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Lucintel Anticipates Global 3d Printing Materials Market To Grow At A Cagr Of 18.2% During 2015-2020
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According to a new market report published by Lucintel, the future of 3D printing materials market looks strong with opportunities in medical, consumer goods and transportation industries. The global 3D printing materials market is forecast to grow at a CAGR of 18.2% from 2015 to 2020. The major drivers of growth of this market are rapid acceptance of 3D printing technology from prototyping, product designing, and concept modelling to final product manufacturing and development of advanced and unconventional materials. Due to greater competition, there has been a decrease in the price of 3D printers, and there have also been improvements in speed, quality, and expansion of applications, which are additional factors contributing to accelerated growth. Growth of further demand in key end-use industries, such as consumer goods, medical and transportation is expected to remain a key driving factor for the global 3D printing market.
In this market, photopolymers, thermoplastics, metals, ceramics, and other materials are used for 3D printing. Lucintel adds that the demand for metals in 3D printing is expected to witness highest growth in the forecast period supported by growing demand in end-part manufacturing. On the basis of its comprehensive research, Lucintel forecasts that medical and consumer goods industries are expected to show above average growth during the forecast period.
Within the 3D printing market, the medical industry is expected to emerge as the leading market by value and the second highest market by volume consumption after consumer products. The development of novel applications in medical industry is expected to spur growth for this segment over the forecast period.
North America is expected to remain the largest market due to growth in end use applications and wider acceptance of 3D printing technology in product manufacturing and mass customization. Asia Pacific and the rest of the world are expected to grow significantly by virtue of the growing awareness and access to 3D printing technology. Developed markets in NA and Europe will still be the largest region in terms of market share.
For market expansion, report suggests innovation and new product development, where the unique characteristics of 3D printing technology can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user. Emerging trends which have a direct impact on the dynamics of the industry include use of bio-inks and gels in medical industry and increasing use of composite materials. Stratays Ltd. 3D Systems, The ExOne Company, Arcam AB, and EoS Gmbh are among the major suppliers of the 3D printing materials. There are some companies, opting for M& A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global 3D printing materials market by application, material type, and region, and has come up with a comprehensive research report, “Global 3D Printing Materials Market 2015-2020: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a spring board for the growth strategy as it provides a comprehensive data and analysis on trends, key drivers and directions. The study includes forecast of global 3D printing materials market through 2020, segmented by end-use industry, material, and region as follows:
By end-use industry (Volume (Mil lbs / Kilo ton) and $ Mil shipment for 2009 - 2020):
• Consumer Products
• Other Industries
Material type (Volume (Mil lbs / Kilo ton) and $ Mil shipment for 2009 - 2020):
Region (Volume (Mil lbs / Kilo ton) and $ Mil shipment for 2009 - 2020):
• North America
• Asia Pacific
• Rest of World
This 173-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents contact Lucintel at +1-972-636-5056 or email@example.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Market Research Report and SWOT Matrix.
Lucintel, the premier global management consulting and market research firm creates winning strategy for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M & A and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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