To meet the challenges in producing complex objects and reduce material wastage and operational cost and time, industrialists are embracing additive manufacturing. Unlike traditional processes in which the material, such as a metal sheet, is first portioned into the required size and shape and then the scrap is brought together and formed into a new sheet, additive manufacturing adds the material layer by layer onto each other. This not only reduces material wastage and the time in reforming the scrap into the bulk material, but also allows for the manufacturing of more-complex products.
Thus, the market for 3D printing materials is forecast by P&S Intelligence to grow to $1,365.6 million by 2023 from $558.4 million in 2017, at a 16.7% CAGR between 2018 and 2023. This is because additive manufacturing is essentially 3D printing, which is accomplished by a 3D printer. First, the product to be created is designed on computer-aided design (CAD) software, after which slicer or slicing software converts the 3D image into instructions for the printer. Hence, with the increasing usage of 3D printing across industries, the demand for the various materials used for the process will grow.
 |
| To learn more about this report: https://bit.ly/3dq6uUF |
The categories under the type segment of the 3D printing materials market are metals, plastics, ceramics, and others, which includes stones, wood, marble, sand, edible materials, and waxes. Among these, the largest share during 2013–2017 (historical period), in terms of volume, was held by the plastics category, owing to the easy availability and cost-effectiveness of the material. In addition, the resistance to abrasion, shock, temperature, physical deformation, and chemicals, high versatility, durability, exceptional flexibility, and high elasticity of plastics are prized in several industries.
North America dominated the 3D printing materials market in 2017 due to its vast manufacturing industry and higher usage of additive manufacturing than other regions. In addition, the continent is home to the largest aerospace sector in the world, which has driven the adoption of the 3D printing technology since its emergence. During the forecast period, the highest CAGR in the market is projected to be observed by Asia-Pacific (APAC). This is ascribed to the increasing investments in research and development (R&D) by private companies and governments and rising demand for customized products.
Thus, as the manufacturing sector advances and embraces the additive manufacturing technology, it will require much more 3D printing materials than presently.
No comments:
Post a Comment