Scienza e Tecnologia
3D Printing Material Market is Probable to Influence the Value of USD 6 billion, with Growing CAGR of 23% by 2028
PUNE, India , May 16, 2023 /PRNewswire/ --
3D printing is a type of additive manufacturing in which a three-dimensional object is created through the layering of printing materials. 3D printing materials have improved properties like durability, flexibility, stability, and sensitivity. ABS, polylactic acid or polylactide (PLA), plaster, silica, alumina, titanium, tissues, waxes, and laywood are all common materials used in 3D printing.
To some extent, plastics provide design flexibility, durability, and biodegradability. Plastics are also available in a variety of colours. Plastics, on the other hand, have limited weathering resistance. Metals are strong, malleable, and corrosion-resistant; however, they are costly and have limited design flexibility.
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It was worth $703.0 million and held more than 37.0% of the market in 2022. The rising demand for 3D printing materials in the healthcare, cosmetics, aerospace, and automotive sectors is propelling the region's market forward.
In terms of volume, Europe and Asia Pacific are major regions of the global industry. In 2022, these regions had a value share of 27.6% and 24.7%, respectively. The market for 3D printing materials in the Middle East and Africa is larger than in Latin America . However, the Latin American market is expected to grow at a faster rate during the forecast period.
Bio-based materials are gaining popularity in the healthcare industry. In the medical field, 3D printing technology can be used to create surgical tools, prosthetics, and patient-specific replicas of bones, organs, and blood vessels. Increased demand for implants, as well as an increase in the number of surgeries and other medical procedures, are expected to fuel the use of 3D printing technology in the coming years. This is expected to drive market expansion during the forecast period.
Market vendors are focused on producing safe and compatible materials, as incompatibility can result in a foreign body reaction in a patient. This can cause inflammation, slowed wound healing, and other immunological responses. Cutting-edge technologies are finding their way into dentistry. Computer-aided Design and Manufacturing (CAD/CAM) techniques are used to create customised dental implants and other dental tools using Additive Manufacturing (AM). As a result, the rise in demand for dental implants is expected to drive the development of the 3D printing materials market during the forecast period.
3D printing is widely used in a variety of industrial processes, including prototyping, tooling, and end-part manufacturing. 3D printing is increasingly being used by hardware manufacturers for prototyping, design and testing, and short-run manufacturing. Additive manufacturing can improve manufacturing capabilities by lowering costs and speeding up various processes. As a result, several countries around the world are investing heavily in 3D technologies, which is expected to have a positive impact on the growth of the 3D printing materials market in the coming years.
The 2018 budget of the United States Department of Defence supported increased use of 3D printing and additive manufacturing, setting aside US$ 13.2 billion for 3D printing. China is taking similar steps to keep its industrial sector competitive in the global 3D printing market. According to a Materialise NV survey conducted in 2019, 30% of Chinese manufacturers believe that 3D printing will become as important as, if not more important than, traditional manufacturing technologies. Earlier this year, the South Korean government announced a 10-year plan to promote and develop 3D printing as a new growth market. Such public investments are expected to fuel the global 3D printing materials industry in the coming years.
According to the most recent 3D printing materials market trends, the aerospace application segment will account for a significant 26.8% share in 2022. It is expected to be worth $4.2 billion by 2028. The aerospace industry is a significant 3D printing material consumer. Traditional methods cannot be used to prototype and manufacture complex geometrical parts and niche low-volume parts using 3D printing. It reduces component manufacturing lead time.
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3D Printing Material Market by Type 2019-2028, (In USD Million)
3D Printing Material Market by Form, 2019-2028, (In USD Million)
3D Printing Material Market by Technology, 2019-2028, (In USD Million)
3D Printing Material Market by Application, 2019-2028, (In USD Million)
3D Printing Material Market by End User, 2019-2028, (In USD Million)
Because of the growing demand for 3D printing technologies, the aerospace, defence, and automotive industries, in particular, are driving the demand for 3D printing materials. 3D printing, also known as additive manufacturing, has opened up new possibilities for the design of high-tech products in the automotive industry. With additive manufacturing, safer, stronger, and lighter products can be designed in less time and at a lower cost. The ability to freely create new designs is a key factor in the growth of 3D printing in the aerospace and defence industries. Manufacturers no longer have to spend as much time or money on the supply chain as a result of streamlining the manufacturing process.
3D printing has the potential to significantly improve the development of consumer goods and electronics. Prototyping is changing the way electronics are developed. One of its primary advantages is that it enables businesses to internally prototype electrical devices and PCBs, reducing the need for external PCB fabrication services. The use of 3D printers and materials increases design flexibility in the electronics industry. A variety of consumer items are being produced using 3D materials and tools, including eyeglasses, a carbon fibre bike, mascara brushes, helmet liners, insoles, and eyewear. The manufacturers' high flexibility and improved CAD design tools enable them to create any desired product form.
Material costs make 3D printing more expensive than other manufacturing methods, creating a significant market barrier. The increased cost is due to 3D printing's stringent requirements for material purity and uniformity of composition. Metal materials for 3D printing are impractical due to the high cost of the finished product, which typically ranges from USD 250 to USD 500 per kilogramme. When compared to traditional production methods, the materials used in automobile industrial-grade 3D printers are very expensive. Furthermore, because they require specialised components, equipment, and high-voltage power sources, 3D printers are difficult to use and control.
New biocompatible 3D printing materials are expanding 3D printing's medical applications. Using additive manufacturing (also known as 3D printing), surgeons can create precise replicas of a patient's bones and organs, as well as custom cutting and drill guides. Specialised 3D printing for medical applications now accounts for nearly 16% of the industry. Prototypes can be created quickly during the design phase before production begins due to the nature of 3D printing materials and machinery. These materials are used extensively in the automotive and aerospace industries, for example. The method not only has the advantage of lower costs and production viability, but it also produces complex pieces very efficiently.
by Type (Plastics, Metals, Ceramics), by Application (Aerospace & Defense, Automotive, Medical & Dental, Electronics) and by Region, Global Trends and Forecast from 2023 to 2029
by Form (Filament, Powder), by Product (Titanium, Nickel, Stainless Steel, Aluminium), by Application (Aerospace & Defense, Automotive, Medical & Dental) and Region, Global trends and forecast from 2023 to 2029
by Type (Polymer, Metal), Application (Implants & Prosthesis, Prototyping & Surgical Guides, Tissue Engineering, Hearing Aid), Form (Powder, Liquid) and by Region ( North America , Latin America , Europe , Asia Pacific and Middle East & Africa ), Global trends and forecast from 2023 to 2029
by Offering (Printing Services, Materials) Technique (Extrusion Based, Powder Based) End User (Building, Manufacturer) and by Region ( North America , Europe , Asia Pacific , South America , Middle East and Africa ) Global Trends and Forecast from 2023 to 2029
by Construction Method (Extrusion, Powder Bonding) Material Type (Concrete, Metal, Composite) End User (Building, Infrastructure) and by Region ( North America , Europe , Asia Pacific , South America , Middle East and Africa ) Global Trends and Forecast from 2023 to 2029
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