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3D Printing Materials Market to Reach $11.08 Billion by 2031 – Growing Demand for Polymers in 3D Printing Applications and the Increasing Focus of Organizations on Product Development and Prototyping | Exclusive Report by Meticulous Research®

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REDDING, Calif., Sept. 23, 2024 /PRNewswire/ — According to a new market research report titled, ‘3D Printing Materials Market by Type (Polymers, Metals & Alloys, Ceramics & Composites), Form (Powders, Filaments, Liquids), Technology (FDM, SLS, SLA, MJF, EBM, Others), End User (Automotive, Healthcare, Others), and Geography- Global Forecast to 2031.

The 3D printing materials market is projected to reach $11.08 billion by 2031, at a CAGR of 23.8% from 2024 to 2031.

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Balancing Growth: Rising Demand and Innovation Drive the 3D Printing Market Amid Cost and Skill Challenges

The growth of this market is driven by the growing demand for polymers in 3D printing applications, the increasing focus of organizations on product development and prototyping, and government initiatives supporting the adoption of 3D printing technologies. However, the high costs of 3D printing materials restrain the growth of this market.

Furthermore, the application of 3D printing technologies in the education sector and enterprises’ increasing focus on hybrid material innovation are expected to generate market growth opportunities. However, the shortage of skilled professionals and limited material selection are major challenges impacting market growth.

Application of 3D Printing Technologies in the Education Sector

The use of 3D printing technologies in the education sector is expected to create growth opportunities for market stakeholders. 3D printing technologies help improve learning and skill development and increase student-teacher engagement. Also, working with 3D-printed models helps students improve creativity and solve complex problems with ease. 3D printing technologies improve students’ understanding by allowing them to physically touch and observe 3D-printed objects. Thus, the growing adoption of 3D printing technologies in the education sector is expected to drive the demand for 3D printing materials.

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Nowadays, educators have started implementing 3D printing technologies at all levels, from primary to secondary school. 3D printing technologies enable educators to provide students with accurate physical prototypes and, thus, practical, and hands-on knowledge, allowing them to understand scientific concepts. Many countries have started introducing 3D printing technologies in schools and universities. For instance, the Japanese Ministry of Economy, Trade, and Industry (METI) chose several universities and technical schools to subsidize two-thirds of their expenses toward introducing 3D printing technology. Also, following the U.S., Japan joined Britain and Australia in introducing 3D printing technologies in schools and other educational institutions.

Many universities and technical colleges have incorporated 3D printing modules and projects into various courses, such as engineering and applied sciences. The third-level 3D printing module focuses on building 3D printers from scratch and fabricating 3D models using various materials. 3D printing technologies thus aid visual and practical learning across sciences. 3D-printed components are often used as test models for scientific experiments in disciplines such as mechanical engineering, aerospace, and robotics. The use of 3D printers in public libraries helps improve knowledge exchange between learners. Also, university libraries have started maintaining dedicated makerspaces with 3D printers that can be used by all library members.

3D Printing Materials Market Analysis: Key Segmental Findings

By Type: In 2024, the polymers segment is expected to account for the largest share of 79.0% of the 3D printing materials market. However, the ceramics & composites segment is expected to register the highest CAGR of 31.8% during the forecast period 2024–2031.By Form: In 2024, the powders segment is expected to account for the largest share of 46.3% of the 3D printing materials market. However, the filaments segment is expected to register the highest CAGR during the forecast period 2024–2031.By Technology: In 2024, the Fused Deposition Modeling (FDM) segment is expected to account for the largest share of the 3D printing materials market. However, the Electron Beam Melting (EBM) segment is expected to register the highest CAGR during the forecast period 2024–2031.By End User: In 2024, the aerospace & defense segment is expected to account for the largest share of 25.0% of the 3D printing materials market. However, the industrial segment is expected to register the highest CAGR during the forecast period 2024–2031.

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Geographic Analysis:

Based on geography, the 3D printing materials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 36.3% of the 3D printing materials market.

The consumer goods market is among the largest markets in North America. In recent years, many companies in the consumer goods space have started using 3D printing technology to manufacture products ranging from personalized headphones to customized footwear, which is expected to drive the demand for 3D printing materials in North America. Many companies have started setting up 3D printing material manufacturing plants in the region to cater to this growing demand. For instance, ARMOR Group, a France-based company, has set up 3D printing material manufacturing operations near Cincinnati, U.S. The plant also manufactures plastic products, such as thermal transfer ribbons.

The growing use of various 3D printing technologies for manufacturing orthopedic, cranial, and dental implants, surgical instruments, and prosthetics for the healthcare industry in the region is boosting the demand for 3D printing materials.

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Furthermore, various local players in the 3D printing space are collaborating with A&D companies to develop 3D printing technologies for the manufacture of high-performance aerospace & defense components. For instance, in October 2023, 3D Systems, Inc. (U.S.) launched its MJP 300W 3D printer and VisiJet Wax Jewel Ruby material. Thus, technological advances are also expected to support the growth of the 3D printing materials market in North America.

In 2024, the U.S. is expected to account for the dominant share of 95.0% of the 3D printing materials market in North America. The country’s large market share is mainly attributed to the growing adoption of 3D printing technology in healthcare, automotive, and industrial, among other applications, and the increasing demand for 3D printing technology in the country’s aerospace industry to manufacture stronger and lighter aircraft parts and components.

Asia-Pacific: The Fastest-growing Regional Market

Asia-Pacific is projected to register the highest CAGR of 28.6% during the forecast period 2024–2031. In 2024, China is expected to account for the largest share of the 3D printing materials market in Asia-Pacific. The manufacturing sector in Asia-Pacific is developing rapidly, with a growing interest in new technologies for efficient production. Additionally, increased digitization is driving the adoption of 3D printers in industries such as consumer goods, construction, healthcare, electronics, and semiconductors. China, India, Japan, South Korea, and Singapore are some of the largest economies in this region, with significant potential for the adoption of 3D printing technologies due to the rapid increase in industrialization.

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Manufacturing companies’ growing interest in new technologies and increasing government support for technology adoption have boosted the utilization of 3D printing technologies and materials in the region’s manufacturing sector. Increasing digitalization in the region has also fueled the adoption of 3D printing technology across the consumer goods, healthcare, construction, and education industries in Asia-Pacific.

The high adoption of 3D printing technology in the healthcare industry has accelerated the production and utilization of 3D printing materials. For instance, in February 2024, Lithoz GmbH (Austria) established a technology network to advance ceramic 3D printing. The network will initially consist of three Japanese ceramic companies—AS ONE (Japan), Mitsui Kinzoku ACT (Japan), and Yugyokuen Ceramics (Japan).

Germany Continues to Dominate the 3D Printing Materials Market in Europe

In 2024, Germany is expected to account for the largest share of the 3D printing materials market in Europe. Germany’s large share is attributed to the growing adoption of 3D printing technology among the country’s automotive companies.

Need Insights on Regional Data? Check Out Our Detailed Analysis (Download Free Sample) – https://www.meticulousresearch.com/download-sample-report/cp_id=5083

3D Printing Materials Market: Competition Analysis

This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past 3–4 years. Major companies in the 3D printing materials market have implemented various strategies to expand their product offerings and global footprints and augment their market shares.

The key strategies followed by most companies in the 3D printing materials market include product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the 3D printing materials market include Markforged, Inc. (U.S.), Sculpteo (France), Stratasys Ltd. (U.S.), Evonik Industries AG (Germany), Zortrax (Poland), 3D Systems, Inc. (U.S.), Proto Labs, Inc. (U.S.), MATERIALISE NV (Belgium), The ExOne Company (U.S.), IC3D, Inc. (U.S.), Desktop Metal, Inc. (U.S.), EOS GmbH (Germany), Tethon3D (U.S.), Lithoz GmbH (Germany), and Formlabs (U.S.).

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3D Printing Materials Industry Overview: Latest Developments from Key Industry Players

In March 2024, HP Inc. (U.S.) launched a new polymer material, HP 3D HR PA 12 S, enabled by Arkema (France), establishing a new benchmark in surface finish with lower costs per part. The new PA 12 S material sets the standard for surface aesthetics while reducing costs for customers using HP’s Jet Fusion 5200 Series 3D printing solutions.In February 2024, Lithoz GmbH (Austria) established a technology network to advance ceramic 3D printing. The network will initially consist of three Japanese ceramic companies—AS ONE (Japan), Mitsui Kinzoku ACT (Japan), and Yugyokuen Ceramics (Japan).In October 2023, Desktop Metal, Inc. (U.S.) launched ETEC Pro XL, an industrial polymer 3D printer that delivers extreme accuracy, resolution, and surface finish in a large build area with high throughput speeds. Additional updates to ETEC Pro XL include a 4K ultra-high-definition projector and proven HyperPrint technology for continuous, isotropic printing.In March 2021, STRATASYS LTD. (Israel) launched the J5 DentaJet multi-material 3D printing system to enable dental professionals to load mixed trays of dental parts. The J5 DentaJet can handle up to five different materials and allows dental labs to manufacture several parts with multiple materials for partial denture applications or dental implant cases.In March 2021, Evonik Industries AG (Germany) launched a new ready-to-use PEEK filament for 3D printing industrial plastic parts. The high-temperature material called INFINAM PEEK 9359 F is compatible with extrusion-based 3D printing processes such as FDM and FFF. It is designed to replace metals in “infinite” industrial 3D printing applications.

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Scope of the Report:

3D Printing Materials Market Assessment—by Type

PolymersPhotopolymersPolyamide (PA)Polylactic AcidAcrylic Styrene Acrylonitrile (ASA)Polycarbonates (PC)Polypropylene (PP)Thermoplastic Elastomers (TPE)Other PolymersMetals & AlloysSteelTitaniumNickelAluminumCopperCobalt-ChromeOther Metals & AlloysCeramics & Composites

3D Printing Materials Market Assessment—by Form

PowdersFilamentsLiquids

3D Printing Materials Market Assessment—by Technology

Fused Deposition Modeling (FDM)Selective Laser Sintering (SLS)Stereolithography (SLA)Direct Metal Laser Sintering (DMLS)PolyjetMulti Jet Fusion (MJF)Digital Light Processing (DLP)Electron Beam Melting (EBM)Other Technologies

3D Printing Materials Market Assessment—by End User

Consumer Packaged GoodsElectronic AppliancesJewelry & Artistic ItemsOther Consumer Packaged Goods ApplicationsAutomotiveIndustrialEquipment & MachinesGoods & MaterialsHealthcareImplantsDentalMedical DevicesAerospace & DefensePrototypesBody & Spare PartsEnergyConstructionOther End Users

3D Printing Materials Market Assessment—by Geography

North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalySpainRussiaRest of Europe (RoE)Asia-Pacific (APAC)ChinaJapanIndiaSouth KoreaRest of Asia-Pacific (RoAPAC)Latin AmericaBrazilMexicoRest of Latin America (RoLATAM)Middle East & AfricaIsraelUAERest of Middle East & Africa

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3D Printing Plastics Market will reach $7.8 billion by 2031, growing at a CAGR of 23.2% from 2024 to 2031 – https://www.meticulousresearch.com/product/3d-printing-plastics-market-5950

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3D Printing Materials Market is projected to reach $11.08 billion by 2031, at a CAGR of 23.8% from 2024 to 2031 – https://www.meticulousresearch.com/product/3d-printing-material-market-5083

3D Printing PLA Market By Application (Consumer products, Automotive Parts, Industrial Applications, Healthcare, Aerospace & Defense, Others) And Geography – Global Forecast To 2027 – https://www.meticulousresearch.com/product/3d-printing-pla-market-5152

3D Printing Materials Market Report Summary

Particulars

Details

Number of Pages

250

Format

PDF

Forecast Period

2024-2031

Base Year

2023

CAGR

23.8 %

Estimated Market Size (Value)

$11.08 billion by 2031

Countries Covered

North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa (Israel, UAE, Rest of Middle East & Africa).

Key Companies

Markforged, Inc. (U.S.), Sculpteo (France), Stratasys Ltd. (U.S.), Evonik Industries AG (Germany), Zortrax (Poland), 3D Systems, Inc. (U.S.), Proto Labs, Inc. (U.S.), MATERIALISE NV (Belgium), The ExOne Company (U.S.), IC3D, Inc. (U.S.), Desktop Metal, Inc. (U.S.), EOS GmbH (Germany), Tethon3D (U.S.), Lithoz GmbH (Germany), and Formlabs (U.S.).

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Travertine Spa Atelier Collaborates with Osmo Labs and Christophe Laudamiel to Develop Luxury Perfume Utilizing AI

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November 15, 2024

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FULLERTON, Calif., Nov. 15, 2024 /PRNewswire/ — Travertine Spa Atelier, the luxury fragrance house is developing a new fragrance using the power of artificial intelligence (AI) in collaboration with the digital olfaction company Osmo.

It can take a year or more to create a fine fragrance. With Osmo’s cutting-edge AI technologies, the development process from concept to final creative wrap-up is reduced to several weeks. Travertine embraces AI for the benefits that it offers in fragrance formulation along with ethical rules that Travertine and Osmo do not compromise on.

“Touring the Osmo laboratories and seeing robots digitize scent left me speechless,” said Terry Carter, chief perfumer of Travertine. “The digital amalgamation of olfactive data and safety protocols does not hinder but rather assists my creative process. Our ethos is to combine indulgent ingredients with modern science. Collaborating with Master Perfumer Christophe Laudamiel and working with new fragrance molecules is a high honor.”

Travertine and Osmo are aligned to incorporate a global perspective and hinder biases of some AI data sets. The fragrance is inspired by an island in the Mediterranean sea. A rich cultural history, terroir, geographical influences, spices, sunshine and originality are elements of the fragrance concept brief.

“We are combining decades of human expertise and ground-breaking technologies from multiple industries. It is imperative that artists and scientists collaborate to discover new molecules and expand the art,” said Osmo Master Perfumer, Christophe Laudamiel. “Art development for thousands of years has always been enabled by scientific discoveries. Fostering education of the artists and the public also goes hand in hand with more grandiose art forms. We also walk that talk at Osmo in our collaboration with colleague perfumers.”

Perfumery is one of many facets of Osmo’s technological innovation.

“I am obsessed with smell and fully committed to digitizing our sense of smell,” said Osmo CEO, Alex Wiltschko. “Our solutions enable large corporations and a multitude of underserved smaller companies to achieve quality perfume design. The history-making technology of Osmo can be used for innumerable applications ranging from fragrance creation to the early detection of disease.”

The unisex fragrance is anticipated to launch in Spring 2025.

About Travertine Spa Atelier
Founded in 2004, Travertine Spa Atelier is a luxury lifestyle brand of high-quality skin care, body care and fine fragrance. We travel the globe for inspiration, ancient skincare rituals, and therapeutic body treatments to create a unique line of vitamin-rich, olfactorily-delicious botanical products. Travertine is favored by fragrance enthusiasts and those in the know. Travertine custom formulates fragrance for ultra-luxe resorts and multinational corporations and is a pledger of the Perfumery Code of Ethics. The Travertine Perfumery Workshop is a top-rated in-demand experience. Travertine Eucalyptus Steam Shower Sprays and products have been featured on major outlets such as FOX, NBC, ABC, Forbes, Bravo, and Extra.

About Osmo Labs
Launched in January 2023 with $60 million Series A funding led by Lux Capital and Google Ventures, Osmo fuses machine learning, data science, psychophysics, olfactory neuroscience, electrical engineering, and chemistry in a multi-disciplinary approach to digitizing scent. The company has begun work in the flavor and fragrance market to create a new generation of better, safer, environmentally-friendly scent molecules, breaking new ground in developing captives, designing scents through images and words, and teleporting scent. Osmo has also begun work in the commercial (authenticating products through scent) and public health (discovering new insect repellents) sectors, and expects to expand into others in the future.

For media inquiries: info@travertinespa.com and press@osmo.ai

 

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SOURCE Travertine Spa, Inc.

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Fraud Week 2024 shines a light on AI-driven deception, Nov. 17 – 23

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November 15, 2024

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SAS joins forces with the ACFE to explore the two-edged sword that is GenAI and showcases organizations using advanced analytics to get the upper hand

CARY, N.C., Nov. 15, 2024 /PRNewswire/ — Among the 13,500 people surveyed for SAS’ 2023 Faces of Fraud consumer fraud study, 7 in 10 reported falling victim to fraud at least once. Nearly 40% of the 16-country survey’s respondents reported two or more fraud experiences. To counter rampant AI-fueled scams, data and AI leader SAS again allies with the Association of Certified Fraud Examiners (ACFE) and hundreds of organizations worldwide to promote anti-fraud readiness and education throughout International Fraud Awareness Week, Nov. 17 – 23, 2024.

Preventing #fraud starts with awareness. Learn more & join the conversation online, Nov. 17-23. #FraudWeek

 “AI technology, and generative AI in particular, has proven incredibly dangerous in the wrong hands,” said ACFE President John Gill. “According to our most recent anti-fraud technology study with SAS, 83% of anti-fraud professionals anticipate adding GenAI tools to their defenses over the next two years. They’re forced to keep up in what’s become an escalating tech arms race with criminal enterprises – but it’s an uneven playing field because, unlike their adversaries, fraud fighters must use these technologies ethically and comply with regulations.”

AI vs. AI: using advanced tech to outmaneuver fraudsters
As generative AI continues to reshape the fraud and financial crime landscape, how can anti-fraud pros best position their organizations to foil spiraling criminal exploits? Join SAS and the ACFE for a Fraud Week webinar – open for the first time to ACFE members and non-members alike – where experts will discuss the evolution of GenAI and its growing role in fraud prevention and detection.

Fighting Financial Crime in the Generative AI Age
Nov. 21, 2024, at 10 a.m. CST (and available later on demand)

The webinar will explore current GenAI trends, future implications of the technology and how organizations can keep pace with accelerating innovation. Attendees will get guidance on how to:

Future-proof against GenAI threats in fraud.Utilize advancements and innovative solutions to reshape their anti-fraud programs.Establish trust and responsibility when implementing GenAI technologies.

“Banks, government agencies, insurers, merchants and other businesses continue to modernize with apps and digital offerings to match public demand – and in parallel, criminals are finding and exploiting weaknesses using increasingly sophisticated tools, particularly generative AI,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. “But as our customers are proving with their many fraud-fighting successes, even in this climate, establishing robust data ecosystems of digital data points and effective use of composite AI – AI aligned to a specific use case – can help organizations agilely adapt to evolving threats.”

Predicting real-time payment fraud with real-time analytics
Financial institutions have milliseconds to approve or deny an incoming transaction – a staggering task considering that total global credit card transactions alone averaged nearly two billion daily in 2023, the equivalent of almost 23,000 transactions per second. To quickly and accurately identify suspicious activity, digital payments service provider Nets (part of Milan-based Nexi Group) uses anti-fraud technology from SAS. 

Nets provides digital payment services used by over 740,000 merchant outlets and hundreds of banks. Critically, SAS’ AI capabilities enable the European paytech to continually improve its predictive fraud modeling to ensure that the millions of consumers it serves enjoy seamless – and safe – instant payments.

“With SAS Fraud Management, we can process massive amounts of data to identify unusual patterns and sift the fraudulent transactions from the authentic ones – all in real time,” said Jukka-Pekka Kokkonen, Head of Fraud and Dispute at Nexi Group.

“Because of the nature of this battle, it’s critical to constantly monitor fraud detection performance,” added Kokkonen. “The SAS solution … allows us to adapt as needed to battle changing threats in different regions of the world.”

Fighting claims fraud to deliver quality service and reasonable premiums
Since issuing its first policy in 1994, Quálitas MX has grown into the leading auto insurer in Mexico, serving nearly one-third of the market. It boasts more than 20,000 agents and provides coverage for more than five million vehicles. Remaining at the forefront of innovation and technology is an operational cornerstone outlined in Quálitas’ vision statement – and it is reflected in the company’s cloud-based approach to fighting fraud.

For more than a decade, Quálitas has relied on SAS Fraud Framework to detect and prevent claims fraud. The insurer is building AI models to better detect suspicious activity. Early and accurate fraud detection reduces losses, which helps keep premiums down while also expediting the payment of legitimate claims. Both are key factors in delivering quality service and nurturing customer loyalty.

“We have a lot of data in the company, a lot of transactions, and the challenge for us is to use that data to answer questions and make better decisions,” said Rene Abdala, Director of Strategic Planning at Quálitas. “SAS delivers a single view of our customers that helps us identify fraud and other risks. We also use SAS for optimizing pricing and to monitor KPIs across the company.”

Detecting fraud within seconds with real-time data monitoring
Techcombank is a Vietnamese joint-stock bank, serving nearly 14 million retail and corporate customers through its digital banking platform, mobile app and more than 300 branches nationwide. In Vietnam, more than 50% of digital fraud attacks target banks and financial firms, so identifying and preventing fraud is paramount.

Techcombank has implemented a proactive data monitoring system using an enterprise fraud solution from SAS, allowing employees to analyze customer behavior in real time. The results: enhanced fraud detection and prevention capabilities across multiple products and channels on a single platform. The bank slashed the time needed for fraud detection to mere seconds while also minimizing false positives.

“While many banks are reactive and may implement solutions only after fraud issues catch up with them, we made the decision to move early on this front,” said Joseph Vu, Director of Technology and Digital Risk Management at Techcombank. 

“With SAS, we consolidated our fraud detection and investigation while also assigning data authorization to the right specialists. We now act faster, more effectively and more precisely in our information sharing, reporting, business rule writing, triggering alerts and investigation.”

Uncovering noncompliance, tax avoidance and tax evasion
The Mediterranean island nation of Malta is in the midst of a three-year strategic plan to modernize the technology used to collect taxes and customs. The agency responsible – the Malta Tax and Customs Administration (MTCA) – uses SAS as part of those efforts to detect compliance issues and ensure that every citizen and corporation pays their fair share.

Noncompliance, tax avoidance and tax evasion cost governments about 10% to 20% of anticipated annual revenue – and in countries where enforcement is lax, those rates can be as high as 80%. Fixing the problem could yield millions in additional revenue. Using SAS solutions on SAS® Viya®, the MTCA can analyze real-time data, allowing for more effective monitoring and more timely interventions.

“Previously, we had an entirely manual process,” said Joseph Caruana, Commissioner for Tax and Customs at MTCA. “Now thanks to SAS advanced analytics and AI capabilities, audits are much faster and more effective, because they are based on cross-referenced data. … We are more effective because our decisions are data-driven and much timelier.”

Join the conversation online
For more customer stories, thought leadership and practical anti-fraud tips throughout the observance, follow #FraudWeek on Twitter/X and LinkedIn. You’ll find conversations and real-world guidance from SAS experts on payments fraud, identity and digital fraud, money laundering and financial crimes, claims fraud, unemployment fraud, health care fraud and cost containment, procurement fraud, and other fraud topics.

About SAS
SAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®. 

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved.

SAS Editorial Contacts:

Danielle Bates

Trey Whittenton

danielle.bates@sas.com

trey.whittenton@sas.com 

+1 919-531-1959

919-531-2250

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View original content to download multimedia:https://www.prnewswire.com/news-releases/fraud-week-2024-shines-a-light-on-ai-driven-deception-nov-17–23-302306806.html

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Technology

OnTrac Secures Agreement With Lenders To Accelerate Growth As A National Pure-Play E-Commerce Delivery Platform

Published

9 minutes ago

on

November 15, 2024

By

Liquidity created by the transaction enables OnTrac to advance operational and growth initiatives, strengthen its financial profile, and continue its expansion as the only last-mile alternative to the national carriers.

VIENNA, Va., Nov. 15, 2024 /PRNewswire-PRWeb/ — OnTrac Final Mile (“OnTrac” or the “Company”), a leading last-mile delivery e-commerce parcel carrier, today announced it has reached an agreement with more than 85% of the holders of its first and second lien term loans for a comprehensive financing and exchange transaction that includes new debt financing, extended debt maturities, and other liquidity enhancements. All existing OnTrac lenders will be offered the opportunity to participate in the transaction.

OnTrac is the largest last-mile delivery company in the U.S. outside of the national carriers, reaching over 70% of the population in two days or less. The Company has a footprint of 16 highly automated sort centers and nearly 100 branches across the U.S. and recently completed its expansion to the Midwest and South-Central regions. OnTrac continues to invest in its network and expand its geographies served and value proposition with customers, offering same-day delivery, 7-day delivery, and transcontinental shipping, with additional near-term service launches on the horizon.

“This transaction will strengthen our balance sheet and enhance our ability to help current and future customers to provide excellent service to their consumers,” said OnTrac CEO Mike Duffy. “We will continue identifying new opportunities for growth, expanding our geographic reach, investing in technology and automation to improve the customer experience, and completing the transition from a super-regional to a national carrier.”

Evercore Group LLC served as exclusive financial advisor and Weil, Gotshal & Manges LLP served as exclusive legal advisor to the Company.

PJT Partners Inc. served as exclusive financial advisor and Gibson, Dunn & Crutcher LLP served as exclusive legal advisor to the ad hoc group of lenders.

About OnTrac Final Mile
OnTrac is a leading last-mile delivery solutions provider, serving e-commerce retailers. Headquartered in Vienna, Virginia, the Company’s footprint stretches across the United States to reach approximately 70% of the population in 35 states and Washington, D.C. and enhance retailers’ ability to meet growing demand in the consumer e-commerce delivery market. OnTrac has evolved into a critical part of the e-commerce infrastructure and is trusted by leading retailers and shippers that desire reduced transit times and increased flexibility within their supply chains. Learn more at http://www.ontrac.com or follow us on LinkedIn, Twitter, YouTube, or Facebook.

Media Contact

Caroline Taylor, OnTrac, (703) 662-2215, mediarelations@ontrac.com, www.ontrac.com 

View original content:https://www.prweb.com/releases/ontrac-secures-agreement-with-lenders-to-accelerate-growth-as-a-national-pure-play-e-commerce-delivery-platform-302307018.html

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