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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.
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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 Materials Market Report Summary
Particulars
Details
Number of Pages
250
Format
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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The updated Obi Global Rideshare Report – First Half 2024 highlights significant trends and insights across both driver side and rider side, reflecting the industry’s evolution post-pandemic. Combining proprietary data with public sources, the report explores critical topics such as driver pay, price fluctuations, competition amongst providers, and the growth of green rides.
Key takeaways from the new Obi Global Rideshare Report – First Half 2024 include:
Inflation And The Rideshare Price Rollercoaster: In the last four years in the U.S. market, rideshare prices have spiked, dropped and leveled out. An illustration of how prices have increased: a ride on Uber in 2020 that cost $30 would have risen to $35 in 2021 and $37 in 2022. In 2023 prices dropped, and the same ride would have cost users $33. In mid-2024 that same ride is now $31.50. In the period between 2020 and 2022, prices spiked by 23% if you took an Uber and 32% for Lyft. This has now come down and prices are 4.5% higher than they were in 2020 for Uber, while Lyft prices are 8.1% higher. Consumers are paying more per ride in the last three years than in the ten years prior when VC funding fueled growth over profitability. Gas prices, inflation and the push for profitability have all impacted consumers.As consumer prices increase, driver pay drops: We found that drivers earn a smaller percentage of the ride fare than they had pre-pandemic in 2019. Uber pays 10.5% less on average to their drivers. Drivers have gone from earning 72.6% of the ride to 60.7% in the first half of 2024.Rideshare Prices Rose By Over 9% In A 12-Month Period Nationally: Over the 12 month period from July 2023 through June 2024, rideshare prices continue to increase. Uber’s prices increased over this period by 9.75% from $28.18 to $30.93 nationally in the United States. Lyft’s prices also ticked up by 9.8% from $28.17 to $30.93. Consumers continue to travel slightly farther, with average distance for a trip increasing from 11.06 km (6.87 miles) to 11.3 km (7.02 miles)Earnings Per Ride Grows In New York City: Both rideshare companies in the New York City market are making more per ride than they were pre-pandemic. In 2019 Uber’s average earning per fare in NYC was $1.80. It has increased by 250% and is $6.29 in the first half of 2024. In 2019 Lyfts’s average earning per fare in NYC was $4.11. It has increased by 38% and is $5.65 in the first half of 2024.Competition Among Rideshare Providers in London Keeps Prices Low: Unlike New York City, London’s prices have stayed relatively stable over the last several years driven largely by price competition between multiple rideshare companies. It’s 68% more expensive to take a ride in NYC than in London. London riders have more brand loyalty than other cities, with 22% of users choosing their preferred brand even when the price difference is as high as £5.Uber Underestimates Trip Duration. Data shows trip duration has a relatively minor impact on ride selection. However, Uber appears to indicate that the trip will take less time than its competitors in New York City a staggering 85% of the time, estimating that a trip will be between 4 to 5 minutes shorter than other rideshare providers.Weather Drives Surge Pricing Across Cities: Rainy weather is driving surge pricing across cities globally. We see a difference between 6% to 10% depending on the city. Cities like London and New York where rain is a regular occurrence experience the highest surge. Good news for riders in snowy weather, rideshare companies often lower their prices to attract riders.Consumers Need Incentives To Take Green Rides. Uber and Lyft have done an admirable job in increasing the number of green vehicles available to consumers in global cities. However, even though green rides have the same relative wait times and prices, consumers still choose the standard vehicle option if the wait time is as little as 1 minute longer or $1 more in price. 37% of consumers feel that green rides should be cheaper than regular rides. Overall, 10% of rides in New York are green while in Paris and London over 20% of rides selected are green rides. We credit this to European cities enforcing tougher regulations to mandate more green vehicles on the road.Eager for Driverless Cars. 77.5% of rideshare consumers say they are ready to use autonomous vehicles. Safety was the biggest concern of consumers who wouldn’t choose to ride in an autonomous vehicle.
The updated Obi Global Rideshare Report – First Half 2024 is available for download at http://rideobi.com/report2024.
About Obi:
Obi is a global real-time aggregator that compares millions of pricing and pick-up (ETA) data points, providing consumers and businesses with actionable insights. The free Obi app allows riders to compare taxis, black cars, and major rideshare providers instantly. With over 650,000 users, Obi partners with numerous rideshare and taxi providers worldwide to ensure transparency in ride fares. The app is available for free download on iOS and Android.
View original content:https://www.prnewswire.com/news-releases/new-global-rideshare-report—first-half-2024-obis-unique-datasets-uncover-new-rideshare-trends-302254566.html
SOURCE Obi
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