Selbyville, Delaware, April 20, 2022 (GLOBE NEWSWIRE) -- As per the latest research report by Global Market Insights Inc., the 3D Printing Materials & Equipment Market was estimated at $1.7 billion and $4.5 billion in 2021. The industry is expected to reach a valuation of around USD 20.8 billion from 2022 to 2028. The report provides a detailed analysis of major investment pockets, market size & estimations, drivers & opportunities, top winning strategies, the competitive scenario, and wavering market trends.
3D printing or additive manufacturing has transformed many industrial processes, particularly in the manufacturing sector. The technology’s unparalleled ability to improve speed-to-market, decrease costs, and customize specialty parts is supporting innovation and development of novel technologies. The expanding scope of application of 3D printing in several industries is poised to aid the growth of the 3D printing materials & equipment market over the forecast period.
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The fused deposition modelling (FDM), also referred to as fused filament fabrication (FFF), deposits melted material selectively layer after layer in a predefined manner to build parts. It utilizes thermoplastic polymers that are available in the form of polymers. FDM is cost-efficient, portable, less complex, has an ergonomic and compact design, and works with a wide range of materials, which would boost product adoption. Driven by these factors, the fused deposition modelling (FDM) product segment is likely to reach a valuation of more than USD 5.3 billion by the end of 2028.
Meanwhile, the plastics product segment is set to progress at a significant pace through the assessment timespan. The relatively low cost and ease of manufacturing of these products are anticipated to drive segmental growth in the coming years.
Key reasons for 3D printing materials & equipment market growth:
- Rising uptake of plastics in 3D printing.
- High utilization in automotive applications.
- Prevalent demand in manufacturing sector.
- Growing adoption across education industry.
2028 forecasts show ‘education’ segment retaining its dominance:
From the end-user perspective, the education segment is estimated to witness robust growth over the analysis timeline. Numerous colleges utilize 3D printing modules and projects in the fields of engineering, applied sciences, and others. 3D printing technologies support skill development, boost engagement of students & teachers regarding a certain subject, promote more creativity and collaboration in problem solving, and improve learning. Surging product demand in the education sector is set to be favorable for segmental expansion in the upcoming period.
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Asia Pacific to maintain top status in terms of revenue:
In the regional landscape, the Asia Pacific 3D printing materials & equipment market is primed to account for more than 30% of the overall industry revenue by the end of 2028. Favorable trends associated with the manufacturing, electronics, and automotive sectors, coupled with increasing investments and supportive government initiatives, are foreseen to bolster product adoption in APAC in the future.
Impact of COVID-19 pandemic on 3D printing materials & equipment market:
3D printing facilitates the development of on-demand solutions for a wide array of requirements right from personal protective equipment (PPE) to isolation wards and medical devices. The COVID-19 outbreak caused supply chain disruptions, thereby creating a shortage of PPE, which left frontline workers unprotected and burdened the global healthcare infrastructure. Subsequently, rising interest in the use of 3D printing materials & equipment for fabricating various products, especially for medical applications, has been favorable for market growth during the pandemic.
Leading market players:
Key companies operating in the global 3D printing materials & equipment industry include Höganäs AB, SLM Solutions, EnvisionTEC GmbH, 3D Systems, Inc., Stratasys Ltd., Concept Laser GmbH, Arkema S.A., Royal DSM N.V., Solidscape, Inc., Arcam AB, EOS GmbH (Optical Systems), ExOne, voxeljet AG, Optomec, and LPW Technology, Ltd., among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
