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    3D Printed Composites Market Report

    3D Printed Composites Market Report
    Report code - SRAM143 Published On : Feb,2019 No. of Pages: 148
    3D-Printed Composites Market Size, Share, Trend, Forecast, & Industry Analysis: 2019-2 See more...

    Market Insights

    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 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.

    Currently, most of the composite parts are fabricated through labor-intensive manufacturing processes, such as hand layup, which places this versatile material behind in the race compared with other competing materials used in the mass-produced applications. Over the past two decades, the composites industry has experienced a sheer transformation in the development of manufacturing process in terms of automation; however, end-use industries such as automotive are still demanding further reduction in the overall cycle time of finished parts. At the same time, they are also looking for a process that curtails wastage during production. Here, 3D printing plays a vital role in delivering the customers’ expectation by making parts in lesser time with reduced wastage.   

    Segments' Analysis

    3D-Printed Composites Market by Composites Type

    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.

    3D-Printed Composites Market by Reinforcement Type

    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.

    3D-Printed Composites Market by Technology Type

    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.

    Regional Insights

    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 Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2013-2024

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Size in 2024                        

    US$ 187.7 million

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented into the following categories:

    3D-Printed Composites Market Size, Share & Forecast, by End-Use Industry Type:

    • Aerospace & Defense
    • Transportation
    • Medical
    • Consumer Goods
    • Others

    3D-Printed Composites Market Size, Share & Forecast by Composite Type:

    • Continuous Fiber Composites
    • Discontinuous Fiber Composites

    3D-Printed Composites Market Size, Share & Forecast by Reinforcement Type:

    • Carbon Fiber Composites
    • Glass Fiber Composites
    • Other Composites

    3D-Printed Composites Market Size, Share & Forecast by Technology Type:

    • Extrusion Process
    • Powder Bed Fusion
    • Others

    3D-Printed Composites Market Size, Share & Forecast by Region:

    • North America
    • Europe
    • Asia-Pacific
    • Rest of the world 

    Key Players

    Some of the well-known 3D printing research labs offering 3D-printed composite parts in the market are-

    • Stratasys Ltd.
    • 3D Systems Corporation
    • Arevo Labs
    • MarkForged, Inc.
    • Cincinnati Incorporated
    • Graphite Additive Manufacturing Limited
    • CRP Group 

    Development of 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.

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    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. The report provides the market assessment and competitive landscapes in the most comprehensive manner and can be decisive for the decision makers for formulating their growth strategies based on the opportunities available in the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Market Segmentation

    • Current market segmentation of any one of the end-use industries by composite type  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The 3D printed composites market size is expected to reach US$ 187.7 million in the foreseeable future.

    Stratasys Ltd., 3D Systems Corporation, Arevo Labs, MarkForged, Inc., Cincinnati Incorporated, Graphite Additive Manufacturing Limited, and CRP Group are among the key players in the 3D printed composites market.

    North America is expected to remain the largest 3D printed composites market during the forecast period.

    Extrusion is expected to remain the most dominant technology type in the 3D printed composites market in the coming years.

    Carbon fiber is expected to remain the largest reinforcement type in the 3D printed composites market during the next five years.