3D-Printing Composites Market Size, Share, Growth, And Industry Analysis By Type (Carbon Fiber, Glass Fiber, Others) By Application (Aerospace & Defense, Transportation, Medical, Consumer Goods, Others), Regional Insights, and Forecast to 2031

3D-Printed Composites Market Report Overview

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The global 3D-Printing Composites market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2028, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2028.

Making three-dimensional solid items from a digital file is a method known as additive manufacturing, sometimes known as 3D printing. Using additive methods, a 3D-printed item is produced. An item is constructed via an additive technique by adding consecutive layers of material up till the creation of the thing. You might think of each of these layers as a finely cut crosssection of the overall item. Complex forms may be produced with 3D printing with less material compared with traditional manufacturing techniques.  Although 3D printing, also known as additive manufacturing (AM), is still in its infancy in the composites sector, it has enormous potential in most industrial sectors, including aerospace and military and automotive. In comparison to current processes, the technology has a number of advantages, including a shorter part cycle time, effective part manufacturing, the ability to create variable geometries, reduced waste, a lack of expensive tooling requirements, and compatibility with all possible material combinations.

The current tendency is to use 3D printing to discover solutions for practical applications in aerospace and space manufacturing as a result of improvements in 3D printing technology. The aviation and aerospace sectors were among the first to use additive manufacturing Yet, the popularity of 3D printing is accelerating thanks to the space industry. AM is used for research and development in production. Moreover, technical development has facilitated the production of intricate, unique, and personalised components and even whole rocket engines; the space industry is leading the way for the future of 3D printing beyond Earth.

Production of aeroplanes is being revolutionised by 3D printing. To improve high-performance, mission-critical metal components and meet previously unheard-of part consolidation criteria for new-generation aircraft, aerospace original equipment manufacturers (OEMs) invested heavily in large-scale additive manufacturing (AM) machines and projects in 2021.

COVID-19 Impact: COVID-19 Pandemic Limited World Market Growth 

Global economies are on lockdown due to the COVID-19 pandemic. Global supply networks have been upended as a result, significantly disrupting commerce and other economic activity. The COVID-19 epidemic has, however, presented a chance for those involved in the 3D printing sector. Rapid construction of concepts and prototypes is possible with the aid of 3D printing technology. The use of 3D printing technology aids in bridging short-term supply gaps and resolving supply chain problems.

Due to supply problems by the component manufacturers, 3D printing technology has been extensively employed to produce essential medical components for treating patients with COVID-19. Face masks, face shields, mask adjusters, ventilator splitters, nasal swabs, hands-free door openers, and respirator parts are just a few of the components produced by 3D printing businesses. Several 3D printing firms are putting an emphasis on printing and offering the designs needed for medical equipment. For instance, Materialise created a 3D printed oxygen PEEP mask in April 2020 to address the growing ventilator shortage. Moreover, Stratasys Ltd. began developing face shields in May 2020 and has since distributed almost 100,000 of them, working with several small and big businesses. To aid doctors in treating patients with COVID, almost 1700 3D printing professionals created medical components. For a few months during the coronavirus epidemic, the AM industry's income was decreased. However, it swiftly recovered as a result of rising R&D demand and advancements in the 3D printing technology industries. Due to the interruption in the global supply chain caused by the COVID-19 epidemic, the manufacturing of 3D printing materials has suffered.

Latest Trends

"Market's Expansion Is Anticipated To Be Led By The Automotive Sector"

As they are today's primary form of transportation, automobiles play a crucial role in human existence. Globally, there are currently more than 1.3 billion motor vehicles on the road, and by 2035, that number is anticipated to increase to 1.8 billion. Passenger automobiles make up around 74% of these data, while the remaining 26% is made up of light commercial vehicles, heavy trucks, buses, coaches, and minibuses.

3D-Printed Composites Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Carbon Fiber, Glass Fiber, Others. Carbon Fiber is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Aerospace & Defense, Transportation, Medical, Consumer Goods, Others. Aerospace & Defense will be the dominating segment.

Driving Factors

"Usage Of Composite Materials Is Growing Increases The Demand For 3D Printing"

All types of aircraft and spacecraft, from passenger jets, combat jets, and the Space Shuttle to hot air balloon gondolas and gliders, employ composites because they are adaptable and may be used for structural purposes and components. Uses include whole aircraft like the Beech Starship as well as wing assemblies, helicopter rotor blades, propellers, seats, and instrument enclosures, all of which result in a considerable weight reduction and enhanced performance. Hence, the growing demand for 3D printed items has been influenced by the utilisation of composite materials.

"One Of The Main Factors Encouraging The Use Of 3D Printers Is The Rising Need For 3D Printed Components In Space"

By enabling astronauts to construct items in orbit, 3D printing might transform space travel. Basic goods like food or structures, as well as space and on-demand replacement components for repairs, specialised equipment for scientific studies. Despite the harsh climate of space and the lack of readily usable raw materials, there is a lot of dust drifting around. The use of 3D printing allows for the construction of solid objects out of tiny and agglomerated dust particles. The European Space Agency (ESA) may decide to 3D print a lunar colony, expanding the possibilities for the development of 3D printing.

Restraining Factors

"Limited Expansion Due To High Parts Cost And Materials Availability In 3D Printing"

Although 3D printing provides a variety of benefits for production, there aren't many raw materials that can be used. Considering that not all metals or polymers may be adequate temperature control to enable 3D printing. Moreover, very few of these printing materials are safe, and many of them cannot be recycled.

3D-Printed Composites Market Regional Insights

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"North America Likely To See A Significant Growth Rate "

In 2022, North America dominated the market and took home more than 33.34% of worldwide revenue. This is a result of additive manufacturing being widely used in the area. The U.S. and Canada are two examples of North American nations that were among the leading and early users of these technologies in a variety of manufacturing processes. Given its size in terms of geography, Europe is the largest continent. It is home to a number of industry participants in additive manufacturing that have extensive technical knowledge of the procedures. Hence, in 2021, the European market grew to become the second-largest regional market. The greatest CAGR is anticipated for the Asia Pacific area over the projection period. The advancements made in the region's industrial sector have contributed to the fast adoption of AM in Asia Pacific. Also developing as a manufacturing powerhouse for the healthcare and automotive sectors is the Asia Pacific area. Rapid urbanisation and a dominance on consumer electronics manufacturing are further factors boosting three-dimensional printing demand in the area.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP 3D PRINTING COMPOSITES COMPANIES

• 3D Systems Corporation (U.S.)
• EOS (Germany)
• Arevo Labs (U.S.)
• Markforged (U.S.)
• 3Dynamic Systems (U.K.)
• Stratasys (Israel)
• Cosine Additive (U.S.)
• Fortify (U.S.)
• Techmer PM (U.S.)
• 3DXTECH (U.S.)
• Mankati (China)
• Esun (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.