3D Printing Materials Market Size to Surpasst

3D Printing Materials Market Size to Surpass at $9.86 billion by 26.7% growth rate

The market for 3D Printing Materials:

The global 3D Printing Materials Market will increase to $9.86 billion in 2028. This represents a 26.7 percent growth in the market's CAGR over the 2021-2028 period forecast. This growth in the market is supported by the growing demands for 3D printing materials along with mass customization and government initiatives to promote 3D printing. The future of 3D printing tools in the field of education is expected to have significant market growth potential. 3D printing is the printing of three-dimensional objects using digital data. 3D printing is more effective than conventional manufacturing techniques like injection molding or subtractive manufacturing. 3D printing products are popular due to the demand from different users, including aerospace, healthcare, military, and automotive.

3D Printing Materials Market Drivers

 In order to drive market growth, 3D printers are in high demand from end-users

The increasing demand from different users is among the key drivers for the 3D printing industry. The market for 3D-printed components will likely grow due to increased use for aerospace, military, and automotive applications. For manufacturing intricate parts, 3D printing has proved to be an extremely efficient technology. 3D printing permits engineers and designers to make complex components at low cost and with high production speeds. Products made of titanium are often 3D printed because of their excellent mechanical properties and high accuracy. These characteristics will aid in market growth.

3D Printing Materials Restraining factors:

3D printers are 10 to 15% more than traditional processes

Materials can be utilized for 3D printing in non-standard formats such as liquids or powder, or even filament. Material costs increase when materials are converted from their standard forms into those that can be employed for 3D printing. The costs of materials that are compatible with 3D printers could range from 10-15 percent higher than materials that are used for traditional manufacturing processes. This is one of the major reasons that has impeded the growth of the market.

3D Printing Materials Key Market Trends:

3D printing offers many benefits that include less production waste, design complexity, and cost-effectiveness. Manufacturers from many sectors have embraced 3D printing for their manufacturing requirements. Jewelry, food, footwear medical, music, and food are all using 3D printing to create new products at lower costs. 3D printing technology is increasing in popularity due to its capacity to reduce weight, enhance quality, lower inventory, and increase the amount of customization.

3D Printing Materials Market Recent developments:

Covestro AG introduced a new 3D printing material market (ArniteAM2001GF(G) rPET) in May 2021. The material is made of recycled polyethylene Terephthalate filled with glass fibers (rPET) to enable 3D printing. It is made from post-consumer PET. Covestro AG announced that Nexeo Plastics & Nexeo have developed Addigy FPB 268443D, which is a PC/ABS filament that can be used for 3D printing. The distributor network for Nexeo Plastics has this product.

3D Printing Materials Market Key Companies:

This market for 3D printing material comprises Hoganas AB, 3D Systems Corporation,  General Electric, Arkema S.A., Royal DSM N.V., Stratasys Ltd., and Evonik Industries AG.  EOS GmbH, Sandvik AB, and Other Key Major players

Segmentation of the 3D Printing Materials Market:

The 3D Printing Materials Market Report provides segmentation by type and application along with the end-user as well as geography. The report provides an in-depth analysis of every segment. It helps market players and other stakeholders to understand what segments are growing fast and which are most profitable. Forecasts and precise calculations of revenue growth by type and application are provided in the report.

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