3D Printing Materials Market Worth $3.8 Billion By 2025

The global 3D printing materials market size is expected to reach USD 3.8 billion by 2025, growing at a CAGR of 23.9%, according to a new report by Grand View Research, Inc. Extensive R&D and technological advancements in 3D printing technologies is expected to fuel the market growth over the forecast period.

Expansion of various industries including automotive, aerospace and defense, medical, and others across the globe is projected to benefit the market growth. In addition, rising demand for 3D printing materials such as photopolymers, metals, thermoplastics, and ceramics owing to its superior strength and durability is estimated to drive the industry growth.

The demand for low cost mass manufacturing to reduce lead time and to enhance the quality and efficiency of the resultant product has emerged as the primary reason for growing popularity of the technology across all industries. In addition, factors such as low component weight and the ability to print cheaper equipment on demand and in less time is expected to drive the market.

3D printing materials are expected to witness strong growth owing to the widespread applications including consumer, aerospace and defense, healthcare, and industrial. Growing number of efforts and investments in the Asia-Pacific market owing to the presence of developing economies such as China, India, and Indonesia is expected to create a favorable scenario for the market growth.

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https://www.grandviewresearch.com/industry-analysis/3d-printing-materials-market

Further key findings from the report suggest:

The photopolymer segment accounted for the largest market share of 38.1% in terms of revenue in 2018, as it provides high resolution and can be used to print most complex models
The aerospace and defense application segment is anticipated to witness a CAGR of 25.3% from 2019 to 2025 owing to factors such as enhanced manufacturing process and reduced lead time as compared the traditional process
The Asia Pacific market is estimated to exhibit a CAGR of 28.6% from 2019 to 2025 on account of rapid expansion of industries including automotive and consumer products coupled with increased spending power
China is anticipated to witness a CAGR of 25.8% from 2019 to 2025 owing to the expansion of the industrial sector coupled with rapid adoption of 3D printing technology
3D printing materials Market participants across the globe have increased their R&D spending in order to develop highly efficient products for various applications.

Spandex Market Size Worth $8.8 Billion By 2027

The global spandex market size is expected to reach USD 8.8 billion by 2027 registering a CAGR of 2.2%, according to a new report by Grand View Research, Inc. Rapid expansion of the textile industry coupled with rising demand for sportswear, active wear, diapers, intimate wear, etc. is projected to propel the market growth. Benefits of spandex fibers including lightweight, resistance to perspiration, superior elasticity, excellent strength, and durability are projected to promote its use in applications including clothing, medical, and others.

Spandex is increasingly being used in the manufacturing of medical products including compress bandages, stretchable bandages, surgical hose, etc. Rising demand for medical products across the globe on account of the increasing number of healthcare centers is expected to augment the product demand further. Raw materials used in the manufacturing of spandex include Polytetramethylene Ether Glycol (PTEG) and MDI that are derived from petrochemical feedstock. Stringent government regulations across the economies to curb the carbon footprints is projected to limit the expansion of the spandex market.

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https://www.grandviewresearch.com/industry-analysis/spandex-market

Further key findings from the report suggest:

The clothing application segment is projected to register the fastest CAGR from 2020 to 2027 on account of the growing demand for sportswear, swimwear, yoga pants, under garments, and others
The solution dry-spinning process accounted for the maximum market share of 95.2% in 2019 and is projected to register at a steady CAGR from 2020 to 2027 owing to the multiple benefits of the process including higher spinning speed and flexibility
Asia Pacific led the global market in 2019 owing to the expansion of textile industry in China, India, Indonesia, and several other economies
Growing production of spandex in U.S. on account of the rising demand for active wear, sportswear, inner wear, and others is projected to drive the North America regional market
China accounted for the highest market share in Asia Pacific due to the growing number of production facilities in the country

Elastomers Market Size Worth $109.2 Billion By 2025

The global elastomers market size is expected to reach USD 109.2 billion by 2025 expanding at a CAGR of 4.8%, according to a new study by Grand View Research, Inc. The market is anticipated to be driven by rising demand from several application areas including automotive, medical, consumer goods, industrial, and others. Moreover, the development of biodegradable grades of elastomers is anticipated to create lucrative growth opportunities for the market. Automotive application segment is expected to lead the market during the forecast period. Rising adoption for hybrid and Electric Vehicles (EVs) is influencing the product demand in this application. High-performance elastomers are used in EVs for better fuel-efficiency and reduced carbon emissions.

A number of manufacturers are engaged in substituting steel to compete in terms of operating range with internal combustion vehicles. In addition, various battery charging stations are installed to improve the operating range of EVs. Rising scale of automotive manufacturing coupled with increasing use of modified plastics is expected to act as a key driver for the market over the forecast period. Booming manufacturing sectors in China and India, particularly in automotive and electronics industries, will drive the APAC regional market. Thermoplastic Elastomers (TPEs) are fully recyclable and capable of reprocessing, which is expected to boost development in the electrical and electronics segments in packaging and wire and cable fields.

They are also highly UV- and ozone-resistant, which increases their scope for outdoor wiring applications. Major types of TPEs include Styrene Block Copolymer (SBC), Thermoplastic Polyurethanes (TPU), Thermoplastic Polyolefins (TPO), Thermoplastic Vulcanizates (TPV), Copolymer Esters (COPE) and other TPEs. Development of innovative TPEs is projected to boost product scope in undiscovered applications and help increase the market share. Emphasis on waste reduction is anticipated to foster the replacement of conventional raw materials with recyclable and sustainable TPEs, which is also likely to boost segment growth.

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https://www.grandviewresearch.com/industry-analysis/elastomers-market

Further key findings from the study suggest:

Asia Pacific led the global elastomers market and is also anticipated to witness the fastest CAGR of 6.1% during the forecast period from 2018 to 2025
China is the fastest-growing country in the global market due to huge growth potential as it is characterized by high demand, as well as production, of elastomers; mainly TPEs
The growth of the elastomers market in China is majorly supplemented by high demand from the footwear industry
Extensive R&D activities in the field of developing eco-friendly grades have led to the creation of several improved product grades, which is expected to help boost the market
Recently, PolyOne Corp. announced to initiate TPE production at its production facility in Pune, India, which will allow the company to cater to the domestic consumer needs

Aromatherapy Carrier Oils Market Size Worth $1.9 Billion By 2026

The global aromatherapy carrier oil market is expected to account for USD 1.90 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 10%. Growing awareness and increasing use of therapeutic carrier oils has led to high market growth. Aromatherapy is considered an alternative to medicinal therapy for treatment of a wide range of conditions. Thus, with growing awareness about the field of alternative & complementary medicine, therapeutic-grade carrier oils are increasingly being adopted due to their healing properties.

In addition, adoption of natural products has increased as a number of adverse effects are associated with pharmaceutical products. For instance, apricot kernel oil is widely used for skin & hair care and scar & pain management as well as in manufacturing of soaps.

Aromatherapy products such as carrier oils have also been proven to be highly effective in pain management and healing of wounds & cuts. These products consist of healing as well as antibacterial properties.

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https://www.grandviewresearch.com/industry-analysis/aromatherapy-carrier-oil-market

Further key findings from the study suggest:

Cosmetics segment dominated the aromatherapy carrier oils market in 2018 and is anticipated to grow at a lucrative rate during the forecast period owing to increase in incidence of skin and hair problems
Medical segment also held significant share in 2018 owing to growing awareness about the various types of therapeutic-grade products available
Rapid industrialization and increasing consumer awareness regarding new medical practices have led to an increase in demand for these products globally
In 2018, personal care segment was expected to witness lucrative CAGR over the forecast period owing to increase in use of carrier oils as a base for manufacturing soaps
North America held the largest market share in 2018 owing to rise in the number of key players introducing therapeutic grade products in the U.S.
Lucrative trading opportunities have led to an increase in growth potential of the European market
Asia Pacific is projected to exhibit significant growth rate over the forecast period due to growing awareness pertaining to aromatherapy as well as rise in incidence of skin disorders in this region
Some of the key companies are Edens Garden, Rocky Mountain Oils, Plant Therapy Essential Oils, Falcon Essential Oils, FLORIHANA, and Moksha Lifestyle Products

3D Printing Ceramics Market Size Worth $159.5 Million By 2025

The global 3D printing ceramics market size is expected to reach USD 159.5 million by 2025, accelerating at a CAGR of 34% over the forecast period, according to a new report by Grand View Research, Inc. Advancements in printing technology and increased investments are among drivers triggering the market growth.

Metal and plastic 3D printing companies have started focusing on products made of ceramics in the recent years. The market is projected to grow at a rapid pace over the forecast period. Growing need for strong, tough, and temperature resistant components and parts in different end-use industries is the key driver triggering the growth of 3D printing ceramics industry.

Different printers that use materials such as porcelain, ceramics, alumina, and clay using various technologies are available in the market. Liquid deposition modeling (LDP) technology is anticipated to create opportunities in the design and architecture fields. Digital light processing (DLP) and stereolithography (SLA) technologies can be used to produce precise and complex parts for implants application in the medical field.

3D printing ceramics industry is still in the growing phase and faces some challenges. Lack of trained professionals & engineers and education programs for engineers related to the field of 3D printing are among major challenges in the sector. However, the adoption of 3D printing by major manufacturers, providers, and end users of products made of ceramics is projected to promote the technology.

Multinational companies and numerous startups are focusing on reduced execution time and enhanced operational efficiency in different end-user industries. Japan-based Canon Inc. developed a new 3D printing technology for ceramics in 2018. The technology can be used in various applications that require corrosion & heat resistance and insulation properties. The company also developed new ceramic materials to produce highly accurate parts.

Aerospace and medical industries are the key contributors to the growth of the market. As per a report by Airbus, the expanding middle-class population is projected to boost the number of flyers around the world, which, in turn, is anticipated to trigger the production of commercial aircraft and indirectly contribute to the demand for finished components or parts. Moreover, growing adult population and rising healthcare investments are likely to promote the use of 3D printed finished products made of ceramics. Growth of medical and aerospace industries in North America is among key factors influencing the demand for 3D printing. Government funding for healthcare sector in Asia Pacific is projected to assist the market growth. The region is projected to witness the highest CAGR over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/3d-printing-ceramics-market

Further key findings from the report suggest:

In terms of revenue, aerospace end-use segment is anticipated to reach USD 26.1 million by 2025 owing to increasing number of flyers globally
In terms of volume, medical end-use segment is projected to ascend at a CAGR of 35.4% over the forecast period owing to increasing adult population and growing healthcare investments, which is one of the key factors likely to trigger the demand for 3D printing of ceramics
Industrial machinery segment accounted for 8.7% volume share in the 3D printing ceramics market in 2018 owing to industrial output supported by increased demand for machinery
North America accounted for the highest volume share of 45.2% in 2018
Tethon3D, 3D CERAM, Lithoz, Steinbach AG, PRODWAYS, and Desamanera S.r.l. are some of the key players in the market.

Thermal Spray Coatings Market Size Worth $13.6 Billion By 2027

The global thermal spray coatings market size is expected to reach USD 13.6 billion by 2027, expanding at a CAGR of 3.9%, according to a new report by Grand View Research, Inc. Increasing demand from the aerospace, industrial gas turbines, and a few other application industries is expected to propel market growth. Moreover, the growing demand for corrosion-resistant coatings from these sectors is expected to be a key driver for the market.

Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. In addition, it is used for providing insulation or electrical conductivity, chemical resistance, lubricity, sacrificial wear, high or low friction, and several other properties to the coated surfaces. These coatings have the high-potential market opportunities on account of their properties, such as biocompatibility, cavitation resistance, and aesthetic appeal. Increasing oil and gas exploration activities, particularly in the Asia Pacific, coupled with upcoming shale gas explorations across the globe are expected to fuel the demand further. There are several regulations governing the market.

These regulatory standards define thermal-spray processes for machinery element repair of ferrous and non-ferrous substrates. Medical is expected to be the fastest-growing application segment on account of increasing application scope of thermal spray coatings in the biomedical sector. These coatings help extend the shelf life and improve the performance of dental implants and orthopedic implants. The advantages of using such coatings in the biomedical sector include superior wear and corrosion resistance and bone bond enhancement. Asia Pacific is expected to be the fastest-growing regional market on account of increasing vehicle production along with rapid economic growth in China, India, and Japan, Indonesia, South Korea, and Thailand.

Further, the recent outbreak of COVID-19 has disrupted supply chains and sharply curtailed product demand. Restriction in transportation and supply due to slowdown or halting of factories and partial or nationwide lockdowns in several countries in order to restrain the spread of the pandemic is expected to negatively impact market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/thermal-spray-coatings-market

Further key findings from the report suggest:

Aerospace application segment led the market accounting for a revenue share of 32.3% in 2019 and is projected to maintain its dominance during the forecast period
In the U.S., the market is anticipated to reach USD 3.8 billion by 2027 owing to the presence of key manufacturers and suppliers in the country
The market is highly competitive in nature with the presence of a number of global medium- and small-scale companies
Key companies engage in strategies, such as mergers and acquisitions and product development, to expand their market reach and product portfolio

Microfluidics Market Size Worth $31.6 Billion By 2027

The global microfluidics market size is expected to reach USD 31.6 billion by 2027, according to a new report by Grand View Research, Inc., registering an 11.3% CAGR over the forecast period. Demand for microfluidic-based devices is expected to surge owing to introduction of novel technologies such as digital microfluidics. These techniques allow on-chip biochemical analysis, thereby driving adoption.

Rise in the adoption of microfluidics for point-of-care diagnostics is expected to have a significant impact on market growth. Industry players such as Abbott, Roche, and Danaher have already incorporated this technology in their existing diagnostic devices and are exploring the scope of digital microfluidics. For instance, Philips’ Minicare I-20 handheld device provides accurate and rapid results for the diagnosis of heart attacks.

Large investments targeted toward the development of microfluidics and promoting their adoption are expected to create opportunities for the expansion for automated as well as miniature devices. For instance, according to an article published in 2018, there have been large-scale investments in “sample-to-answer” microfluidic automated testing in recent years.

Microfluidics has not only been proven beneficial in biological bench-work but also several medical and pharmaceutical applications, including diagnosis of infectious diseases and treatment of cancer. The technology aids in the fabrication of functional living tissues and artificial organs. Companies such as Abbott, Roche, Cepheid, and Becton, Dickinson and Company (BD) are integrating such technologies with in-vitro diagnostics (IVD). Samsung LABGEOPT10 and Abbott i-STAT are examples of single-step blood glucose testing assays that can work on a small sample volume (a single blood drop).

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https://www.grandviewresearch.com/industry-analysis/microfluidics-market

Further key findings from the report suggest:

The medical/healthcare segment dominated the market by technology owing to rise in demand for new molecular diagnostic tests with enhanced sensitivities, shorter turnaround time, and increased accuracy at minimal costs
PCR & RT-PCR were the largest revenue-generating medical technology in 2019 and the segment is expected to retain its lead throughout the forecast period. Digital PCR in combination with a microfluidic device allows a large amount of PCR reaction mix to be distributed into nanoliter-sized volumes automatically
The organs-on-chips application segment is expected to register the fastest CAGR throughout the forecast period. The method can potentially reduce the failure rate in drug development pipelines, thereby reducing the time and money associated with drug development
By material, polydimethylsiloxane (PDMS) accounted for the largest revenue share in 2019. The material is used to fabricate microfluidic-based devices because of its nontoxicity, robustness, optical transparency, permeability, biocompatibility, elastomeric features, and low cost.
North America dominated the global microfluidics market in 2019 and is expected to retain its dominance over the analysis period. Local presence of leading players, availability of funds and research capital, and launch of novel sample volume screening technologies drives the North America market
Asia Pacific is expected to witness the fastest growth owing to rise in aging population, demand for point-of-care diagnostic tests, and presence of academic institutions such as the Institute of Microchemical Technology (IMT), Japan, that are focused on microfluidic-based research
Illumina, Inc.; PerkinElmer, Inc.; Agilent Technologies, Inc.; Danaher Corporation; Bio-Rad Laboratories, Inc.; Life Technologies Corporation; Abbott Laboratories; F. Hoffmann-La Roche Ltd; and Fluidigm Corporation are some of the key players operating in the global market

Australia Legal Cannabis Market Size Worth $1.9 Billion By 2026

The Australia legal cannabis market size is expected to reach USD 1.9 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 42.1% during the forecast period. Increasing government support for marijuana legalization, rising patient population, and the entry of international companies in the country are the key factors driving the market growth. An increase in the production of medical marijuana owing to its high demand in the pharmaceutical sector is anticipated to further drive the growth.

In 2019, the marijuana segment dominated the market for legal cannabis, with a revenue share of 71.3%. The segment is further classified into flower and oil. The flower segment dominated the market in 2019, owing to its high availability and adoption among consumers. On the other hand, the oil segment is projected to be the fastest-growing, due to rising consumer awareness about the negative effects of marijuana smoking. Moreover, the preference for marijuana oil is increasing among patients, as it is easy to ingest and more travel friendly.

Medical application dominated the market in 2019. A steep rise in the number of medical approvals for patients, on-going research on cannabis, and increased production are the key factors driving the market growth. Furthermore, its sub-application-chronic pain-dominated the market with market size of USD 55.2 million in 2019. Increasing demand for effective pain management therapeutics is the key factor driving the segment growth.

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https://www.grandviewresearch.com/industry-analysis/australia-legal-cannabis-market

Further key findings from the study suggest:

Marijuana product type dominated the market in 2019, with a revenue share of 71.3%, owing to its high adoption and availability
Chronic pain, under medical applications, dominated the market in 2019 with a value of USD 55.2 million, as the demand for cannabis is increasing in pain management
The market is dominated by many local and international players. Local players are focused on geographical expansion and creating awareness about the medical benefits of marijuana among patients and healthcare professionals for increasing their consumer base

Microfluidics Market Size Worth $31.6 Billion By 2027

Click the link below:
https://www.grandviewresearch.com/industry-analysis/microfluidics-market

Further key findings from the report suggest:

The medical/healthcare segment dominated the market by technology owing to rise in demand for new molecular diagnostic tests with enhanced sensitivities, shorter turnaround time, and increased accuracy at minimal costs
PCR & RT-PCR were the largest revenue-generating medical technology in 2019 and the segment is expected to retain its lead throughout the forecast period. Digital PCR in combination with a microfluidic device allows a large amount of PCR reaction mix to be distributed into nanoliter-sized volumes automatically
The organs-on-chips application segment is expected to register the fastest CAGR throughout the forecast period. The method can potentially reduce the failure rate in drug development pipelines, thereby reducing the time and money associated with drug development
By material, polydimethylsiloxane (PDMS) accounted for the largest revenue share in 2019. The material is used to fabricate microfluidic-based devices because of its nontoxicity, robustness, optical transparency, permeability, biocompatibility, elastomeric features, and low cost.
North America dominated the global microfluidics market in 2019 and is expected to retain its dominance over the analysis period. Local presence of leading players, availability of funds and research capital, and launch of novel sample volume screening technologies drives the North America market
Asia Pacific is expected to witness the fastest growth owing to rise in aging population, demand for point-of-care diagnostic tests, and presence of academic institutions such as the Institute of Microchemical Technology (IMT), Japan, that are focused on microfluidic-based research
Illumina, Inc.; PerkinElmer, Inc.; Agilent Technologies, Inc.; Danaher Corporation; Bio-Rad Laboratories, Inc.; Life Technologies Corporation; Abbott Laboratories; F. Hoffmann-La Roche Ltd; and Fluidigm Corporation are some of the key players operating in the global market

Fiber Optics Market Size Worth $9.1 Billion By 2025

The global fiber optics market size is expected to reach USD 9.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% over the forecast period. Rising government funding to develop secure infrastructures is anticipated to drive the adoption.

Rising terrorism is appealing government authorities and defense services of different countries to take initiatives and stringent steps to curb down such occurrences. This has led to the evolution and adoption of technologies such as body cams, wearables, and other responders that keep the security personnel connected, irrespective of user location and user fiber optics for communications. The concept of Internet of Everything (IoE) is attracting security sector owing to increasing awareness regarding effectiveness and efficiency of the technology that aids in curbing national issues, such as riots, massacres, killings, and other criminal offenses. Need for high-speed internet, which is capable of efficiently transmitting the data, is anticipated to grow with increasing demand for IoE.

Growth prospects for fiber optics technology in telecommunications sector appears to be promising due to its growing adoption in communication and data transmission services. Fiber optics enable high-speed data transfer services in both small and long-range communications. It also serves as a medium to cope with increasing bandwidth requirements associated with broadband services, network operators, and broadband connection providers. Rising implementation of fiber optic components in distribution cables, trunk cable forms, high density interconnect cables, and standard patch cords is expected to enhance the demand from telecom sector.

Furthermore, high initial acquisition and installation costs are hindering growth of the fiber optics market. An optical fiber system consists of a variety of components such as optical cables, transmitters, and receivers. Installation of the entire system is a labor-intensive process, especially installation of the network for underground and undersea connections is one of costliest and tedious procedures. Fiber optics, with their advancements, have overtaken the copper-cable transmission. However, installation process to deploy the optical networks, being an extremely high-cost part, is expected to hamper the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/fiber-optics-market

Further key findings from the study suggest:

Governments of developed countries such as U.S., U.K, Germany, China, and Japan are heavily investing in security infrastructures at domestic levels. This is eventually necessitating funding for technologies, majorly across the fiber optics that would enhance the telecommunication sector infrastructure with better security measures. Therefore, the government funding in infrastructure is driving the market
Plastic optical fiber segment is projected to expand at a CAGR of 7.0% over the forecast period. POF differs from its single and multimode counterparts on the basis of the core materials used in POF cable construction. While single and multimode fiber optics have a glass core, POF cables have a polymer core. This offers a dynamic application portfolio, along with cost saving
Market participants are diversifying their product portfolio through their innovative offerings. In March 2018, Corning, Inc. launched a new product Corning TXF Optical Fiber that would enable high data-rate transmission over longer spans and extended reach for improved network flexibility and lower network cost
Corning Incorporated, Optical Cable Corporation (OCC), Sterlite Technologies Limited, OFS Fitel, LLC, Prysmian Group, AFL, Birla Furukawa Fiber Optics Limited, Finolex Cables Limited, and Yangtze Optical Fiber and Cable Co., Ltd. (YOFC) among others are the key players in the fiber optics market.