Future Analysis for 3D printing materials market Forecast by 2019 – 2024

3D Printing Materials and Equipment Market size will exceed USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc. Strong applications scope across both the defense and aerospace industries will drive 3D printing materials market share over the forecast timeframe. The products have extensive use in electronics, defense, medical & pharmaceutical sectors and automobile production. The technology also has several advantages like high-speed precision, smooth surface finish and design freedom.

The medical & pharmaceutical sector has been considered as one of the prime end-users of the 3D printing materials & equipment from the past few years. The main application of the product is the generation of several organs including human tissue fabrication and heart & liver within the industry. The product is also used to manufacture dental crowns that are used in dental treatments.

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A considerable rise in the per capita income has resulted in high consumer spending over consumer goods which has led to the rise in the demand for electronic gadgets and appliances across the globe. Electronics & consumer goods segment accounted for nearly 20% of total 3D printing materials industry revenue share in 2016, becoming one of the largest end-users.

Europe and North America will hold a major share of the industry due to the escalating demand of the product across several end-user industries. There is a strong consumer base for modified and designer vehicles that need 3D printing materials & equipment to support the steadily evolving automobile sector in the region. Metal 3D printing materials industry size will witness a growth of over 17% 2016-2024. 

The education sector has been a key contributor towards global 3D printing materials and equipment industry trends. With a rise in the market for professional 3D printers and desktops in offices, the demand for the product has accelerated considerably. Constant technological advancements and the surging demand across various applications will bolster 3D printing materials market outlook.

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3D printing materials market share from the ceramic segment accounted for around 20% of the total industry share in 2016. The product segment will gather major traction owing to extensive deployment across printing of cups, saucer, statues and plates. Rapid increase in the automobile industry will drive the 3D printing material consumption.

Manufacturing of automobile had reached more than 90 million units in the year 2016 and is expected to reach 125 million units by 2024. Additionally, the automotive sector is slated to secure a notable CAGR of 16% over the projected time period, influencing 3D printing materials industry forecast.

North America 3D printing materials market size had reached over USD 200 million in 2016, which amounted to approximately 35% of the revenue share. The governments have invested massive capitals to bolster the defense sector in the region which has led to the growth of aerospace and defense industry.

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3D printing materials industry share was amalgamated with major industry players contributing nearly 50% of the industry’s revenue share in 2016. Companies like Optomec, Royal DSM, Voxeljet, Concept Laser, Envisiontec and ExOne are constantly involved in expanding production capacities and distribution of products to bolster the product portfolio.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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