Albany, NY, April 27, 2016 (GLOBE NEWSWIRE) -- The global 3D printing materials market has been witnessing a substantial rise over the past few years. The rapid rise in the demand for 3D printing, propelled by the shifting interest of consumers toward products with attractive packaging, has boosted the 3D printing materials market significantly in the recent times.
A research report published by Transparency Market Research (TMR) states that in 2013, the worldwide market for 3D printing materials stood at US$450 mn. Experts project this market to rise at a CAGR of 18.0% during the period from 2014 to 2020 and attain a value of US$1.4 bn by the end of 2020.
Raw materials used in the production of 3D printing products are termed as 3D printing materials. 3D printing materials are broadly classified into ceramics, plastics, metals and others. These materials play a vital role in 3D printing technology and are used to convert digital files into tangible 3D printing objects. Based on materials used in printing, fused material technology and reactive material technology are the two technology types used for 3D printing. Various materials used in 3D printing include polyamide, alumide, titanium, silver, gold, paintable resin, bronze, brass and stainless steel.
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Asia Pacific 3D Printing Materials Market to Exhibit Fastest Growth in Coming Years
In 2013, North America emerged as the largest regional market for 3D printing materials across the world with a share of more than 37% in the overall demand reported for these materials. However, in the coming years, Asia Pacific is likely to experience the fastest growth among all the regional markets for 3D printing materials on account of the rising uptake of 3D printing technology in various Asian economies such as China and Japan.
In terms of volume, plastics accounted for approximately 48% of the global 3D printing materials market in 2013. The segment is expected to witness the highest growth in the next few years. ABS, PLA, PMMA, polycarbonate and PVC are a few types of polymers used for 3D printing. Demand for plastics is high in the 3D printing market as it offers excellent durability and flexibility. Additional advantages of plastics are that plastics are available in a wide range of colors. Thus, plastics are more popular as 3D printing materials. Ceramics include clay, plaster and silica. Titanium, aluminum, nickel, steel and copper are the major metals that are used in 3D printing.
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Plastics Enjoy Highest Demand in Global 3D Printing Materials Market
Metals, ceramics, plastics, lay wood and wax are the main materials used for 3D printing in the global arena. In 2013, the demand for plastics was the highest among these materials. The segment occupied a share of 48% in the overall demand reported for 3D printing materials that year.
The increasing demand for plastics for the 3D printing of electronics and other products is likely to maintain this trend in the near future. The flexibility and the durability, plastics provide, are the key factors behind its soaring demand in 3D printing.
The industrial, aerospace, education, architecture, automotive, electronics and consumer goods, pharmaceuticals, and military sectors are the prime application areas for 3D printing materials market. Here is a snapshot of the demand scenario for 3D printing materials in various segments.
- The electronics and consumer goods segment exhibited the highest demand for 3D printing materials in 2013 with a share of 23% while the automotive segment occupied the second position.
- During the period from 2014 to 2020, the demand for 3D printing materials in the electronics and consumer goods segment is likely to rise at a CAGR of 17.0%.
- Other application segments are also projected to report a significant demand for 3D printing materials over the next few years.
Some of the major producers of 3D printing materials in the global market are Voxeljet AG, SLM Solutions GmbH, Stratasys Ltd., Optomec, ExOne GmbH, Solidscape Inc., EOS - Electro Optical Systems, Arcam AB, Concept Laser GmbH, and 3D Systems Inc.
Key segments of the Global 3D Printing Materials Market
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
Browse Research Blog:http://www.tmrblog.com/2015/11/3d-printing-materials-market.html
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Source:Transparency Market Research