3D Printing Materials Market

3D Printing Materials Market Size (2024-2029)

The global 3D printing materials market size is anticipated to reach approximately USD 6.41 billion by 2029, up from USD 2.27 billion in 2023, with a projected compound annual growth rate (CAGR) of 19.1% from 2023 to 2029

3D Printing Materials Market Overview

3D printing, also called additive manufacturing used to produce three-dimensional objects for the digital file. The shape of the objects is obtained by arranging the consecutive layers in the desired way. It includes manufacturing processes like injection molding and subtractive production. The 3D material market depends on the 3D printing market as this material is used in the printing of 3D objects. Many 3D materials are used, such as plastic materials like nylon, ABS, PET, and high-performance material like polyaryletherkethone (PAEK), thermoplastic polymer, etc., made from crude oil. Monomers of crude oil, coal, and natural gas are used in the production of end-user parts in the automotive and aerospace industries. The crude oil prices are fluctuating and affecting the 3D material cost.

3D Printing Materials Market Drivers

The rise in people’s adoption of 3D printing technology from traditional printing will be a driving factor for the 3D Printing Materials Market. Benefits associated with 3D printing are reduced waste, more complex designs, cost-effectiveness, and new design introductions are key drivers. The increasing knowledge regarding the usage of 3D printing technology in a variety of industries by many players is observed due to its indubitable advantages. With this technology, usage in the food, footwear, music, medical, and jewelry-making industries has been developing new products at a cheaper cost. The wide application in different sectors will increase the demand for 3D printing materials in the coming years. Additionally, 3D printing material components that are being used in the military, automotive, and aerospace applications will be a market growth driver. Some components used in the aerospace sector are being made using 3D printing, like titanium parts, due to their excellent mechanical quality and a high degree of precision in dimensions.

The developments in consumer goods and electronics will be a driver of the 3D Printing Materials Market growth. There is a key benefit in the use of 3D printing for electronics as it allows the business to internally prototype the electronic devices and printed circuit board (PCB) that, reduce the requirement for external PCB fabrication services. There is design flexibility for the usage of 3D printers, and materials are acting as a driver for the 3D Printing Materials Market. Present-day eyeglasses, carbon fiber, bikes, mascara brushes, helmet liners, and eyewear are being made using 3D materials and tools.

3D Printing Materials Market Restraints

The high cost involved in the technology hinders the 3D printing materials market expansion. 3D printing requires a high initial cost for the equipment. This technology uses more energy than normal injection molding, for the melting of plastic is done with laser or heat, which makes it inappropriate for small manufacturing industries. The expensive feature of materials used in the 3D printers of automobile industrial grade than conventional production will be a restraint. The requirement of high voltage power sources for the manufacturing of specialized components and equipment in the 3D printers will be a challenging factor for the 3D printing materials market to reach customers.

3D Printing Materials Market Opportunities

The rise in application in the Automotive industry has increased the manufacturing of scaled models for testing. Many components are made from 3D material like bellows, front bumper, air conditioning ducting, suspension wishbone, dashboard interface, alternator mounting bracket, etc. The low cost, less manufacturing time, and low material wastage are a few advantages of the 3D printing process. This makes the rise in the automotive manufacturing industry. Many key players in the automotive industry are manufacturing spare parts with this material. Increased demand for 3D printing material in the automotive industry because of its wider application will be a great opportunity for the market to grow. These factors would increase opportunities for the 3D Printing Materials Market.

REPORT COVERAGE:

COVID-19 Impact on the 3D Printing Materials Market

COVID-19 had a mixed impact on the 3D Printing Materials Market. The destruction of the supply chain and reduced demand for the market is observed during the pandemic period. The effect is mainly due to the temporary closure of the industries related to the automotive and aerospace sectors, where demand for this material is high. The positive impact is increased opportunities in health care which are seen due to increased demand for medical equipment and supplies. The shortage of raw materials and transportation issues is noticed due to the imposition of travel restrictions by the government. The challenges and opportunities are noticed in the 3D Printing Materials Market.

Key developments in the market

• In 2021, a new PC/ABS filament was announced by Covestro AG and Nexeo Plastics together for 3D printing. Nexeo Plastics’ distribution channel is used for offering this product.

• In 2021, the Introduction of the new 3D printing material (Arnite AM2001 GF (G)rPET) made of a glass-fiber filled recycled polyethylene terephthalate (rPET) was used in 3D pellet printing.

• In 2020, an agreement was made to sell the DSM additive manufacturing to Covestro AG by the DSM. Performance material and deep application expertise in 3D printing are provided by DSM additive manufacturers. This helps to rethink the way to design the products.

3D Printing Materials Market Segmentation

Material Type

• Plastics

• Ceramic

• Metals

• Other Materials

The plastic material segment is expected to have the highest market share during the forecast period in the 3D Printing Materials Market. The characteristics like versatility, availability, and low cost of the plastic material make it a more used material in 3D printing. There are wide applications like rapid prototyping, product development, and small-scale production industries.

Form

• Powder

• Filament

• Liquid

The filament category is expected to have a high CAGR in the form segment in the 3D printing materials market during the forecast period. In the production process of the props, jigs & fixtures, toys, and electrical models, these filaments are used, and their unique features and high melting temperatures are altogether responsible for the market’s rapid growth. The powder category is the next best, with a high market share in the form segment.

End-user Industry

• Automotive

• Medical

• Aerospace and Defense

• Consumer Electronics

• Other End-user Industries

The medical industry is expected to dominate the 3D printing materials market. 3D printing technology is used in the production of various medical items like surgical instruments, prostheses, and implants. 3D printing materials are very useful in medical applications like orthopedic, dental, and craniomaxillofacial. Used in manufacturing medical equipment like the anatomy of the patient for learning using additive manufacturing.

3D Printing Materials Market Regional Analysis

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

North America is expected to have a high market share in the region segment during the projected period. The market value for the region is expected to be USD 1.09 billion by 2028. The favorable trends in the medical and aerospace industries will be favorable factors for the market to expand in North America. The adoption of 3D printers in various sectors and in the increased selection of materials will be a market growth potential. The government of America has taken initiatives for the development of 3D printing, and funding for the research and development together will accelerate the market in the 3D Printing Materials Market. Asia-Pacific region is the next high market share in terms of the region due to the presence of China, where more market growth attributes are present.

3D Printing Materials Market Key Players

3D Systems Corporation (U.S.), HP INC. (U.S.), Proto Labs, Ltd., (U.S.), Hoganas AB (Sweden), Royal DSM N.V. (Netherlands), Lithoz GmbH (Austria), The ExOne Company (U.S.), Markforged, Inc. (U.S.), Sculpteo (France), EnvisionTEC, Inc. (U.S.)