3D Printed Composite Materials Market Size Worth $473 Million By 2030: IndustryARC
Research Reports
Oct 05, 2023
Global 3D Printed Composite Materials Market size is predicted to reach $473 million by 2030, growing at a CAGR of 22.7% during the forecast period 2022-2030 according to the latest market research report published by IndustryARC. The demand for Carbon Composites Materials in Aerospace & Defense and Healthcare & Transportation is driving the growth of the market, finds IndustryArc in its recent report, titled “3D Printed Composite Materials Market Size, Share & Trends Analysis Report By Technology Type (Material Extrusion Technology, Powder Bed Infusion, Others), By End-Use Industry (Aerospace and Defense, Automotive and Transportation, Consumer Electronics and Hardware, Healthcare and Hospital, Others), By Geography (North America, Europe, APAC, South America, Middle East and Africa) & Industry Forecast, 2022-2030”.
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North America is Leading the Market:
The 3D Printed Composite Materials Market industry in this region is holding the largest share of 42% in the market due to the rise in demand for lightweight materials, strength and durability within the residential sector.
North America is home to some of the world’s largest and most advanced aerospace companies, such as Boeing and Lockheed Martin. These companies are major users of 3D printed composites due to their high strength-to-weight ratio, which is critical for aerospace applications.
3D Printed Composite Materials Market 2023-2030: Segmentation
|
Attribute |
Segment |
|
By Reinforcement Type |
Carbon Glass Others |
|
By Technology Type |
Material Extrusion Technology Powder Bed Infusion Others |
|
By End-Use |
Aerospace and Defense Automotive and Transportation Consumer Electronics and Hardware Healthcare and Hospital Others |
|
By Geography |
North America (U.S., Canada and Mexico) Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) Rest of the World (Middle East and Africa). |
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3D Printed Composite Materials Market Report – Key Takeaways:
Powder Bed Infusion Segment Grows Rapidly
By Technology, the Powder Bed Infusion is estimated to grow with a double-digit CAGR during the forecast period. Firstly, this process offers significant cost savings over traditional manufacturing methods, particularly for small production runs or complex parts. Additionally, advances in 3D printing technology, such as improved print heads and materials, are making the process more efficient and reliable.
Material Extrusion Owns a Large Share
The demand for Material Extrusion in the 3D Printed Composite Material Market is estimated to grow with the highest CAGR of 58.1% during the forecast period. Material Extrusion 3D Printing Technology uses a continuous filament of a thermoplastic material or composite material filament as a base material for the construction of 3D parts. The demand for Material Extrusion s great demand of their Low cost per part, flexibility and good structural properties.
In recent years, this technique has been used to successfully extrude plastic materials like polyether ether ketone (PEEK) and polyetherimide (PEI), as well as paste-like materials like ceramics, concrete, and chocolate.
Noteworthy Growth in the Asia Pacific Region
Asia Pacific region held a major market share of 23.3% in 2022. Many countries in the Asia Pacific region have implemented favorable government policies to support the growth of the 3D printing industry. For example, China’s “Made in China 2025” plan includes significant investment in the 3D printing industry, while Japan’s “Society 5.0” plan is focused on promoting the use of advanced technologies such as 3D printing.
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Key Opportunity Analysis:
Construction Business is a Promising Industry
The use of 3D-printed composites in construction has the potential to revolutionize the industry, offering a range of benefits over traditional construction methods. Multimaterial 3D printing allows the creation of composite parts with unique properties, such as a combination of stiffness and flexibility.
This can be useful in construction for creating materials that can withstand both static and dynamic loads. The Multimaterial 3D Printing Market is growing rapidly with a CAGR of 18.1%.
The Medical Industry is Also Creating Opportunities for this Market.
3D-printed composites can be used to create custom prosthetics and implants for patients. These materials can be tailored to the individual’s specific needs and can be designed to mimic the properties of natural bone or tissue.
Surgical Instruments, Drug Delivery, and Tissue Engineering are some more applications that can open opportunities for the 3D printed Composite Materials Market.
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The Report also Covers the Following Areas:
3D Printed Composite Materials Market Size and Forecast
3D Printed Composite Materials Market Trends
3D Printed Composite Materials Market Analysis by Reinforcement Type
3D Printed Composite Materials Market 2022-2030: Key Highlights
CAGR of the market during the forecast period 2022-2030
Value Chain Analysis of key stakeholders
Detailed Analysis of market drivers and opportunities during the forecast period
Vinyl Flooring Market size estimation and forecast
Analysis and predictions on end users’ behavior and upcoming trends
Competitive landscape and Vendor Market Analysis including offerings, developments and financials
Comprehensive Analysis of challenges and constraints in the 3D Printed Composite Materials Market
Covid and Ukrainian Crisis Impact:
A decline in residential construction due to covid-19 pandemic due to fluctuations in the availability of raw materials and shortage of workforce significantly hampered the 3D Printed Composite Materials industry.
According to the U.S. Chamber of Commerce Study, about 85% of contractors faced delays in construction work in July 2020 due to the pandemic. The COVID-19 crisis in 3D Printed Composite Materials Market has affected the Global Supply Chain Relationships and Raw Material Price System
The Ukraine war has increased demand for lightweight materials, particularly in the defense and aerospace industries. 3D printed composites are lightweight and strong, making them an attractive option for these applications.
The ongoing conflict in Ukraine has created uncertainty and volatility in the global markets. This made it more difficult for manufacturers to make long-term investment decisions.
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List of Key Market Players in the 3D Printed Composite Materials Market:
The Global 3D Printed Composite Materials Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
Stratasys Ltd.
MarkForged Inc.
3D Systems Corporation
Arevo Labs
Cincinnati Incorporated
Graphite Additive Manufacturing Limited
CRP Group
3DXTech
Treed Filaments
Black Magic 3D
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Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-472
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