Advanced Materials for 3D Printing: Driving Innovation and Market Growth at a CAGR of 18.1% (2024-2029)
Saturday, December 14, 2024
Rapid Expansion in 3D Printing Materials Market Fueled by Aerospace, Automotive, Medical Sectors, and Sustainable Innovations
BOSTON, Dec. 10, 2024 /PRNewswire/ -- According to the latest study from BCC Research, "the global markets for Advanced Materials for 3D Printing" is estimated to reach $8.6 billion by the end of 2029, at a compound annual growth rate (CAGR) of 18.1% from 2024 through 2029.
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The report presents an analysis of the global market for advanced materials used in 3D printing. Using 2023 as the base year, the study provides revenue forecasts from 2024 to 2029 (in USD millions). It segments the market by material, technology, end-user industry, and region. Materials include plastics and polymers, and metals. Technologies encompass vat polymerization, powder bed fusion and material extrusion. End-user industries include transportation, medical and dental, consumer products and electronics, and industrial machinery. The regional markets covered are Asia-Pacific, Europe, North America, and the Rest of the World (RoW), with each region further broken down into individual countries.
This report is relevant as end-user companies increasingly prioritize reducing their carbon footprint and enhancing sustainability. 3D printing offers significant downstream sustainability benefits, such as lowering fuel consumption in the aerospace and automotive sectors by optimizing component designs and reducing overall weight. Additionally, it simplifies supply chains by enabling localized production, which reduces emissions associated with the global transportation of physical goods. The market is also drawing attention companies such as Asahi Kasei Plastics North America, which recently entered the 3D printing materials segment. M&A activity is exemplified by Stratasys' acquisition of Covestro AG's 3D printing materials business.
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The following factors are driving the global market for advanced materials for 3D printing:
Increased Adoption of 3D Printing: 3D printing is being embraced by many industries, including healthcare, aerospace, automotive and consumer goods. This trend is driving up the demand for specialized materials that suit these applications. The technology's ability to produce complex shapes, minimize material waste, and support on-demand manufacturing is making it a key piece in modern production processes.
Innovations in Materials: Companies and researchers are developing new materials with enhanced characteristics, like greater strength, improved heat resistance, and better biocompatibility. These innovations are broadening the possibilities of what can be created with 3D printing.
Demand for 3D Printed Lightweight Components: The aerospace and automotive industries are pushing for lightweight components because they can improve fuel efficiency and overall performance. This has led to the development of advanced 3D printing materials, such as high-strength polymers and metal alloys, which enable the production of lighter yet durable parts that can replace traditional components.
Prototyping: Prototyping remains a core application of 3D printing. The technology allows companies to rapidly produce prototypes, speeding up product development cycles and enabling quick design iterations. This capability drives the need for advanced materials that closely replicate the final production properties, ensuring that prototypes accurately reflect the end product's characteristics.
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Report Synopsis
Report Metric
Details
Base year considered 2023
Forecast period considered
2024-2029
Base year market size
$3.3 billion
Market size forecast
$8.6 billion
Growth rate
CAGR of 18.1% for the forecast period of 2024-2029
Segments covered
Material, Technology Type, End-User
Regions covered
North America, Europe, Asia-Pacific, Rest of the World
Countries covered U.S., Canada, Mexico, U.K., Germany, Italy, France, Russia, Norway, Spain, Netherlands, Poland, Slovakia,
Switzerland, Japan, China, South Korea, India, Singapore, Thailand, Malaysia, Vietnam, Taiwan
Market drivers
Increased adoption of 3D printing
Innovations in materials
Demand for 3D printed lightweight components
Prototyping
Interesting facts about advanced materials for 3D printing:
-- Future Material Compatibility: Materials traditionally used in injection
molding and other manufacturing techniques are becoming more compatible
with 3D printing, and vice versa, enabling greater versatility across
production methods.
-- 3D Printable Concrete in Construction: The rapid adoption of 3D
printable concrete is revolutionizing the construction industry,
allowing for innovative designs, reduced costs, and faster project
completion.
The report addresses the following questions:
1. What is the projected market size?
-- The market for advanced materials for 3D printing is projected to $8.6
billion by the end of 2029, with a CAGR of 18.1%.
2. Which factors are driving the growth of the market?
-- Rapid adoption of 3D printing
-- Innovative materials
-- Demand for 3D-printed lightweight components
-- Prototyping
3. Which segments are covered in the report?
-- Material, technology, end-user, and region.
4. Which end-use industry will dominate the market by the end of 2029?
-- The transportation segment will continue to lead the market through
2029.
5. Which region has the largest market share?
-- North America accounts for the largest market share due to the high
adoption rate for advanced 3D printing technologies and increasing use
in high-performance applications.
Leading Companies Include:
-- ARKEMA
-- DESKTOP METAL INC.
-- EOS GMBH
-- EVONIK INDUSTRIES AG
-- ELEMENTUM
-- FORMLABS
-- HENKEL AG & CO. KGAA
-- IGUS
-- LITHOZ
-- MATERIALISE
-- MARKFORGED HOLDING CORP.
-- PROTO LABS
-- SABIC
-- STRATASYS
-- XENIA SRL
Related Reports
Global Markets for 3D Printing: This report includes revenue assessments ($ millions) across the regions of North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, Rest of Asia-Pacific), and the Rest of the World (South America, Middle East, Africa). The report highlights emerging technologies shaping the market landscape and offers insights into the strategies of the leading vendors.
3D Printing Medical Devices: Global Markets: This report segments the market by product type, technology, sales channel, and application. The report covers the regions of North America (U.S., Canada, Mexico), Europe (U.K., Germany, France, Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, Rest of Asia-Pacific), and the Rest of the World (South America, Middle East, Africa). It highlights emerging technologies, analyzes the vendor landscape, and profiles major market players. The report covers dental implants in the dental application segment, separate from the implants and prosthetics category.
Purchase a copy of the report directly from BCC Research.
For further information or to purchase a report, please contact info@bccresearch.com.
About BCC Research
BCC Research reports provide objective, unbiased measurement, and assessment of market opportunities. Our experienced industry analysts' goal is to help readers make informed business decisions, free of noise and hype.
Contact Us
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Boston, MA 02109
U.S.
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.
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SOURCE BCC Research LLC
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