Astronomical Growth Projected for Global 3D-Printed Composite Materials
The growing adoption of 3D-printed composite materials in the aerospace sector is one of the key factors that will drive the market’s growth.
The global 3D-printed composite materials market is expected to post a CAGR of more than 38% from 2019-2023, according to a market research report from Technavio. The growing adoption of 3D-printed composite materials in the aerospace sector is one of the key factors that will drive the market’s growth. Because of their superior strength, high-temperature resistance, and low weight, 3D-printed composite materials are increasingly used in aircraft engines. These materials reduce fuel consumption, decrease emissions, and increase the overall efficiency of the engine. In addition, 3D-printed composite materials ensure convenience in the production of complex geometries and shapes. Such advanced manufacturing processes can be easily achieved when the carriers want to increase their passenger space.
The increased demand for carbon fiber composites is one of the key emerging trends in the global 3D-printed composite materials market. Many automotive and aircraft manufacturers are increasingly employing 3D-printed carbon fiber composite materials. 3D-printed carbon fiber components have a high strength-to-weight ratio when compared to conventional metal counterparts. These materials are lightweight and reduce the curb weight of the vehicle, thereby increasing efficiency. In the automotive sector, 3D-printed carbon fiber composite materials are used in pickup boxes, interior headliners, and door modules. In addition, the abrasion- and strain-resistance properties of these composite materials increase the durability of the components.
North America led the market in 2018 with a market share of more than 37%, followed by Europe, Asia-Pacific, South America, and the Middle East and Africa, respectively. The dominance of North America can be attributed to the increasing investments by government and industry participants in additive manufacturing that are fueling the development and adoption of 3D printers.
Additional details are available at www.technavio.com.