The 3D printing materials market size in terms of value is projected to grow at a CAGR of 20.4% between 2022 and 2031 to reach $1.052 million by 2031. North America held the largest share in 3D printing materials market in 2022. Major growth in the North American region is expected from the consumer & industrial application.
The World Integrated Trade Solution (WITS) of the World Bank recorded the United States to be the largest exporter of chemicals in the world, amounting for an export value of about USD 345.65 billion, followed by China with USD 158.75 billion worth of exports.
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Furthermore, there is an ever-increasing demand for chemicals that are more environment-friendly, backed with the imposition of stringent government regulations to control pollution on a global level. It is calculated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2022. On the other hand, estimations also show that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. This in turn, is projected to raise the in-flow of investments by market players for the development of new technologies to manufacture products with reduced toxicity.
The 3D printing materials market in North America is growing fast, mainly due to mass customization and adoption of 3D printers in home printing in this region. Jewelers, watchmakers, and other gadget companies generally operate in an economy of “mass customization” to reach out to customer requirements. The home printers are available in the market at low costs that has helped the consumer market to grow at a high rate.
New product launch was the most preferred strategy among the major players in the 3D printing materials market, globally. North America was the more preferred region for agreements from 2022 to 2031. More than half of the developments took place in North America in the said period. The major players are also enhancing their technological base, product portfolio, and geographical reach by acquiring other companies. For example, Stratasys acquired Interfacial Solutions (U.S.), Solid Concepts (U.S.) and Harvest Technologies (U.S.) recently. There were some more mergers & acquisitions in the 3D printing materials market.
Many companies, offering 3D printing materials, are actively trying to increase their product portfolio and regional presence to cater to different regional markets. These are trying to enter the low-penetrated markets in developing regions.
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The major players in the 3D printing materials market are 3D systems Inc. (U.S.), Stratasys Ltd. (U.S.), Oxford Performance Materials (U.S.), Arcam AB (Sweden), ExOne Gmbh (Germany), EOS Gmbh Electro Optical Systems (Germany). These companies showed significant presence among other players in the global 3D printing materials.
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