Wilmington, Delaware, United States, March 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global 3D printing materials market was worth US$ 1.9 Bn in 2021 and is projected to reach value of US$ 10.1 Bn by 2031. The global industry is anticipated to rise at a CAGR of 20.4% during the forecast period, from 2022 to 2031. The market report estimates that increase in use of the technology in the healthcare industry is expected to drive the global market. Development of implants, tissues, and prosthetics is made possible utilizing 3D printing. Carbon 3D printers are popular as they provide great speed and accuracy. Higher funding on 3D printing technology is anticipated to present suppliers with attractive market development prospects.
With strong product offerings and services, 3D printing material makers are increasing their market value across several industries. They are developing innovative techniques to manufacture complicated metal-plastic composite structures. Future 3D printing materials are expected to be impacted by increase in production of next-generation electronics.
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Materials used in 3D printing have enhanced characteristics including better durability, stability, high sensitivity, and flexibility. 3D printing often makes use of acryliconitrile butadiene styrene (ABS), laywood, titanium, plaster, waxes, alumina, silica, tissues, and polylactic acid or polylactide (PLA).
In some cases, plastics are biodegradable, durable, and flexible in terms of design. Plastics come in a huge variety of hues as well. Plastics, however, have a low level of weather resilience. Metals are resilient to corrosion, are strong and malleable, but they are also high priced and have limited design options.
Key Findings of Market Report
- Dentistry is one field where advanced technologies are finding increasing application. Bespoke dental implants and other dental instruments are created using computer-aided design and manufacturing (CAD/CAM) technologies that use additive manufacturing (AM). As a result, increase in market demand for dental implants is anticipated to drive business opportunities for 3D printing materials.
- The aerospace application segment accounted for a considerable market share in 2021 and is anticipated to reach value of US$ 4.2 Bn by 2031. Aerospace is one of the largest end-use industries. In contrast to traditional methods, 3D printing can be used to prototype and create intricate geometrical pieces as well as specialized low-volume products. It also reduces lead time in component manufacture, which is expected to drive its market demand in the aerospace industry.
Global 3D Printing Materials Market: Growth Opportunities
- Bio-based products are becoming more popular in the healthcare industry. In this industry, a surgical instrument, a prosthesis, and a patient-specific reproduction of an organ, bone, or blood artery can all be developed using 3D printing technology. Increase in demand for implants and rise in number of surgeries as well as other medical processes is expected to boost use of 3D printing technology in the next few years. This in turn is projected to fuel industry growth during the forecast period.
- Hardware producers are increasingly using 3D printing for prototyping, design and testing, and short-run manufacturing. Additive manufacturing can improve production capacity through cost reduction and process acceleration. As a result, a number of nations are making substantial investments in 3D technologies, which is anticipated to positively impact growth of the 3D printing materials market in the near future.
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Global 3D Printing Materials Market: Regional Landscape
- North America is anticipated to lead the 3D printing materials market in terms of value during the forecast period. In 2021, it had a market share of more than 37.0% and was worth US$ 703.0 Mn. In North America, increase in use of 3D printing materials in aerospace, healthcare, cosmetics, and automotive industries is expected to drive market growth.
Global 3D Printing Materials Market: Key Players
- Dutch Filaments B.V. (Mitsubishi Chemical Corporation)
- Royal DSM N.V.
- ExOne GmbH
- Imagin Plastics Ltd
- 3D Systems, Inc.
- Materialise NV
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Global 3D Printing Materials Market: Segmentation
Product
- Ceramics
- Plastics
- Metals
- Others
End- use
- Electronics & Consumer Products
- Automotive
- Medical
- Industrial
- Education
- Aerospace
- Others
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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