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3D Systems (US) and Stratasys (US) are leading players in 3D Printing Materials Market

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3D Systems (US) and Stratasys (US) are leading players in 3D Printing Materials Market

April 02
12:56 2021
3D Systems (US) and Stratasys (US) are leading players in 3D Printing Materials Market

Browse more than 207 market data tables and 54 Figures spread through 218 Pages and in-depth TOC on “3D Printing Materials Market”
3D Printing Materials Market by Type (Plastic, Metal, Ceramic), End-Use industry (Automotive, Healthcare, Aerospace & Defense, Consumer Goods, Construction), Form (Powder, Filament, Liquid), Technology, Application, and Region

The global 3D printing materials market size is estimated to grow from USD 1.6 billion in 2020 to USD 4.5 billion by 2025, at a CAGR of 23.5% between 2020 and 2025. 3D printing has been regarded as one of the major disruptive technologies of this century, transitioning from prototyping to a potential production method across various industries. 3D printing, also referred to as additive manufacturing, is expected to have a positive impact on various end-use industries such as aerospace & defense, healthcare, automotive, and consumer goods, to name a few. However, amidst the global COVID-19 pandemic, the demand for 3D printing materials from the industries mentioned above is expected to show relatively slower growth in 2020.

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North America is expected to dominate the 3D printing materials market during the forecast period due to the substantial adoption and manufacturing of products based on 3D printing technology. The increasing demand from the aerospace & defense, medical & dental, and automotive end-use industries in North America are also driving the market in the region. In addition, strong support from the governments for 3D printed goods over conventional goods and the presence of key manufacturers in the region are expected to drive the market further. But, because of the lockdown situation occurred due to COVID-19, many floor workers are unable to work in manufacturing facilities, which has resulted in the reduction in output across the aircraft and car manufacturing facilities. Thus, the market for 3D printing materials will grow at a slower rate in 2020 in comparison to the previous year.

The major 3D printing material manufacturers are 3D Systems (US), Stratasys (US), Arkema SA (France), Materialise NV (Belgium), Evonik Industries (Germany), and General Electric (US). These players have adopted various growth strategies such as acquisition and new product launch to expand their presence in the global market. New product launch and joint venture & partnership were the dominant strategies adopted by the major players, between 2014 and 2019, which helped them to offer innovative products and broaden their customer base.

Stratasys Ltd. has a prominent presence in the 3D printing materials market. The company has a strong brand image, and it caters to the growing demand for 3D printing materials in major applications. It opted inorganic and organic growth strategies through launching new PEKK-based high-performance thermoplastic material, namely, Antero 800NA and through collaboration with Team Penske (US). The company mainly focuses on R&D activities to maintain its comprehensive portfolio of 3D printing products that have significant growth potential.

3D Systems Corporation has secured a strong position in the North American market. It is also establishing its presence in Latin America and MEA and is now focusing on APAC. The company is a strong market player in the functional materials & solutions business segment. It has a strong focus on R&D and has acquired Vertex Global Holding B.V., which provides dental material through its Vertex and NextDent brand. Additionally, 3D Systems Corporation is highly engaged in adopting organic growth strategies to remain competitive in the 3D printing materials market. For instance, the company launched 30 new materials that are useful in automotive, durable goods and jewelry applications.

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