“3D Printing Materials Market by Form (Powder, Liquid, Filament), Type (Plastic, Metal, Ceramic), Technology, Application, End-Use Industry (Automotive, Aerospace & Defence, Healthcare, Consumer Goods, Construction), and Region – Global Forecast to 2027″, is expected to grow from USD 2.5 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 25.6% during the forecasted period.
The market for 3D printing materials is expanding significantly due to rising demand from the consumer products, automotive, aerospace and defense, and healthcare industries.
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Some of the prominent key players are:
· 3D Systems Corporation (US)
· Stratasys (US)
· Arkema SA (France)
· Materialise NV (Belgium)
· Evonik Industries AG(Germany)
· General Electric (US)
Opportunity: Adoption of 3D printing technology in home printing
Although 3D printing technology has been available for the past 30 years, the availability of home 3D printers is what has caused a sudden spike in buzz. Due to the incredibly low cost of these home printers, there is a greater demand for 3D printers at home, which is driving up the market for 3D printing materials. These days, one may make affordable goods in a comparatively short amount of time using these printers, which are found in homes, workplaces, computer stores, and retail centers.
In terms of volume, plastics to hold the largest market share during the forecast period
Demand for 3D printing plastics has significantly risen for creating prototypes over the past few years. Higher numbers of manufacturers are expected to utilize additive manufacturing for high-volume production. Lucrative market opportunities prevail for the market in aftermarket applications as manufacturers increasingly utilize additive manufacturing technology to produce new components in the aftermarket industry. The car manufacturing business has seen several notable changes as a result of 3D printing plastics, including the creation of lighter, safer, and more innovative products. For high-volume direct manufacturing and the creation of automobile prototypes, several original equipment manufacturers (OEMs) use additive manufacturing.