3D Printing Materials Market Analysis and Industry Forecast for Growth until 2032

Comments · 52 Views

According to a study conducted by market.us, The global three-dimensional (3D) printing materials market is poised to reach US$ 17.51 Bn by 2032, as compared to US$ 1.62 Bn registered in 2021.

The market is experiencing an increase in 3D printing technology's adoption in many sectors, including medicine, construction, industrial, etc. This is the reason why the 3D Printing Materials market is expected to grow by over 24.3 percent CAGR over the period 2022-2032.

The latest technologies, such as 3D printing are making huge ways to enter the automotive sector because of their excellent suitability manufacturing capabilities and their minimal risk of errors. It is becoming increasingly used to create additively-produced components for automobiles, such as front bumpers, suspension wishbones, batteries, ducting, and many more.

Hence, demand for high-performance products for the manufacture of these components is expected to generate significant revenue-generating opportunities in the market.

North America will be the largest market in the world by region and is expected to grow at a 24.3 percent CAGR from 2032. 3D printing materials are seeing an increase in sales because of the increase in the usage of 3D printer technology for building construction in the U.S.A and Canada.

Metals will be highly sought-after material types in the marketplace. Between 2020 and 2021, the market is forecast to increase by 11.5% year-on-year (YoY). The sector is witnessing increasing demand for steel, cobalt-nickel alloys as well as titanium 3D printers because of their strength, durability, and low carbon emissions qualities.

A market.us analyst believes that 3D printing technology will be more widely used in aerospace and defense to produce superior quality products that reduce time to production as well as lower the cost of labor. This is expected to boost the market growth.

Segmentation:

By Material

By Application

  • Aerospace Defense Industry
  • Automotive Sector
  • Medical
  • Consumer Goods Industrial Sectors
  • Other Applications

Competitive Landscape

To enhance their market position Key players are looking at methods that are not organic, such as mergers, partnerships, and collaborations. To get a competitive edge many of these companies intend to launch new products or increase their capacity for production. For instance,

Evonik Industries, a German specialty chemical company announced in the month of October 2021 that it was expanding its product offerings by making two new photopolymers suited for 3D printing: INFINAM(r] FL 6300 L, and INFINAM[r] RG 3101L.

In October 2021 Stratasys Ltd., a worldwide leader in additive technology solutions, announced that it had acquired the remainder of Xaar 3D Ltd. from a U.K.-based firm Xaar plc. The acquisition will assist the company in expanding its footprint across the 3D printing materials sector

The key players are:

  • Covestro AG
  • Arkema S.A.
  • Sandvik AB
  • Evonik Industries A.G.
  • EOS GmbH Electro Optical Systems
  • Ultimaker B.V.
  • Hoganas AB
  • The ExOne Company
  • General Electrics
  • 3D Systems Corporation
  • Materialise NV
  • Stratasys Ltd.
  • Markforged Inc.
Read more
Comments
For your travel needs visit www.urgtravel.com