Chemicals Industry Today
The Market of 3D-Printed Composites to grow beyond US$ 206.1 million by 2024
This strategic assessment report, from Stratview Research, identifies and explores the opportunities for 3D printing in the composites industry for the forecast period of 2019 to 2024.
Published 01 August 2019
The new report of Stratview Research analyses the 3D-Printed Composites Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/271/3D-Printed-Composites-Market.html
3D-Printed Composites Market: Highlights
3D printing or additive manufacturing (AM) is still at a nascent stage in the composites industry, but the technology possesses huge opportunities in most of the industry verticals including aerospace & defense and automotive. The technology offers several benefits over existing processes, such as lower part cycle time, efficient part manufacturing, ability to create variable geometries, reduction in waste, no need for expensive tools, and compatibility with all possible material combinations.
The Growth Prognosis & its Drivers
The global 3D-Printed composites market is projected to grow at an impressive rate in the coming five years to reach an estimated value of US$ 187.7 million in 2024. 3D printing is currently deployed for the development of prototype composite parts and composite tools. The technology currently accounts for less than 0.1% of the total composites part manufacturing market. This brings a significant growth potential for 3D-printing technology to the table. Continuous advancements in AM technologies and rising interest of AM companies in composites will take the penetration of AM in the composite part manufacturing market to new heights. Major players have been at the forefront in launching carbon fiber-based 3D-printed composites. For an instance; in 2017, Stratasys, a leading 3D-printing company, launched a carbon fiber-filled nylon product for prototyping, tooling, and high-end applications by replacing metals.
Market Segments
Based on the composites type, the market is segmented as continuous fibers and discontinuous fibers. Continuous fiber is projected to remain the most preferred composite type for 3D printing during the forecast period. However, discontinuous fiber composite is also gaining market traction because of its higher strength.
Based on the reinforcement type, the market is segmented as carbon fiber composites, glass fiber composites, and other composites. Carbon fiber is projected to remain the largest reinforcement type in the 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.
The market is segmented based on technology type as extrusion, powder bed fusion, and others. Extrusion is expected to remain the most dominant technology for the fabrication of 3D-printed composite parts during the forecast period, as it is considered to be a superior technology in terms of withstanding high temperature; however, powder bed infusion technology is estimated to grow at the highest rate during the same period.
In terms of regions, 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 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.
Market Players
TenCate Advanced Composites, Cytec Solvay Group, Gurit Holding AG, Hexcel Corporation, and GMS Composites are major OOA prepreggers. Most of them are the market leaders in the traditional prepreg too. New Application development, long-term contracts, and new product development are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.
Comprehensive Market Coverage
Click here for other reports from Stratview Research in the Advanced Materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/271/3D-Printed-Composites-Market.html
3D-Printed Composites Market: Highlights
3D printing or additive manufacturing (AM) is still at a nascent stage in the composites industry, but the technology possesses huge opportunities in most of the industry verticals including aerospace & defense and automotive. The technology offers several benefits over existing processes, such as lower part cycle time, efficient part manufacturing, ability to create variable geometries, reduction in waste, no need for expensive tools, and compatibility with all possible material combinations.
The Growth Prognosis & its Drivers
The global 3D-Printed composites market is projected to grow at an impressive rate in the coming five years to reach an estimated value of US$ 187.7 million in 2024. 3D printing is currently deployed for the development of prototype composite parts and composite tools. The technology currently accounts for less than 0.1% of the total composites part manufacturing market. This brings a significant growth potential for 3D-printing technology to the table. Continuous advancements in AM technologies and rising interest of AM companies in composites will take the penetration of AM in the composite part manufacturing market to new heights. Major players have been at the forefront in launching carbon fiber-based 3D-printed composites. For an instance; in 2017, Stratasys, a leading 3D-printing company, launched a carbon fiber-filled nylon product for prototyping, tooling, and high-end applications by replacing metals.
Market Segments
Based on the composites type, the market is segmented as continuous fibers and discontinuous fibers. Continuous fiber is projected to remain the most preferred composite type for 3D printing during the forecast period. However, discontinuous fiber composite is also gaining market traction because of its higher strength.
Based on the reinforcement type, the market is segmented as carbon fiber composites, glass fiber composites, and other composites. Carbon fiber is projected to remain the largest reinforcement type in the 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.
The market is segmented based on technology type as extrusion, powder bed fusion, and others. Extrusion is expected to remain the most dominant technology for the fabrication of 3D-printed composite parts during the forecast period, as it is considered to be a superior technology in terms of withstanding high temperature; however, powder bed infusion technology is estimated to grow at the highest rate during the same period.
In terms of regions, 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 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.
Market Players
TenCate Advanced Composites, Cytec Solvay Group, Gurit Holding AG, Hexcel Corporation, and GMS Composites are major OOA prepreggers. Most of them are the market leaders in the traditional prepreg too. New Application development, long-term contracts, and new product development are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.
Comprehensive Market Coverage
Click here for other reports from Stratview Research in the Advanced Materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
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