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HomeBusinessRising Demand for Customization Drives the Global 3D Printing Materials Market: Frost & Sullivan

Rising Demand for Customization Drives the Global 3D Printing Materials Market: Frost & Sullivan

27 October 2021: Frost & Sullivan’s recent analysis, Global 3D Printing Materials Growth Opportunities, finds that the global 3D printing materials market is projected to reach $3.18 billion by 2027 from $1.33 billion in 2020 at a compound annual growth rate of 13.3%. The market is driven by the growing acceptance and deployment of 3D printing technologies in product design and development functions.

In North America and Latin America, the market will remain high during the forecast period, driven primarily by the automotive and aerospace segments. Europe will be the second-largest contributor to the market with the increasing adoption of 3D printing in the automotive and healthcare segments. The demand for functional and design prototyping in the automotive, healthcare, consumer goods and industrial sectors will expedite market growth in the Asia-Pacific (APAC) Region, whereas hobbyists and universities will drive demand in Middle East, Africa and South Asia (MEASA) region.

“The market is shifting from mass production to mass customization as the demand for uniqueness, growth of eCommerce, and brilliant customer engagement strategies significantly accelerate the demand for customized products,” said Aditya Krishnan, Chemicals, Materials and Nutrition Research Analyst at Frost & Sullivan. “This trend is expected to create growth in end-use sectors such as automotive, healthcare, and consumer goods because they have immense potential to customize products.”

Krishnan added “The market for automotive 3D printing is expected to be driven by a mix of prototyping and small-scale manufacturing. Similarly, the healthcare industry is the ‘most customizable’ sector as its needs vary from patient to patient. In contrast, the aerospace industry is an early adopter of 3D printing and has used the technology in producing structural and functional parts.”

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