Selbyville, Delaware, Jan. 09, 2023 (GLOBE NEWSWIRE) -- As per the new report published by Global Market Insights Inc., the Global 3D Printing Materials Market is set to exceed USD 5 billion by 2032, while 3D Printing Equipment Market is expected to record a valuation of over USD 28 billion by 2032.
Robust outlook of the electronics industry globally, owing to the increasing technological advancements, will drive the demand for 3D printing materials and equipment during the forecast period. The consumer electronics sector has undergone significant evolution over recent years, driven by the increasing mobile and internet penetration across the remotest part of the world and the expanding wearables and hearables market in both developed and developing economies.
The industry intersects with a number of end-use verticals, including app development, IT hardware, software, robotics, personalized healthcare, and software. Improving living standards and rising disposable incomes, resulting in increased sales of consumables and electronic appliances, will positively influence the 3D printing materials and equipment industry. For instance, electronics production in India reached an estimated USD 67 billion in 2020-21 from USD 29 billion in 2014-15.
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Plastic 3D printing to gain popularity due to broad application spectrum
Based on product, 3D printing materials market value from plastics segment is anticipated to surpass USD 470 million by 2032, claims the report. 3D printing plastics are extensively utilized across several industries, including manufacturing, aerospace, automotive, and medical, owing to their availability in a comprehensive range and superior lightweight and cost-effective attributes. The consistent evolution of prototyping and additive manufacturing processes will further contribute to segment growth over the coming years.
Increasing technological breakthroughs to drive product demand across the automotive sector
Automotive sector is expected to contribute over USD 960 million in revenues by 2032 to the 3D printing materials market. 3D printing technologies offer endless benefits over traditional manufacturing methods when it comes to the automotive industry. Car or automotive components manufactured using advanced 3D printing techniques such as FDM have significantly lighter weight. This helps reduce the overall vehicle weight and results in lower energy consumption and better fuel efficiency and performance, thus driving product demand.
Improved efficiency and cost-effectiveness to bolster the adoption of the FDM 3D printing technique
3D printing equipment business from Fuse Deposition Modeling (FDM) segment is slated to expand at 18% CAGR between 2023 and 2032. FDM takes only a few minutes or hours to print an entire part, which helps speed up the prototyping process while shortening lead times. FDM printers have an easily scalable design and are compatible with a range of colors and filament materials, including acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), and nylon. These characteristics make them highly cost-effective and preferred alternatives over their counterparts and may lead to their increased adoption during the study timeframe.
Strict environmental regulations to augment product sales across Europe
Europe 3D printing materials market is projected to amass over USD 1.3 billion by 2032. The regional growth is credited to the flourishing economic landscape and the remarkable rise in electronics and automotive sales. An increased emphasis on boosting the production of energy-efficient and lightweight vehicles with better fuel economy pushed by the stringent regulatory mandates will further augment the demand for 3D printing materials and equipment in Europe.
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Strategic alliances to stimulate the competitive scenario
Prominent enterprises participating in the 3D printing materials and equipment market include Höganäs AB, 3D Systems, Inc., Concept Laser GmbH, Stratasys Ltd., Arcam AB, Solidscape, Inc., Arkema S.A., EOS GmbH (Electro Optical Systems), Voxeljet AG, ExOne, Royal DSM N.V, LPW Technology, Ltd., EnvisionTEC GmbH, Optomec, SLM Solutions, others. These companies have been strengthening their strategic bonds as part of their key growth strategy to gain access to a broader consumer base.
Partial chapters of report table of contents (TOC):
Chapter 4 Competitive landscape
4.1 Introduction
4.2 Company market share analysis, 2022
4.2.1 North America market share analysis 2022
4.2.2 Europe market share analysis 2022
4.2.3 Asia Pacific market share analysis 2022
4.2.4 Latin America market share analysis 2022
4.2.5 MEA market share analysis 2022
4.3 Strategic dashboard
Chapter 5 3D Printing Materials market, By Product
5.1 Global 3D printing materials market product insights
5.2 Ceramics
5.2.1 Market estimate and forecast 2018 - 2032
5.2.2 Market estimate and forecast, by region, 2018 - 2032
5.3 Plastics
5.3.1 Market estimate and forecast 2018 - 2032
5.3.2 Market estimate and forecast, by region, 2018 - 2032
5.4 Metals
5.4.1 Market estimate and forecast 2018 - 2032
5.4.2 Market estimate and forecast, by region, 2018 - 2032
5.5 Others
5.5.1 Market estimate and forecast 2018 - 2032
5.5.2 Market estimate and forecast, by region, 2018 - 2032
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About Global Market Insights
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.
