3D Printing Material Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Material Type (Metals, Plastic, Ceramics, Others), By End-User Industry (Healthcare, Automotive, Aerospace And Defence, Construction, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Sep 2021
- Report Code : KSI061612107
- Pages : 129
The 3D printing material market is projected to grow at a CAGR of 18.21% to reach US$18.391 billion by 2026, from US$5.702 billion in 2019.
3D printing materials are those materials that can be easily used in 3D printers for the production of the desired object or component. 3D printing materials are an additive manufacturing process used for accomplishing three-dimensional solid objects by adding subsequent layers of materials to compose the object.
The rising adoption of 3D printed components in the healthcare sector, aerospace and defense, and the automotive sector is one of the major factors driving the market growth during the forecast period. The 3D printing materials have benefits such as low cost, less manufacturing time, reduced material wastage, etc. which are encouraging industries such as automotive and aerospace to actively use them in their processes. The increased public and private spending on these industries will fuel the market demand for 3D printing materials during the forecast period. In addition, the development of low-cost devices, and the decrease in the price of materials required for 3D printing are anticipated to proliferate the market growth.
Moreover, the driving factor for the 3D printing material market is the rise in the demand for desktop printing, nationwide. Also, the demand for metals is surging owing to the increasing penetration in high-end applications such as structural parts in the automotive and aerospace industry.
Furthermore, the rising adoption of prototyping for product designs, sampling, and conceptual modeling is further expected to positively impact the 3D printing material market growth during the coming years.
Market Share Segmentation.
By end-user industries, the healthcare and automotive industry account for the dominant market share owing to the excessive use of 3D printing materials in the industries for multiple applications. The aerospace and defense industry is also projected to grow at a high CAGR due to increased spending in the sector. Geographically, Asia Pacific will be the fastest-growing region owing to the flourishing industries such as automotive, and healthcare in the region, especially in countries such as India and China. North America is also expected to hold a notable market share due to the early adoption of these materials across various industries. Also, the increased healthcare expenditure of the region will strengthen regional growth.
- Growing use in the automotive industry.
The major key driver of the 3D printing material market is the surging use in the automotive industry.
These materials are largely used in the automotive industry for components, like bellows, dashboard interface, front bumper, suspension wishbone, alternator mounting bracket, air conditioning ducting, battery cover, etc. Automotive OEM manufacturers use 3D printing materials for rapid prototyping. The extensive use of 3D printing material for multiple applications in the automotive industry will drive market growth during the forecast period.
- Huge demand from the Chinese market.
The rising demand for 3D printing material from the Chinese market will drive market growth during the forecast period as China is one of the fastest-growing economies globally. The flourishing automotive, construction, aerospace, and healthcare market in China has been witnessing staggering growth for 3D printing material. China has been using 3D printing material in the construction industry since 2015, which has encouraged other countries to adopt this technology. China has been using these materials for the construction of buildings, offices, and bridges, which will contribute to the market growth during the forecast period.
Impact of COVID–19 on the 3D Printing Material Market
The Covid-19 pandemic negatively impacted the 3D printing material market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the business operations of many industries such as automotive, aerospace, construction, etc. were put to a halt which in turn declined the demand for 3D printing material in 2020 as the industries suffered huge losses. Also, due to the supply chain disruptions, the 3D printing materials were unable to reach the end-user industry which further hampered the market growth. However, the surging demand for these materials in the healthcare industry globally balanced the market growth.
The market leaders for the 3D printing material market consist of Stratasys, Ltd., Materialise NV, 3D Systems, Inc., EnvisionTEC, CRS Holdings Inc., Ultimaker B.V., Covestro AG, and Arkema S.A. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in September 2020, DSM announced to sell the DSM additive manufacturing to Covestro AG for EUR 1.61 billion, as part of the sale of DSM Resins & Functional Materials and (other) related businesses.
3D Printing Material Market Scope:
|Market Size Value in 2019||US$5.702 billion|
|Market Size Value in 2026||US$18.391 billion|
|Growth Rate||CAGR of 18.21% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Material Type, End-User Industry, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Stratasys, Ltd., Materialise NV, 3D Systems, Inc., EnvisionTEC, CRS Holdings Inc., Ultimaker B.V., Covestro AG, Arkema S.A.|
|Customization Scope||Free report customization with purchase|
- By Material Type
- By Type
- By Form
- By Type
- By Type
- By Form
- By Type
- By End-User Industry
- Aerospace and Defense
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- North America
Frequently Asked Questions (FAQs)
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. 3D Printing Material Market Analysis, By Material Type
5.2.1. By Type
5.2.2. By Form
5.3.1. By Type
5.3.2. By Form
6. 3D Printing Material Market Analysis, By End-Use Industry
6.4. Aerospace and Defense
7. 3D Printing Material Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
9.1. Stratasys, Ltd.
9.2. Materialise NV
9.3. 3D Systems, Inc.
9.5. CRS Holdings Inc.
9.6. Ultimaker B.V.
9.7. Covestro AG
9.8. Arkema S.A.
3D Systems, Inc.
CRS Holdings Inc.
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