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The 3D-printed composite materials market is estimated to increase by USD 203.83 million between 2022 and 2027. The size of the market is forecast to grow at a CAGR of 24%. The growth of the market depends on several factors, including superior properties of composite materials, increasing adoption of additive manufacturing, and increasing demand in the aerospace sector.
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The reports categorize the global market as a part of the global specialty chemicals market. The parent global specialty chemicals market covers companies engaged in the manufacturing of various types of products under organic and inorganic chemicals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The superior properties of composite materials is notably driving the market growth, although factors such as the easy availability of substitutes may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Driver
The superior properties of composite materials is one of the key drivers supporting the market growth. These materials are lightweight, corrosion-resistant, and have high mechanical strength. Thus, they are increasingly used in the automobile and aviation industries for increased fuel efficiency. They can be customized and designed as per the application. Metals are increasingly replaced by these composite materials in the automobile, aerospace and defense, and marine industries, as they are corrosion resistant and help prevent corrosion caused by chemicals, moisture, and harsh weather.
In addition, composite materials exhibit other properties such as high impact strength, design flexibility, part consolidation, dimension stability, low thermal conductivity, and high durability. With such superior properties and advantages, the materials will be increasingly used in various applications during the forecast period.
Significant Market Trend
Increased demand for carbon fiber composites is another factor supporting the market growth. The demand for 3D-printed carbon fiber composites in the aerospace sector is increasing. Previously, carbon fiber composites were used mainly by the defense sector. Now, these materials are gaining traction in the commercial aerospace sector as well. This is because they help improve the fuel efficiency of automotive and aerospace vehicles and minimize fuel costs.
Moreover, the abrasion and stress-resistant properties of 3D-printed carbon fiber composite materials increase the lifespan of components. In the automotive sector, these composite materials are used in pickup boxes, interior headliners, and door modules. With the increasing global sales of personal cars and other automobiles, 3D-printed carbon fiber composite materials find extensive use in automotive door panels and seating applications. Such factors will drive the market during the forecast period.
Major Market Challenge
The easy availability of substitutes is one of the factors hindering the market growth. Thermoplastic polymer, photopolymer, and metal powders are some of the most preferred 3D printing materials in additive manufacturing. Metal powders are widely used in the manufacturing sector. They have high packaging density and spherical morphology, which improves flow properties. Steel, titanium, nickel, cobalt, copper, aluminum, and precious metals such as gold, platinum, palladium, and silver are the most widely used metals in 3D printing of non-critical aerospace products, orthopedic implants, jewelry, and critical aerospace parts, and surcharge fuel nozzles.
The demand for metal powders is increasing due to the rising use of 3D printing in industries such as automotive and aerospace. Thus, the increasing adoption of substitutes and their easy availability are expected to hinder the growth of the market during the forecast period.
Key Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
EOS GmbH - The company is a supplier of equipment, materials, and solutions in the field of laser sintering technology and a generative manufacturing method of 3D printing. The company offers 3D-printed composites such as Nylon 12 Carbon Fiber and ULTEM 1010 resin.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth of the carbon fiber segment will be significant during the forecast period. The use of carbon fiber in 3D printing offers more design flexibility, stronger parts, and the capacity to create intricate geometries. During the forecast period, the market for materials with carbon fiber is anticipated to expand significantly, largely due to rising demand from the aerospace and automotive industries.
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The carbon fiber segment was valued at USD 30.26 million in 2017 and continued to grow until 2021. In recent years, the materials using carbon fiber as a material have gained popularity. From structural components to consumer goods, this kind of composite material is now a practical choice for numerous applications. 3D-printed carbon fiber composite materials are being used in fields such as automotive, medicine, consumer electronics, and sporting goods. These factors are anticipated to augment the demand for carbon fiber as a material, which, in turn, will drive the growth of the market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, North America dominated the market. Increasing investments by governments and industry participants in additive manufacturing are fueling the development and adoption of 3D printers in the region. The increasing demand for 3D printing from the aerospace and defense, consumer electronics, and medical industries is contributing to the growth of the market in the region. North America is expected to witness increased adoption of 3D printing during the forecast period due to the presence of numerous global and regional aerospace and automotive manufacturers, such as Boeing and Ford Motor, in the region. Such factors will drive the demand in the region during the forecast period.
The Market is experiencing rapid growth fueled by advancements like the development of customized products and the reduction in manufacturing costs. Despite challenges such as process downtime, the high cost of materials, and lack of standard process control, the market thrives. Key materials like polymers, ceramics, and biocompatible materials are extensively used, along with innovative options like printed electronics. Industries such as energy, aerospace, and defense drive demand for industrial-grade materials like bronze and brass. FDM-based 3D printing media materials are prominent, despite concerns about uncontrollable process variables. With applications ranging from homes to offices and even high-end cars, the market caters to diverse consumer needs across economic sectors.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24% |
Market growth 2023-2027 |
USD 203.83 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
22.99 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3D Systems Corp., 3DXTech, AREVO Inc., Arkema Group, BASF SE, Cosine Additive Inc., CRP Technology Srl, General Electric Co., Graphite Additive Manufacturing Ltd., Hoganas AB, Koninklijke DSM NV, Markforged Inc., Sandvik AB, SLM Solutions Group AG, Solvay SA, The ExOne Co., Treed Filaments, EOS GmbH, Materialise NV, and Stratasys Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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