3D Printing Materials Market Worth $4.5 billion by 2025: MarketsandMarkets

According to the report “3D Printing Materials Market by Type (Plastic, Metal, Ceramic), Form (Powder, Liquid, Filament), Technology, Application, End-Use Industry (Automotive, Aerospace & Defence, Healthcare, Consumer Goods, Construction), And Region – Global Forecast To 2025,” the global 3D Printing Materials Market will be worth $4.5 billion by 2025, growing at a CAGR of 23.5% between 2020 and 2025.

The aerospace & defense end-use industry is estimated to account for the largest share of the 3D printing materials market in 2020.

Aerospace & defense is the major end-use industry in the 3D printing materials market. 

North America and Europe are the key markets due to the presence of the aerospace & defense industry and high demand for metal 3D printed metal materials. However, the demand for 3D printing materials is expected to witness sluggish growth in 2020 due to COVID-19 that has enforced lockdown across national and international borders. 

This has resulted in reduced wind capacity installations and the temporary suspension of operations in the automotive, aerospace, and construction industries.

Prototyping is the key application in the 3D printing materials market. The 3D printing materials market in the manufacturing application is projected to register the highest growth rate during the forecast period. This high growth of manufacturing application is attributed to the growing adoption of 3D printing in the aerospace & defense, automotive, and healthcare industries.

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. 

Also, 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.