recent years, the major players in the global 3D printing materials market have taken several strategic measures, such as product launches and partnerships, to gain a competitive edge in the industry. For instance, in February 2018, EnvisionTEC launched a large, high-speed 3D printer, by the name Vida cDLM, which allows dental professionals to 3D print night guards and orthodontic models in less than 30 minutes, depending on material.
Moreover, in November 2017, LPW Technology Ltd. and Additive Industries signed a partnership agreement to provide integrated powder management solutions for the MetalFAB1 additive manufacturing machine.
Market Size Breakdown by Segment
The 3D Printing Materials Market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.
Based on Type
Based on Form
Based on Application