3D Printing Materials Market is Expected to Reach USD 1,432 million by 2020

According to the report, the 3D printing materials market was valued at USD 450 million in 2013 and is likely to reach USD 1,432 million by 2020, expanding at a CAGR of 18.0% during the forecast period from 2014 to 2020. In terms of volume, the global demand for 3D printing materials stood at 2,000 kilo tons in 2013.

Rising demand for 3D printing technology in the manufacture of various products is expected to be one of the primary factors driving the 3D printing materials market. These materials are used extensively in various sectors such as consumer & electronics products, automotive and medical. Regulatory support to 3D printing from various governmental bodies is anticipated to boost the 3D printing materials market further. Furthermore, consumer access to 3D printing has increased due to the rise in the number of 3D printing service centers. Availability of low-cost printers has also propelled demand for 3D printing in personal use applications. However, high cost of these materials is expected to be a restraining factor for the growth of the market. Nonetheless, development of 3D scanning and printing technology is projected to open growth opportunities in the near future.

Plastics were the single largest product segment of the 3D printing materials market, accounting for over 48% of the market in terms of volume in 2013. Additionally, it is expected to be the fastest growing segment during the forecast period, due to rising demand for plastics from electronics & consumer products and printing market sectors.

Among the various application sectors, consumer products and electronics accounted for a share of about 23%, followed by automotive, at the end of 2013. Currently, the consumer products and electronics sector is the largest segment and this trend is likely to continue over the duration of the forecast period. The segment is projected to grow at a CAGR of over 17% between 2014 and 2020. Higher access to 3D printing coupled with rising adoption for personal use is supporting the growth in the segment. The 3D printing function is used to print parts of electronic products such as cases for mobile phones, TV remotes, and TV antenna in consumer products and electronics segment. It is used to print products such as window frames, toys and spare parts of vacuum cleaners in household applications.

North America was the largest market for 3D printing materials market in 2013 in terms of volume. This trend is likely to continue during the forecast period. The U.S., Canada and Mexico are the major countries supporting the growth of 3D printing in North America. Presence of dominant players coupled with high adoption rate of new technologies in the region has boosted market growth. Asia Pacific is estimated to be the fastest growing region in the 3D printing materials market in the next few years owing to rising adoption of 3D printing technology by various countries in the region such as Japan, China and South Korea. … (Read more)

Source: GlobeNewsWire.com