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The global 3D printing materials market size is predicted to reach USD 3.78 billion by 2026. The growing necessity for easy prototyping and manufacturing of complex designs at low cost, less weight, and no material loss will spur demand 3D printing materials, which, in turn, will accelerate the 3D printing materials market growth, mentioned in a report, “3D Printing Materials Market Size, Share & Industry Analysis, By Type (Plastics, Metals, Ceramics, and Others), By End-Users (Automotive, Aerospace & Defense, Industrial, Medical, and Others), and Regional Forecast, 2019-2026” the market size stood at USD 1.53 billion in 2018 and is expected to exhibit a CAGR of 12.1% between 2019 to 2026.
Launch of Solef® PVDF by Solvay to Aid Business Prospects
Solvay, a Belgian chemical company headquartered in Neder-Over-Heembeek, Brussels, Belgium launched fluorinated thermoplastic Solef® PVDF, an innovative ready-made filament for additive manufacturing. The Solef® PVDF will be used in various industrial applications such as automotive, chemical processing, batteries and plumbing. The introduction of the ready-made filament by Solvay will bolster healthy growth of the market during the forecast period owing to the fluoropolymer, which will be used as a high-performance material to manufacture parts through injection molding and machining. Moreover, the groundbreaking technology in PVDF makes it advantageous in lower melting temperature and therefore, compatible for printer models and a wide-range of other applications. In addition, the launch of novel materials for 3D printing by prominent players will contribute significantly to the market revenue for 3D printing materials during the forecast period. For instance, in September 2019, 3D Systems launched new materials for 3D printing namely PRO-BLK 10, and HI TEMP 300-AMB. The new products will diversify company’s product portfolio and expand the range of applications for customers.
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High Production Cost of 3D printing to Restrict Market Growth
The 3D printing process requires materials in non-standard forms such as powder, filament, and liquid. The processing of the materials from standard form to an appropriate 3D printing adds up to the maximum production cost of materials. This, factor is predicted to dampen the growth of the market. Prices of materials compatible with 3D printers are up to 10-15 times higher compared to the materials used in traditional manufacturing processes, thus restricting the demand for 3D printing, which, in turn, will hamper the growth of the market during the forecast period. However, the growing innovation in R&D by key players to develop cost-effective materials for 3D printing will favor market growth in the forthcoming years.
Perpetual Developments by Key Players to Enhance Market Potential
The 3D printing materials market is dominated by prominent players focused on diversified product portfolio, product launches for a variety of applications. Moreover, the perpetual developments by key players to improve the physical properties and reduce the cost of the 3D printing materials is expected to consolidate market and therefore, create opportunities for the market. The increasing demand for 3D printing from industries such as automotive, aerospace, medical, and consumer products has encouraged companies to implement various growth strategies such as expansion, joint venture, and acquisition, which in turn, will augur well for the market.
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Value (USD billion)