Topic Discussed : Global 3D Printing Materials for Transportation and Aerospace

Speakers : Sayan Mukherjee

Key Takeaways:

3D Printing or additive manufacturing is a rapidly growing technology in the automotive as well as aerospace industry. Although the level of adoption is different for both industries, OEMs across the industries are looping to implement 3D printing at different levels of the value chain. This research service focuses on different product segments such as plastic powders, photopolymers, plastic filaments, and metals. Plastic powders are further sub-segmented into polyamide, TPU, PEEK, and others. Plastic filaments are sub-segmented into ABS, polycarbonate, and others. Metals are sub-segmented into steel and non-steel. In terms of applications, the market has been fragmented into rapid prototyping, tooling, aftermarket, and production. 

Mega Trends: The global automotive and aerospace 3D printing materials market have witnessed exemplary growth in the recent past. 3D printing is likely to result in the emergence of local factories and is expected to enable decentralized production with more customized, local, and cheaper vehicle and parts solutions. The manufacturing business model is expected to shift from mega-factories to micro-factories. 

Rapid prototyping is by far the largest application for 3D printing in the automotive industry. Design freedom, quick turnaround time, and aesthetic part production are the few factors which exert major influence on the market penetration of 3D printing technology for rapid prototyping. Owing to the high material prices, mass production is not commercially viable at present. However, the prices are expected to rationalize over time, narrowing the cost-gap between conventional production and 3D printing technology. This will influence wider adaptation and propel volume growth. 

North America and Europe have traditionally lead the automotive 3D printing materials market in terms of demand and revenue, owing to the high R&D and presence of leading sports vehicle and luxury vehicle manufacturers, who lead demand. Europe is expected to be the most attractive region over the forecast period and lead regional demand in 2024. The Asia Pacific region is a nascent market at present, with substantial growth potential. However, this is a cost sensitive market, which somewhat restrains its potential in the present market condition

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Related Keywords: Frost&Sullivan, Additive manufacturing, 3D printing, rapid prototyping, tooling, after market, plastic powders, plastic filaments, photopolymers, metal powders, transportation

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