Composite 3D Printing Market Size Worth $4129.7 Million By 2030: IndustryARC
Research Reports
Oct 09, 2023
Composite 3D Printing Market size is predicted to reach $4129.7 million by 2030, growing at a CAGR of 37.1% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. Growing demand for customized and complex designs and Increasing focus on lightweight components in industries like aerospace are fueling the growth of the Composite 3D Printing Market during the forecast period, finds IndustryARC in its recent report, titled “Composite 3D Printing Market Size, Share & Trends Analysis Report By Reinforcement Type (Carbon Fiber Composites, Glass Fiber Composites, Graphene and Aramid Fiber Composites and Others), By Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic Matrix Composites), By Composite Type (Continuous and Discontinuous), By Technology Type (Fusion Bed Infusion, Stereolithography, Material Extrusion Technology, Selective laser sintering and Others), By End Use Industry (Aerospace & Defense, Healthcare, Automotive, Transportation, Medical, Energy, Industrial and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030.”
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North America to Register Largest Market Share:
During the forecast period of 2023-2030, the North America region is expected to exhibit the largest market share of 38% in the global Composite 3D Printing Market. The market is expected to grow as a result of rising infrastructure spending and innovative construction. In 2022, the federal government allocated $94.5 billion to the states and spent $36.6 billion on infrastructure directly in the U.S. The region’s manufacturing sector is flourishing, with the automotive, aerospace, and electronics industries all-embracing 3D printing composites for various uses. The rising R&D expenditures and rising consumer awareness of 3D printing technology market is anticipated to be driven for 3D printing composites in North America region.
Composite 3D Printing Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2030 |
|
CAGR |
37.1% |
|
Market Size in 2030 |
$4129.7 million |
|
Segments Covered |
Reinforcement Type, Material Type, Composite Type, Technology Type, End Use Industry and Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Taiwan, Malaysia and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. 3D Systems Corp. 2. Arkema SA 3. AREVO Inc. 4. BASF SE 5. Cosine Additive Inc. 6. CORE Industrial Partners LLC 7. CRP Technology Srl 8. General Electric Co. 9. EOS GmbH Electro Optical Systems 10. Graphite Additive Manufacturing Ltd. |
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Composite 3D Printing Market Report – Key Takeaways:
- Glass Fiber Composites Segment is Leading the Market.
In the Composite 3D Printing Market analysis, the Glass Fiber Composite segment is having largest market share of 58.4% during the year 2022. The Glass Fiber Composites segment is anticipated to grow significantly in the composites market. This increase can be attributed to its special qualities, which include exceptional strength, lightweight features, and corrosion resistance. Glass fiber composites are becoming more and more popular in designing components for industries like automotive, aerospace, and construction that offer superior performance while reducing weight, improving overall durability and fuel efficiency.
- Healthcare sector is the Fastest Growing Segment in the Market
According to the Composite 3D Printing Market forecast, the Healthcare sector is analyzed to grow with the highest CAGR of 38.4% during the forecast period. 3D-printed composites are used in the production of personalized prosthetic limbs, tailored to meet the individual requirements of patients, offering a blend of lightweight design and durability. According to the Amputee Coalition, estimated that 185,000 amputations take place in the United States every year. A staggering 3.6 million people will be living with limb loss—the surgical removal (amputation) of an arm or leg—by 2050. Furthermore, these composites are instrumental in crafting bespoke surgical instruments, including guides, jigs, and fixtures, meticulously designed to conform to the unique anatomical characteristics of patients. This precision enhances the surgical process’s accuracy and efficiency.
- Growing Demand for Lightweight materials in aircraft is a Key Driver Enhancing the Growth of the Market.
Composites produced using 3D printing are ideal for use in aerospace, automotive, and other sectors where weight is a key consideration because they are light and have high strength-to-weight ratios. When creating and designing aircraft, engineering frequently chooses alternatives to lower fuel consumption and improve energy efficiency. By testing various high-strength and lightweight materials, the use of 3D printing techniques helps reduce the mass of aircraft. Reducing the mass of an aircraft is a practical way to improve energy efficiency and lower fuel consumption, as a lower mass requires less lift force and thrust during flight. For instance, a 20% weight reduction on the Boeing 787 led to a 10–12% increase in fuel efficiency. Industrial 3D printers are primarily used to create parts and components with little waste. By printing different components as needed, 3D printing technology also helps with the evaluation of lightweight materials.
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Key Opportunity Analysis:
Composite 3D Printing Demand is Increasing in the Construction Sector
The increasing demand for composite 3D printing in the construction sector, particularly the technology’s ability to efficiently fabricate complex and customized architectural elements has revolutionized the construction industry, enabling the creation of intricate designs and geometrically optimized structures that were previously challenging to achieve.
According to the Canadian Statistics, industrial construction investment increased by 5.4% in the fourth quarter of 2022, following four consecutive quarters of significant growth. The composite 3D printing allows for the use of sustainable and cost-effective materials, which align with the growing emphasis on eco-friendly construction practices and cost-efficiency. Additionally, the rapid construction capabilities of this technology reduce project timelines and labor costs, making it an attractive solution for builders.
Continuous research and development activities by researchers will create lucrative growth opportunities in the Composite 3D Printing Market.
Continuous efforts drive innovation in materials, processes, and applications, enabling the development of advanced composite 3D printing technologies. As researchers explore new composite materials and techniques, they expand the market’s capabilities across diverse industries, including aerospace, automotive, healthcare, and more. Moreover, breakthroughs in cost-effective and sustainable manufacturing processes further enhance the market’s appeal. Ultimately, ongoing R&D efforts foster a dynamic and competitive landscape, driving the adoption of composite 3D printing solutions and propelling market expansion.
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The Report also Covers the Following Areas:
- Composite 3D Printing Market Size and Forecast
- Composite 3D Printing Market Trends
- Composite 3D Printing Market Analysis by Type
Composite 3D Printing Market 2023-2030: Key Highlights
- CAGR of the market during the forecast period 2023-2030
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- Composite 3D Printing 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 Composite 3D Printing Market
Covid and Ukrainian Crisis Impact:
- The COVID-19 pandemic caused a decline in the Composite 3D Printing market due to Initial disruptions in supply chains and workforce availability affected production. However, the demand for lightweight, cost-efficient components spurred recovery as industries sought efficiency. The market growth is projected with increased adoption in medical supplies and aerospace for its flexible production capabilities and driven by adaptable production advantages and demand for innovative solutions in a post-pandemic world.
- The conflict between Russia and Ukraine has the potential to impact the Composite 3D Printing market due to supply chain disruptions. Disruptions in key supply chains for materials and components might lead to production delays and increased costs. Instability in the region could deter investors and hinder market expansion. Additionally, changes in trade dynamics due to geopolitical tensions could alter market trends and distribution channels, requiring careful monitoring and adaptation within the composite 3D printing industry.
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List of Key Market Players in Composite 3D Printing Market:
The key companies profiled in the Composite 3D Printing Market Report are listed below:
- 3D Systems Corp.
- Arkema SA
- AREVO Inc.
- BASF SE
- Cosine Additive Inc.
- CORE Industrial Partners LLC
- CRP Technology Srl
- General Electric Co.
- EOS GmbH Electro Optical Systems
- Graphite Additive Manufacturing Ltd.
- Koninklijke DSM NV
- Hoganas AB
- Cincinnati Incorporated
- 3DXTech
- Treed Filaments
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Composites Market – The Composites Market size is projected to grow at a CAGR of 5.8% during the forecast period. The growth of this market is mainly attributed by the high demand from the construction and infrastructure industry.
Composite Materials Market – The Nonwoven Geotextiles Market size is growing at a CAGR of 6.5% during the forecast period. It is due to their distinctive properties such as rigidity with high strength to weight ratio, high resistance to chemical and weather, stiffness and corrosion resistance, and compliance with the modern era trends such as ‘lightweighting strong materials,’ it has scored tremendous scope of application in several flourishing sectors including aerospace, construction, wind energy, and automotive.
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Contact Information:
Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518-282-4727
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