Advanced Materials For 3d Printing Market to Expand with Significant CAGR During 2018 - 2026
Global Advanced Materials for 3D Printing Market: Overview
Three-dimensional (3D) printing, also called additive manufacturing, is the process of making a 3D solid component from a digital model by depositing successive layers of material in different shapes. Across different industries, chemical and material companies are increasingly developing advanced materials specifically for use in additive manufacturing. Several manufacturers of 3D printing hardware are working in collaboration with chemical companies to make 3D printing hardware adaptable with advanced materials like Titanium alloys, Graphene, Thermoplastic elastomer (TPE), FDM nylon, FDM Nylon 12CF, FDM TPU 92A, and Ninjaflex & Thermoplastic Urethane (TPU) Filaments.
Global Advanced Materials for 3D Printing Market: Key Segments
Based on type of material used for 3D printing, the global advanced materials for 3D printing market can be segmented into metals, plastics, and ceramics. In terms of form, the global advanced materials for 3D printing market has been divided into filament, powder, and liquid. Titanium and its alloys are mostly used in aerospace engineering applications and in the manufacture of engine components, as they have high strength and they are lightweight. They provide superior resistance to corrosion. Due to bio-compatibility offered by titanium, it is also employed in biomedical applications such as orthopedic and dental implants as well as in knee and hip replacement surgeries. Based on application, the global advanced materials for 3D printing market can be classified into aerospace & defense, medical & dental, automotive, consumer goods, and others. Automotive manufacturers require lightweight and functionally integrated parts, especially for sports cars. Furthermore, several automotive companies recognize that 3D printing is a solution for effective production of complex parts that need to be customized.
Global Advanced Materials for 3D Printing Market: Trends & Developments
Rising demand from aerospace and automotive industries for producing complex 3D printed parts, mass customization, and financial aid from governments are major factors driving the advanced materials for 3D printing market. High costs associated with 3D printing materials is a restraining factor for the global advanced materials for 3D printing market. Challenges currently faced by the advanced materials for 3D printing market include finding the most optimal way to align and integrate fibers into the thermoplastic matrix and developing more robust 3D printers and extrusion mechanisms to process hardy materials. Decrease in the production cost of advanced printing materials by researchers and scientists may facilitate mass adoption of the 3D printing technology in various sectors, such as automotive, aerospace, and fashion & art, in the near future.
Global Advanced Materials for 3D Printing Market: Regional Outlook
Based on region, the global advanced materials for 3D printing market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global market has witnessed strong growth over the last few years, owing to rise in the adoption of 3D printing technology in developed countries such as the U.S. and Germany and developing countries such as India, Brazil, South Korea, and China. Companies based in China and South Korea are highly proactive in making use of the technology for end-use production. As per an estimate, one in every two major manufacturers would be using additive manufacturing to make complex products by 2021. Owing to the rising labour cost, many manufacturing firms are exploring new ways of production like 3D printing technologies. Governments of both China and South Korea are supportive to development of the 3D printing technology. They have positioned themselves as leaders in the field of 3D printing. Manufacturers based in the U.S. are slow adopters, with only 17% having gained experience in 3D printing.
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Global Advanced Materials for 3D Printing Market: Key Players
Key players operating in the global advanced materials for 3D printing market are Hoganas AB, Arkema S.A., 3D Systems Corporation, Stratasys Ltd., Arcam AB, Eos GmbH, Royal DSM N.V., Materialise NV, and Renishaw PLC.
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