REDDING, Calif., Sept. 23, 2024 /PRNewswire/ -- According to a new market research report titled, '3D Printing Materials Market [https://www.meticulousresearch.com/product/3d-printing-material-market-5083?utm_source=PRnewswire&utm_medium=Paid&utm_campaign=Product&utm_content=19-09-2024] by Type (Polymers, Metals & Alloys, Ceramics & Composites), Form (Powders, Filaments, Liquids), Technology (FDM, SLS, SLA, MJF, EBM, Others), End User (Automotive, Healthcare, Others), and Geography- Global Forecast to 2031.
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The 3D printing materials market is projected to reach $11.08 billion by 2031, at a CAGR of 23.8% from 2024 to 2031.
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Balancing Growth: Rising Demand and Innovation Drive the 3D Printing Market Amid Cost and Skill Challenges
The growth of this market is driven by the growing demand for polymers in 3D printing applications, the increasing focus of organizations on product development and prototyping, and government initiatives supporting the adoption of 3D printing technologies. However, the high costs of 3D printing materials restrain the growth of this market.
Furthermore, the application of 3D printing technologies in the education sector and enterprises' increasing focus on hybrid material innovation are expected to generate market growth opportunities. However, the shortage of skilled professionals and limited material selection are major challenges impacting market growth.
Application of 3D Printing Technologies in the Education Sector
The use of 3D printing technologies in the education sector is expected to create growth opportunities for market stakeholders. 3D printing technologies help improve learning and skill development and increase student-teacher engagement. Also, working with 3D-printed models helps students improve creativity and solve complex problems with ease. 3D printing technologies improve students' understanding by allowing them to physically touch and observe 3D-printed objects. Thus, the growing adoption of 3D printing technologies in the education sector is expected to drive the demand for 3D printing materials.
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Nowadays, educators have started implementing 3D printing technologies at all levels, from primary to secondary school. 3D printing technologies enable educators to provide students with accurate physical prototypes and, thus, practical, and hands-on knowledge, allowing them to understand scientific concepts. Many countries have started introducing 3D printing technologies in schools and universities. For instance, the Japanese Ministry of Economy, Trade, and Industry (METI) chose several universities and technical schools to subsidize two-thirds of their expenses toward introducing 3D printing technology. Also, following the U.S., Japan joined Britain and Australia in introducing 3D printing technologies in schools and other educational institutions.
Many universities and technical colleges have incorporated 3D printing modules and projects into various courses, such as engineering and applied sciences. The third-level 3D printing module focuses on building 3D printers from scratch and fabricating 3D models using various materials. 3D printing technologies thus aid visual and practical learning across sciences. 3D-printed components are often used as test models for scientific experiments in disciplines such as mechanical engineering, aerospace, and robotics. The use of 3D printers in public libraries helps improve knowledge exchange between learners. Also, university libraries have started maintaining dedicated makerspaces with 3D printers that can be used by all library members.
3D Printing Materials Market Analysis: Key Segmental Findings
-- By Type: In 2024, the polymers segment is expected to account for the
largest share of 79.0% of the 3D printing materials market. However, the
ceramics & composites segment is expected to register the highest CAGR
of 31.8% during the forecast period 2024-2031.
-- By Form: In 2024, the powders segment is expected to account for the
largest share of 46.3% of the 3D printing materials market. However, the
filaments segment is expected to register the highest CAGR during the
forecast period 2024-2031.
-- By Technology: In 2024, the Fused Deposition Modeling (FDM) segment is
expected to account for the largest share of the 3D printing materials
market. However, the Electron Beam Melting (EBM) segment is expected to
register the highest CAGR during the forecast period 2024-2031.
-- By End User: In 2024, the aerospace & defense segment is expected to
account for the largest share of 25.0% of the 3D printing materials
market. However, the industrial segment is expected to register the
highest CAGR during the forecast period 2024-2031.
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Geographic Analysis:
Based on geography, the 3D printing materials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 36.3% of the 3D printing materials market.
The consumer goods market is among the largest markets in North America. In recent years, many companies in the consumer goods space have started using 3D printing technology to manufacture products ranging from personalized headphones to customized footwear, which is expected to drive the demand for 3D printing materials in North America. Many companies have started setting up 3D printing material manufacturing plants in the region to cater to this growing demand. For instance, ARMOR Group, a France-based company, has set up 3D printing material manufacturing operations near Cincinnati, U.S. The plant also manufactures plastic products, such as thermal transfer ribbons.
The growing use of various 3D printing technologies for manufacturing orthopedic, cranial, and dental implants, surgical instruments, and prosthetics for the healthcare industry in the region is boosting the demand for 3D printing materials.
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Furthermore, various local players in the 3D printing space are collaborating with A&D companies to develop 3D printing technologies for the manufacture of high-performance aerospace & defense components. For instance, in October 2023, 3D Systems, Inc. (U.S.) launched its MJP 300W 3D printer and VisiJet Wax Jewel Ruby material. Thus, technological advances are also expected to support the growth of the 3D printing materials market in North America.
In 2024, the U.S. is expected to account for the dominant share of 95.0% of the 3D printing materials market in North America. The country's large market share is mainly attributed to the growing adoption of 3D printing technology in healthcare, automotive, and industrial, among other applications, and the increasing demand for 3D printing technology in the country's aerospace industry to manufacture stronger and lighter aircraft parts and components.
Asia-Pacific: The Fastest-growing Regional Market
Asia-Pacific is projected to register the highest CAGR of 28.6% during the forecast period 2024-2031. In 2024, China is expected to account for the largest share of the 3D printing materials market in Asia-Pacific. The manufacturing sector in Asia-Pacific is developing rapidly, with a growing interest in new technologies for efficient production. Additionally, increased digitization is driving the adoption of 3D printers in industries such as consumer goods, construction, healthcare, electronics, and semiconductors. China, India, Japan, South Korea, and Singapore are some of the largest economies in this region, with significant potential for the adoption of 3D printing technologies due to the rapid increase in industrialization.
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Manufacturing companies' growing interest in new technologies and increasing government support for technology adoption have boosted the utilization of 3D printing technologies and materials in the region's manufacturing sector. Increasing digitalization in the region has also fueled the adoption of 3D printing technology across the consumer goods, healthcare, construction, and education industries in Asia-Pacific.
The high adoption of 3D printing technology in the healthcare industry has accelerated the production and utilization of 3D printing materials. For instance, in February 2024, Lithoz GmbH (Austria) established a technology network to advance ceramic 3D printing. The network will initially consist of three Japanese ceramic companies--AS ONE (Japan), Mitsui Kinzoku ACT (Japan), and Yugyokuen Ceramics (Japan).
Germany Continues to Dominate the 3D Printing Materials Market in Europe
In 2024, Germany is expected to account for the largest share of the 3D printing materials market in Europe. Germany's large share is attributed to the growing adoption of 3D printing technology among the country's automotive companies.
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3D Printing Materials Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players' product portfolios, geographic presence, and key growth strategies adopted over the past 3-4 years. Major companies in the 3D printing materials market have implemented various strategies to expand their product offerings and global footprints and augment their market shares.
The key strategies followed by most companies in the 3D printing materials market include product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the 3D printing materials market include Markforged, Inc. (U.S.), Sculpteo (France), Stratasys Ltd. (U.S.), Evonik Industries AG (Germany), Zortrax (Poland), 3D Systems, Inc. (U.S.), Proto Labs, Inc. (U.S.), MATERIALISE NV (Belgium), The ExOne Company (U.S.), IC3D, Inc. (U.S.), Desktop Metal, Inc. (U.S.), EOS GmbH (Germany), Tethon3D (U.S.), Lithoz GmbH (Germany), and Formlabs (U.S.).
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3D Printing Materials Industry Overview: Latest Developments from Key Industry Players
-- In March 2024, HP Inc. (U.S.) launched a new polymer material, HP 3D HR
PA 12 S, enabled by Arkema (France), establishing a new benchmark in
surface finish with lower costs per part. The new PA 12 S material sets
the standard for surface aesthetics while reducing costs for customers
using HP's Jet Fusion 5200 Series 3D printing solutions.
-- In February 2024, Lithoz GmbH (Austria) established a technology network
to advance ceramic 3D printing. The network will initially consist of
three Japanese ceramic companies--AS ONE (Japan), Mitsui Kinzoku ACT
(Japan), and Yugyokuen Ceramics (Japan).
-- In October 2023, Desktop Metal, Inc. (U.S.) launched ETEC Pro XL, an
industrial polymer 3D printer that delivers extreme accuracy,
resolution, and surface finish in a large build area with high
throughput speeds. Additional updates to ETEC Pro XL include a 4K
ultra-high-definition projector and proven HyperPrint technology for
continuous, isotropic printing.
-- In March 2021, STRATASYS LTD. (Israel) launched the J5 DentaJet
multi-material 3D printing system to enable dental professionals to load
mixed trays of dental parts. The J5 DentaJet can handle up to five
different materials and allows dental labs to manufacture several parts
with multiple materials for partial denture applications or dental
implant cases.
-- In March 2021, Evonik Industries AG (Germany) launched a new
ready-to-use PEEK filament for 3D printing industrial plastic parts. The
high-temperature material called INFINAM PEEK 9359 F is compatible with
extrusion-based 3D printing processes such as FDM and FFF. It is
designed to replace metals in "infinite" industrial 3D printing
applications.
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Scope of the Report:
3D Printing Materials Market Assessment--by Type
-- Polymers
-- Photopolymers
-- Polyamide (PA)
-- Polylactic Acid
-- Acrylic Styrene Acrylonitrile (ASA)
-- Polycarbonates (PC)
-- Polypropylene (PP)
-- Thermoplastic Elastomers (TPE)
-- Other Polymers
-- Metals & Alloys
-- Steel
-- Titanium
-- Nickel
-- Aluminum
-- Copper
-- Cobalt-Chrome
-- Other Metals & Alloys
-- Ceramics & Composites
3D Printing Materials Market Assessment--by Form
-- Powders
-- Filaments
-- Liquids
3D Printing Materials Market Assessment--by Technology
-- Fused Deposition Modeling (FDM)
-- Selective Laser Sintering (SLS)
-- Stereolithography (SLA)
-- Direct Metal Laser Sintering (DMLS)
-- Polyjet
-- Multi Jet Fusion (MJF)
-- Digital Light Processing (DLP)
-- Electron Beam Melting (EBM)
-- Other Technologies
3D Printing Materials Market Assessment--by End User
-- Consumer Packaged Goods
-- Electronic Appliances
-- Jewelry & Artistic Items
-- Other Consumer Packaged Goods Applications
-- Automotive
-- Industrial
-- Equipment & Machines
-- Goods & Materials
-- Healthcare
-- Implants
-- Dental
-- Medical Devices
-- Aerospace & Defense
-- Prototypes
-- Body & Spare Parts
-- Energy
-- Construction
-- Other End Users
3D Printing Materials Market Assessment--by Geography
-- North America
-- U.S.
-- Canada
-- Europe
-- Germany
-- France
-- U.K.
-- Italy
-- Spain
-- Russia
-- Rest of Europe (RoE)
-- Asia-Pacific (APAC)
-- China
-- Japan
-- India
-- South Korea
-- Rest of Asia-Pacific (RoAPAC)
-- Latin America
-- Brazil
-- Mexico
-- Rest of Latin America (RoLATAM)
-- Middle East & Africa
-- Israel
-- UAE
-- Rest of Middle East & Africa
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3D Printing Materials Market Report Summary
Particulars Details Number of Pages 250 Format PDF Forecast Period 2024-2031 Base Year 2023 CAGR 23.8 % Estimated Market Size (Value) $11.08 billion by 2031 Countries Covered North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (Israel, UAE, Rest of Middle East & Africa). Key Companies Markforged, Inc. (U.S.), Sculpteo (France), Stratasys Ltd. (U.S.), Evonik Industries AG (Germany), Zortrax (Poland), 3D Systems, Inc. (U.S.), Proto Labs, Inc. (U.S.), MATERIALISE NV (Belgium), The ExOne Company (U.S.), IC3D, Inc. (U.S.), Desktop Metal, Inc. (U.S.), EOS GmbH (Germany), Tethon3D (U.S.), Lithoz GmbH (Germany), and Formlabs (U.S.).
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