3D Printing Materials Market to Reach Valuation of US$ 9.5 Bn by 2027
3D Printing Materials Market is likely to grow at strong CAGR of 24% during forecast 2019 to 2027, the demand for plastics is high in the 3D printing materials market owing to their flexibility and enhanced durability
Rising applications in medical and dental industries to manufacture organs such as heart and liver as well as in fabricating various human tissues and medications are expected drive the demand for global 3D printing materials market. Products in the global 3D printing materials market are also used in dental industry to manufacture dental crowns for the root canal procedures. Growing usage of desktop as well as professional 3D printers in variety of industry verticals in collinearly boosting the demand in the global 3D printing materials market. Research report also predicts that the rising demand from education sector is also likely to contribute to the expansion of the global 3D printing materials market in coming years.
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Demand for Plastics is High in the 3D Printing Materials Market
Segments in the global 3D printing materials market by type of product include ceramics, metals, wax, plastics, and lay wood, among others. Plastics segment records high demand in the global 3D printing materials market owing to their enhanced abilities and flexible nature. They are available in a huge range of colors and textures, making them one of the most used material in the global 3D printing materials market. Constant advancements in technology have also propelled the need for development of new types of materials in the global 3D printing materials market. Many players and manufacturers in the global 3D printing materials market are focused on leveraging latest technologies to develop new and enhanced materials that can be used in various industry verticals according to their specific demands.
Segments in the global 3D printing materials market by application include electronics, medical, education, consumer products, aerospace, architecture, automotive, industrial, and military, among others. 3D printing technologies offer various benefits to a huge range of industry verticals such as sturdiness of constructed structures, enhanced product quality, complete customizability, and attractiveness in the designs. Furthermore, these qualities along with favorable governmental initiatives to manufacturing organizations is fueling the expansion of the global 3D printing materials market in recent times. However, lack of standardized process in 3D printing technologies along with high cost associated with 3D printers as well as printing materials are key restraints for the development of the global 3D printing materials market.
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North America Dominates the 3D Printing Materials Market, Holds 27% Share
Key regions assessed in the market study on global 3D printing materials market include North America, Europe, Asia Pacific, and rest of the world. North America held the dominant position in the global 3D printing materials market in 2018, accounting for more than 27% stake of the entire global market. However, rising adoption of 3D printing technologies in Japan and China is anticipated to create lucrative opportunities for the growth of global 3D printing materials market in Asia Pacific region. The global 3D printing materials market is also expected to witness exceptional growth in Europe in coming years. However, limited scope of using 3D printing technologies in various parts of the world is one of the key restraints for the development of the overall global 3D printing materials market.
The global 3D printing materials market witnesses a highly fragmented competitive landscape. Some of the key incumbent vendors operating within the global 3D printing materials market include Royal DSM N.V., Stratasys Ltd., ExOne GmbH, Dutch Filaments, Imagin Plastics Ltd., Push Plastic, Rigid Ink, 3D Systems, Inc., Arcam, Materialise N.V., Replicator Warehouse, Leapfrog, 3D Inkspot, and 3D Universal. Many of the players and manufacturers in the global 3D printing materials market are designing and producing new products to expand their consumer base. This trend of enhancing product offerings and launching new products is anticipated to intensify the competition in the global 3D printing materials market in coming years.
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