The global 3D printing market is witnessing promising growth driven by the ease in customized product development, coupled with favorable government investments. In addition, rising demand from the end-user industries, such as automotive and aerospace, are likely to drive the market demand on account of the superior precision of the manufactured products.
The major factors driving the demand for 3D printing materials over the next seven years include the following:
- Reduced production time and increased flexibility
- Production of complex parts and components in the aerospace and automotive industries
- Superior properties as compared to conventionally used materials
- Improvement in the infrastructure for 3D printing.
Extensive regulatory framework due to critical application nature
The use of 3D printing materials is expected to remain extensive on account of the increasing application scope. Growth in the use of products for manufacturing components in automotive and aerospace industries is expected to drive the market growth over the forecast period. Some of the regulations governing the 3D printing materials market include:
- OSHA Hazard Communication Standard 29 CFR 1910.12001(HCS)
- European regulations EC No. 1935/2004
- EC No. 2023/2006
- As per FAA, the parts produced through 3D printing technology should fulfill standards, which are typically set for products manufactured through traditional process.
- Type Certificate (TC) – Part 23, 25, 27, 29 and 33
- Production Certificate (PC)
- Parts Manufacturer Approval (PMA)
- Technical Standard Order Authorization (TSOA)
Market is expected to be characterized by the multiple strategic initiatives aimed at increasing the market shares
The 3D printing materials market is expected to grow significantly over the forecast period. One of the market’s major drivers is the adoption of 3D printing technology. The major product manufacturers are strategizing to capture the growing market’s maximum. Launching new products, increasing technical expertise through acquisitions and mergers, and increasing their distribution channels will mark their presence across various regions.
Innovations in 3D printing
- In November 2018, ExOne launched a new 3D printing machine called New X1 25PRO. This machine is expected to address the manufacturing demands in the powder metallurgy industry through its significant production volume capability.
- In November 2018, 3D Systems launched two new products–DMP Factory 350 and DMP Flex 350–designed for large-scale production of critical components for aerospace, transport and healthcare industries. Moreover, the company also launched a new aluminum alloy material for the production of strong but lightweight parts.
- ExOne added six new printed materials including cobalt-chrome, IN alloy 718, iron-chrome-aluminum, 17-4 stainless steel and 316 stainless steel and tungsten carbide to the company’s 3D printing metals. This addition supports the goal to broaden the industries that ExOne serves.
- Materialise NV also introduced stainless steels known as 316L and 1.4404 into its metal 3D printing Its uses for additive manufacturing include:
- machine building
- tool making
- food safe application
- medical instruments
- durable prototypes
- spare parts
- ductwork
- production tools
- In November 2016, Arcam introduced a new CoCr process, which provides high resolution, high productivity and superior material properties. It can be used in orthopedic and aerospace industries.
- In May 2016, Alcoa’s 3D printing technology portfolio included Arcam’s largest as well as fastest 3D printer, the Arcam Q20plus.
- In November 2018, BASF announced to extend its cooperation with Materialise by agreeing to invest $25 million in Materialise. This agreement is expected to focus on applications in the aviation, automotive and consumer goods sectors, and to allow wider scale testing and optimization of BASF materials with the Materialise.
The market for 3D printing materials is expected to register notable growth due to the following factors:
Growth of the 3D printing industry
The chief reason for the growing popularity of 3D printing is the demand for low cost mass manufacturing to reduce lead time and increase the quality and efficiency of the resulting product has been the chief reason for the growing popularity of 3D printing.
3D printing applications are steadily increasing. Spare parts and prototypes have given way to commercial production, where a substantial number of printed parts are made for various industries. The industrial goods market is estimated to be the largest application of the 3D printing in 2018. The aeronautics and aerospace segment is expected to have a significant growing trend over the coming years.
According to Grand View Research’s report, North America and Europe account for the major share in the 3D printing market. The demand from Asia Pacific is expected to witness significant growth over the coming years. Electronics is another major application of 3D printing and is expected to witness rapid growth because of increasing penetration in the electronic components manufacturing. Medical application is anticipated to witness the fastest growth on account of increasing demand for customized products such as hearing aids.
Growth in the potential applications for 3D printing materials
The aerospace and defense (A&D) industry were the early adopters of 3D printing, thus, materials like titanium, steel and others are witnessing increased demand from the aerospace sector. 3D printing grants the flexibility to produce complex equipment geometries which are otherwise complex to build while using traditional manufacturing.
The list of the current and potential applications of 3D printing materials market can be summarized as follows:
Application | Current application | Potential application |
Commercial aerospace and defense | Concept prototyping and modelling | Printing aircraft wings |
Printing low-volume complex aerospace | Printing repairs parts on the battlefield | |
Printing replacement parts | Printing complex engine parts | |
Embedding additively manufactured electronics directly on parts | ||
Space | Printing parts with minimal of material waste | Printing on-demand parts/spares in space |
Printing structures using lightweight, high strength materials | Printing large structures directly in space | |
Printing specialized parts for space exploration |
It can manufacture equipment with designs such as lattice structures and internal cavities, which significantly helps in the reduction of equipment weight without compromising overall performance. Furthermore, 3D printers produce less material waste than traditional machines and is expected to motivate manufacturers to utilize expensive aerospace materials including titanium.
Intensive research and development is expected to drive the market growth
Companies are making significant investments in R&D and production to address the increasing requirement of featured products across industries. Arcam introduced a new CoCr process which provides high resolution, high productivity and superior material properties. It can be used in orthopedic and aerospace industries.
Companies such as ExOne also added a new class of phenolic 3D printing binder called Cold Hardening Phenolic (CHP) to its suite of 3D printing binder offerings. The product offers better surface finish, improves process speed and is ideally suitable for aviation, automotive, pump and heavy equipment industries.
Mergers and acquisitions of the companies are strategized to benefit the company, either by the addition of distribution channels or to perform operations in different regions. 3D Systems signed into partnership with the U.S. Army Research Laboratory (ARL) in order to develop 3D printing materials and technology for various sectors including automotive, aerospace, medical and defense.
Manufacturers are trying to tap the emerging end-user markets across varied regions by opening new offices. Voxeljet AG entered into a joint venture with Suzhou Meimai Fast Manufacturing Technology Co. in order to enter Chinese markets.
Companies such as Materialise are ventured with other companies across the world to increase their distribution and sales network. Mobelife, a Materialise company, announced collaboration with Exactech Australia to expand their business in Australia.
About the Author
Senior Research Analyst Tejvir Singh has had over three years of experience in market research, business intelligence, consulting and strategy building. He works at Grand View Research in the Chemicals, Materials, Food & Beverage, and Energy domain. He holds a master’s degree in business administration from the University of Pune. He has worked on various projects related to 3D printing plastics and metals. He has been extensively involved in analyzing the investment feasibilities for various projects and has exhibited proficiency in the market competition analysis.
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I love that you touched on how there is a lot of flexibility when it comes to using 3D printers for your company. My brother is thinking about 3D printing a lot of products this fall for a local business. He needs to find the right parts to repair his printer though because it’s been malfunctioning lately.
Incredibly useful and detailed information. You are growing rapidly and it shows in your blogs.
Impressive! Thanks for sharing this.