Material Jetting (MJ) Market Size, Share, Growth, and Industry Analysis, By Type (Polymer Jetting, Metal Jetting), By Distribution (Medical, Jewelry, Industrial Tools, Automotive), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

MATERIAL JETTING (MJ) MARKET REPORT OVERVIEW

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The global material jetting (MJ) market size was USD 85 million in 2019 and market is projected to touch USD 161.21 million by 2032 at CAGR 5.0% during the forecast period.

Furthermore, because to its increasing popularity in the healthcare sector, the market has the potential to rise significantly. Demand for the technology is being driven by the capacity to create complicated, patient-specific models for medicine, implants, and surgical equipment with exact dimensions and complexity. Furthermore, increasing efforts to conduct research and development in the area of 3D printing are adding to market growth.

Advances in 3D printing technology, a growing use of additive manufacturing (AM) across many industries, and increasing requests for customized and sophisticated goods are among the latest developments in the worldwide material jetting (MJ) market. The advancement of effective MJ methods, including as multi-material as well as multi-level printing, is making it easier to create complicated structures and working prototypes. Furthermore, the incorporation of machine learning and artificial intelligence improves accuracy as well as precision in MJ operations. The market is also seeing the rise of environmentally friendly and environmentally friendly 3D printing materials, owing to the increased emphasis on conservation of the environment and sustainability.

COVID-19 Impact: Need of Adaptable and Rapid Manufacturing Processes to Uplift Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 outbreak caused a worldwide lack of medical supplies, leaving many countries scurrying for supplies. The need of adaptable and rapid manufacturing processes was underlined by COVID-19 crises, and 3D printing techniques such as material jetting (MJ) attracted attention for their capacity to rapidly manufacture prototypes, medical equipment, and other necessary supplies. As a result, certain businesses and healthcare organizations have turned to 3D printing techniques such as material jetting (MJ) along with additional 3D printing processes to swiftly prototype and build complicated and customized objects which advanced the material jetting (MJ) market growth.

LATEST TRENDS 

"Incorporation in Dental and Medical Equipment to Stimulate Market Development "  

The material jetting (MJ) sector has a promising future. The technology has various benefits, including fast printing, great precision, and the capacity to print multi-material things. Because of these characteristics, MJ is appropriate for an extensive variety of applications, including dental and medical equipment, parts for aircraft, and consumer products. The capacity to print items with different material qualities opens up new possibilities for making bespoke products.

MATERIAL JETTING (MJ) MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into polymer jetting, metal jetting.

Polymer Jetting: Material jetting (MJ) constitutes an additive manufacturing process that produces 3D printed things using inkjet-based deposition. The Polymer jetting industry includes the application of liquid photopolymer substances that have been jetted layer by layer onto a construction platform and then fixed using UV light. This allows for the production of extremely detailed and precise prototypes or end-of-life parts.

Metal Jetting: Metal Jetting, on the other hand, uses a similar inkjet-based method but with metal particles suspended in a binder substance. Following the removal of these binders, the remaining metal bits are melted down to form final metal components.

• By Application

Based on application the global market can be categorized into medical, jewelry, industrial tools, automotive.

Medical: Material jetting (MJ) constitutes a 3D printing process with numerous applications in a variety of areas. MJ enables the manufacturing of accurate and tailored surgical instruments and implants in the medical business.

Jewelry: It enables the development of elaborate and detailed designs in the jewelry industry.

Industrial Tools: Industrial tools gets profit from MJ since it allows for the rapid and cost-effective production of complicated parts.

Automotive: MJ is also utilized in the automotive industry for prototyping and manufacturing lightweight components, which results in improved efficiency and reduced emissions.

DRIVING FACTORS

"Increment in the Consumer Purchasing Power to Support Market Expansion  "

Material jetting services using stainless steel, aluminum, and other metals are commonly used to enhance the durability as well as strength of items such as cellphones, computers, and other electronic devices. People's increased purchasing power for electronics and other variations is fueling the industry's expansion. As a result of these factors, the market is expected to have the greatest share.

"Advances in Automated Reasoning to Foster Industry Progress     "

Digitization is being propelled by new web of things (IoT) enabled gadgets, as well as advances in automated reasoning (artificial intelligence) and cloud-based administration. Businesses are using binder jetting alongside additional innovations such as IT in the modern digital age to respond to evolving customer habits and information patterns. Furthermore, the introduction of Industry 4.0 is going to boost the need for solutions in several regions.

RESTRAINING FACTOR

"Restricted Material Alternatives to Stop Market Evolution   " 

The market, on the other hand, may experience hurdles because to high costs and restricted material alternatives. The expense about MJ printers and components remains very high, rendering them unsuitable for businesses of any size. Furthermore, the accessibility of a limited selection of materials in comparison with other 3D printing techniques may stymie market expansion.

MATERIAL JETTING (MJ) MARKET REGIONAL INSIGHTS

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"North America Force over the Market Owing to Rapid Urbanization "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The North American market regarding jetting technology has profited from the region's rising industrial development, as well as different driving factors that have boosted the potential sectors, as the area is the biggest consumer of the product. One of the significant factors driving the rise regarding the material jetting (MJ) market share has to do with increasing demand for products in the industrial parts, aerospace, car, medical, and model mold sectors. Rapid urbanization will raise the whole market even further.

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.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Stratasys (Israel)
• 3D Systems (U.S.)
• Keyence (Japan)
• HP (U.S.)
• Vader Systems (U.S.)

INDUSTRIAL DEVELOPMENT

July 2023: Desktop Metal is a key player within the material jetting printing (3D printing) sector. The company, which was founded in 2015, has swiftly established itself as a pioneer in 3D printing with metal by utilizing the material jetting technique. It provides a variety of material jetting printing devices, including the Studio System as well as Production System, to meet the needs of diverse customers. Since its introduction, Desktop Metal has seen substantial market expansion, attracting investments from industry titans such as Google, BMW, and Ford.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.