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According to the latest report by IMARC Group, titled "3D Printing Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global 3D printing materials market reached a value of US$ 1.91 Billion in 2021. Three-dimensional (3D) printing refers to the method of creating a physical object from a digital design. It includes laying down successive layers of materials, including metal, cement or plastic, until the object is formed using computer-aided design (CAD) software. Along with this, it involves the utilization of 3D printers that are integrated with precision tools to aid in the manufacturing of a 3D object from scratch. Since it utilizes less material and results in minimal wastage, it is widely adopted as a preferred alternative for traditional manufacturing processes. The demand for 3D printing is increasing due to its various advantages, including offering flexible designs and rapid prototyping using strong and light parts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global 3D Printing Materials Market Trends:
The global market is primarily driven by the rising product demand from the healthcare industry. Since 3D printing assists surgeons in better analyzing fractured patterns and conceptualizing fixation while allowing them to create effective medical instruments, this is providing a boost to the product demand across the globe. Moreover, the augmenting utilization of 3D printing materials for tissue engineering, regenerative medicines and bone regeneration is significantly supporting the market growth. In line with this, the widespread adoption of the technique in the manufacturing of drug delivery systems containing individualized and tailored dosages for patients belonging to different metabolism patterns is expected to drive the market. Besides this, numerous leading players in the aerospace industry are utilizing 3D printing for the fabrication of highly detailed visual prototypes of jigs and fixtures, surrogates and mounting brackets, which is further influencing the market. Other factors, including the growing environmental concerns among the masses, continual technological advancements and extensive research and development (R&D) activities conducted by key players, are also creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.67 Billion by 2027, exhibiting a CAGR of 18.60% during 2022-2027.
Market Summary:
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