3D Printing Ceramic Market to Garner $307.0 Million, Globally, By 2027 at 15.2% CAGR, Says Allied Market Research
- Rise in penetration of bio-based materials and technological advancements drive the growth of the global 3D Printing Ceramic market
Portland, Ore., Sept. 14, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "3D Printing Ceramic Market by Type (Technical Ceramic and Classic Ceramic), Form (Filament, Powder, and Liquid), and End-User Industry (Aerospace & Defense, Healthcare, Automotive, Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global 3D Printing Ceramic market size was valued at $98.7 million in 2019 and is estimated to reach $307.0 million by 2027, growing at CAGR of 15.2% from 2020 to 2027.
Prime determinants of growth-
Rise in penetration of bio-based materials and technological advancements drive the growth of the global 3D Printing Ceramic market. However, high cost of raw material restrains the growth to some extent. On the other hand, applications offered by 3D printing ceramic in other applications would create new opportunities in the coming years.
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COVID-19 scenario-
- COVID-19 outbreak has impacted the overall sales of 3D printers. Furthermore, the disruptions in supply chain management in early phase of the lockdown have resulted in shortage of raw materials, thereby declining the demand.
- Nevertheless, the government bodies in several regions have given a nod to the manufacturing and other firms to restart their processes.
The technical ceramic segment to dominate the market throughout the forecast period-
Based on type, the technical ceramic segment contributed to the largest market share in 2019, holding more than half of the global 3D printing ceramic market, and is expected to continue to dominate in terms of revenue throughout the forecast period. In addition, the segment is estimated to maintain the highest CAGR of 15.9% from 2020 to 2027. Components made from technical ceramics are electrically insulating and puncture-proof and are therefore suitable for a wide range of applications, such as substrates in the electronics industry. This factor drives the growth of the segment.
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The powder segment to retain its lead position throughout 2027-
Based on form, the powder segment accounted for nearly two-thirds of the global 3D printing ceramic market in 2019, and is expected to continue its lead position throughout the forecast period. Furthermore, the same segment is also anticipated to register the highest CAGR of 15.9% during the forecast period. Surge in population of ageing people across the European and Asia-Pacific region has led to surge in demand for orthopedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics. This reason augments the demand for powder-based 3D printing.
North America to lead the trail throughout 2027-
Based on region, North America contributed to nearly one-third of the global 3D printing ceramic market in 2019, and is expected to maintain its dominant share by 2027. This is owing to the rise in application of 3D printing ceramics in medical sector and increase in demand for 3D printing ceramics from the aerospace and automobile industry. On the other hand, the Asia-Pacific region is estimated to portray the fastest CAGR of 17.7% from 2020 to 2027. This is attributed to surge in disposable income of people in countries such as China, India, ASEAN, and others.
Leading Market Players-
- 3D Ceram, Admatec
- The Exone Company
- Kwambio
- Lithoz GmbH
- Prodways Group
- Voxeljet AG
- Steinbach AG
- Tethon 3D
- EnvisionTEC.
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