12.06.23
MarketsandMarkets’ report, "3D Printing Materials Market by Form (Powder, Liquid, Filament), Type (Plastic, Metal, Ceramic), Technology, Application, End-Use Industry (Automotive, Aerospace & Defence, Healthcare, Consumer Goods, Construction), and Region - Global Forecast to 2027," estimates the martket is expected to grow from US$2.5 billion in 2022 to US$7.9 billion by 2027, at a CAGR of 25.6% during the forecasted period.
The 3D printing materials market is witnessing significant growth because of the growing demand from healthcare, automotive, aerospace & defense, and consumer goods.
Currently, these printers are available in homes, offices, computer stores, and shopping hubs, where one can create inexpensive products in a considerably short span of time.
Demand for 3D printing plastics has significantly risen for creating prototypes over the past few years. Higher numbers of manufacturers are expected to utilize additive manufacturing for high-volume production. Lucrative market opportunities prevail for the market in aftermarket applications as manufacturers increasingly utilize additive manufacturing technology to produce new components in the aftermarket industry.
3D printing plastics have created several significant transformations in the automotive manufacturing industry, including products that are safer, cleaner, lighter, and in newer designs. Several original equipment manufacturers (OEMs) utilize additive manufacturing for creating automotive prototypes and high-volume direct manufacturing.
The 3D printing materials market is witnessing significant growth because of the growing demand from healthcare, automotive, aerospace & defense, and consumer goods.
Opportunity: Adoption of 3D Printing Technology in Home Printing
The 3D printing technology has been in the market from the last 30 years, but the sudden increase in the hype is due to the availability of home 3D printers. These home printers are available in the market at very low costs, which is boosting the demand for home 3D printers leading to the high growth of the 3D printing materials market.Currently, these printers are available in homes, offices, computer stores, and shopping hubs, where one can create inexpensive products in a considerably short span of time.
Demand for 3D printing plastics has significantly risen for creating prototypes over the past few years. Higher numbers of manufacturers are expected to utilize additive manufacturing for high-volume production. Lucrative market opportunities prevail for the market in aftermarket applications as manufacturers increasingly utilize additive manufacturing technology to produce new components in the aftermarket industry.
3D printing plastics have created several significant transformations in the automotive manufacturing industry, including products that are safer, cleaner, lighter, and in newer designs. Several original equipment manufacturers (OEMs) utilize additive manufacturing for creating automotive prototypes and high-volume direct manufacturing.