3DP Materials Market is Expected to Grow at a CAGR of 29.5% From 2014 to 2020, due to its Possibility to Print any Given Object with a Digital Design
HYDERABAD, India, February 10, 2015 /PRNewswire/ --
3D printing has begun to flourish in various application areas including aerospace, automobile, consumer, and medical. The materials used for these purposes vary accordingly. As per IndustryARC analysis the 3DP materials market has revenue of $351.4m as of 2013 where consumer 3D printing is the major market share of46% in 2013. Consumer 3D printers majorly uses plastic and the consumption of plastics is expected to increase dramatically in the future as the number of consumer printers shipped are showing the trend to double till 2020 which will also affect the consumption of plastics in a positive way. Metals have unique properties which increases their demand in various applications. At present, 3D printing of metals is widely used in applications such as aerospace and defense, automobiles and so on and it is slowly penetrating into various other applications.
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Aerospace industry widely uses titanium which is very much lighter compared to other metals and has great strength. So using these parts will increase the efficiency of the spacecraft. But its use is limited because of high cost, for instance: one kilo of 3D printing titanium will cost around $200-$300 as compared with other metals such as aluminum, steel and so on. But its consumption is expected to increase not only in aerospace but also in other applications as the cost of 3D printed titanium powder is expected to fall below $100 (a kilo) as the U.K. based Metalysis have developed a cost efficient way to produce low cost titanium powder for 3D printing.
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Currently, plastics are the most widely used materials in additive manufacturing due to the growth in consumer 3D printing industry and some of the important plastics include ABS, PLA, PVA and PET. ABS and PLA together accounted for 70.0% of the global 3D printing plastics market. With the invention of home 3D printers that uses plastic filaments to 3D print of any object, the demand for these materials has grown tremendously and this trend is expected to continue in the next five years.
Metals like steel, titanium, aluminum, copper, silver, gold, nickel, cobalt and others are available in the market but are expensive. Metal 3D printing is a costly method and hence, metal materials are limited to high-end applications like aerospace and automobiles. A range of other manufacturing materials that can be used for 3D printing include: nylon, glass-filled polyamide, epoxy resins, wax and paper. This report published by IndustryARC has defined market for each of these materials with respective applications for each region and major countries.Major manufacturers of 3D printing materials like 3D Systems, Stratasys, Materialise N.V., and EOS GmbH and so on are analyzed and profiled in this report. Stratasys Ltd. and 3D Systems are the two key market players in the 3DP materials industry. While Stratasys occupies 34% of the market, 3D Systems has a market share of 32% of the global additive manufacturing materials market.
Huge investments are pouring into this industry through various sources for various research purposes, which would result decrease in prices of available products and also develop new 3DP materials in the future which would increase the demand of these products. Even various government bodies like National Aeronautics and Space Administration (NASA) and others have also started to explore the 3D printing market.Consumer 3D printing industry is growing at a rapid rate of approximately 40% compared to any other industry in 3D printing and the consumer 3D printers were expected to reach 1 million shipments in 2013 with most of its demand from North America.
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The cost of professional and industrial 3D printers manufactured by major companies such as Stratasys, 3D systems and so on are as high as $1m per unit, making it affordable for only large organizations. This has indirectly affecting the demand for industrial 3D printing metal materials as these industries which uses only metal powders. However, with the growing demand, the market will reflect in the reduction of prices for both printers and materials and is expected to see high growth in future.
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