3D printing materials: Key market research findings
- The Americas to dominate the market geographically
- Electronics and consumer appliances to be the key revenue generating segment
- Key vendors – Arcam, EOS, Hoganas, Solvay, and Sandvik
Technavio’s market research analysts predict the global market for 3D printing materials to surpass $6 billion by 2020. The demand for 3D printing materials stems from the wide range of applications of 3D metal printing. It is widely adopted for prototyping processes because it can produce complex shapes with shorter lead time. Some of the high valued and most advanced products from 3D printing are aircraft engines and turbine components. During 2015, the global 3D printing materials market was dominated by the Americas with a market share of around 31%. The presence of many discrete manufacturing companies using 3D printing services in the region will fuel further growth of the 3D printing materials market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the 3D printing material segments based on the end-user.
“The demand for aircraft engines from OMEs is currently witnessing an upsurge. Aircraft engine production and development is one of the largest market opportunity for the 3D printing industry, especially for metals. Advancements in CAD and additive technology is leading to an increase in the use of metal 3D printed parts for functional use in engines. 3D printing helps in reducing the weight of the engine and also provides complex design capability for new objects,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
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By 2020, the electronics and consumer products segment will continue its market dominance by accounting for almost 23%. The growth of this segment can be accredited to the increasing application of 3D printing in the electronics industry for the production of components such as mobile antennas and micro batteries. Furthermore, the growing adoption of 3D printers by hobbyists and other customers to manufacture home-made designer toys, jewelry, and clothing is also contributing to the growth of the 3D printing materials market for electronics and consumer products.
The key vendors in the market include Arcam, EOS, Hoganas, Solvay, and Sandvik. Key vendors in the market are offering plastics, steel, nickel, cobalt-chrome, titanium, and aluminum 3D printing materials. There is also increasing focus on increasing their portfolio to cater to the growing demand and survive in the competitive market.
A more detailed analysis is available in the Technavio report, Global 3D Printing Materials Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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