The material jetting 3D printing technology market is evaluated at US$0.309 billion for the year 2020 and is projected to grow at a CAGR of 26.42% to reach the market size of US$1.595 billion by the year 2027.
Material jetting is a 3D printing technology that utilizes droplets of photosensitive material that solidifies under ultraviolet light, building the structure layer by layer. The demand for this technology is projected to shoot in the coming years on account of its rising adoption across multiple industries. Also, the increased use of material jetting technology in jewelry manufacturing is anticipated to propel the market growth during the assessment period. The rising use of low-run injection molding due to its cost-effectiveness is another factor expected to surge the market growth in the coming years. Furthermore, rapid technical innovations, combined with increasing affordability of the technology, are further projected to shoot its demand in the coming years. However, the availability of multiple substitute technologies is projected to restrain this growth during the forecast period.
The recent outbreak of the novel coronavirus disease had a negative impact on the material jetting 3D printing technology market. The shutting down of manufacturing facilities implemented as a measure to curb the spread of COVID-19 led to a decline in injection molding. Injection molding is used in industries such as automotive and aerospace, among others, and due to the decline in the demand from these end-use industries, the demand for material jetting 3D printing technology declined as well. Furthermore, the COVID-led hindrances in jewelry manufacturing, coupled with a decline in the demand for jewelry owing to financial uncertainties that arose among people during the pandemic, further harmed the material jetting 3D printing technology. The use of the technology in the medical sector grew; however, the market still witnessed an overall growth reduction compared to the previous years.
Suitability in jewelry manufacturing
DOD (Drop-on-demand) printing which is a type of material jetting, is increasingly being in used in jewelry manufacturing over the past few years, which is anticipated to surge the growth of material jetting 3D printing technology during the forecast period. DOD has several advantages over SLA/DLP printing when it comes to jewelry manufacturing, one of them being its capability to print at a very high level of detail. Also, it removes the issues that arise with resin ash by providing patterns that are printed with a wax-like material and burning out the pattern rather than melting it. Furthermore, as DOD uses one print jet to deposit a wax-like material over a build surface and another one to deposit dissolvable support, the latter eliminates the need for most of the post-processing and results in less post-processing and a better pattern surface finish. On the other hand, when techniques like SLA and DMLS/SLM are used, the dissolvable support that DOD technology already possesses is required to be removed manually. Consequently, in order to get a smooth finish, extra post-processing is needed, which increases the work and makes the process less simple. Owing to these advantages of material jetting in jewelry manufacturing, the demand for material jetting 3D printing technology in the industry is anticipated to increase and is projected to boost market growth in the coming years.
Increased use in low-run injection molding
One of the prominent factors anticipated to drive the market's growth during the forecast period is the rising use of material jetting 3D printing technology in low-run injection molding. Material jetting technology can produce parts with high dimensional accuracy with excellent surface finish and delicate features, due to which it is considered ideal for injection molding. The advancement in technology has enabled the development of modern 3D printing materials, which are temperature resistant. When used with material jetting, it is a feasible way for low-run injection molding. Furthermore, the expensive metal molds are being replaced by material jetting 3D printing molds as it validates the mold design promptly and reduces the financial risk. Thus, its cost-effectiveness for low-run injection molding has furnished it with increased popularity, which is expected to have a positive impact on the material jetting 3D printing technology in the coming years.
North America to hold a significant market share
Geographically, North America is projected to hold the highest share in the market, followed by Europe, while the Asia Pacific is anticipated to witness the highest growth owing to multiple growth opportunities in the coming years due to the rapidly increasing manufacturing industry of the region. According to data from the World Bank, the value-added in the manufacturing industry in the East Asia & Pacific region has increased from US$4.128 trillion in 2010 to US$6.211 trillion in 2020, witnessing a growth of 50.46% over a decade. The rapid growth trend is projected to continue and is anticipated to have a positive impact on the material jetting 3D printing technology market during the assessment period.
|Market size value in 2020||US$0.309 billion|
|Market size value in 2027||US$1.595 billion|
|Growth Rate||CAGR of 26.42% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Component, End-Use Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Solidscape Inc (Prodways Group), Xjet, 3D Systems, Inc., Sculpteo, 3D Hubs, Stratasys Ltd., Xerox, ExOne, HP, Voxeljet|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the material jetting 3D printing technology market size by 2027?
A1. The material jetting 3D printing technology market is expected to reach a total market size of US$1.595 billion in 2027.
Q2. What are the growth prospects for the material jetting 3D printing technology market?
A2. The global material jetting 3D printing technology market is expected to grow at a CAGR of 26.42% over the forecast period.
Q3. What is the size of the global material jetting (MJ) 3D printing technology market?
A3. Material Jetting (MJ) 3D Printing Technology Market was valued at US$0.309 billion in 2020.
Q4. What factors are anticipated to drive the material jetting 3D printing technology market growth?
A4. One of the prominent factors anticipated to drive the growth of the market is the rising use of material jetting 3D printing technology in low-run injection molding.
Q5. Which region holds the largest market share in the material jetting 3D printing technology market?
A5. Geographically, North America is projected to hold the highest share in the material jetting 3D printing technology market.
Solidscape Inc (Prodways Group)
3D Systems, Inc.
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