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Global 3D Printing Materials Market to Grow at 25.39% CAGR 2016-2020 due to Rising Use of Metal 3D Printing in Industrial Applications

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Published on : Aug 23, 2016

ALBANY, New York, August 23, 2016: ResearchMoz.us has added a new report on the global 3D printing materials market to its database of research reports. The report briefs readers about the many drivers, restraints, opportunities, and challenges in the market. As per the findings of the report, the global 3D printing materials market is primarily driven by the rising use of 3D printing leads in industrial applications, the rising demand for 3D printing by direct parts, and the rising support from governments of many nations.  

The report, titled ‘Global 3D Printing Materials Market 2016-2020,’ states that the market is challenged by factors such as the high cost of production of 3D printing materials and strict approval process. Irrespective of the challenges, the global market for 3D printing materials is expected to exhibit a 25.39% CAGR during the period between 2016 and 2020. Market trends such as the rise in the demand for aircraft engines from OEMs, the introduction of 3D bioprinting technology, and the rise in the penetration rate are predicted to contribute towards the growth of the global 3D printing materials market. 

For a detailed understanding, the global market for 3D printing materials is segmented on the basis of type, printing, method, end use, and region. By end use, the global market for 3D printing materials is classified into electronics and consumer durables, healthcare, academic institutions, automobiles, aerospace and defense, and others. The demand for 3D printing materials is consistently increasing from aerospace companies owing to the rising manufacture of various types of aircraft and aircraft engines. Thus, the aerospace and defense end-use segment is expected to be one of the dominant segments in the global market for 3D printing materials. 

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Currently, the easy availability of advanced technology is making it possible for organizations to introduce plenty of 3D printing materials in the global market. Auto manufacturers are using 3D printing materials to manufacture rare spare parts for upcoming vehicles. Airplane manufacturers are using 3D printing materials to get their parts designed in 3D. In the past few years, 3D printing technology has heavily benefited the healthcare industry in many ways. New 3D printing materials will help manufacturers in introducing innovative products, predict the analysts. 

By region, the global 3D printing materials market is divided into Asia Pacific, the Americas, and EMEA. Key companies are maintaining their dominance in the global market by using new technologies for manufacturing new 3D printing materials. Arcam, EOS, Hoganas, Solvay, Sandvik, Concept Laser, ExOne, and Renishaw are some of the key organizations operating in the global 3D printing materials market. Considering the growing demand, most of the manufacturers are concentrating on increasing their production of metal 3D printing materials. The introduction of new 3D printing materials is likely to create new hope for companies operating in the competitive market.

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