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Date: 2023-01-13 11:48:34
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3D printing materials Market size is expected to be worth around USD 17,775.07 Mn by 2032 from USD 1,624.16 Mn in 2021, growing at a CAGR of 24.30%.
NEW YORK CITY, NEW YORK, UNITED STATES, January 13, 2023 /EINPresswire.com/ -- The 3D Printing Materials market is taking off in a big way. The technology is finding a wide range of applications in numerous industries, from automotive and aerospace to medical devices and consumer products. As such, the demand for 3D printing materials has increased significantly over the past few years, with new types of materials hitting the market regularly.
This trend is only expected to grow further in the near future as more companies adopt 3D printing technologies into their manufacturing processes. Key players like Arkema S.A. and EOS are leading the charge when it comes to introducing advanced 3D printing materials that can open up new fields for product development. Trends such as the increasing use of bioplastics, the growing use of metal alloys for additive manufacturing, and rising research activities related to high-temperature filaments will continue to drive innovation within this space.
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Increased Demand from End-Users for 3D Printers to Drive Market Growth
There is a growing demand from various end-users for 3D printing materials. Due to the increasing use of 3D-printed parts in aerospace, automotive, and military applications, the market is expected to grow. For manufacturing intricate parts, 3D printing technology has proven to be very useful. 3D printing allows designers to create complicated parts at a low cost and with high production capabilities.
Market Obstructed by High Production Costs of 3D Printing Materials
Materials can be used for 3D printing in non-standard forms, such as liquid, powder, or filament. Material costs increase when materials are converted from standard forms to those suitable for 3D printing. The prices of 3D-printed materials can be up to 10-15% higher than those used in traditional manufacturing processes. This is one of the main factors that are limiting the market's growth.
Кеу Маrkеt Ѕеgmеntѕ:
Aerospace & Defense Industry
Consumer Products & Industrial Sectors
Кеу Market Рlауеrѕ:
3D Systems Corporation
Royal DSM N.V.
Evonik Industries AG.
Other Key Major players
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3D Systems released two new 3D printer materials, PRO-BLK 10, and HI-Temp300-AMB. These new products will allow clients to use more of 3D Systems' product lines and expand their application options.
November 2019, BASF buys Sculpteo. This is the purchase of the second-largest chemical producer in the world, and a German corporation. BASF hopes to improve its position in 3D printing markets and broaden its sales channel with the new breakthrough.
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Original Source: http://www.einnews.com/pr_news/611120381/3d-printing-materials-market-size-share-forecast-report-analysis-2021-to-2032