3D Printed Composite Materials Market, By End-Use Industry (Aerospace & Defense, Healthcare, Automo

Published Date: July 2020 | Report Code : MT2022159

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3D Printed Composite Materials Market, By End-Use Industry (Aerospace & Defense, Healthcare, Automotive, Others), By Composite Type (Carbon Fiber Composites, Glass Fiber Composites, Aramid and Graphene Fiber Composites), By Technology Type (Material Extrusion Technology, Fusion Bed Infusion, Others), By Region (North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2016-2028)

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Domain : Materials

Report Code : MT2022159

Status : Published July 2020

The 3D Printed Composite Materials Market size is estimated to be USD 91.3 million in 2020 and is projected to register a CAGR of 27.3% to reach USD 628.5 million by 2028. 3D printing or additive manufacturing (AM) is still at a very nascent stage in the composites industry, however the technology possesses huge opportunities in most of the industry verticals including aerospace & defense, healthcare, and automotive. The technology offers several benefits over existing processes, such as lower part cycle time, efficient part manufacturing, ability to create variable geometries, reduction in waste, no need for expensive tools, and compatibility with all possible material combinations. Composites have been replacing metals and other materials in number of applications with superior properties at comparatively lower weight.

3d Printed Composite Materials Market is a scientific process of making solid objects from a digital model of three-dimensional. 3D solid objects are made by laying different materials such as plastics, metal, and concrete layer over layer. Technological advancements in material science have led manufacturers and developers to discover the process and techniques of printing composites materials, which are mainly used in various urbane industries such as aerospace & defense, medical and automotive. Although the 3D printing composite materials market is small, it is expected to grow at a high rate during the forecast period. 3D printed composite materials offer superior performance to that of the conventional in terms of durability, strength, critical product manufacturing, less wastage and compatibility of equipment and other part and components. Continuous research and development activities by researchers will lead to the advancement of material engineering for reinforced thermoplastic materials, automation, development of software, and printers, which is expected to play a major role in the growth of the 3D printed composite materials market.

Key Factors Impacting Market Growth:

  • 3D printed composites materials provide good electrical, thermal, and mechanical properties such as flexural strength, durability, high stiffness and compatibility to that of other competing materials parts
  • Production of 3D printed composites materials/components are performed in moldless and without autoclave environment
  • Growing demand for composite materials, parts & components from aerospace & defence, automotive and healthcare industries along with the increasing R&D activities

3d Printed Composite Materials Market by Segmentation3D Printed Composite Materials Market by Segmentation

Currently, most of the composite parts are fabricated through labor-intensive/conventional manufacturing processes, such as hand layup, which places this versatile material behind in the race compared with other competing materials used in the mass-produced applications. Over the past two decades, the composites industry has experienced a sheer transformation in the development of manufacturing process in terms of automation; however, end-use industries such as automotive are still demanding further reduction in the overall cycle time of finished parts. At the same time, they are also looking for a process that curtails wastage during production. Here, 3D printing plays a vital role in delivering the customers’ expectation by making parts in lesser time with reduced wastage. The use of 3D printing technology for the development of composite based products has witnessed strong demand particularly for applications where price is not a key factor. On the other side, price is a key challenge for other applications.

3d Printed Composite Materials Market, Segment Analysis

3d Printed Composite Materials Market by Composite3D Printed Composite Materials Market by Composite

The 3D printed composite materials market has been segmented by composite, technology, and end-use industry. By composite this market is segmented by carbon fiber composite, glass fiber composite, and aramid & graphene fiber composite. The carbon fiber composite segment is estimated to register largest market demand in 2020 and projected to grow at highest CAGR of 28.3% during the forecast period. This segment registered a market shared of 53.4% in 2019. Increasing demand for carbon fiber materials in aerospace & defense applications is one of the key factors driving the market growth for this segment during the forecast period.

3d Printed Composite Materials Market by Technology3D Printed Composite Materials Market by Technology

By technology, this market has been segmented by material extrusion technology, powder bed infusion and others. The material extrusion technology is estimated to register largest market size in 2020 and CAGR of 27.1% during the forecast period. The material extrusion technology has been widely used across various applications with compatibility for 3D printing composite materials. Also, the material offering for this segment is wide making one of the most preferred technologies for printing composites. Powder bed infusion technology is relatively new and has been witnessing significant developments for applications of composite materials. This technology is projected to register highest CAGR of 28.4% during forecast period by value.

3d Printed Composite Materials Market by End User3D Printed Composite Materials Market by End User

On the basis of end-users, the 3D printed composite materials market is bifurcated by aerospace & defense, automotive, healthcare, and others. The aerospace & defense segmented has been one of the early adopters of composite materials for various applications including body components, engine components, interiors, and so on. Composites provide a strong advantage of reducing the payload of the aircraft with enhancing the physical properties of the aircraft components. With use of 3D printing technology, the efficiency of production of these components has increased with high precision output and low wastage. The aerospace & defense segment was estimated to register a market size of USD XX million in 2020 with a CAGR of  28.9% during the forecast period. Healthcare and automotive are other major segments for composite materials for applications including implants, and auto components respectively.

3d Printed Composite Materials Market by Region3D Printed Composite Materials Market by Region

Based on region, 3D printed composite materials segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, Middle East, and Rest of World. North America accounted for the largest share of 37.0 % of the global 3D printed composite materials market, by region in 2019. This market is valued at USD XX million in 2020 and is poised to grow at a CAGR of 28.0% during the forecast period to reach USD 243.65 million by 2028. However, Asia-Pacific expected to grow at highest CAGR of 28.9% over the forecast period.

3d Printed Composite Materials Market- DROC3D Printed Composite Materials Market- DROC

Key Developments:

  • In February, 2020, CRP Technology launched the first flame-retardant polyamide-based glass fibre reinforced material for Selective Laser Sintering (SLS). The product has some advanced properties such as electrical insulation and smoother surface owing to which it has suitable application in aerospace industry.
  • In June, 2019, Markforged Inc., one of the leading manufacturers of carbon fiber 3D printers, announced a partnership agreement with Shawcor Ltd., an energy service company based in Canada. Under this agreement Markforged Inc. will provide parts using composite 3D printing technology thta will cut cost and time for Shawcor Ltd.

Companies Covered:

The major companies that are covered in this study are Markforged, Stratasys Ltd., 3D Systems Corporation, Arevo Labs, Cincinnati Incorporated, Graphite Additive Manufacturing Limited, CRP Group, 3DXTech, Treed Filaments, Black Magic 3D, EOS, Prodways, EnvisionTEC, DWS Systems, and DeltaMed

Market Segmentation:

By End-Use Industry:

  • Aerospace & Defense
  • Healthcare
  • Automotive
  • Others

By Composite Type:

  • Carbon Fiber Composites
  • Glass Fiber Composites
  • Aramid and Graphene Fiber Composites

 By Technology Type:

  • Material Extrusion Technology
  • Powder Bed Infusion
  • Others

By Region:

  • North America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Middle East
  • Rest of the World

Reasons To Buy This Report:

  • Market size estimation and forecast of the global 3D printed composite materials market, in terms of value and volume
  • Demand and consumption of 3D printed composite materials market across regions, in terms of value and volume
  • Details micro and macros economic trend and forecast analysis of the leading composites consumers across the globe
  • Profiling of major companies operating in the global 3D printed composite materials market and their growth strategies
  • Key success factors in the marketplace, along with emerging market trends and opportunities

Customization:

We provide customization of the study to meet specific requirements:

  • Global 3D printed composite materials market, by country
  • Market share analysis of market players operating in the global 3D printed composite materials market

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