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.
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. The continuous advancements in AM technologies and rising interest of AM companies in composite part manufacturing 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 place 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 such 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.
The global 3D-Printed composites market is segmented based on composite type as continuous fibers and discontinuous fibers. The continuous fiber is projected to remain the most preferred composite type for 3D printing during the forecast period of 2019 to 2024. Discontinuous fiber composite is also gaining market traction because of its higher strength.
The global 3D-Printed composites market is segmented based on reinforcement type as carbon fiber composites, glass fiber composites, and other composites. Carbon fiber is projected to remain the largest reinforcement type in the global 3D-printed composites 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 global 3D-Printed composites market is segmented based on technology type as extrusion, powder bed fusion, and others. The 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 region, 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 the 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.
Stratasys Ltd., 3D Systems Corporation, Arevo Labs, MarkForged, Inc., Cincinnati Incorporated, Graphite Additive Manufacturing Limited, and CRP Group are some of the well-known 3D printing research labs offering 3D-printed composite parts in the market. 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.
This report offers high-quality insights and is 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. More than 500 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted about 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The global 3D-Printed composites market is segmented into the following categories.
3D-Printed Composites Market by End-Use Industry Type:
3D-Printed Composites Market by Composite Type:
3D-Printed Composites Market by Reinforcement Type:
3D-Printed Composites Market by Technology Type:
3D-Printed Composites Market by Region:
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List of Figures
List of Tables
Key Information Gathered from Secondary Research
Key Information Gathered from Primary Research
Breakdown of Primary Interviews by Region, Designation, and Value Chain Node
Data Analysis and Triangulation
1. Executive Summary
2. 3D-Printed Composites Market: Overview and Market Forces
2.2. Market Classification
2.2.1. By Composite Type
2.2.2. By Reinforcement Type
2.2.3. By End-Use Industry Type
2.2.4. By Technology Type
2.2.5. By Region
2.3. Market Drivers
2.4. Market Constraints
2.5. Supply Chain Analysis
2.6. Industry Life Cycle Analysis
2.7. PEST Analysis: Impact Assessment of Changing Business Environment
2.8. Porter’s Five Forces Analysis
2.8.1. Bargaining Power of Suppliers
2.8.2. Bargaining Power of Customers
2.8.3. Threat of New Entrants
2.8.4. Threat of Substitutes
2.8.5. Competitive Rivalry
2.9. SWOT Analysis
3. 3D-Printed Composites Market Analysis – By End-Use Industry Type
3.1. Strategic Insights
3.2. Aerospace & Defense 3D-Printed Composites Market Forecast (US$ Million)
3.3. Transportation 3D-Printed Composites Market Forecast (US$ Million)
3.4. Medical 3D-Printed Composites Market Forecast (US$ Million)
3.5. Consumer Goods 3D-Printed Composites Market Forecast (US$ Million)
3.6. Other 3D-Printed Composites Market Forecast (US$ Million)
4. 3D-Printed Composites Market Analysis – By Composite Type
4.1. Strategic Insights
4.2. 3D-Printed Continuous Fiber Composites Market Forecast (US$ Million)
4.3. 3D-Printed Discontinuous Fiber Composites Market Forecast (US$ Million)
5. 3D-Printed Composites Market Analysis – By Reinforcement Type
5.1. Strategic Insights
5.2. 3D-Printed Carbon Fiber Composites Market Forecast (US$ Million)
5.3. 3D-Printed Glass Fiber Composites Market Forecast (US$ Million)
5.4. 3D-Printed Other Fiber Composites Market Forecast (US$ Million)
6. 3D-Printed Composites Market Analysis – By Technology Type
6.1. Strategic Insights
6.2. Extrusion-based 3D-Printed Composites Market Forecast (US$ Million)
6.3. Powder Bed Fusion-based 3D-Printed Composites Market Forecast (US$ Million)
6.4. Other Technology-based 3D-Printed Composites Market Forecast (US$ Million)
7. 3D-Printed Composites Market Analysis – By Region
7.1. Strategic Insights
7.2. North American 3D-Printed Composites Market Forecast (US$ Million)
7.3. European 3D-Printed Composites Market Forecast (US$ Million)
7.4. Asia-Pacific’s 3D-Printed Composites Market Forecast (US$ Million)
7.5. Rest of the World’s (RoW) 3D-Printed Composites Market Forecast (US$ Million)
8. Competitive Analysis
8.1. Strategic Insights
8.2. Product Portfolio Analysis
8.3. Presence by End-Use Industry Type
8.4. Geographical Presence
8.5. New Product Launches
8.6. Strategic Alliances: Mergers and Acquisitions, Joint Ventures, Collaborations, etc.
8.7. Market Share Analysis
9. Strategic Growth Opportunities
9.1. Strategic Insights
9.2. Market Attractive Analysis
9.2.1. Market Attractiveness by End-Use Industry Type
9.2.2. Market Attractiveness by Composite Type
9.2.3. Market Attractiveness by Reinforcement Type
9.2.4. Market Attractiveness by Technology Type
9.2.5. Market Attractiveness by Region
9.3. Emerging Trends
9.4. Growth Matrix Analysis
9.5. Key Success Factors
10. Company Profile of Key Players
10.1. 3D Systems Corporation
10.2. Arevo Labs
10.3. Cincinnati Incorporated
10.4. Cosine Additive, Inc.
10.5. CRP Group
10.6. Graphite Additive Manufacturing Limited
10.7. MarkForged, Inc.
10.8. Oxford Performance Materials, Inc.
10.9. Stratasys, Ltd.