3D printing materials market is witnessing increasing adoption among consumers across the globe. As the trend is shifting largely towards developing regions, 3D printing materials is witnessing impressive growth in Middle East regions. During the last few years, the Middle East regions have witnessed setting-up of various 3D printing manufacturing companies. The trend is likely to continue over the next 10 years owing to availability of low cost raw materials along with increasing manufacturing output in these regions.
Market Value and Volume Forecast
In terms of value, the Middle East 3D printing materials market is anticipated to expand at a CAGR of 16.7% during the forecast period. In addition, the Middle East 3D printing materials market volume is expected to register a CAGR of 11.2% during the forecast period.
Growth of the Middle East 3D printing materials market is mainly driven by low cost production output along with emergence of new supply chain and retail opportunities in the region. For instance, many e-Retailers are selling 3D printed products online owing to increased demand. These e-Retailers have minimized supply chain gap between 3D printed product manufacturers and end-users, which is expected to boost overall sales of 3D printing materials. Moreover, setting up of various 3D printing manufacturing units, along with emergence of many 3D printing technology-based start-ups in the region, is expected to bolster overall growth of the industrial manufacturing sector in the Middle East regions. Transition from conventional printing techniques to 3D printing can help manufacturers cut down overall operational costs by almost 50%.
Also, increasing demand for cost-effective replacement organs in the healthcare sector has led to increasing adoption of 3D printing technology in healthcare applications. In terms of value, the healthcare industry in GCC is expected to expand at a CAGR of 13.4% during the forecast period. This is expected to create significant demand for 3D printing technology in the region. Though Middle East 3D printing materials market is expected to witness impressive growth in the region, high cost of 3D printing materials is a major cause for concern for overall growth in demand for the 3D printing materials in the region.
Segmentation by Filament
The Middle East 3D printing materials market is segmented on the basis of filament type ABS, PLA, HIPS & PVA, Nylon, PET, ceramics and others. In terms of value, PLA filament segment has been estimated to account for 22.3% share of the Middle East 3D printing materials market value by 2015 end, and is projected to register healthy CAGR of 16.7% over the forecast period. PLA filament is widely used in medical applications as it possesses the ability to degrade into inoffensive lactic acid in the body.
The Middle East 3D printing materials market has been segmented into Middle East regions. GCC region comprises Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), Oman, Qatar, Kuwait and Bahrain. Levant region comprises Cyprus, Egypt, Turkey, Israel, Jordan and Rest of Levant countries, which comprises Syria, Palestine and Iraq.
In terms of market value, of all the countries, UAE is expected to remain dominant in the GCC 3D printing materials market throughout the forecast period. Among the Levant countries, Israel is expected to witness highest CAGR of 20.4% in terms of value during the forecast period.
Key players in the Middle East 3D printing materials market include 3D Systems, Stratasys Ltd., Beijing Tiertime Technology Co., Ltd., ExOne Co., 3D Filament Manufacturing, Coex LLC and MatterHackers Inc. A large number of players operating in the 3D printing materials market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their market presence in Middle East countries. Moreover, it also enables companies to increase product visibility across the region. Companies are focusing on instilling competitive capabilities to strengthen their market presence in the region.
This Future Market Insights Report examines the ‘3D printing materials market' for the period 2015 - 2025. The primary objective of the report is to offer updates and market opportunities in the market in GCC countries and Levant region over this period.
3D print materials are the filaments required for making a physical object from a three dimensional digital model. It involves a layer by layer process as opposed to subtractive manufacturing methods used to conventionally create objects. The most commonly used 3D printing materials are thermoplastics; however, metal filaments are gaining wide acceptance across various end-use sectors.
To understand and assess the opportunities in this market, the report is categorically split into four sections namely market analysis by filament, application, diameters and regions. The report analyses the Middle East 3D printing materials market in terms of market value (US$ Mn) and market volume (Tonnes).
The report starts with an overview of 3D printing materials and usage in various applications across the Middle East regions. In the same section, FMI covers the 3D printing materials market performance in terms of revenue. This section includes FMI analysis of key trends, drivers and restraints from the supply and demand side perspective.
The next section of the report analyses the market based on applications and presents the forecast in terms of value and volume for the next 10 years. Filaments covered in the report include:
The next section of the report analyses the market based on application segments and presents the forecast in terms value and volume for the next 10 years. Application segments covered in the report include:
The next section of the report analyses the market based on diameter type segments and presents the forecast in terms value and volume for the next 10 years. Diameter type segments covered in the report include:
The next section of the report analyses the market based on regions and presents the forecast in terms of value and volume for the next 10 years. Regions covered in the report include:
To arrive at market size, the report considers average price of 3D printing materials per metric tonne across geographies. The forecast presented here assesses the total revenue of 3D printing materials. When developing the forecast of the market, the starting point is sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the outcome on the basis of supply side, demand side and GDP growth rate to arrive at results. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, we have taken into consideration year-on-year growth to understand the predictability of the market and to identify the right opportunities across the 3D printing materials market.
As previously highlighted, the market for 3D printing materials is split into various segments based on region, filaments, application and diameter type. All these segments have been analyzed in terms of basis point share (BPS) to understand individual segments relative contribution to market growth. This detailed level of information is important for identification of many key trends in the 3D printing materials market.
Also, another key feature of this report is the analysis of 3D printing materials market by regions, filament segments and applications and its revenue forecast in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the Middle East 3D printing materials market.
Furthermore, Future Market Insights has developed a market attractiveness index for all four segments - regional, filament type, application and by diameter type segments. This index helps in identifying the real opportunities in the market.
In the final section of the report, the 3D printing materials market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the market, presence in 3D printing materials product portfolio and key differentiators. Key players included in the report include 3D Systems, Stratasys Ltd., Beijing Tiertime Technology Co., Ltd., ExOne Co., 3D Filament Manufacturing, Coex LLC and MatterHackers Inc.