Global 3D printing materials Market including definitions, classifications, applications and industr
The 3D Printing Materials Market is forecast to grow in double digits from 2014 to 2020 with a highest CAGR of 29.6% during the forecast period. 3D printing materials can be broadly classified into Plastics, Metals, Ceramics and Others. These materials are used in 3D printers to print three-dimensional objects which can be used in various applications like consumer, aerospace and defense, automobiles, medical and so on. The materials used in these printers are expanding rapidly and many new materials like PET, Nylon and so on are entering in the market on regular basis. This 3D printing technology will dominate other technologies in the future as it is virtually possible to print any object given if you have a digital design of the required product.
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Among 3D printing materials, plastics can be further sub segmented into Poly lactic acid (PLA), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Alcohol (PVA) and others. Metals can be sub segmented into titanium, stainless steel, silver and others and ceramics into silica, glass, porcelain and others. Apart from these, there are other materials such as chocolate, paper, biomaterials and so on which are under their initial phase in 3D printing and will revolutionize the industry in the future. Recent report published by IndustryARC analyses / elaborates all these types of materials and their respective applications in various industries like consumer, automobile, aerospace & defense, medical, and so on.
Medical industry is expected to revolutionize in the future because of biomaterials which were introduced to 3D printing recently. While plastics are used to 3D print prosthetic parts and metals like titanium are used to replace hard parts of the body like skull, biomaterials will be able to print organs for the body which is a very big achievement to 3D printing industry. Recently they were able to print many organs like heart, liver and so on by using this technology and are currently using them for research purposes before starting the medical trials.
Although a lot of patents related to 3D printing industry have already expired, still there are some patents that protect fundamental methods and research. These key patents have expired in 2014, thus giving rise to high demand, lower prices and a larger scope for technology betterment.
Geographically the U.S. contributes to the majority of the materials market share and consumer materials like plastics are expected to develop more in this region in the near future as we notice the trend of increasing consumer 3D printers year by year. Germany is the major industrial hub and its materials revenue is mainly because of metal powders. Countries in APAC like China, India and Japan have relatively smaller market but are expected to grow at the highest CAGR compared to America and Europe.
In short, 3D printing materials market is growing more rapidly than the 3D printers market as it is not a one-time investment like 3D printers, as the printers needs to be refilled regularly and its demand increases based on the number of 3D printers in the market.
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