Booming Automotive Industry Fueling Global Sales of 3D Printing Materials

Manufacturing firms are using 3D printing to explore opportunities offered by additive manufacturing. Production units are integrating additive manufacturing into their organization to yield faster and better results. Over the years, 3D printing has gained popularity in additive manufacturing, which was previously based on the subtractive process in which wasted raw materials are reused several times. For example, automotive production facilities use left-over metal sheets to develop metal plates to be reused for the manufacturing of other parts. However, in recent years, the usage of 3D printing materials has escalated, due to the growing adoption of 3D printing technology.

According to P&S Intelligence, the 3D printing materials market stood at $558.4 million in 2017 and it is expected to surpass $1,365.6 million by 2023. Educational institutions are using 3D printing to boost the cognitive ability of students and transform their ideas into physical form. This printing technology is enabling students to design basic 3D shapes, on laptops and tablets, and explore novel ideas. 



Moreover, the automobile industry is also using 3D printing materials in large quantity as 3D-printed vehicle components are lightweight and consume less energy during manufacturing process. This sector uses the 3D printing technology to design automotive parts that have complex geometries and are difficult to develop using conventional methods. With the booming sales of automobiles, especially in countries like India, Brazil, Indonesia, and China, the consumption of such materials will escalate in the coming years. 

Apart from the manufacturing, automotive, and education sectors, the aerospace and defense industry also uses 3D printing materials like plastics, ceramics, and metals to produce gigantic and complex parts. This is due to the growing adoption of 3D printing-integrating manufacturing technique in this sector. The industry mostly uses titanium to print prototypes or parts through 3D technique. Titanium is one of the most expensive substances used in production process of aircraft components. Additionally, these printing materials also find wide application in the production of consumer goods and medical and dental products.

Owing to the mounting demand for 3D printing materials from various sectors, market players like Stratasys Ltd., Formlabs Inc., Solidscape Inc., 3D Systems Corporation, The ExOne Company, EnvisionTEC GmbH, Royal DSM, and LPW Technology Ltd. are introducing several varieties of such products and 3D printing equipment. These companies are focusing on product launches and partnerships to expand their customer base. For example, EnvisionTEC, in February 2018, introduced Vida cDLM, a large, high-speed 3D printer to allow dental professionals to print 3D orthodontic models and mouth guards in reasonable time. 

Thus, the growth in the automotive, manufacturing, aerospace and defense, and education sectors will amplify the usage of 3D printing materials in the near future.

Source: www.psmarketresearch.com

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