04-Jul-16 The global market for 3-D printing materials reached US$475.4 mln in 2015, and is expected to reach US$576.6 mln in 2016 and cross US$1.5 bln in 2021, registering a compound annual growth (CAGR) of 21.5% over the next five years, as per BCC Research.
Three-dimensional (3-D) printing, also called additive manufacturing, is the process of making a three-dimensional solid from a digital model by depositing successive layers of material in different shapes. Photopolymers accounted for the largest share of the market (59.8%) in 2015, but they comprise the slowest-growing segment, with a projected five-year (2016-2021) CAGR of 16.3%. As a result, this segment's market share should decline to about 47% by 2021. Meanwhile, thermoplastics should remain the second-largest segment, holding between 25 and 26% of the market during the forecast period. Ceramic, metals and other materials account for the rest of the market. The cost of 3-D printers continues to fall, with prices averaging US$20,000 just three years ago versus less than US$1000 in the current market. Some printers are currently being developed for under US$500, making the technology increasingly available to the average consumer. Thanks to the rapidly dropping cost of 3-D printers, the industry achieved a milestone of 500,000 units sold in 2015.
North America is the largest geographical market for 3-D printing materials, accounting for about 39% of the global market in 2015. The Asia-Pacific region should grow the fastest, at a projected five-year CAGR of 23.1% during the forecast period. This growth should expand that region's market share to between 32% and 35% during the forecast period. Meanwhile, Europe should experience somewhat slower growth than North America and Asia-Pacific. Consequently, its market share should drop slightly, from 19.3% in 2015 to 19.1% in 2021. Other markets also are expected to lose market shares, from about 10% in 2015 to 7% in 2021. The medical and dental sector is the largest end user of 3-D printing materials, accounting for over 25% of total global consumption in 2015, with a projected market share of 29% in 2021. Automotive products, the second-largest end users of 3-D printing materials in 2015, accounted for about 22% of the market, followed by consumer products with about 16%. "Consumer products are growing much faster than automotive end uses. With an anticipated five-year CAGR of 25.9%, this segment should become the second-largest end-user segment by 2021, with an anticipated 15.7% of the market," says BCC Research analyst Andrew McWilliams.
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