The 3D printing material market is projected to grow at a CAGR of 18.21% to reach US$18.391 billion by 2026, from US$5.702 billion in 2019. 3D printing materials are those materials that can be easily used in 3D printers for the production of the desired object or component. The 3D printing materials are an additive manufacturing process used for accomplishing three-dimensional solid objects by adding subsequent layers of materials to compose the object.
The rising adoption of 3D printed components in the healthcare sector, aerospace and defense, and the automotive sector is one of the major factors driving the market growth during the forecast period. The 3D printing materials have benefits such as low cost, less manufacturing time, reduced material wastage, etc. which are encouraging industries such as automotive and aerospace to actively use them in their processes. The increased public and private spending on these industries will fuel the market demand for 3D printing materials during the forecast period. In addition, the development of low-cost devices, and the decrease in the price of materials required for 3D printing are anticipated to proliferate the market growth.
Moreover, the driving factor for the 3D printing material market is the rise in the demand for desktop printing, nationwide. Also, the demand for metals is surging owing to the increasing penetration in high-end applications such as structural parts in the automotive and aerospace industry.
Furthermore, the rising adoption of prototyping for product designs, sampling, and conceptual modeling is further expected to positively impact the 3D printing material market growth during the coming years.
By end-user industries, the healthcare and automotive industry account for the dominant market share owing to the excessive use of 3D printing materials in the industries for multiple applications. The aerospace and defense industry is also projected to grow at a high CAGR due to the increased spending in the sector. Geographically, Asia Pacific will be the fastest-growing region owing to the flourishing industries such as automotive, and healthcare in the region, especially in countries such as India and China. North America is also expected to hold a notable market share due to the early adoption of these materials across various industries. Also, the increased healthcare expenditure of the region will strengthen the regional growth.
The major key driver of the 3D printing material market is the surging use in the automotive industry. These materials are largely used in the automotive industry for components, like bellows, dashboard interface, front bumper, suspension wishbone, alternator mounting bracket, air conditioning ducting, battery cover, etc. Automotive OEM manufacturers use 3D printing materials for rapid prototyping. The extensive use of 3D printing material for multiple applications in the automotive industry will drive market growth during the forecast period.
The rising demand for 3D printing material from the Chinese market will drive the market growth during the forecast period as China is one of the fastest-growing economies globally. The flourishing automotive, construction, aerospace, and healthcare market in China has been witnessing staggering growth for 3D printing material. China has been using 3D printing material in the construction industry since 2015, which has encouraged other countries to adopt this technology. China has been using these materials for the construction of buildings, offices, and bridges, which will contribute to the market growth during the forecast period.
The Covid-19 pandemic negatively impacted the 3D printing material market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the business operations of many industries such as automotive, aerospace, construction, etc. were put to a halt which in turn declined the demand for 3D printing material in 2020 as the industries suffered huge losses. Also, due to the supply chain disruptions, the 3D printing materials were unable to reach a end-user industry which further hampered the market growth. However, the surging demand for these materials in the healthcare industry globally balanced the market growth.
The market leaders for the 3D printing material market consist of Stratasys, Ltd., Materialise NV, 3D Systems, Inc., EnvisionTEC, CRS Holdings Inc., Ultimaker B.V., Covestro AG, and Arkema S.A. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in September 2020, DSM announced to sell the DSM additive manufacturing to Covestro AG for EUR 1.61 billion, as part of the sale of DSM Resins & Functional Materials and (other) related businesses.
Driving Factors
The rising adoption of 3D printed components in the healthcare sector, aerospace and defense, and the automotive sector is one of the major factors driving the market growth during the forecast period. The 3D printing materials have benefits such as low cost, less manufacturing time, reduced material wastage, etc. which are encouraging industries such as automotive and aerospace to actively use them in their processes. The increased public and private spending on these industries will fuel the market demand for 3D printing materials during the forecast period. In addition, the development of low-cost devices, and the decrease in the price of materials required for 3D printing are anticipated to proliferate the market growth.
Moreover, the driving factor for the 3D printing material market is the rise in the demand for desktop printing, nationwide. Also, the demand for metals is surging owing to the increasing penetration in high-end applications such as structural parts in the automotive and aerospace industry.
Furthermore, the rising adoption of prototyping for product designs, sampling, and conceptual modeling is further expected to positively impact the 3D printing material market growth during the coming years.
Market Share Segmentation
By end-user industries, the healthcare and automotive industry account for the dominant market share owing to the excessive use of 3D printing materials in the industries for multiple applications. The aerospace and defense industry is also projected to grow at a high CAGR due to the increased spending in the sector. Geographically, Asia Pacific will be the fastest-growing region owing to the flourishing industries such as automotive, and healthcare in the region, especially in countries such as India and China. North America is also expected to hold a notable market share due to the early adoption of these materials across various industries. Also, the increased healthcare expenditure of the region will strengthen the regional growth.
Growth Factors
Growing use in the automotive industry
The major key driver of the 3D printing material market is the surging use in the automotive industry. These materials are largely used in the automotive industry for components, like bellows, dashboard interface, front bumper, suspension wishbone, alternator mounting bracket, air conditioning ducting, battery cover, etc. Automotive OEM manufacturers use 3D printing materials for rapid prototyping. The extensive use of 3D printing material for multiple applications in the automotive industry will drive market growth during the forecast period.
Huge demand from the Chinese market
The rising demand for 3D printing material from the Chinese market will drive the market growth during the forecast period as China is one of the fastest-growing economies globally. The flourishing automotive, construction, aerospace, and healthcare market in China has been witnessing staggering growth for 3D printing material. China has been using 3D printing material in the construction industry since 2015, which has encouraged other countries to adopt this technology. China has been using these materials for the construction of buildings, offices, and bridges, which will contribute to the market growth during the forecast period.
Impact Of COVID–19 On The 3d Printing Material Market
The Covid-19 pandemic negatively impacted the 3D printing material market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the business operations of many industries such as automotive, aerospace, construction, etc. were put to a halt which in turn declined the demand for 3D printing material in 2020 as the industries suffered huge losses. Also, due to the supply chain disruptions, the 3D printing materials were unable to reach a end-user industry which further hampered the market growth. However, the surging demand for these materials in the healthcare industry globally balanced the market growth.
Competitive Insights
The market leaders for the 3D printing material market consist of Stratasys, Ltd., Materialise NV, 3D Systems, Inc., EnvisionTEC, CRS Holdings Inc., Ultimaker B.V., Covestro AG, and Arkema S.A. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in September 2020, DSM announced to sell the DSM additive manufacturing to Covestro AG for EUR 1.61 billion, as part of the sale of DSM Resins & Functional Materials and (other) related businesses.
Segmentation:
By Material Type
- Metals
- By Type
- Aluminum
- Nickle
- Steel
- Others
- By Form
- Filament
- Powder
- Liquid
- Plastic
- By Type
- PLA
- PET
- ABS
- Others
- By Form
- Filament
- Powder
- Liquid
- Ceramics
- Others
By End-User Industry
- Healthcare
- Automotive
- Aerospace and Defense
- Construction
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- Indonesia
- Taiwan
- Thailand
- Others
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. 3D Printing Material Market Analysis, By Material Type
6. 3D Printing Material Market Analysis, By End-Use Industry
7. 3D Printing Material Market Analysis, By Geography
8. Competitive Intelligence
9. Company Profiles
Companies Mentioned
- Stratasys, Ltd.
- Materialise NV
- 3D Systems, Inc.
- EnvisionTEC
- CRS Holdings Inc.
- Ultimaker B.V.
- Covestro AG
- Arkema S.A.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 129 |
| Published | August 2021 |
| Forecast Period | 2019 - 2026 |
| Estimated Market Value ( USD | $ 5.7 billion |
| Forecasted Market Value ( USD | $ 18.39 billion |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
