3D Printing Material Market Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

 

3D Printing Material Market

Critical metal and plastic components are manufactured using 3D printing materials. These materials are widely used in the production of aerospace components because they aid in the production of lightweight and fuel-efficient aircraft. There are three types of 3D printing materials: filament, liquid, and powder.

The aerospace industry was an early adopter of 3D printing technology. The technology is extremely useful for manufacturing complex parts. It gives designers the advantage of producing the best parts at the lowest possible cost. Metals, for example, are used in the manufacture of many aircraft parts such as wings, jigs, and engine parts. Titanium materials are commonly used in the aerospace industry as 3D printing materials because they have excellent mechanical properties and high dimensional accuracy during production. 3D printing technology is revolutionising the automotive manufacturing process.

The technology has enabled the industry to create more complex and lighter structures at lower costs. 3D-printed parts are used in many Formula One, supercars, and concept cars. For example, in the first quarter of 2018, Bugatti (France), a leading car manufacturer, revealed a 3D-printed brake calliper made of titanium.

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.

Government support for 3D printing technology is boosting the market for 3D printing materials. The technology of 3D printing is widely used in the defence and military sectors. Military products that can withstand harsh functional testing can be produced using 3D printing technology. The government of various countries is heavily investing in experimenting with and exploring 3D technology, which is further propelling market growth.

Rapid urbanisation and industrialization are propelling the global market for 3D printing materials. The rise in various manufacturing sectors, combined with an increase in urban population, is driving 3D printing material market growth. Furthermore, increasing grants from various regulatory bodies to adopt 3D printing technology are expected to drive 3D printing material market growth.

Health concerns about the materials used in printing technology are limiting market growth. The materials used in printing technology are highly toxic and can cause a variety of health problems. Products made with 3D printing technology are less durable than those made with other casting technologies. This factor limits the adoption of this technology, stifling the market growth of 3D printing technology.

Top Companies involved are 3D Systems, Inc., Arcam AB, Concept Laser GmbH, EOS GmbH Electro Optical Systems, ExOne GmbH, Solidscape, Inc., Optomec, SLM Solutions GmbH, Stratasys, Ltd.