3D Printing Materials Market 2020 Growth, by Size, Share to 2026
by Bhagyashri Bhole in Accuracy in Media
The global 3D printing materials market size is projected to reach USD 3.78 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period. Extensive utilization of 3D printing materials in aerospace industry will be one of the main growth-drivers for this market, The aerospace industry has been harnessing the power of 3D printing technology for the past few decades. 3D printing materials are commonly used in this industry to build design prototypes through processes such as material jetting and SLA. Furthermore, organizations such as NASA and the Air Force also use surrogate parts that developed via 3D printing to act as placeholder parts, replicating components that are later installed during the finally assembly. Thus, this additive technology and its materials have high demand in aerospace and are likely to remain so in the foreseeable future.
Rising Applicability of 3D Printing in Healthcare to Stoke Market Growth
The 3D printing materials market growth is slated to get augmented in the coming years owing to the widening applicability of additive manufacturing techniques in the healthcare sector. Recent breakthroughs in this sector using 3D printing are a testament to its vast potential. For example, in 2019, TU Wien, a renowned Austrian university, developed a unique bio-ink to embed cells in a 3D matrix using 3D printing materials. These embedded cells are expected to enable controlled investigation of cell behavior and tissue growth. Another milestone was reached January 2020, when researchers at the Northwestern University Feinberg School of Medicine located the structural proteins in swine ovaries. This finding can empower medical professionals to create artificial ovaries in humans using 3D printing materials and processes. Thus, this technology offers promising prospects for the healthcare industry and help breach new frontiers of medical research.
Strong Funding for Industrial R&D to Propel the Market in North America
North America is anticipated to dominate the 3D printing materials market share during the forecast period in terms of revenue and size. In 2018, the region’s market size was at USD 0.58 billion owing to the surging demand for 3D printing in the aerospace, defence, and medical industries. This demand is rooted in the fact that this technology is both energy-efficient and cost-effective. In Europe, additive manufacturing is being heavily employed to produce implants and prosthetics for the healthcare sector. On the other hand, the market in Asia-Pacific is expected to grow at an impressive rate on account of wide usage of 3D printing materials in various end-user industries, including automotive, healthcare, and military.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/3d-printing-material-market-102296
List of Companies Profiled in the 3D Printing Materials Market Report:
- American Elements
- Covestro AG
- Höganäs AB
- GE Additive
- Royal DSM N.V.
- EOS GmbH
- Materialise NV
- Stratasys Ltd.
- BASF SE
- Evonik Industries AG
- 3D Systems, Inc.
Strategic Launch of Advanced Products to Intensify Market Competition
Development and launch of advanced additive solutions and materials is rapidly emerging as the dominant strategy among players in this market. Apart from this, companies are collaborating with each other expand their innovation capabilities and deepen their foothold in the market.