Composite 3D Printing Market - Forecast(2024 - 2030)

Composite 3D Printing Market size is estimated to reach $4129.7 million by 2030, growing at a CAGR of 37.1% during the forecast period 2023-2030.  

The 3D printed composites market is a rapidly expanding industry that involves the production of composite materials using additive manufacturing technology. Composites are materials made up of two or more different materials that combine to form a new material with improved properties. Composite materials in the 3D printed composites market are made from a combination of reinforcing material (such as carbon fiber, glass fiber, or Kevlar) and a thermoplastic or thermosetting polymer.

Continued development of composite materials with superior properties fuels market expansion. High demand for complex, tailored components across industries drives adoption. Decreasing equipment and material costs make 3D printing more accessible and attractive.  Eco-friendly materials align with sustainability goals, spurring market growth. Quick prototyping and manufacturing capabilities meet industries time-sensitive needs. Automotive manufacturers utilize composite 3D printing for vehicle parts to enhance efficiency and safety. These factors positively influence the Composite 3D Printing industry outlook during the forecast period.

The “Composite 3D Printing Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Composite 3D Printing Market.

 

● The COVID-19 pandemic caused a decline in the Composite 3D Printing market due to Initial disruptions in supply chains and workforce availability affected production. However, the demand for lightweight, cost-efficient components spurred recovery as industries sought efficiency. The market growth is projected with increased adoption in medical supplies and aerospace for its flexible production capabilities. It is driven by adaptable production advantages and demand for innovative solutions in a post-pandemic world.

● The conflict between Russia and Ukraine has the potential to impact the Composite 3D Printing market due to supply chain disruptions. It has disrupted global supply chains, affecting the availability and cost of essential materials for 3D printing. This has led to challenges in sourcing composite materials, potentially increasing production costs. Geopolitical instability has introduced uncertainties in international trade, impacting market expansion strategies and partnerships. Furthermore, sanctions and export restrictions imposed on Russia have altered market dynamics, affecting the flow of technology and resources. Companies in the Composite 3D Printing sector are now navigating these complexities, emphasizing the need for diversified supply chains and localized production to mitigate geopolitical risks and ensure continued growth. 

●Fastest Growth of Asia-Pacific Region

Geographically, in the global Composite 3D Printing Market share, Asia-Pacific is analyzed to grow with the highest CAGR of 39.4% during the forecast period 2023-2030. The market is expected to grow as a result of rising infrastructure spending and innovative construction. The region's manufacturing sector is flourishing, with the automotive, aerospace, and electronics industries all-embracing 3D printing composites for various uses. In 2022, the sale of domestic passenger vehicles in India reached a record high and the nation sold 3.793 million, which is a 23.1% increase over the 2021. The rising R&D expenditures and rising consumer awareness of 3D printing technology market is anticipated to be driven for 3D printing composites in Asia-Pacific region. 

In the Composite 3D Printing Market analysis, the Carbon Fiber Composite segment is estimated to grow with the highest CAGR of 38.9% during the forecast period 2023-2030. Carbon fiber has several advantages over competing materials, including lightweight, increased strength and stiffness, and exceptional fatigue and corrosion resistance. Carbon fiber penetration is steadily increasing due to its superior properties and external market factors. High demand for lightweight components in structural applications to improve fuel efficiency or reduce carbon emissions is the primary growth driver of increased demand for carbon fibers in major industries such as aerospace and defense and automotive.

According to the Composite 3D Printing Market end use industry segment, the aerospace and defense sector  registered the largest market share of 37.5% during the year 2022. The aerospace and defense industries were early adopters of composite materials for a variety of applications such as body components, engine components, interiors, and so on. As per Statistics Canada 2022, nearly $18.7 billion worth of aerospace products were exported by Canada. Composites have the distinct advantage of lowering aircraft payload while improving the physical properties of aircraft components. The use of 3D printing technology has increased the efficiency of production of these components, with high precision output and low waste. 

Manufacturers in the electronics sector are utilizing composite 3D printing to fabricate components with enhanced functionalities, such as lightweight and durable casings, heat sinks with optimized designs, and intricate interconnects. Moreover, the additive nature of 3D printing allows for the integration of embedded sensors, conductive traces, and other specialized features directly into the printed components.

According to the Consumer Technology Association 2022, 5G technology has been incorporated into 73% of smartphones. This suggests that other technologies, like computers and televisions, will be upgraded to better support the estimated 1.5 million+ households with broadband 5G modems. Additionally, rapid prototyping facilitated by composite 3D printing accelerates the product development cycle in the electronics industry. This enables manufacturers to iterate designs quickly, test various configurations, and refine concepts before moving to mass production, ultimately reducing time-to-market. This is one of the major factors driving the growth of the Composite 3D Printing Market during the forecast period.

Thermoplastic polymers, photopolymers, and metal powders rank among the favored materials for 3D printing in additive manufacturing. Metal powders hold a significant presence in the manufacturing sector due to their dense packaging and spherical structure, enhancing flow characteristics. Across applications like non-critical aerospace components, orthopedic implants, and jewelry, metals like steel, titanium, nickel, and more, including precious metals such as gold and silver, find extensive use. As industries like automotive and aerospace increasingly embrace 3D printing, the demand for metal powders is on the rise. Nonetheless, readily available substitutes and their growing adoption might impede market expansion in the forecast period.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Composite 3D Printing Market. The top 10 companies in this industry are listed below:

1. 3D Systems Corp. (SLA 750)

2. Arkema SA (Rilsan® PA11)

3. AREVO Inc. (Aqua 2)

4. BASF SE (PA6 Line, PA 11 Line)

5. Cosine Additive Inc. (TECHMER ELECTRAFIL J-50/CF/10)

6. CORE Industrial Partners LLC (FDM, Poly Jet)

7. CRP Technology Srl (Windform® XT 2.0)

8. General Electric Co. (Concept Laser X Line 2000R)

9. EOS GmbH Electro Optical Systems (EOS M 290)

10. Graphite Additive Manufacturing Ltd. (Sinterworx C6, Sinterworx G4)

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