The Global 3D-Printed Composites Market: Highlights
The global 3D-Printed composites market is projected to reach US$ 111.1 million in 2022. In the composites industry, 3D printing technology is relatively new and unheralded, footpath signs but it has now got successful in gaining ground, driven by an advancement in the 3D printing technologies, low part cycle time, an efficient process, compatibility with all possible material combinations, lower material wastage, and an organic growth of composite materials in the different industries.
Global 3D-Printed Composites Market by Composite Type:
The global 3D-Printed composites market is segmented based on composite type as continuous fibers and discontinuous fibers. The continuous fiber is projected to remain the most preferred composite type for 3D printing during the forecast period of 2017 to 2022. Discontinuous fiber-based composite is also gaining market traction because of its higher strength.
Global 3D-Printed Composites Market by Reinforcement Type:
The global 3D-Printed composites market is segmented based on reinforcement type as carbon fiber composites, glass fiber composites, and other composites. Carbon fiber is projected to remain the largest reinforcement type in the global 3D-printed composites market during the forecast period. This fiber type is also likely to witness the highest growth during the same period. Carbon fiber offers a wide array of advantages over competing materials, such as lightweight, higher strength and stiffness, and exceptional fatigue and corrosion resistance. The penetration of carbon fiber is incessantly increasing owing to its excellent properties and external market factors. High demand for lightweight components in the structural applications for improving fuel efficiency or reducing carbon emissions is the leading growth driver of the increased demand for carbon fibers in major industries, such as aerospace & defense and automotive.
Global 3D-Printed Composites Market by Technology Type:
The global 3D-Printed composites market is segmented based on technology type as extrusion, powder bed fusion, and others. The extrusion is expected to remain the most dominant technology for the fabrication of 3D-printed composite parts during the forecast period; however, powder bed infusion technology is estimated to grow at the highest rate during the same period.
North America is projected to remain the most dominant 3D-printed composites market during the forecast period. The region is also the largest manufacturer of the advanced composites globally. Additionally, many ongoing R&D projects favor the growth of 3D-printed composite parts in this region. Europe is likely to remain the second largest market for 3D-printed composite parts during the same period.
Stratasys Ltd., 3D Systems Corporation, Arevo Labs, MarkForged, Inc., Cincinnati Incorporated, Graphite Additive Manufacturing Limited, EnvisionTEC, and CRP Group are some of the well-known 3D printing research labs offering 3D-printed composite parts in the market. Development of an advanced technology, collaboration among composite stakeholders including 3D printers, and development of new applications are some of the key strategies adopted by major players to gain a competitive edge in the market.
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