The Global 3D printing material market is estimated to grow to USD 1.85 Billion by 2024 from USD 0.79 Billion in 2017 with CAGR of 19.3% during forecast period (2018-2024). 3D printing is a new technology that has a capacity to modify the manufacturing sector.
The Global 3D printing materials are evolved from 3D printing technology. The 3D printing technology have been embraced by prime consumer industries owing to design flexibility, little wastage and environmentally friendly properties together with many properties.
The 3D printing technology is used in various applications like Automobiles, Aerospace, Defence, Medical and consumer goods, so the demand is enormously high.
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In Health care, powder bed fusion plays a major role
The 3D printing technology is used to manufacture a large variety of medical devices with a complex geometry. The products like surgical equipment, dental, tissue engineered products and implants can be manufactured through 3D printing machines accurately and in a large scale.
With current betterments in bio printing approaches of the 3D printing technology, human organs may as well be printed. The most commonly used technology in 3D printing medical devices is powder bed fusion as it works with a variety of materials used in medical devices such as titanium and nylon.
On the basis of the material, metal holds the largest share
Metals accounts the largest share in the market due to its strength and Durability .It is the most preferred material in automotive, defence and aerospace. Generally titanium is the highest strength material used in 3D printing tools, jewellery, spare parts and army weapons.
North America is expected to hold the largest market for Global 3D material in 2024
Global 3D material market has the largest share in North America due to the demand for different variety and complex shaped products. Germany holds a major market due to the demand for 3D printing technology in Aerospace and defence sectors.
The market of Global 3D materials in different countries like China, Japan and South Korea are increasing promptly due to the adoption of 3D printing technology in different sectors.
The vital players in the global 3D printing material market are Stratasys Ltd., Royal DSM NV, CRP Group, Concept Laser GmbH, EOS GmbH Electro Optical Systems, 3D Systems, Inc.
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• Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
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• Year on Year basis generation of revenue is studied.
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