3D Printing Materials Market is Expected to Reach $USD 1.4 billion by 2020!
Rising demand for 3D printing technology in the manufacture of various products is expected to be one of the primary factors driving the 3D printing materials market. These materials are used extensively in various sectors such as consumer & electronics products, automotive and medical. Regulatory support to 3D printing from various governmental bodies is anticipated to boost the 3D printing materials market further. Furthermore, consumer access to 3D printing has increased due to the rise in the number of 3D printing service centers. Availability of low-cost printers has also propelled demand for 3D printing in personal use applications. However, high cost of these materials is expected to be a restraining factor for the growth of the market. Nonetheless, development of 3D scanning and printing technology is projected to open growth opportunities in the near future.
Plastics were the single largest product segment of the 3D printing materials market, accounting for over 48% of the market in terms of volume in 2013. Additionally, it is expected to be the fastest growing segment during the forecast period, due to rising demand for plastics from electronics & consumer products and printing market sectors.
Members like Bob Chapman at the 3D Printing Plastics Store are positioned well to take advantage of this news. “We want to be known as the best supplier of 3D Printing plastics in the industry.”