The 3D printing materials market was USD 2,578.8 million in 2022, and it will reach USD 16,230.8 million by 2030, advancing at a rate of 25.9% in the years to come.
Plastics holds the largest share in terms of volume, over 30%. This is because of the low prices, easy availability of plastics and their use in numerous designs.
Additionally, plastic materials offer high adaptability, extreme temperatures, resistance to abrasion, shock, physical distortion, and chemicals; excellent flexibility, sturdiness, and high elasticity, which further increases their consumption.
The filament form dominated the industry in the recent past. This has a lot to do with the use of filaments in toys, numerous household objects, educational models, and cars. Some of the frequently used filaments are PP, nylon, TPU, PLA, ABS, and PVA.
Because of the high strength, low cost, and wide variety of applications, the requirement for 3D printing filaments will keep on increasing in the years to come.
Furthermore, the powder category will grow at the highest rate. This is because of the fact that powder is put to use for creating large, dense parts in the military, aerospace, and oil and gas sectors.
Moreover, the powder form can withstand high temperatures; hence, it is given preference over others, particularly in the oil and gas and aerospace sectors.
Manufacturing companies are exploring prospects to integrate additive manufacturing into their conventional processes, for yielding better and fast results, which will fuel the growth of the industry. Currently, majority of the companies are making use of it for prototyping, the most-accepted usage of 3D printing.
Though, the medical and dental and aerospace and defense sectors are already making use of it as a full-scale production procedure, rather than just prototyping.
North America dominated the 3D printing materials market, around 45%, in the recent past. This has lot to do with the growth and wide acceptance of the use of this technology in product manufacturing and mass customization . The governments of numerous countries are encouraging the usage of 3D printing.
Furthermore, Europe followed North America in the recent past, with about 35%. The progress of the industry in this region is powered by the existence of notable aircraft manufacturing companies, for example EuroJet Turbo GmbH, Airbus SE, ArianeGroup, and European Satellite Navigation sectors. As 3D printing materials offer users a simple supply chain, lessen risk, and are lightweight, their acceptance has increased in the aerospace sector.