The global 3D printing materials market size was evaluated at USD 3.09 billion in 2022 and it is expected to hit around USD 12.7 billion by 2030 with a noteworthy CAGR of 19.32% from 2022 to 2030.
The global producing sector's increased expenditure on research and development is what is driving the market for 3D printing materials. The market is expected to increase as a result of the rising demand for 3D printing and improved materials in a variety of industries, including the automotive, aerospace, and military sectors. Additionally, 3D printing lowers the possibility of mistakes and is highly desirable for manufacturing, which is anticipated to fuel market expansion.
However, factors like the high cost of 3D printing materials and the fact that the final product is less durable than those made using conventional molding and casting techniques are major barriers to market expansion. The COVID-19 pandemic has had a negative impact on the demand for 3D printing materials across a range of end-use industries, including the construction, automotive, and defense sectors.
The COVID-19 virus adversely harms these businesses. Due to delays or non-arrival of raw materials, irregular cash flows, and an increase in staff absences on the assembly line, craft, and vehicle manufacturers are forced to operate at zero or partial capacity, which lowers the demand for 3D printing materials.
One of the markets for 3D printing materials with the highest growth is education. Despite the fact that the use of 3D printing in education is still in its early stages, several institutions are moving forward with the technology.
3D Printing Materials Market Report Scope
| Report Coverage | Details |
| Market Size in 2022 | USD 3.09 Billion |
| Market Size by 2030 | USD 12.7 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 19.32% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2022 To 2030 |
| Segments Covered | By Technology, By Foam, By Type, By Application and By End User |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Report Highlights
Regional Snapshots
The market for 3D printing materials is dominated by North America, and this trend is anticipated to last during the projected period. The aerospace & military and automotive sectors' increasing need for metal resources is a major factor in the increased use of 3D printing materials. Additionally, the market is expanding due to the use of 3D printing for dental and medical implants in the healthcare sector.
The collapse of the automobile, electrical and electronics, aerospace & military, and other industries as a result of the COVID-19 pandemic has negatively impacted the market for 3D printing materials. After 2020, however, there will be a growth in demand for metal 3D printing materials due to the recovery of all industries and the strong performance qualities of these materials. During the forecast period, these factors are anticipated to fuel the need for 3D printing materials in the area.
Market Dynamics
Drivers
The need for 3D printing materials is expected to increase as a result of the aerospace and defense and automotive industries. One of the first industries to use 3D printing technology was the aviation sector. For making intricate pieces, technology is quite helpful. It offers designers the benefit of making the best parts at lower costs and with feasible production. Many aircraft parts, including wing tips, jigs, and engine components, are made using 3D printing materials, such as metals.
As titanium has great mechanical qualities and high dimensional precision during production, it is frequently utilized as a 3D printing material in the aerospace sector. The car industry's production process is changing because to 3D printing technology. The industry has benefited from the technology by producing structures that are more cost-effectively complicated and lighter.
Supercars, concept cars, and parts from Formula 1 frequently use 3D-printed components. For instance, the top automaker, Bugatti (France), unveiled a titanium-made 3D-printed brake caliper in the first quarter of 2018.
Restraints
The market for 3D printing materials is severely constrained by the high cost of materials. Although 3D printing is a simpler method of producing goods, it is expensive owing to high material prices, which is a significant market limitation. Higher purity and composition criteria necessary for 3D printing are the cause of these high costs. The typical cost of metal for 3D printing is around USD 500.0 per kg, which makes it highly expensive to use in ordinary applications since the cost of the finished product is too high in comparison to the goods on the market.
Opportunities
An interesting potential for 3D printing materials is the expanding demand from the educational sector. Market
In the market for 3D printing materials, education is one of the sectors that is expanding the quickest. Despite the fact that the use of 3D printing in education is still in its early stages, several institutions are beginning to set up 3D printing laboratories. The typical classroom is being revolutionized by 3D printing technology. For instance, biology students may analyze organ cross-sections, engineering students could really print prototypes of their inventions, and graphic design students can print 3D representations of their ideas.
The creation of interactive maps for use in geography lessons for kids is a great use of 3D printing. Additionally, several governments are making significant investments in 3D printing technologies. For instance, the Ministry of Economy, Trade, and Industry (METI) of Japan will pick a few universities and technical schools to get a subsidy for two-thirds of their costs associated with 3D printing technology for their institutions.
Challenges
One of the biggest issues facing the market for 3D printing materials is reducing lead times. Reducing the lead time associated with these materials, particularly metals, is one of the major issues encountered by the makers of 3D printing materials. The process of making metal items takes a long time. Manufacturers must develop new materials and 3D printing-specific technology in order to solve this problem.
The adoption of 3D printing in important end-use industries, such as aerospace & defense, automotive, and electrical & electronics, is being hampered by the high lead times required by the industry, which prevents the majority of manufacturers from switching from their conventional manufacturing process to additive manufacturing.
Recent Developments
Major Key Players:
Market Segmentation
By Technology
By Foam
By Type
By Application
By End User
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