Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to analysts at TMR, the global 3D printing materials market is expanding at a CAGR of 18.0% from 2014 to 2020 and expected to reach a market value of US$1.4 bn by 2020 from a value of US$450 mn in 2013. The global demand for 3D printing materials totaled 2,000 kilo tons in 2013. Increasing demand for 3D printing technology, wide adoption of this technology across the education and government sectors, and regulatory support from the government is further expected to boost the 3D printing materials market in the coming years. Worldwide, manufacturers are incessantly focusing on the development of new 3D printing materials, which would offer a high-quality surface finish and high-strength 3D models. This is expected to provide new opportunities for the 3D printing materials market. By product segment analysis, the 3D printing materials market is divided into plastics, ceramics, metals, and others (including laywood and wax). Among these products, plastics were the largest product segment of the market. In 2013, the plastics segment took up a 48% share in the 3D printing materials market in terms of volume. Plastics are expected to be the fastest growing product segment due to the rising demand from electronics and other consumer products and printing.
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Additionally, the report also discusses various applications that utilize 3D printing technology across the globe. Based on the application analysis, 3D printing materials are broadly implemented in applications such as industrial, education, aerospace, automotive, medical, electronics and consumer products, and others (including architecture and military). Of all the application sectors, the consumer products and electronics segment took up a 23% share in the market in 2013, followed by the automotive segment. The consumer products and electronics sector is projected to register a 17% CAGR between 2014 and 2020. The growth trend in all the mentioned application segments is likely to continue during the forecast period.
Moreover, by geography, the report studies North America, Asia Pacific, Europe, and Rest of the World (RoW) as some of the major regional segments of the 3D printing materials market. North America has been the largest market for 3D printing materials since 2013 and the trend is expected to continue until the end of the forecast period. The region is also witnessing high demand for 3D printing technology due to the presence of dominant players and high adoption of new upcoming technologies in this market. In the next few years, Asia Pacific is estimated to be the fastest growing region in the 3D printing materials market. Demand for 3D printing technology is expected to rise in countries such as South Korea, China, and Japan due to the rising adoption and implementation of 3D printing in various industrial applications.
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3D Printing Materials Market - Product Segment Analysis
- Others (Including wax and laywood)
3D Printing Materials Market - Application Analysis
- Electronics & Consumer Products
- Others (Including military and architecture)
3D Printing Materials Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World
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Source:Transparency Market Research