In
a recent study, Transparency Market Research (TMR) profiles and studies
strategies adopted by the leading players in the global 3D
printing materials market. The study includes profiles of some
of the leading market participants such as Concept Laser GmbH, 3D Systems,
Inc., Arcam AB, Solidscape Inc., Optomec, Stratasys Ltd., and others. In
order to steal a march against competitors, most companies operating in the 3D
printing materials market are investing in the expansion of their product
portfolios. Through product innovation these companies aim at strengthening
their share in the global 3D printing materials market. The report also
analyzes the impact of various strategies adopted by the market players on the
overall 3D printing materials market.
TMR
forecasts the global 3D printing materials market to rise at a CAGR of 18%
between 2014 and 2020. At this pace, the market will reach US$1.4 bn by the end
of 2020 as against US$450 mn in 2013. Regionally, North America emerged
dominant in 2013 backed by the increasing use of 3D printing tech. The report
expects it to remain lead through the course of the forecast period.
Application-wise, the consumer products segment held the dominant share of 23%
in the global 3D printing materials market in 2013, trailed by the automotive
industry.
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Rising Adoption across Diverse
Industries to Boost Growth
Factors
such as the rising adoption of the 3D printing technology across diverse
industries will boost the global 3D printing materials market. In the coming
years, the increasing demand from education and government sectors is expected
to give impetus to the market. Furthermore, favorable regulations by
governments across developed countries are supporting the expansion of the
market worldwide.
In the
coming years, the global 3D printing materials market is expected to witness
rising demand from India, China, and ASEAN countries. The expansion of
automotive, consumer products, healthcare, and other industries across the
aforementioned countries will enable the market gain momentum in the coming
years. The market, as per TMR, is expected to witness increasing demand for
polymers on account of the rising uptake of desktop printers. Besides this, the
rising demand for 3D printed metals in energy, education, research, defense and
aerospace, industrial, and healthcare sectors will boost the market over the
course of the forecast period.
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Limited Penetration in Undeveloped
Nations May Create Hindrances to Growth
Despite
North America’s dominance, TMR projects Asia Pacific to show the highest CAGR
in the global 3D printing materials market. The rising demand from Japan and
China will enable growth in the Asia Pacific 3D printing materials market in
the coming years. In addition to this, the Europe market is slated to rise at
an impressive pace. On the other hand, TMR projects sluggish growth for the
market in Rest of the World. The limited penetration of 3D printing
technologies in undeveloped countries is likely to restrict the market to an
extent.
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