Report

The 3D Printing Materials And Services Market is expected to register a CAGR of 23% during the forecast period.

Key Highlights
- One of the early adopters of 3D Printing Technology is the aircraft industry, where the technology is useful for producing complex parts by providing designers the advantage of creating the best parts with reduced cost and production feasibility. The industry mainly uses titanium metal and alloys as it offers good mechanical properties and high dimensional accuracy during production.
- The growing demand from the educational sector is also driving the growth of the market. With labs being set up at many educational institutions for 3D printing, such as for engineering students to enable them to print prototypes, for biology students to allow them to study cross-sections of organs, and graphic design students to work on 3D versions of their work.
- The push from the healthcare sector is also expected to impact the growth of the market positively. For instance, various medical products, such as surgical equipment, prosthetics & implants, and tissue engineering products, are manufactured through 3D printing technology and in other sector applications such as orthopedic, dental, and craniomaxillofacial, and more.
- The high material cost is the major restraint the market is facing due to high material costs owing to its higher standards of purity and composition required.
- The pandemic has negatively impacted the 3D Printing Materials market with the supply chain disruptions resulting in delays or non-delivery of raw materials, financial flows getting affected, and decrease of the workforce in the production line have resulted in industries such as aerospace & defense, automotive, construction, and others to operate at zero or partial capacities.


3D Printing Materials and Services Market Trends

Increasing Applications in the Automotive Industry


- 3D printing materials are extensively used in the automotive industry to manufacture scaled models for testing. They are also used for components, such as bellows, front bumper, air conditioning ducting, suspension wishbone, dashboard interface, alternator mounting bracket, battery cover, etc. Automotive OEM manufacturers are using 3D printing materials for rapid prototyping.
- Owing to the advantages of the 3D printing process, such as low cost, less manufacturing time, reduced material wastage, etc., automotive manufacturers are moving toward the usage of this process. Some of the largest automotive manufacturers in the world, such as AUDI, Rolls Royce, Porsche, Hackrod, and many others, are using these materials for manufacturing spare parts and metal prototypes.
- The current slowdown in global automotive production has affected the market for polyester staple fiber because of the decreased demand for automotive fibers. Additionally, the current slowdown in automotive sales in countries such as China is further expected to hinder the demand for 3D printing materials.
- The pandemic has severely impacted the automotive sector globally; according to OICA (International Organization of Motor Vehicle Manufacturers), global production of vehicles in the third quarter of 2020 was around 50 million, a significant decrease compared to the production in the third quarter of 2019, which was around 65 million.


China is Expected to Dominate the Market


- China is among the fastest-growing markets in terms of new technologies and the usage of innovative materials for construction purposes. With China's dominating role as a global construction center, the accelerated development in the 3D concrete printing sector is likely to revolutionize the traditional construction industry in the country, with applications ranging from residential buildings to monuments.
- The country is involved in the construction of buildings, offices, and bridges using 3D printing technology. Additionally, Shanghai is the home for the longest 3D-printed bridge, which is 86 feet in length in the world, consisting of 176 concrete units.
- There are a few limitations for 3D printing in the construction sector, such as lack of confidence from building developers and absence of proper regulations for the usage of this technology. ? However, with the increasing awareness regarding new technologies and their advantages, organizations and individuals are increasingly tending toward cost-saving alternatives. This, in turn, is driving the demand in the 3D concrete printing market in the country.?
- China has the world's largest automotive market in terms of production. Although the production in the country declined in the past few years, the electric vehicles segment is expected to grow. In April 2020, the Ministry of Finance of the People's Republic of China issued a notice on ways to promote financial subsidies for new electric vehicles. It stated that new EVs purchased between January 1, 2021, and December 31, 2022 would be exempted from vehicle purchase tax.
- Furthermore, the layer-by-layer deposition process in 3D printing allows sensors, antennas, and other functional electronics to be printed directly onto plastic components, metal surfaces, and even glass panels and ceramic materials.


3D Printing Materials and Services Industry Overview

Companies operating in 3D Printing Materials and Services Market focus on the research and development of its materials for product differentiation and innovation in materials that could be applied for newer applications areas. The key market vendors include 3D Systems, Inc., Arkema Group, CRP Technology S.r.l., EnvisionTEC Inc., EOS GmbH Electro Optical Systems, General Electric Company, Hoganas AB, LPW Technology Ltd, Royal DSM N.V., Sandvik AB, Solvay, Stratasys Ltd, and Ultimaker B.V.


- September 2021 - 3D Systems introduced VisiJet Wax Jewel Red, an addition to the materials portfolio that is transforming jewelry production. The material enables jewelry manufacturers to design and produce more intricate, durable patterns as well as deliver improved production efficiency and reduced waste.
- September 2020 - DSM announced an agreement to sell DSM additive manufacturing to Covestro AG at the total purchase price of EUR 1.61 billion, as part of the sale of DSM Resins & Functional Materials and (other) related businesses. DSM Additive Manufacturing provides performance materials and deep application expertise in 3D printing to help manufacturers rethink the way they design products. As of that date, DSM reclassified these businesses as discontinued operations. The closing of the transaction is subject to regulatory approvals, including antitrust clearance.


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