Outlook on 3D Printing Materials, 2023 - Worldwide Market Driven by the Adaptation of 3D Printing in the Education Sector - ResearchAndMarkets.com
Based on type, the 3D printing materials market has been categorized into plastics, metals, ceramics, and others (including wood and stone, sand, marble, waxes, and edible materials).
The "3D
Printing Materials Market by Type, by Form, by Application, by Geography
- Global Market Size, Share, Development, Growth, and Demand Forecast,
2013-2023" report has been added to ResearchAndMarkets.com's
offering.
3D printing materials market is projected to reach $1,365.6 million by
2023, the rising need for 3D printing is attributed to the growing
adoption of additive manufacturing in different industries such as
automotive, aerospace and defense, and construction. Moreover, the
growth of the market is also assisted by the supportive government
policies, and funding in research and development in the field of 3D
printing technology.
Based on type, the 3D printing materials market has been categorized
into plastics, metals, ceramics, and others (including wood and stone,
sand, marble, waxes, and edible materials). In terms of volume, plastics
held the largest share, accounting for more than 40.0% share of the
market in 2017. Plastic being a cost-effective material is a favorable
choice for 3D printing across various end-use industries including
automotive and consumer electronics.
On basis of form, the 3D printing materials market has been categorized
into powder, filament, and liquid. Filament category held the largest
share in the market, accounting for more than 50.0% of sales volume in
2017. This is attributed to the fact that different types of filaments
such as nylon, photopolymers, and high-density polyethylene (HDPE) can
be procured at a lower cost, thereby resulting in higher consumption of
filaments as compared to any other 3D printing materials.
Based on application, the 3D printing materials market has been
categorized into aerospace and defense, medical and dental, automotive,
consumer goods, and others (including fashion, electronics, art and
sculpture, jewelry, food, and architecture). Aerospace and defense
contributed more than 35.0% revenue in the market in 2017. Extensive
usage of high valued metals such as titanium in the manufacturing of
aircrafts and military equipment have resulted in higher value share in
aerospace and defense category.
The demand for 3D printing materials is expected to witness the fastest
growth in the APAC region, owing to the increase in automotive and
consumer electronics manufacturing facilities in China, India, and other
regional countries. The increasing growth is led by the supportive
governments' policies for smart manufacturing, which are expected to
elevate the manufacturing output in the APAC region. The growth in the
manufacturing industry will have a positive impact on the 3D printing
materials market growth, as 3D printing technology is used in various
applications including component manufacturing, product manufacturing,
and machinery manufacturing.
The education sector is adapting the concept of 3D printing and
embracing it to help students to think conceptually. At the university
level, 3D printing concept is improving the quality of education,
particularly in science, technology, engineering mathematics (STEM). 3D
printing technology is helping in learning difficult concepts as
students are now using a combination of 3D models to understand
different processes and models. It revolutionizes the education sector
by offering practical hands-on approach, and promoting problem solving
skills of the students. Thus, adoption of 3D printing technology by
education sector have added new dimensions to the 3D printing materials
market.
Polymers are the most common type of materials used for 3D printing,
however, new materials are coming into the 3D printing materials market,
such as paper and organic tissues, are providing the new opportunities
to the market players. The development of new materials will allow
industry players to explore new products and encourage new products
development for use in other sectors such as electronics. For instance,
3M has used 3D printing technology to conduct research on new materials
and health related products. In the recent years, industry players are
establishing small labs to explore new materials and business
opportunities in the market.
Market Dynamics
Trends
- Adaptation of 3D Printing in Education Sector
Drivers
- Increasing Use of 3D Printing in Manufacturing Sector
- Enabling Mass Customization
- Growing Demand for Automobiles in Emerging Nations
Restraints
- High Equipment and Material Costs
- Lack of 3D Printing Expertise and Technical Maturity
Opportunities
- Expanding Set of Available Materials for 3D Printing
Companies Profiled
- 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
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