May 04, 2021
Expanded Applications of 3D Printing Material Contributes to Market Growth, Evaluates Fact.MR
by Team Fact.MR
3D printing materials market has witnessed noteworthy growth in the past few years. Rise in demand of customized products across several industries including automotive, healthcare and others have fuelled the market growth of 3D printing materials globally. There has been immense growth in demand for 3D printing materials, especially in the health care industry where they are used for creating artificial organs such as kidney cells, human liver and other human organs for transplanting.
Furthermore, recent development in the printing material coupled with government favouring policies are anticipated to drive more demand for 3D printing materials market.
As per the report published by Fact.MR, the global 3D printing materials market is anticipated to exceed a valuation of around US$ 1309 Mn by 2021, and is expected to expand at an impressive CAGR of around 26% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- South Asia is estimated to witness higher growth in the forecast period, as compared to historical period, accounting over 32% growth.
- In 2020, North America is anticipated to register highest market share of around 38%, followed by Europe.
- In terms of form, filament held around 41% of the overall market share in 2020.
- In terms of technology, fused filament fabrication is estimated to cover higher market share in 2020, accounting for around 31%.
- In 2020, the automotive industry has accounted highest share among the vertical of 3D printing materials, with over 31%.
“Scientific instrumentation stands as an untapped vertical for 3D printing material market. These materials can be used for a variety of applications, catering to biological and mechanical lab components production,” says a Fact.MR analyst.
The recent technology advancement in the 3D printing material with fused filament fabrication is anticipated to grow during the forecast period, owing to expanded applications in several industries with versatile properties. Key players in the market are offering 3D printing materials with fused filament technology to target consumer goods vertical as well. Furthermore, surge in covid-19 has hampered the market growth. However, healthcare industry boosted the demand of 3D printing materials, owing to production of medical components.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global 3D printing materials, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study reveals essential insights on the basis of Form (Powder, Filament, and Liquid), Technology (Fused Filament Fabrication, Selective Laser Sintering, Stereolithographic, Direct Metal Laser Sintering, and Others), Type (Plastic, Metal, Ceramic, and Others) Application (Prototyping, Manufacturing and R&D) Vertical (Automotive, Aerospace & defence, Healthcare, Consumer Goods, Construction, and Others) across seven regions of the world (North America, Latin America, Europe, South Asia, East Asia , Oceania, and MEA).
Fact. MR’s Domain Knowledge in Chemicals and Materials
Our chemicals and materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemicals and materials sector. Our expertise in recognizing the challenges and trends impacting the global chemicals and materials industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Consultant - Chemicals and Materials
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