3D Printing Materials Market worth $8.7 billion by 2027

According to recent market research "3D Printing Materials Market by Type (Plastic, Metal, Ceramic), End-Use Industry (Automotive, Aerospace & Defence, Healthcare, Consumer Goods, Construction), Form (Powder, Liquid, Filament), Technology, Application, and Region - Global Forecast to 2027", is expected to reach USD 8.7 billion by 2027, at a CAGR of 25% between 2019 and 2027.

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The 3D printing materials market size is estimated to grow from USD 1.5 billion in 2019 to USD 8.7 billion by 2027, at a CAGR of 25% during the forecast period. The 3D printing materials market is witnessing significant growth because of the growing demand from industries such as healthcare, automotive, and aerospace & defense.

The aerospace & defense end-use industry is estimated to account for the largest share of the 3D printing materials market in 2019

Aerospace & defense is the major end-use industry in the 3D printing materials market. North America and Europe are the key markets due to the presence of the aerospace & defense industry. The automotive industry is expected to grow at the fastest rate due to the increasing adoption of 3D printing in the manufacturing of automotive components.

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Prototyping is the largest application of 3D printing materials.

Prototyping is the key application in the 3D printing materials market. The 3D printing materials market in the manufacturing application is projected to register the highest growth rate during the forecast period. This high growth of manufacturing application is attributed to the growing adoption of 3D printing in the aerospace & defense, automotive, and healthcare industries.

North America is expected to be the largest market for 3D printing materials during the forecast period.

North America is expected to dominate the 3D printing materials market during the forecast period due to the substantial adoption and manufacturing of products based on 3D printing technology. Growing emphasis on the development of new 3D printing materials, such as composites is increasing the application range of the 3D printing materials, and driving the demand in automotive, healthcare, and aerospace & defense industries. In addition, strong support from the governments for 3D printed goods over conventional goods and the presence of key manufacturers in the region are expected to drive the market further.

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The major 3D printing material manufacturers are 3D Systems (US), Stratasys (US), Arkema SA (France), Materialise NV (Belgium), Evonik Industries (Germany), and General Electric (US). These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. New product launch and joint venture & partnership were the dominant strategies adopted by the major players, between 2014 and 2019, which helped them to offer innovative products and broaden their customer base.

Stratasys Ltd. has a prominent presence in the 3D printing materials market. The company has a strong brand image, and it caters to the growing demand for 3D printing materials, in major applications. It opted inorganic and organic growth strategies through launching new PEKK-based high-performance thermoplastic material, namely, Antero 800NA and through collaboration with Team Penkse (US). The company mainly focuses on R&D activities to maintain its comprehensive portfolio of 3D printing products that have significant growth potential.

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