3D Printing Materials Market Applications, Growth, Size Analysis, Opportunities, Share, Trends, Key Segments, Regional Insights, Graph and Forecast to 2027
The 3D printing materials market is projected to grow from USD 2.5 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 25.6% during the forecasted period. Factors like the ease of developing customized products, reduction in manufacturing cost and process downtime, mass customization, and development of new industrial-grade 3D printing materials drive the market.
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Mass customization is the current revolution in the 3D printing industry. 3D printing has made life easier as consumers can create and develop new paradigms by crafting creative designs on the computer and printing the same with a printer. For plastic objects, the printers can be located at retail stores, and for metal and other materials, the printers can be placed at specialized offsite facilities. In either case, the final product cost will be affordable for customers. Mass customization enabled by 3D printing has increased demand for different 3D printing materials. 3D-printed consumer goods are expected to propel the growth of the 3D printing materials market soon.
Complex and customized designs can be achieved through 3D printing. Jewelers, watchmakers, and other gadget companies are inclined toward mass customization to cater to specific customer requirements. 3D printing has enabled consumers to create designs and print them. Owing to the advancements in 3D printing technology and the development of new 3D printing materials, various new application areas have been discovered for 3D printing. These new areas include home decor, fashion, and jewelry. The use of 3D printing in these applications is expected to boost the growth of the 3D printing materials market.
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Globally, governments are undertaking initiatives and providing funding to educational institutions, research centers, and research & technology organizations to explore further the opportunities provided by 3D printing technology and encourage its development. Countries such as the US, the UK, and Canada have implemented national programs for promoting university-level 3D printing research, which is driving technology advancements and the establishment of startups. The emergence of new applications for 3D printing has attracted industrialists and governments worldwide toward technology.
Based on the end-use industry, the healthcare industry segment of the 3D printing materials market is projected to be the largest, in terms of value or volume, during the forecast period. The healthcare industry is one of the few industries continuously aiming at adopting breakthrough technologies to cater to the medical requirements of humans. Major grades of 3D printing plastic materials used in the industry are photopolymers, polyamide (nylon), ABS, and PLA, among others. High-end 3D printing plastic grades include ULTEM 1010, PPSF, and PPSU, among others. These high-end grades account for a small market share in their consumption (volume), but their market is projected to grow at a high rate during the forecast period.
North America is the leading 3D printing material market. The growing demand from the healthcare, aerospace & defense, and automotive industries is driving the market in the region. The North American region has the presence of major 3D printing manufacturers such as Stratasys, Ltd. and 3D Systems, Inc. The region has the highest number of 3D printing startups focused on niche markets.
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The major players active in the market are 3D Systems, Inc. (US), Arkema (France), Stratasys (US), General Electric (US), EOS GmbH (Germany), Materialise (Belgium), Sandvik AB (Sweden), Höganäs AB (Sweden), Evonik Industries AG (Germany), BASF SE (Germany), Henkel AG & CO. KGaA (Germany), and Solvay (Belgium) and others.
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