3D Printing Materials Market 2024: Industry Dynamics and Growth Drivers Until 2032 |
Posted: August 28, 2024 |
3D printing has revolutionized manufacturing processes across various industries, from aerospace and automotive to healthcare and consumer goods. As this technology continues to advance, so too does the demand for innovative and high-performance materials. The 3D printing materials market is experiencing rapid growth, driven by factors such as increasing adoption of additive manufacturing, advancements in material science, and the need for customized and complex products. The global 3D printing materials market size was USD 1.53 billion in 2018 and is projected to reach USD 3.78 billion by 2026, exhibiting a CAGR of 12.1% during the forecast period. North America dominated the 3d printing materials market with a market share of 37.91% in 2018. 3D Printing Materials Market DriverRising 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. Key Trends in the 3D Printing Materials Market
Regional AnalysisStrong Funding for Industrial R&Dto 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. Source- https://www.fortunebusinessinsights.com/3d-printing-material-market-102296 Major Applications of 3D Printing Materials
Competitive Landscape 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. 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., Solvay, BASF SE, Evonik Industries AG, ExOne, Arkema, 3D Systems, Inc.
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