REDDING, Calif., March 8, 2022 /PRNewswire/ -- According to a new market research report titled"3D Printing Materials Marketby Type (Polymer, Metal, Ceramics & Composites), Form (Filament, Liquid, Powder), Technology (FDM, SLA, Polyjet, Multijet, Binder Jetting, EBM), Application, and Geography— Global Forecast to 2028",published by Meticulous Research®, the 3D printing materials market is expected to grow at a CAGR of 26.7% from 2021–2028 to reach $9.86 billion by 2028.
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3D printing or additive manufacturing is a process of manufacturing three-dimensional solid objects from a digital file. 3D printing technology creates an object by laying down successive layers of material until the object is created. Each layer can be seen as a thinly sliced object's cross-section. 3D printing technology refers to various processes in which material is deposited, joined, or solidified with computer control to create three-dimensional objects.
The growth of this market is backed by growing demand for polymers in 3D printing; mass customization of various functional parts for industrial equipment, jewelry, and consumer goods; and government initiatives supporting the adoption of 3D printing technologies. Moreover, the growing adoption of 3D printing technology in the educational sector provides significant opportunities in this market. However, the high cost of 3D printing materials obstructs the growth of this market to some extent. Lack of awareness of 3D printing technology among supplies, buyers, users, and lack of skilled laborers to perform 3D printing operations are challenging the growth of the 3D printing materials market.
The Impact of COVID-19 on the 3D Printing MaterialsMarket
The COVID-19 pandemic has had an overall negative impact on the 3D printing materials market worldwide. However, healthcare was the least impacted sector due to the high demand for medical equipment and devices for COVID-19 treatment. Healthcare equipment manufacturers started using 3D printing technology for rapid manufacturing due to the increased and urgent requirement for medical equipment. 3D printing technologies were majorly used to customize PPE, such as face masks, and offer patients well-fitting and comfortable products. The demand for biodegradable thermoplastic polymer/polylactic acid (PLA) materials increased due to their high utilization in manufacturing face shields. PLA and polyethylene terephthalate glycol (PETG) were also widely used to 3D print face shields due to their high resistance to temperatures and outdoor weather conditions.
The FDA partnered with the NIH, VA, and America Makes to support non-traditional manufacturing approaches, such as 3D printing, to prevent equipment shortages. As per the partnership, 3D-printable designs for COVID response were given a clinical assessment by the VA and the NIH on the 3D Print Exchange. Some researchers had effectively manipulated 3D printing technology to help healthcare workers on the front line and make antibacterial bio-cellulose masks from biocomposite materials. During the pandemic, 3D printing technology was used to manufacture medical devices and supplies worldwide, including medical devices such as bio-cellulose swabs, antibacterial bio-cellulose masks, and test boxes.
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Application of 3D Printing Technologies in the Education Sector
Applying 3D printing in education has a wide variety of important uses in primary and secondary schools, universities, libraries, technical colleges, and other educational settings. In education, 3D printing technologies facilitate improved learning, skills development, and increased student and teacher engagement with the subject matter. Furthermore, 3D printing sparks greater creativity and collaboration in solving problems.
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.
3D Printing MaterialsMarket Overview
Meticulous Research®has segmented the overall 3D printing materials market based on type (polymers {photopolymers, polylactic acid, acrylic styrene, polyamide, polycarbonates, polypropylene, thermoplastic elastomers, and other 3D printing polymers}, metals {steel, titanium, nickel, aluminum, copper, cobalt-chrome, and other 3D printing metals}, ceramics & composites), form (powders, filaments, liquids), technology (FDM, SLS, SLA, DMLS, polyjet, multijet fusion, DLP, binder jetting, EBM, and other 3D printing technologies), application (consumer products {electronic appliances, jewelry, artistic items, and other products}, automotive parts, industrial applications {equipment & machines, goods & materials}, healthcare, aerospace & defense { prototype weapons, body & spare parts} and other applications), and geography (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa).
Based on type, the 3D printing materials market is mainly segmented into polymers, metals, and ceramics & composites. The polymers segment accounted for the largest share of the overall 3D printing materials market in 2021. The large share of this segment is attributed to its exceptional mechanical properties, superior strength, and high durability of objects printed using 3D printing polymers. However, the ceramics & composites segment is expected to grow at the highest CAGR during the forecast period.
Based on form, the 3D printing materials market is segmented into powders, filaments, and liquids. The powders segment accounted for the largest share of the 3D printing materials market in 2021. The large share of this segment is mainly attributed to the growing adoption of powder-based 3D printing processes across aerospace, automotive, consumer goods, and industrial manufacturing applications. The growing focus on developing various advanced 3D-printed electronic devices has contributed to the rising demand for powder-based 3D printing technologies across the globe. However, the filaments segment is expected to grow at the highest CAGR during the forecast period.
Based on technology, the 3D printing materials market is segmented into fused deposition modeling (FDM), selective laser sintering (SLS), stereolithography (SLA), direct metal laser sintering (DMLS), polyjet, multijet fusion, digital light processing (DLP), binder jetting, electron beam melting (EBM), and other technologies. The fused deposition modeling (FDM) segment accounted for the largest share of the overall 3D printing materials market in 2021. The large share of this segment is mainly attributed to the technology's low cost and ability to manufacture a wide range of 3D-printed objects for automotive, aerospace, consumer goods, and jewelry applications. However, the electron beam melting (EBM) segment is expected to grow at the highest CAGR during the forecast period.
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Based on application, the 3D printing materials market is segmented into consumer products, automotive parts, industrial applications, healthcare, and aerospace & defense. The consumer products segment accounted for the largest share of the overall 3D printing materials market in 2021. The large share of this segment is mainly attributed to factors such as growing demand for customized 3D printed consumer goods, high adoption of 3D printing technology by industrial designers, mechanical engineers, packaging designers, and graphic artists to understand the aesthetics and functional appeal of the products. However, the healthcare segment is expected to grow at the highest CAGR during the forecast period.
Geographically, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to witness the fastest growth by value during the forecast period. Manufacturing companies' growing interest in new technologies and increasing government strategies and policies to support technological advancements have boosted the adoption of 3D printing technology and materials in the region. Increasing digitalization in the region has also fueled the adoption of 3D printing technology across the consumer goods, healthcare, construction, and education industries.
China is considered as the biggest contributor to the 3D printing materials market in APAC. Several initiatives have been undertaken by the country's government and manufacturing companies to promote the 3D printing industry in APAC. According to AMFG, in 2017, the Chinese government issued the 'Additive Manufacturing Industry Development Action Plan' to help the national 3D printing industry. Also, an action plan has been issued as a part of the 'Made in China 2025' strategic roadmap for the manufacturing sector, outlining long-term ambitions and development goals to establish China as one of the leading nations in 3D printing technology. The main goal of this plan is to introduce over 100 AM pilot projects across various industries.
The global 3D printing materials market is dominated by the top five players, namely, Stratasys Ltd. (Israel), Evonik Industries AG (Germany), 3D Systems Corporation (U.S.), Materialise NV (Belgium), and The ExOne Company (U.S.). The other key players operating in the 3D printing materials market are Proto Labs, Ltd., (U.S.), HP Inc. (U.S.), EnvisionTEC, Inc. (U.S.), Markforged, Inc. (U.S.), Tethon 3D (U.S), EOS GmbH (Germany), Zortrax (Poland), Sculpteo (France), Lithoz GmbH (Austria), and IC3D, LLC. (U.S.) among others.
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Scope of the Report
3D Printing MaterialsMarket, by Type
3D Printing Materials Market, by Form
3D Printing Materials Market, by Technology
3D Printing Materials Market, by Application
3D Printing Materials Market, by Geography
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