Focus on Material Wastage Reduction Propelling Demand for 3D Printing Materials

Manufacturing firms are using 3D printing to explore opportunities offered by additive manufacturing. Production units are integrating additive manufacturing into their organization to yield faster and better results. Over the years, 3D printing has gained popularity in additive manufacturing, which was previously based on the subtractive process in which wasted raw materials are reused several times. For example, automotive production facilities use left-over metal sheets to develop metal plates to be reused for the manufacturing of other parts. However, in recent years, the usage of 3D printing materials has escalated, due to the growing adoption of 3D printing technology.

Additionally, the rising integration of the 3D printing technology in the education sector will propel the 3D printing materials market at a CAGR of 16.7% during forecast period. According to P&S Intelligence, the market stood at $558.4 million in 2017 and it is expected to surpass $1,365.6 million by 2023. Educational institutions are using 3D printing to boost the cognitive ability of students and transform their ideas into physical form. This printing technology is enabling students to design basic 3D shapes, on laptops and tablets, and explore novel ideas.

Owing to the mounting demand for 3D printing materials from various sectors, market players like Stratasys Ltd., Formlabs Inc., Solidscape Inc., 3D Systems Corporation, The ExOne Company, EnvisionTEC GmbH, Royal DSM, and LPW Technology Ltd. are introducing several varieties of such products and 3D printing equipment. These companies are focusing on product launches and partnerships to expand their customer base. For example, EnvisionTEC, in February 2018, introduced Vida cDLM, a large, high-speed 3D printer to allow dental professionals to print 3D orthodontic models and mouth guards in reasonable time. 

In the coming years, North America is expected to register the highest sales of 3D printing materials, owing to the strong presence of established players and rapid growth in the usage of 3D printing technology. Moreover, rising adoption of this technology in the medical and dental sector will accelerate the usage of such materials in the region. However, the Asia-Pacific (APAC) 3D printing materials market will exhibit the fastest growth during the forecast period, due to the hefty investments in research and development (R&D) and supportive government policies regarding 3D printing technology. 

Thus, the growth in the automotive, manufacturing, aerospace and defense, and education sectors will amplify the usage of 3D printing materials in the near future.

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