3D printing is a process used in creating a three-dimensional identical object with the help of sequential layers of material.
The major drivers of growth of this market are rapid acceptance of 3D printing technology from prototyping, product designing, and concept modelling to final product manufacturing and development of advanced and unconventional materials.
Due to greater competition, there has been a decrease in the price of 3D printers, and there have also been improvements in speed, quality, and expansion of applications, which are additional factors contributing to accelerated growth.
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Growth of further demand in key end-use industries, such as consumer goods, medical and transportation, is expected to remain a key driving factor for the global 3D printing market.
Increasing 3D printing equipment market scope across medical and pharmaceutical industries is one of the prominent industry growth factor in the recent years. Manufacturing of living organs such as liver & heart and fabrication of living human tissue are the major applications in the industry.
3D printing materials market is segmented into plastics, metals and ceramics on the basis of type. The plastics segment dominated the 3D printing materials market in 2015 and accounted for a significant part of the total market share. A variety of plastics is used in 3D printing ranging from extremely hard plastic to soft rubber-like plastic materials.
On the basis of the printing method used the market is segmented into Binder jetting, Direct energy deposition, Material extrusion, Sheet lamination, Material jetting, Powder bed fusion and Vat photopolymerization. Binder jetting technology produces 100% dense objects by using an infiltrant such as a second binding metal like bronze. Owing to this, the products are made of blended metals and are predominantly used for prototyping.
On the basis of end users the market is segmented into electronics and consumer products, industrial, aerospace and defence, automotive, healthcare, education and research and other. The overall 3D printing materials market share for electronics & consumer products led the global industry in 2015.
The regional industry growth is primarily driven by prevalence of robust aerospace industry. Increasing investment by the U.S. government to strengthen their defense forces will subsequently boost the regional product demand. In addition, strong customer base for automobiles and electronic gadgets will further complement regional growth by 2024.
Europe is the major revenue-contributing country in the EMEA region. Much of Europe’s growth comes from the automotive segment Germany accounting for the major market of the European region.The 3D printing materials market size in the region will be positively influenced by robust automotive manufacturing and sales in China, India, Indonesia and Japan.
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Leading vendors in the market are Arcam, EOS, Hoganas, Solvay and Sandvik. Other prominent vendors in the 3D printing materials market include Concept Laser, ExOne, and Renishaw.
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