GCC and Levant 3D Printing Materials Market was valued at US$ 0.4 Mn in 2022, exhibiting a CAGR of 14.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 1.2 Mn by 2030. By GCC and Levant 3D Printing Materials Market, By Filament Type (ABS, PLA, HIPS & PVA, Nylon, Wood, PET, Metals, Ceramics, Others), By Application (Electronics & Consumer Goods, Automotive, Medical, Industrial, Education, and Aerospace), By Diameter Type (1.75 mm, 3 mm, others) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030, published By: Coherent Market Insights.
3D printing materials are majorly produced from thermoplastics and is also comes in the form of metal filaments, granule, and resin. 3D printing is widely used across various end-use industries such as healthcare, automotive, and aerospace & defense. In the automotive industry, it is used in the wing mirror, mobile cases, and other automobile components. In the aerospace industry, it is used in the metal materials and in the medical industry it is used in the production of various medical &dental implants.
Drivers
Increasing focus of various governments in GCC and Levant countries
Increasing focus of various governments in GCC and Levant countries on increasing funding for development of the innovative product by using 3D printing technology in order to diversify their economy, excluding the oil & gas sector is predominantly fueling the market growth. Moreover, various universities in Israel, Qatar and the UAE are entering into a partnership with foreign universities to explore the potential application of 3D printing for various end-use applications is further expected to fuel the market growth.
Market Opportunities
Rising demand for 3D printing materials from electronic and consumer applications
The rising demand for 3D printing materials from electronic and consumer applications is estimated to have a positive impact on market growth. Other emerging applications are architecture, education, and construction industry. Therefore, expanding application of 3D printing materials is projected to accelerate market growth over the forecast period.
Market Restraints
The high cost of 3D printing materials
The high cost of 3D printing materials is expected to hinder the market growth over the forecast period. According to the Coherent Market Insights analysis, 3D printing material accounts for over 50% of the overall production costs as these materials require additional preparation before the production process, which increases the overall cost production. This is expected to hamper the market growth.
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Key Takeaways
On the basis of diameter type, 1.75 mm dominated the GCC and Levant 3D printing materials market in 2022 with around 73% of market share in terms of revenue, followed by 3 mm and others, respectively.
Market Trends
Growing the use of 3D printing materials across the automotive sector
The growing use of 3D printing materials across the automotive sector to produce lightweight and durable components of the automobile is projected to accelerate the market growth. Moreover, the automobile manufacturer is rapidly adopting high-performance thermoplastics such as nylon in the manufacturing lightweight automobile component to make vehicle fuel-efficient.
Rising use of laywood filament
Rising use of laywood filament, which is composed of recycled wood and polymer binder as a 3D printing material in the establishment of large architectural models and sculptures is expected to be a major trend in the market. Moreover, 3D printing materials are used in producing simple structures such as armrests which are further expected to augment market growth.
Competitive Section
Key players are operating in the GCC and Levant 3D printing materials market are 3D Systems, Stratasys Ltd., Beijing Tiertime Technology Co. Ltd., ExOne Co., 3D Filament Manufacturing, Coex LLC, and MatterHackers Inc.
Few Recent Developments
Stratasys Ltd.
In October 2019, Stratasys has launched a new line of durable, temperature and chemical resistant thermoplastics designed for 3D printed tooling and “production-grade” parts. The new FDM materials include Antero 840CN03 for the Stratasys Fortus F900 3D printer, and Diran 410MF07 and ABS-ESD7 for the Stratasys F370 3D printer.
