The market of 3D printing has witnessed drastic changes since its initial years and has expanded over many end-use industries including healthcare. The 3D printing material market has become more pervasive with rapid technological advancement and the expansion of 3D printing industry, transforming the dynamics of manufacturing industry. The deep chasm between the digital and physical has been bridged with the innovation of 3D printing and now people are widely using this emerging technology for a physical representation of their digital design and products.
Starting initially with prototypes, 3D printing has taken the world by storm, by producing prosthetics, complex mechanisms, batteries, robot, clothing and food, among other fully functional components. Now with the rapid technological developments in 3D printing technology, wide range of 3DP materials and high speed of manufacturing is disrupting the market and paving the way for future growth. The global 3D printing materials market is estimated to reach $1.52 billion by 2022 at a CAGR of 17.6% through 2016 to 2022.
Now industries such as automotive, aerospace & defense, healthcare and consumer sector, have high demand for 3D printing technology, which is helping in the growth of 3D printing industry. The main concentration of this industry, as of now, is to spread awareness about this industry and its various end-use in the global market. Several factors such as high cost and compatibility of 3D materials, and lack of channel partner assistance are restraining the growth of the market.
The global 3D printing materials market generated market size of $504.70 million in 2015, and is undergoing innovations in designing and material development which has attracted companies like GE Aviation, Boeing, Airbus, BMW, Lamborghini and many others. These companies are using this emerging technology to develop prototypes and manufacture end-user products. A wide variety of 3D printing materials are being developed by the market players, manufacturers and suppliers, with the focus now on application based 3D printing materials. Researchers and scientists are continuously working on 3D printing technology, to make it easier and available to everyone, and deem it necessary for the future purposes.
The global 3D printing materials market can be divided along the lines of materials, forms, technologies, application areas, and geography. The wide variety of 3D printing materials include plastics, photopolymers, metals & metal alloys, ceramics among others. Among these, plastic material holds the largest share, that of 51%, in the global 3D printing materials market, while other components hold comparatively lesser share. Among 3DP materials, 3D printing filament holds the largest share and is expected to grow at a CAGR of 16.0% from 2016 to 2022.
Geographically, North America contributes the largest share of revenue generation to the 3D printing materials market, and is expected to grow at a CAGR of 16.9%, from 2016 to 2022. This is followed by Europe, while Asia Pacific region is expected to show a significant growth and acquire a larger market share, owing to the factors such as growing consumer base, increasing research and developments in 3D printing materials and growing investment from governments in 3D printing industry.
BIS Research has compiled an extensive market research report on ‘Global 3D Printing Materials Market – Analysis and Forecast 2016-2022’. The market analysis report provides an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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