Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Asia Pacific |
| CAGR: | >20 % |
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Market Overview
The 3D printing materials market is projected to register a CAGR of over 20% during the forecast period (2021-2026).
With the outbreak of the COVID-19 pandemic, the 3D printing materials market has suffered due to the disruption in the supply chain, resulting in delays of several projects. Moreover, disrupted financial flows and strict lockdowns in various countries, resulting in growing absenteeism among production line workers, have also affected the market adversely. Automotive designers fabricate a physical part or assembly prototype using 3D printing, which can range from a simple interior element to a dashboard or even a scale model of an entire car. In 2020, the COVID-19 pandemic severely impacted the automobile sector, with lockdowns implemented across all countries and automotive production halted in several countries. According to OICA, global production of vehicles in the third quarter of 2020 was around 50 million, a significant decrease compared to the production in the third quarter of 2019, which was around 65 million. In April, automotive production came to a grinding halt in the United Kingdom, with only 197 cars made in the whole month (a staggering drop of 99%). This pattern of production halt was also observed in many major countries like Italy, Spain, India, etc., which severely affected the growth of the market. However, the market is anticipated to recover as there is an increased demand for electric vehicles, driven mainly by government incentives and increasing environmental consciousness among consumers. This is expected to drive the 3D printing materials market in the near future.
In the medium term, some of the major factors expected to drive the market growth are increasing usage in various manufacturing applications and mass customization associated with 3D printing. On the flip side, the requirement of high capital investment is likely to hinder the market’s growth.
The Asia-Pacific region is dominating the market, and it is expected to dominate during the forecast period as well.
Scope of the Report
The 3D printing materials market is segmented by material type, form, end-user industry, and geography. By material type, the market is segmented into plastics, ceramics, metals, and other material types. By form, the market is segmented into powder, filament, and liquid. By end-user industry, the market is segmented into automotive, medical, aerospace and defense, consumer electronics, and other end-user industries. The report also covers the market sizes and forecasts for the 3D printing materials market in 17 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
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Key Market Trends
Increasing Applications in the Automotive Industry
3D printing materials are extensively used in the automotive industry to manufacture the scaled models for testing. They are also used for components, such as bellows, front bumper, air conditioning ducting, suspension wishbone, dashboard interface, alternator mounting bracket, battery cover, etc. Automotive OEM manufacturers are using 3D printing materials for rapid prototyping.
Owing to the advantages of the 3D printing process, such as low cost, less manufacturing time, reduced material wastage, etc., automotive manufacturers are moving toward the usage of this process. Some of the largest automotive manufacturers in the world, such as AUDI, Rolls Royce, Porsche, Hackrod, and many others, are using these materials for manufacturing spare parts and metal prototypes.
The current slowdown in global automotive production has affected the market for polyester staple fiber because of the decreased demand for automotive fibers. Additionally, the current slowdown in automotive sales in countries such as China is further expected to hinder the demand for 3D printing materials.
The Chinese automotive manufacturing industry is the largest in the world. The industry witnessed a huge slowdown in 2018, wherein the production and sales declined. A similar trend continued in 2019, with production witnessing a 7.5% decline. According to the China Association of Automobile Manufacturers (CAAM), automotive vehicles’ production and sales in 2020 in China amounted to 25.225 million units and 25.331 million units, down by 2% and 1.9%, respectively, compared to the previous year.
The COVID-19 pandemic has severely impacted the automotive sector globally; according to OICA (International Organization of Motor Vehicle Manufacturers), global production of vehicles in the third quarter of 2020 was around 50 million, a significant decrease compared to the production in the third quarter of 2019, which was around 65 million.
However, the demand for 3D printing materials in the automotive industry is expected to grow in the future.
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China is Expected to Dominate the Market
In Asia-Pacific, China is one of the fastest-growing economies globally, and almost all the end-user industries have been growing due to the rising population, living standards, and per capita income. However, owing to the international trade turbulences and unfavorable geopolitical affairs, the growth rate is expected to slow down in the initial years of the forecast period.
Moreover, China was the only major economy globally to achieve positive GDP growth in 2020. According to the data released by China’s National Bureau of Statistics, a 6.4% growth in GDP was recorded in Q4 2020, which flung the annual growth for 2020 to 2.3%, despite a 6.8% contraction in the quarter ending March 2020, as China was dealing with a spike in COVID-19 cases.
China is among the fastest-growing markets in terms of new technologies and the usage of innovative materials for construction purposes. With China’s dominating role as a global construction center, the accelerated development in the 3D concrete printing sector is likely to revolutionize the traditional construction industry in the country, with applications ranging from residential buildings to monuments. The country managed to 3D print homes and other large-scale structures in 2015, making every other country look into the possibilities of 3D printing in construction.
The country is involved in the construction of buildings, offices, and bridges using 3D printing technology. Additionally, Shanghai is the home for the longest 3D-printed bridge (86 feet in length) in the world, consisting of 176 concrete units.
Winsun, the leading company in the 3D printing construction sector in China, has been developing 3D-printed houses lately in the country to demonstrate the advantages of 3D concrete printing over conventional building techniques. The company constructed ten 3D-printed houses in one day, at an economic scale (nearly USD 5,000 for one house).
There are a few limitations for 3D printing in the construction sector, such as lack of confidence from building developers and absence of proper regulations for the usage of this technology. However, with the increasing awareness regarding new technologies and their advantages, organizations and individuals are increasingly tending toward cost-saving alternatives. This, in turn, is driving the demand in the 3D concrete printing market in the country.
In 2020, Winsun, a Shanghai-based company, built 15 quarantine wards using 3D printing technology and donated them to a hospital in Hubei province for COVID-19 patients. Each ward is of 10 square meters area, built with a base cost of around CNY 28,000.
In the first quarter of 2020, the country witnessed a slow growth in construction activity due to the COVID-19 impact and lockdown. This negatively impacted the market in the first half of 2020. However, with the lifting of lockdown in April 2020, the construction activities in the country have slowly picked up pace.
China has the world's largest automotive market in terms of production. Although the production in the country declined in the past few years, the electric vehicles segment is expected to grow. In April 2020, the Ministry of Finance of the People’s Republic of China issued a notice on ways to promote financial subsidies for new electric vehicles. It stated that new EVs purchased between January 1, 2021, and December 31, 2022, would be exempted from vehicle purchase tax.
Furthermore, the layer-by-layer deposition process in 3D printing allows sensors, antennas, and other functional electronics to be printed directly onto plastic components, metal surfaces, and even glass panels and ceramic materials. In the electronics segment, China generated the highest revenue globally, which was around USD 173 billion, and the total revenue of the region amounted to USD 227 billion by 2019, which is expected to reach USD 260 billion by 2024.
All such factors and the demand in the country are expected to drive the market studied.
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Competitive Landscape
The 3D printing materials market is consolidated, with few players holding the major share in the market. Key players in the 3D printing materials market include Ultimaker BV, Arkema, 3D Systems Inc., Höganäs AB, and Covestro AG, among others.
Major Players
Recent Developments
In September 2020, DSM announced an agreement to sell DSM additive manufacturing to Covestro AG at the total purchase price of EUR 1.61 billion, as part of the sale of DSM Resins & Functional Materials and (other) related businesses. DSM Additive Manufacturing provides performance materials and deep application expertise in 3D printing to help manufacturers rethink the way they design products. As of that date, DSM reclassified these businesses as discontinued operations. The closing of the transaction is subject to regulatory approvals, including anti-trust clearance.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Usage in Manufacturing Applications
4.1.2 Mass Customization Associated with 3D Printing
4.1.3 Government Support for Research and Development
4.2 Restraints
4.2.1 High Capital Investment Requirement
4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Impact
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Material Type
5.1.1 Plastics
5.1.1.1 Acrylonitrile Butadiene Styrene (ABS)
5.1.1.2 Polylactic Acid (PLA)
5.1.1.3 Nylon
5.1.1.4 Polyamide
5.1.1.5 Polycarbonates
5.1.1.6 Other Plastics
5.1.2 Ceramics
5.1.3 Metals
5.1.4 Other Material Types
5.2 Form
5.2.1 Powder
5.2.2 Filament
5.2.3 Liquid
5.3 End-user Industry
5.3.1 Automotive
5.3.2 Medical
5.3.3 Aerospace and Defense
5.3.4 Consumer Electronics
5.3.5 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Singapore
5.4.1.6 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Russia
5.4.3.6 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3D Systems Inc.
6.4.2 Arkema
6.4.3 Covestro AG
6.4.4 CRP TECHNOLOGY S.r.l.
6.4.5 CRS Holdings Inc. (LPW Technology Ltd)
6.4.6 ENVISIONTEC INC.
6.4.7 EOS
6.4.8 General Electric
6.4.9 Höganäs AB
6.4.10 Sandvik AB
6.4.11 Solvay
6.4.12 Stratasys Ltd
6.4.13 Ultimaker BV
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Introduction of New Materials, like Graphene Opens Up New Applications
7.2 Adoption of 3D Printing Technology in Home Printing
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Frequently Asked Questions
What is the study period of this market?
The 3D Printing Materials Market market is studied from 2016 - 2026.
What is the growth rate of 3D Printing Materials Market?
The 3D Printing Materials Market is growing at a CAGR of >20% over the next 5 years.
Which region has highest growth rate in 3D Printing Materials Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in 3D Printing Materials Market?
Asia Pacific holds highest share in 2020.
Who are the key players in 3D Printing Materials Market?
Ultimaker BV, Arkema, 3D Systems, Inc., Höganäs AB, Covestro AG are the major companies operating in 3D Printing Materials Market.
