Global 3D Printing Materials Market in Automotive Transportation, Forecast to 2024

Global 3D Printing Materials Market in Automotive Transportation, Forecast to 2024

  • February 2018 •
  • 131 pages •
  • Report ID: 5336314 •
  • Format: PDF
Market Set to Witness Strong Growth with High Double Digit CAGR Over the Forecast Period

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. End-user segments are represented by passenger cars/LCVs, HCVs, and Luxury & Sports vehicles.

Major market drivers and restraints, regional demand outlooks, application growth trends, and product trends are also discussed. Unit shipment and revenue forecasts have been provided for each segment from 2014 to 2024, the base year being 2017.

Mega Trends: The global automotive 3D printing materials market has witnessed exemplary growth in the recent past. 3D printing, alternatively known as additive manufacturing (AM), 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. At present, the high material and machinery costs coupled with slow printing speed acts as a deterrent to large-scale manufacturing. However, the material price is estimated to decrease exponentially as quantities increase.

Lower material as well as machinery costs will lead to lower production costs, thereby providing impetus to the market. As cost related challenges are overcome in the market, the industry will see wider adoption.

Influencing Factors: 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.

Regional Trends: 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.