Currently, majority of the composite parts are made through highly labor-intensive manufacturing processes, which include hand layup, which results in lack of finishing leading to reduced applications in various industries. Composite industry has experienced many innovation and transformation in composite manufacturing process over last two decades. Industry such as automation are looking for shorter production time of composites and the process which reduces wastage during production. Here, 3D printing plays a vital role in delivering the customers’ expectation by making parts in lesser time with minimal wastage.
Use of composite materials in 3d printing is relatively low, however composite material is gaining popularity among researchers and industrial manufacturers. 3D Printing typically uses materials such as ABS, polyamide, polycarbonate etc. for prototyping and manufacturing components and parts. However, these materials lacks thermal, chemical and mechanical stability which is important for industrial application. Composites materials possess some superior qualities such as lightweight, high strength to weight ratio, chemical & thermal resistance, and stiffness which makes it suitable for various end-use industry such as automotive, aerospace & defense, electrical & electronics and others. The 3D Printing Composites Market has been segmented on the basis of type, end-use industry, and region.
In terms of type, polymer matrix composites accounted for approximately 50% market value share in year 2021 of the global market and is projected to maintain its dominance throughout the forecast period 2023 to 2030. Polymer matrix composites market is mainly driven by the huge demand for carbon and glass fiber composites for prototyping and tool manufacturing applications. Polymer matrix composites is followed by ceramics matrix composites which is mainly used in aerospace industry owing to its high fracture resistant capabilities.
In terms of application, aerospace & defense accounted for the largest share in terms of value in 2021. 3d printing composites are used to print aircraft parts and are also used in the interior of the aircrafts. However, electrical & electronics end-use industry is expected to witness the fastest growth during the forecast period. It is also estimated to be one of the largest consumer of 3d printing composites in 2023. The benefits offered by lightweight parts and functionally integrated components for aerospace and automotive industries has motivated the market players to shift from prototyping to production of parts and components using 3d printing technology.
In 2021, North America dominated the 3d printing composites market by region, accounted more than 30% of the market share, followed by Europe and Asia-Pacific. The U.S. is the largest national market for 3d printing composites. Factors such as growing competitiveness of the domestic manufacturing sector, huge investment in leading technologies has accelerated the growth of 3d printing composites in the country. Europe was the second largest consumer of 3d printing composites in 2021.
Major players operating in the 3d printing composites market are Advanc3D Materials, 3D Systems, EOS, EnvisionTEC, Stratasys, 3DXTech, Arvelo Labs, Cincinnati Incorporated, Graphene Labs, CRP Group, among others.
Polymer matrix composites segment was dominant in the global 3D printing composites market in 2021 and is anticipated to uphold its dominance over the forecast period from 2023 to 2030. Polymer matrix composites market is mainly driven by the huge demand of carbon fiber reinforced plastics from aerospace & defense, marine, transportation etc. owing to the high strength to weight ratio. Moreover, Carbon fiber possess superior qualities such as higher strength and stiffness, lightweight, corrosion resistance and so on. Carbon fiber offers advantages over other traditional material used in 3D printing technologies owing to its excellent properties allowing it to penetrate the 3D printing technology market. Also, increasing demand for lightweight materials to fabricate components for enhanced fuel efficiency or low carbon emissions in end-use industry such as aerospace & defense and automotive, is another aspect leading to overall market growth. Carbon fiber is followed by glass fiber accounted for second largest share of polymer matrix composite segment in 3D printing composites market by type in 2021. Since, glass fiber composites are more cheaper when compared to carbon fiber, electrically insulating and can be produced in bulk has resulted in huge demand from end-use industry such as aerospace & defense, transportation, wind energy, and construction & infrastructure, applications. Ceramics matrix composites was the second largest market in 3D printing composites market by type in 2021. Ceramics matrix composites is mainly driven by the demand from the end-use industry such as aerospace for high temperature application, automotive and medical. Metal matrix composites held the nominal share of 3D printing composites market in 2021.
By end-use industry, aerospace and defense segment accounted for the largest share in the global 3D printing composites market in 2021 and is expected to remain dominant over the forecast period. Rising use of 3D printed aerospace components that are lightweight and can handle high temperature driving the demand for 3D printing composites in this industry. 3D printing composites finds its uses in wide array of application in an aircraft such as ducting, vents, plenums, baffles, cable management, electrical housings, aircraft wings, engine parts, turbine parts etc. Moreover, features of 3D printing composites such as cost reduction, lightweight design and tool less production has accelerated the demand of these materials in aerospace and defense industry. Automotive is estimated to be the second largest end-use industry in 2023. 3D Printing composites are no more confined to prototyping applications in automotive industry. It is now being utilized in making functional parts for test vehicles, engines, and platforms. Leading automotive companies are now focusing on utilizing 3D printing technology for production of car parts and tools to enhance the overall manufacturing processes, which represents a major factor driving the growth of 3D printing composites in automotive industry. Automotive was followed by electrical and electronics and healthcare end-use industry in terms of market share in 2021.
Asia Pacific is projected to be the most lucrative and the fastest growing region in the global 3D printing composites market due to increasing demand for 3D printing composites from growing end-use industry such as automotive, healthcare and electrical and electronics. Moreover, government support for adopting 3D printing technologies, shift in manufacturing trend, investment by foreign players, and easy availability of materials are the few factors which further anticipated to bolster the 3D printing market, thus driving the Asia Pacific 3D printing composites market. North America is projected to dominate the 3D-printing composites market during the forecast period. North America is also one of the largest manufacturer of the advanced composites globally. Moreover, research & developments projects are undertaken by the 3D printing technology provider also favor the growth of 3D printing composites market in this region. Europe held the second largest share of 3D printing composites market in 2021. In Europe, Germany is estimated to accounts for largest share in 2023.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of 3D Printing Composites market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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End-Use
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
