3D Printing Materials Market to Boost at a CAGR of 21% and Exhibit USD 6.67 billion by 2028

As per the report published by Fior Markets, the global 3D Printing Materials market is expected to grow from USD 1.45 billion in 2020 and to reach USD 6.67 billion by 2028, growing at a CAGR of 21% during the forecast period 2021-2028

The 3D Printing Materials market is witnessing significant growth form the past years. This growth is attributed to the adoption of 3D printing technology in the aerospace industry has expanded owing to its benefits, consisting of the fabrication of elements with complicated geometries, decreased weight, much less scrap, and on-site component fabrication. The introduction of various advanced products like automotive components, mobile cases, wing mirrors, toys, and various other products in the market will propel the 3D Printing Materials market.

3-D printing is a technologically advanced additive production procedure where a 3-D printer receives a command from a software program program and creates a third-dimensional product. The 3-D printer is utilized in numerous industries, inclusive of aerospace, production enterprise, clinical enterprise, and others. The printing substances exist in 3 forms, i.e., filament, powder, and liquid and printing techniques inclusive of fused deposition modeling, Stereolithography, selective laser sintering, Poly jet/inkjet 3-D printing, binder jetting, etc. are implemented to model various items of the material. The published items are utilized in various stop consumer industries for manufacturing, producing full-color concept models, architectural models, and visible arts projects. Laminated item manufacturing and Electron beam melting are also the strategies used to process 3-D printing substances.

The global 3D Printing Materials market is expected to witness significant growth, owing to Proliferating aviation industry coupled with growing demand for fuel-efficient aircraft, growing need for low quantity manufacturing from the aerospace industry, and propelling area exploration and protection industry. The factors restraining the market growth are high material costs and stringent certification requirements. Growing demand from the educational sector will provide market growth opportunities.

Key players operating in the global 3D Printing Materials market include 3D System (U.S.), Arkema S.A. (France), Royal DSM (Netherlands), ExOne Company (U.S.), Stratasys Ltd. (U.S.), General Electric (U.S.), EOS GmbH Electro Optical Systems (Germany), Materialise NV (Belgium), Sandvik AB (Sweden), and Höganäs AB (Sweden). To gain a significant market share in the global 3D Printing Materials market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• For instance, in May 2019, Stratasys partnered with Solvay to expand its variety of high-performance substances available for FDM technology.
• In November 2018, Royal DSM N.V. launched high-performing materials, Arnitel ID2060 HT and Somos PerFORM Reflect for additive manufacturing.

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The civil Aviation segment dominated the market and held the largest market share of 38.9% in the year 2020

On the basis of Industry, the global 3D Printing Materials market is segmented into Civil Aviation, Military, and Spacecraft. Civil Aviation dominated the market and held the largest market share of 40.9% in the year 2020. This growth is attributed to the growth engine of the 3D printing technology to produce engine components.

The materials segment dominated the market and held the largest market share of 56.17% in the year 2020

On the basis of Vertical, the global 3D Printing Materials market is segmented into printers and materials. The materials segment dominated the market and held the largest market share of 56.17% in the year 2020. This growth is attributed to the growing demand for materials possessing a high strength-to-weight ratio for 3D printing technology.

Engine components segment dominated the market and held the largest market share of 35.97% in the year 2020

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On the basis of Application, the global 3D Printing Materials market is segmented into engine components, space components, and structural components. Engine components segment dominated the market and held the largest market share of 35.97% in the year 2020. This growth is attributed to their new 3-D printing capacity used to make the new engines are faster to operate and less high-priced than preceding conventional manufacturing processes.

The direct metal laser segment dominated the market and held the largest market share of 23.13% in the year 2020

On the basis of Technology, the global 3D Printing Materials market is segmented into Direct metal laser sintering, fused deposition modeling, Continuous liquid interface production, Stereolithography, and Selective laser sintering. The direct metal laser segment dominated the market and held the largest market share of 23.13% in the year 2020. This growth is attributed to the properties such as light-weighted, corrosion-resistant, and good welding characteristics.