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Manufacturers are focusing on developing new 3D printing materials for better 3D printed products.
The global 3D printing market is quickly expanding. According to a report from Transparency Market Research (TMR), it’s set to grow at a CAGR of 18 percent between 2014 and 2020, reaching a value of $1.4 billion in five short years.
Growth in the 3D printing market can be attributed to a number of factors: adoption within the education and government sectors, regulatory support from government bodies and increased demand across almost all sectors.
However, another key part of what’s driving growth in the industry is manufacturers’ interest in creating new and improved 3D printing materials. In particular, plastics, the largest segment of the 3D printing materials market by volume, are expected to maintain their stronghold on the back of rising demand from electronics and other consumer products.
The potential of new 3D printing materials is already drawing new companies to market. For instance, 3D Printing Industry states that chemical, fiber and plastic manufacturer Eastman Chemical Company (NYSE:EMN), as well as colorFabb, a developer of 3D printing filaments, have both entered the 3D printing market with an eye to creating new 3D printing materials.
Filament manufacturers NinjaTek (a subsidiary of Fenner Drives) and taulman 3D are also in the business of creating more varied 3D printing materials. The companies recently partnered to carry each other’s products, with taulman 3D carrying NinjaTek’s firm but bendable SemiFlex range, and NinjaTek carrying industrial-grade materials Nylon 564 and Alloy 910.
In the public space, Graphene 3D Lab (TSXV:GGG,OTCQB:GPHBF) is making inroads with its conductive graphene filament, which gives users the ability to 3D print circuitry and sensors for electronic applications. The company sells the material through its website.
Old-time 3D printing heavyweights are also expressing awareness that the future of 3D printing may lie in creating more varied materials. For instance, Stratasys (NASDAQ:SSYS) claims that it provides the “widest range of materials in the 3D printing world.” From high-performance themoplastics to rubber-like, biocompatible potopolymers, the range of materials offered by Stratasys is wide and varied, allowing customers to customize their 3D printing needs.
That is just a taste of some of the ways that companies are entering the 3D printing materials market. If TMR proves correct, it’s likely that entrants to the industry will become more frequent and varied moving forward.
Do you know of a company that’s focused on an interesting 3D printing material? Let us know in the comments! Also, to stay up to date with the latest 3D printing news, follow us on twitter @INN_Technology.
This article was originally published on October 21, 2015.
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Graphene 3D Lab is a client of the Investing News Network. This article is not paid-for content.