3D Printing Material Market to Witness an Outstanding Growth by 2027, Study by Coherent Market Insights

 

3D Printing Material Market

Important metal and plastic components are produced using 3D printing materials. These materials are commonly employed in aerospace component manufacture because they aid in the production of lightweight and fuel-efficient aircraft. The three types of 3D printing materials are filament, liquid, and powder.

The 3D Printing Material Market main growth driver is anticipated to be the capacity to produce affordable parts and machinery more quickly. The industry's demand is anticipated to be driven by growing knowledge of the large weight and cost reductions achieved by different manufacturers. The market for 3D printing materials is growing because 3D printers waste less material than conventional machines do. Metal and polymer powder, which are more expensive than the materials used in conventional manufacturing processes, are among the materials used by 3D printers to create a variety of end-use goods. The market's growth is anticipated to be constrained by a rise in the price of 3D printing materials.

Over the projection period, it is projected that advantages including a quicker production process, better-quality products, cost-effectiveness, and rising demand for high-performance materials would drive market expansion. Additionally, 3D printing lowers the possibility of mistakes and is far superior for mass manufacturing, which is anticipated to spur market expansion. Over the course of the forecast period, market expansion is anticipated to be driven by the expanding application breadth of 3D printing technology as a result of the U.S.'s fast technical advancements. Numerous businesses have made significant investments in the nation as a result of the country's growing demand for individualised products and favourable government regulations.

According to Coherent Market Insights, The global 3D Printing Material Market was accounted for US$ 1,183.5 Mn in 2019 in terms of value and expected to grow at 18% CAGR (2020-2027) in the forecast period.

The main materials utilised in 3D printing include photopolymers, thermoplastics, metals, and other materials. Ceramics, laywood filaments, and wax are included in the other material type category. The choice of material is made based on its mechanical qualities, production traits, appearance, and price. The materials' strength and adaptability are expected to increase demand across all application industries. Demand for the material is anticipated to increase because to the simplicity with which photopolymers can be used to create intricate sculptures. Additionally, it is anticipated that increased usage of 3D printing technology in the production of sophisticated equipment would accelerate industrial growth.

The main element driving the rising demand for thermoplastic material is projected to be its low cost. The demand for thermoplastics throughout the projected period is also anticipated to be driven by rising need for lightweight and durable materials in application sectors including aerospace and military, automotive, and medical. Metal is a desirable raw material in the dentistry business, where metals like titanium, aluminium, chromium, and cobalt are used to make implants. Additionally, it is anticipated that increasing demand from the aerospace industry would significantly fuel the usage of metal for 3D printing, spurring the market's expansion.

Major Companies covered in the Study are- 3D Systems, Inc., Arcam AB, Concept Laser GmbH, EOS GmbH Electro Optical Systems, ExOne GmbH, Solidscape, Inc., Optomec, SLM Solutions GmbH, Stratasys, Ltd.

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