DUBAI, United Arab Emirates, 02 Feb. 2022 (GLOBE NEWSWIRE) — The world 3D printing materials market reached US$1.3 billion in 2021. Sales are expected to be driven by expansion in the automotive, medical, aerospace, electronics and industrial sectors. The market is expected to grow at 14.0% CAGR during the evaluation period.
The global 3D printing materials market is expected to grow at an impressive CAGR of 14.0% during the forecast period. Rapid adoption of technologically advanced manufacturing equipment in various industries is driving the sales of 3D printers globally, which is expected to drive the market in the coming years.
|Data points||Market overview|
|Market value of 3D printing materials 2021||US$1.3 billion|
|Market value of 3D printing materials 2031||US$5.1 billion|
|CAGR Based on Value of 3D Printing Materials Market 2021-2031||14%|
|3D Printing Materials Market YoY Growth (2021)||11.6%|
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Raw materials such as plastics, ABS, PLA, metals and powders, carbon fibers, resins are commonly used 3D printing materials. The growing trend of using 3D printers to manufacture various types of small and large products is driving the market.
In addition to this, the growing adoption of 3D printing in the building and construction industry is expected to augment the market growth. In addition, the expansion of automotive, aerospace, electronics and medical is expected to remain the main growth driver for the global 3D printing materials market.
According to the IMF, North America is expected to remain a lucrative pocket in the global 3D printing materials market. The growth is attributable to the rapid commercialization of new technologies like 3D printing in various industries in the region.
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|Historical data available for||2016-2020|
|Market analysis||Billions of US dollars for value and tonnes for volume|
|Key regions covered||North America, Latin America, Europe, East Asia, South Asia & Pacific and Middle East & Africa|
|Main countries covered||United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC countries, Turkey, North Africa and South Africa South.|
|Key Segments Covered||Material type, shape, application and region|
|Profiled Key Companies|| • Covestro AG
• Arkema SA
• Sandvik AB
• Evonik Industries AG
• Electro-optical systems EOS GmbH
• Ultimaker B.V.
• Hoganas AB
• The EXONE company
• General Electricity
• 3D Systems Society
• Materialize NV
• STRATASYS LTD
• MARKFORGED Inc.
|Report cover||Market forecasts, company share analysis, competitive intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives|
Key points to remember:
- By material type, sales in the metals segment are expected to grow at a CAGR of 14.9% over the assessment period.
- Based on shape, the demand for powder 3D printing materials is expected to grow at a CAGR of 13.5% through 2031.
- In terms of applications, sales in the automotive sector are expected to gain momentum at a CAGR of 13.6% during the forecast period.
- The United States will become a lucrative pocket in the North American 3D printing materials market.
- Sales in the Chinese 3D printing materials market are expected to grow at a CAGR of 15.2% through 2031.
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Key players of the global 3D printing materials market elaborated in the report include Covestro AG, Arkema SA, Sandvik AB, Evonik Industries AG, EOS GmbH Electro Optical Systems, Ultimaker BV, Hoganas AB, The EXONE Company, General Electrics, 3D Systems Corporation, Materialize NV, STRATASYS LTD and MARKFORGED Inc.
The major market players are focusing on developing innovative 3D printing products to enhance their product portfolios. In addition to this, players are also investing in mergers, acquisitions, and collaborations to expand their global presence.
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