3D PRINTING MATERIALS MARKET ANALYSIS

Global 3D printing materials market was valued at US$ 1287.8 Million in 2022, in terms of revenue, exhibiting a CAGR of 10.6% during the forecast period (2023 to 2030).

Global 3D Printing Material Market: Growth Drivers

Growing End User Demand for 3D Printing to Fuel Market Growth

The rising demand from numerous end users is one of the main drivers for 3D printing materials. As 3D printed parts are increasingly used in military, automotive, and aerospace applications, the industry is anticipated to grow. For producing components with complex patterns, 3D printing technology has shown to be quite beneficial. Designers can easily and affordably produce complicated pieces thanks to 3D printing. Since titanium has excellent mechanical qualities and high dimensional precision, aerospace industry parts manufactured of it are frequently 3D printed. The aforementioned elements should accelerate market expansion. For instance, in 2021, Porsche, has relied on the competence of Mahle in the development of the 3D-printed pistons, just as it did for the production forged pistons in the 911 GT2 RS. The technology company has developed a weldable powder for additive manufacturing from their proprietary Mahle aluminum alloy M174+.

3D printing is widely used in the aerospace industry

One of the major markets for 3D printing materials is the aircraft sector. Traditional technologies cannot be utilized to prototype and produce complicated geometrical pieces or specialized low-volume parts, but 3D printing can. In component production, it cuts down on lead time. For instance, in 2022, according to the most recent market trends for 3D printing materials, the aerospace application category will have a significant proportion of 26.8% in 2022. By 2030, it is projected to be worth US$ 4.2 billion.

Global 3d Printing Material Market: Restraints

The market is anticipated to be hampered by 3D printing materials' high production costs

Materials are utilized for 3D printing in unconventional forms such powder, filament, and liquid. The cost of materials is increased by the processing necessary to convert normal materials into those that may be used for 3D printing. One of the key challenges limiting the market's growth is the cost of 3D printer-compatible materials, which may be up to 10-15 times more expensive than materials used in conventional manufacturing techniques. For instance, in 2021, according to the Hubs Protolabs Company, each 3D printing technology comes with its own host of polymer materials. Spools of filament for FDM (fused deposition modeling) tend to be relatively cheap, while SLA resin and SLS and MJF powders are, in general, more expensive. The amount of material required to print the part will directly affect the price.

Figure 1. Global 3D Printing Materials Market Value Share (%), By Region, 2022

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Global 3D Printing Material Market: Market Trend

One of the expanding trends in the market for 3D printing materials is the continuous product innovation by major market participants. For instance, Sculpteo and BASF introduced a new line of high-performance 3D printing materials in July 2020. The newly launched three materials are intended for use in the automobile industry and have the requisite characteristics needed there.

The market is expanding as a result of the increased usage of thermoplastic materials in 3D printing processes such as fused deposition modelling (FDM), which produces strong, lightweight medical goods. For the production of implants, metals including titanium, cobalt, chromium, and aluminum are frequently employed in the dentistry sector.

Global 3D Printing Material Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 epidemic has had a negative impact on a number of economies worldwide. All industry sectors have been impacted by the COVID-19 pandemic's worldwide uncertainty. Globally, the COVID-19 epidemic has a detrimental effect on the market for 3D printing materials. However, the worldwide market for 3D printing materials was least affected by the healthcare industry due to a spike in demand for medical supplies and devices for the COVID-19 therapy. There are several prospects for 3D printing businesses and manufacturers worldwide as a result of the utilization of 3D printing materials to produce medical equipment and personal protection equipment during the pandemic.

Figure 2. Global 3D Printing Materials Market Value Share (%), By Product Type, 2022

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Global 3D Printing Material Market: Market Segmentation

North America held dominant position in the global 3d printing materials market in 2022, accounting for 36.60% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Global 3D Printing Material Market: By Product Type

The plastics segment in product type dominated the global 3D printing materials market in 2022, accounting for 54.50% share in terms of value, followed by metals and ceramics segments, respectively

Global 3d Printing Material Market: Recent Developments

In September 2020, HI-Temp 300-AMB and PRO-BLK 10 are two brand-new 3D printing materials from 3D Systems, the inclusion of the additional products will widen the company's product offering and improve customer application alternatives.

In November 2021, the purchase of Sculpteo by BASF, the second-largest chemical producer in the world and a German corporation. With the new breakthrough, BASF hopes to strengthen its position in the 3D printing market and widen its sales channel.

In October 2020, Royal DSM, announced the release of Somos WaterShed Black, a new Stereolithography 3D printing resin. The new 3D printing resin is based on the proven technology of Somos WaterShed XC 11122 which processes up to 50% faster than other black photopolymers.

In September 2022, SABIC, announced a new flame-retardant 3D printing material LNP THERMOCOMP AM DC0041XA51, to be used in the railway industry. The company debuted the material at Berlin's InnoTrans 2022.

Global 3d Printing Material Market: Key Companies

Major players operating in the global 3D printing materials market include 3D Systems, Inc., Arcam AB, Concept Laser GmbH, EOS GmbH Electro Optical Systems, ExOne GmbH, Solidscape, Inc., Optomec, SLM Solutions GmbH, and Stratasys, Ltd.

*Definition: Plastic and metal components are produced using 3D printing materials. These materials are frequently utilised to create aerospace components because they aid in the creation of light and fuel-efficient aircraft. The three types of 3D printing materials are filament, liquid, and powder.