by • April 12, 2016 • No Comments
Future Market Insights (FMI) delivers key insights on the Middle East 3D printing materials market in its next outlook titled, “3D Printing Materials Market: Middle East Industry Analysis and Opportunity Assessment, 2015 – 2025”.
According to the report, the Middle East 3D printing materials market is projected to register a CAGR of 16.7% in terms of value during the forecast period 2015-2025; volume-wise, the market is expected to increase at CAGR of 11.2%.
Setting up of different types of 3D printing making units, along with emergence of most 3D printing innovation-based start-ups in the region, is expected to bolster overall growth of the industrial making sector in the Middle East.
Middle East 3D Printing Materials Market Segmentation
Middle East 3D printing materials market is segmented on the basis of filament, application, diameter type, and region.
On the basis of filament type, the market has been segmented into ABS, PLA, HIPS & PVA, Nylon, PET, ceramics and others. In terms of value, PLA filament segment was estimated to account for 22.3% share of the Middle East 3D printing materials market in 2015. This segment is projected to register a healthy CAGR of 16.7% during the forecast period. Metal filament segment is seeing worthwhile growth and is expected to record sustainable growth in the near next.
On the basis of application, the market has been segmented into electronics & consumer, car, medical, industrial, education, aerospace and others. Electronics and consumer application segment is expected to register astounding CAGR of 12.6% in terms of value.
Adoption rate of 3D printing innovation in the making sector in GCC is around 11%, that is above average when compared to global adoption rate. Government initiatives to set up 3D making labs across different types of sectors, along with increasing awareness one of manufacturers regarding operational cost profit, have led to the emergence of most new 3D printing start-ups in the region. In addition, increasing demand for cost-effective replacement organs in the healthcare sector has led to increasing adoption of 3D printing innovation 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 turn it into worthwhile demand for 3D printing innovation in the region. But Middle East 3D printing materials market is expected to see astounding growth in the region, high cost of 3D printing materials along with no uniform create or making capabilities is a significant cause for concern for increase in overall demand for 3D printing materials.
This report covers trends driving growth of every segment and offers analysis and insights of the future of the 3D printing materials in all the countries covered under Middle East. Market in Levant countries are expected to stay dominant throughout the forecast period. This is primarily due to presence of a few of the international players in the region along with well-established making sectors in the region. Levant is mainly driven by Israel and Turkey.
Middle East 3D Printing Materials Market: Key Companies
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 sizeable 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 in addition empowers companies to increase product visibility across the region.
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