3D Printing Materials Hold Market Determined by the Household Applications

Posted by Lohitha on July 10th, 2019

3D Printing is a fast growing industry because of its wide range of applications in diverse industries such as aerospace, consumer electronics, automobile, and medical fields. Reduction in the prices of printers and materials are increasing the demand for 3D printing materials market. The progress is visible in end-user sectors, especially in the consumer class. A report by IndustryARC evaluates that the 3D printing materials market revenue will reach ,661.22m by 2023. Furthermore, the demand is projected to rise at a CAGR of 29.5% during the forecast period 2018-2023.

The IndustryARC report titled, “3D Printing Materials Market: By Type (Plastics [PLA, ABS, PVA], Metals [Titanium, Steel, Silver], Ceramics Others); By Form (Filament, Powder, Liquid); By End-User Industry; By Properties; By Application; By Class; By Printing Technology (Fused Deposition Modeling (FDM), Wire Arc Additive Manufacturing (WAAM), Big Area Additive Manufacturing (BAAM), Stereolithography (SLA), Selective Laser Sintering (SLS), Selective laser melting (SLM), Others); By Geography - Forecast (2018-2023)” consolidates an in-depth assessment of the competitive landscape, market drivers, market life cycle analysis, end-user industry, market entropy, financial analysis, market value analysis, and strategic analysis of the global 3D printing materials market.

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3D Printing Materials Market: Leading Segments
Patents play a major role in deciding the market demand, especially in the 3D printing materials market. Plastics, ceramics, and metals, are the commonly used raw materials in 3D printing. However, plastics are extensively used among the other 3D printing materials, they are particularly used in desktop and high-end 3D printers because of its ease and low-cost. Owing of its properties, ceramics are used even in high temperatures and corrosive environments, where other materials are inflexible to use. 3D printing techniques involved in 3D print ceramics production are improving the quality and great efficiency of these materials in 3D Printing. These 3D printing ceramic products are mainly used in the fields of aerospace and healthcare. According to the IndustryARC report, the ceramics market revenue constitutes a predominant share in the 3D printing materials market. Thus, the demand for ceramics is anticipated to grow at a CAGR of 25.7% during the aforesaid forecast period.

Governments of numerous countries are investing and promoting the growth of the 3D printing materials market. North America is the leading producer of 3D printing materials, which occupied a share of 47.6% in the global 3D printing market as of 2017 and it holds a major share followed by Canada in the North America 3D printing materials market. 3D printing market has experienced a notable demand from the personal and consumer products in the North America region. 3D printing materials are experiencing high demand across aerospace and defense segments in North America.

3D Printing Materials Market: Disruptive Trends

• Household Applications: North America is intensifying the demand of consumer 3D printing industry at a rapid rate. Plastics such as ABS and PLA are used in the consumer 3D printers. Reduction in the cost of raw materials and printer prices are driving the growth of 3D printers and its materials in the household applications.
• Medical Industry: Usage of 3D printers in the medical industry, for designing the customized medical devices such as prosthesis limbs and teeth. Research on 3D print artificial organs and 3D print blood vessels are also contributing to the growth of the global 3D printing materials market.

3D Printing Materials Market: Competitive Landscape
At present, Stratasys, 3D Systems, Hoganas A.B., ExOne Gmbh, Arcam, and EOS Gmbh are the major shareholders of the global 3D printing materials market.

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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.