Global 3D-Printed Composites Market Set to Reach $187.7 Million by 2024

Dublin, July 23, 2019 (GLOBE NEWSWIRE) -- The "3D-Printed Composites Market by Composite Type (Continuous and Discontinuous), by Reinforcement Type, by End-Use Industry Type, by Technology Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024" report has been added to ResearchAndMarkets.com's offering.

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.

This strategic assessment report identifies and explores the opportunities for 3D printing in the composites industry for the forecast period of 2019 to 2024. The report provides 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.

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 & defence 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.

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 fibre-based 3D-printed composites. For instance; in 2017, Stratasys, a leading 3D-printing company, launched a carbon fibre-filled nylon product for prototyping, tooling, and high-end applications by replacing metals.

Currently, most of the composite parts are fabricated through labour-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 a 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.

Based on the composites type, the market is segmented as continuous fibres and discontinuous fibres. Continuous fiber is projected to remain the most preferred composite type for 3D printing during the forecast period. However, discontinuous fibre composite is also gaining market traction because of its higher strength.

Based on the reinforcement type, the market is segmented as carbon fibre composites, glass fibre composites, and other composites. Carbon fibre is projected to remain the largest reinforcement type in the market during the forecast period. This fibre type is also likely to witness the highest growth during the same period. Carbon fibre 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 fibre 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 fibres in major industries such as aerospace & defence 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 favour 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.

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

Key Topics Covered

1. Executive Summary

2. 3D-Printed Composites Market: Overview and Market Forces
2.1. Introduction
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. The 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.

For more information about this report visit https://www.researchandmarkets.com/r/f45uw1

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Related Topics: 3D Printing, Composites