3D Printing Material Market Size, Share, Growth Analysis, By Type(Plastics, Metals, Ceramics, and Others), By End-users(Automotive, Aerospace & defense, Industrial, Medical and Others), By Software(Design software, Inspection software, Printer software, and Scanning software), By Technology(Stereolithography, Fused deposition modeling (FDM), Direct metal laser sintering (DMLS), Selective laser sintering (SLS)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45J2219 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 128 | Figures: 72

3D Printing Material Market Dynamics

Drivers

Growing Consumerism in the Automotive Industry

3D printing is increasingly used in the automotive industry to create scale models for testing purposes. They are also used for components, such as bellows, front bumpers, air conditioning ducting, suspension wishbones, dashboard interfaces, alternator mounting brackets, battery covers, etc. Automotive OEM manufacturers use 3D printing for rapid prototyping.

Restraints

High cost of materials

3D printing is a convenient but expensive way to manufacture products due to high material cost which is a major limiting factor for market growth. These high standards are due to the high standards of accuracy and composition required for 3D printing. The average cost of metal materials for 3D printing is USD 500.0 per kg which makes it very difficult to use in general applications because the end-product costs are very high as compared to sales.

3D Printing Material Market Report Snapshots

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FAQs

3D Printing Material Market size was valued at USD 3.11 billion in 2022 and is poised to grow from USD 3.77 billion in 2023 to USD 17.55 billion by 2031, growing at a CAGR of 21.2% in the forecast period (2024-2031).

The competitive environment of the 3D Printing Material market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. '3D Systems Corporation', 'Arkema S.A.', 'Royal DSM N.V.', 'The Exone Company', 'Stratasys Ltd.', 'General Electric', 'Materialize NV', 'Sandvik AB', 'Hoganas AB', 'Evonik Industries AG', 'Voxeljet AG', 'Markforged Inc.', 'SLM Solutions Group AG', 'Impossible Objects Inc.', 'LPW Technology Ltd.'

3D printing is increasingly used in the automotive industry to create scale models for testing purposes. They are also used for components, such as bellows, front bumpers, air conditioning ducting, suspension wishbones, dashboard interfaces, alternator mounting brackets, battery covers, etc. Automotive OEM manufacturers use 3D printing for rapid prototyping.

Education is one of the fastest growing sectors in the 3D printing material market during the forecast period. Although the use of 3D printing in education is still in its infancy, many institutions have begun to set up 3D printing facilities. 3D printing technology is also transforming the traditional classroom. Engineering students can print samples of their designs; Biology students can research a cross-section of an organ, and graphic design students can 3D print their artwork. 3D printing is very useful in creating interactive maps to teach geography to students. Moreover, governments in various countries are investing heavily in 3D printing technology.

North America is expected to grow rapidly and be a lucrative market during the forecast period. The region accounts for approximately 23% of the 3D printing materials sales value. Positive trends in the medical, aerospace and aerospace industries will drive the market growth in North America 3D printing adoption in many industries and enhanced material options will have growth potential. Measures taken by the US government to increase 3D printing, as well as funding for research and development, will increase the adoption of 3D printing, thereby increasing the market value of 3D printing materials and equipment in the region.

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3D Printing Material Market Dynamics

3D Printing Material Market Report Snapshots

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