Increasing Demand for 3D Printing Materials Industry in Automotive and Defense Industries to Boost the Market Growth

 By 2033, the market for 3D printing materials is expected to be valued around US$ 6.6 billion, up from US$ 1.8 billion in 2023, and to grow at a compound annual growth rate of 14.2%.

To manufacture scaled models for testing, 3D printing materials are frequently used in the automotive industry. Bellows, front bumpers, air conditioner ducting, suspension wishbones, dashboard interfaces, brackets for installing alternators, battery covers, and other parts are also made of them. Automotive OEM producers use 3D printing materials for rapid prototyping.

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The Aerospace and Automotive Industries are on the rise

The rise of the vehicle sector in North America's and Europe's growing economies would most likely encourage global market expansion. Furthermore, favourable government initiatives are expected to propel the market throughout the forecast period.

Furthermore, the global market for 3D printing materials will profit considerably from advancements in 3D printing technology and materials. Because of the increased use of technology in the healthcare business, the market for 3D printing materials is expanding.

3D printing can be used to create tissues, prosthetics, and implants. 3D printers are becoming increasingly popular due of their high speed and precision. Increased investment in 3D printing technology is expected to provide lucrative development opportunities for sector suppliers.

Reduced waste, more complex designs, economic effectiveness, and greater customization are just a few of the advantages of 3D printing. This has prompted companies from a variety of industries to use the technology for part manufacturing.

Because incompatibility may cause a patient to respond to a foreign body, market producers are focused on developing safe and compatible materials. This may cause inflammation, a delay in wound healing, and a few other immunological reactions. Dentistry is one discipline that employs cutting-edge technology.

As a result, the increased demand for dental implants is expected to boost the expansion of the market for 3D printing materials.

Key Takeaways from the 3D Printing Materials Market

•         The automotive sector is expanding.
•         The market for 3D printing materials is estimated to develop at a 14.2% CAGR from 2023 to 2033.
•         The market is predicted to grow due to increased demand for 3D printing and enhanced materials in a range of industries, including automotive, aerospace, and military.
•         Asia Pacific dominated the market for 3D printing materials.

Key Development in the 3D Printing Materials Market

•         September 2019 - 3D Systems debuted two new 3D printing materials, the HI-Temp 300-AMB and the PRO-BLK 10. The extra goods will expand customer application alternatives and broaden the company's product line.
•         November 2019 - BASF, the world's second-largest chemical producer and a German firm, acquires Sculpteo. BASF intends to increase its position in the 3D printing sector and expand its sales channel with this innovation.
•         March 2020 - Winsun, a Shanghai-based startup, provided 15 quarantine wards to a hospital in Hubei province for COVID-19 patients using 3D printing technology. Each ward is 10 square metres in size and was built for roughly CNY 28,000.
•         October 2020 - Royal DSM announced the release of Somos WaterShed Black, a new Stereolithography 3D printing resin. The new 3D printing resin is based on Somos WaterShed XC 11122 technologies, which processes up to 50% faster than conventional black photopolymers.
•         October 2020 - Covestro bought DSM's Resins & Functional Materials (RFM) business, which includes additive manufacturing technology.

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Competitive Landscape

Some of the key players in the 3D printing materials market are as follows

• Covestro AG
• Arkema S.A.
• Sandvik A.B.
• Evonik Industries A.G.
• EOS GmbH Electro Optical Systems
• Ultimaker B.V.
• Hoganas AB
• The EXONE Company
• General Electrics
• 3D Systems Corporation
• Materialise NV
• STRATASYS LTD
• MARKFORGED Inc.

3D printing materials Market Key Segment

By Material Type:

• Plastics
• Acrylonitrile Butadiene Styrene Nylon
• Polylactic Acid (PLA)
• High Impact Polystyrene (HIPS)
• Polyvinyl Alcohol (PVA)
• Polyethylene Terephthalate (PET)
• Others
• Metals
• Steel
• Aluminum
• Nickel & Alloys
• Cobalt & Alloys
• Others
• Ceramics
• Others

By Form:

• Filament
• Powder
• Liquid

By Application:

• Electronics & Consumers
• Automotive
• Medical
• Industrial
• Education
• Aerospace
• Others