Additive Manufacturing Global 3D printing materials market to triple until 2027

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The global 3D printing materials market is set to grow drastically by 2027, driven by healthcare, automotive, aerospace and consumer goods sectors. Major players like 3D Systems and General Electric are enhancing their positions through strategic mergers and new products. One sector in particular is expected to dominate, with Europe playing a significant role in market demand.

As per the recently published report by Markets and Markets, the global 3D printing materials market is expected to grow from 2.5 billion dollars in 2022 to 7.9 billion by 2027. This massive annual growth rate of 25.6 percent is driven by demand from healthcare, automotive, aerospace & defense and consumer goods.

The major players active in the 3D printing materials market are 3D Systems (US), Arkema (France), Stratasys (US), General Electric (US), EOS (Germany), Materialise (Belgium), Sandvik (Sweden), Höganäs (Sweden), Evonik Industries (Germany), BASF (Germany), Henkel (Germany), Solvay (Belgium) and others. Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the 3D printing materials market.

Demand for 3D printing plastics has significantly risen for creating prototypes over the past few years. Higher numbers of manufacturers are expected to utilize additive manufacturing for high-volume production. Lucrative market opportunities prevail for the market in aftermarket applications as manufacturers increasingly utilize additive manufacturing technology to produce new components in the aftermarket industry. 3D printing plastics have created several significant transformations in the automotive manufacturing industry, including products that are safer, cleaner, lighter, and in newer designs. Several original equipment manufacturers (OEMs) utilize additive manufacturing for creating automotive prototypes and high-volume direct manufacturing.

Healthcare end-use industry is expected to hold the largest market share

3D printing materials are widely used in the healthcare industry for manufacturing surgical equipment, prosthetics, implants, and tissue engineering products. These products are manufactured using 3D printing technology as it offers a high level of precision during manufacturing. In the healthcare sector, bio-based grades of materials certified by various government agencies are used for making capsules to ensure that the required dosages of medicines designed for particular body organs reach them on time. 3D printing materials market growth in the healthcare industry can be attributed to the development of new and improved grades of 3D printing materials for the industry through financial support from various governments for their development.

Europe is the second-largest region in terms of value during

Europe is the second major market in terms of the consumption of 3D printing materials. It has a significant number of existing manufacturers that are actively participating in development activities, especially in expansions and new product launches. The region has the presence of major 3D printing manufacturers such as EOS (Germany), Materialise (Belgium), Sandvik (Sweden), Arkema (France), and Höganäs (Sweden). Europe is home to major automotive and, aerospace & defense industries that are responsible for the augmenting demand for 3D printing materials in the region. The increasing usage of 3D printing materials in the healthcare industry is playing a major role in the increasing demand for 3D printing materials. Governments in Europe are significantly adopting additive manufacturing in the manufacturing sector.

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