The new report by Expert Market Research titled, ‘Global Biocompatible 3D Printing Materials Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the biocompatible 3D printing materials market, assessing the market supported its segments like product type, application, end-user and major regions.
The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 20%
One of the major factors driving the growth of the biocompatible 3D printing materials industry is the growing preference for additive manufacturing. The growing demand for silicone in additive manufacturing is expected to boost the industry, as it allows for more product design flexibility due to its sustainable and biocompatible nature.
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In the global market for biocompatible 3D printing materials, the powder is the leading segment. Because the powder form works with so many 3D printers, it’s used in medical applications like implants and prostheses, tissue engineering, and surgical tools. Because of its chemical resistance and flexibility, silicone is becoming more popular as a raw material for additive manufacturing of medical products.
The use of biocompatible 3D materials also reduces assembly time and material waste, lowering component production costs. This, combined with increased R&D investment to develop other advanced biocompatible 3D printing materials, is expected to have a positive impact on the market during the forecast period.
Industry Definition and Major Segments
Biocompatible materials often include metals, polymers, composites, ceramics and others play a pivotal role in additive manufacturing. Compared to the conventional methods, biocompatible 3D printing is more efficient and is eco-friendly. The biocompatible 3D printing materials industry can be segmented into categories like type, application, and form.
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Based on type:
Polymer
Metal
Others
Based on application:
Implants and Prosthesis
Prototyping and Surgical Guides
Tissue Engineering
Hearing Aid
Others
Based on form:
Liquid
Powder
Others
Based on regional markets, the segmentation of the biocompatible 3D printing materials industry includes
North America
Europe
The Asia Pacific
Latin America
The Middle East and Africa
Market Trends
In the automotive industry, 3D printing materials are widely used to create scaled models for testing. Some of the parts that use 3D printing materials are bellows, front bumper, air conditioning ducting, suspension wishbone, dashboard interface, alternator mounting bracket, battery cover, and other components.
3D printing materials are being used by automotive OEM manufacturers for rapid prototyping. Automobile manufacturers are moving toward the use of 3D printing because of its advantages, such as low cost, shorter manufacturing time, less material waste, and so on.
These materials are used by some of the world’s largest automotive manufacturers, including AUDI, Rolls-Royce, Porsche, Hackrod, and many others, to manufacture spare parts and metal prototypes.
Because of the decreased demand for automotive fibres, the current slowdown in global automotive production has impacted the market for polyester staple fibre. Furthermore, the current slowdown in auto sales in countries like China is expected to stifle demand for 3D printing materials.
Key Market Players
The major players within the market are 3D Systems, Inc. (NYSE: DDD), Evonik Industries AG, Stratasys Ltd., Concept Laser GmbH, Renishaw, Aspect Biosystems Ltd., Detax Ettlingen and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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