The global 3D printing materials industry size is predicted to reach USD 3.78 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period. The increasing application of 3D printing in various end-user industries such as aerospace, automotive, military, and healthcare will have a positive impact on the 3D printing materials market revenue during the forecast period. Moreover, one of the major 3D printing materials market trends include the increasing knowledge of 3D printing as a faster manufacturing process than conventional manufacturing processes such as injection molding, and subtractive production.
As per the published report by Fortune Business Insights, the market size stood at USD 1.53 billion in 2018.
The 3D printing materials market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about 3D printing materials market outlook, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in well-organized manner.
Growing Adoption of 3D Printing Technology to Spur Opportunities
The rising shift from conventional printing to 3D printing technology will bolster healthy growth of the market in the foreseeable future. 3D printing offers properties including, reduced waste, complexity in designs, cost-effectiveness, and improved design modification. Moreover, the increasing awareness regarding the proven benefits of 3D printing has attracted manufacturers from various sectors. Food, footwear, music, jewelry, and medical sectors are implementing the technology for the manufacturing and development of new products at lower cost. This, factor uplift the 3D printing materials market share in the forthcoming years. In addition, the growing utilization of 3D printed parts in aerospace, automotive, and military applications will enable speedy growth of the market during the forecast period. Nonetheless, 3D printing enables designers to create complex parts at low cost along with production feasibility. For instance, components created from titanium in aerospace industry are usually 3D printed as it offers high dimensional accuracy, and great mechanical properties.
Booming Aviation Industry to Propel Growth in North America
The market in North America generated a revenue of USD 0.58 billion in 2018 and is predicted to witness high growth during the forecast period owing to the rising demand from aerospace, military, and medical industry. The burgeoning aviation industry will create growth opportunities for the market in the region in the forthcoming years. The growing requirement for aircrafts and stellar demand for metal in the defense will boost the market in North America. Europe is predicted to grow rapidly during the forecast period owing to the increasing adoption of 3D printing technology in healthcare. 3D printing is extensively used to manufacture implants and prosthetics at a very low cost. Thus, the rising demand for 3D printing technology in various sectors will contribute positively to the growth of the market in Europe.