3D Printing Materials Market Size

3D Printing Materials Market Size

3D Printing Materials Market size surpassed USD 1 billion in 2022 and is estimated to register over 11% CAGR from 2023 to 2032. On the other hand, 3D Printing Equipment Market size amassed over USD 5 billion in 2022 and is slated to showcase over 17.5% growth rate during the same period.

The extensive utilization of 3D printing technology across the automotive and aerospace sector for a range of purely aesthetic and fully functional applications will augment the demand for 3D printing materials and equipment in the foreseeable future. The automotive industry has witnessed a massive boom in recent years attributed to ongoing vehicle electrification and the considerable rise in demand for commercial vehicles for passenger transport and logistics applications.

3D printing materials and equipment usually associate high upfront costs and have significantly higher energy requirements compared to injection molding techniques for melting plastic with heat or laser. These attributes make them unsuitable for small batch production runs, thereby, may downsize the market share during the projection period.
 

However, the 3D printing technology has evolved and become more widespread, the cost of 3D printing has decreased significantly, making it more accessible to businesses and individuals alike. Major factors that are contributing to the declining cost include improved technology, competition, availability of a wider range of materials, and scalability.