Just last week, Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai as well as the Prime Minister and Vice President of the United Arab Emirates (UAE), inaugurated the first functional office building in the world made with the help of 3D printing technology. A small group of employees has already begun moving into the building, which was built at a cost of US$140,000 and in a matter of just 17 days.
This remarkable development truly emphasizes on the potential of 3D printing materials in revolutionizing the medical, automotive, construction, development, aerospace, and consumer goods sectors in the Middle East. Three-dimensional printing materials include poly lactic acid (PLA), nylon, ceramics, acrylonitrile butadiene styrene (ABS), and high-impact polystyrene (HIPS) and polyvinyl alcohol (PVA).
In a report on Market Research Reports Search Engine, it has been estimated that from 2015 to 2025, the Middle East 3D printing materials market will expand at a 16.7% CAGR in terms of value and at an 11.2% CAGR in terms of volume. The report has been published by Future Market Insights.
Emergence of 3D Printing Technology-based Startups Present Lucrative Opportunities
The Middle East 3D printing materials market is fueled by a number of factors such as the increasing number of retail opportunities in the region, the low cost of production output, and the emergence of new supply chains. The establishment of several 3D printing manufacturing units in the region, coupled with the surge of 3D printing technology-based startups, has also significantly bolstered the 3D printing materials market in the Middle East. In addition, there has been a growing demand for cost-effective replacement organs in the healthcare sector, which in turn, has resulting in the rising demand for 3D printing technology and materials.
In contrast, the high cost of 3D printing materials is likely to play spoilsport in the Middle East 3D printing materials market.
UAE to Remain Dominant in GCC 3D Printing Materials Market
The Middle East 3D printing materials market has been bifurcated on the basis of region into Levant and GCC. The GCC market for 3D printing materials comprises the UAE, Qatar, Bahrain, the Kingdom of Saudi Arabia, Oman, and Kuwait. Among these, the UAE has been leading the GCC 3D printing materials market in terms of value and is likely to continue doing so over the decade. The Levant market for 3D printing materials comprises Egypt, Israel, Cyprus, Turkey, Jordan, and rest of Levant, including Palestine, Syria, and Iraq. Israel is projected to witness the strongest and fastest growth in terms of value in the coming years, registering an impressive 20.4% CAGR from 2015 to 2025.
Browse Full Middle East 3D Printing Materials Market Report with TOC :http://www.mrrse.com/middle-east-3d-printing-materials-market
Both, the GCC and the Levant markets for 3D printing materials boast of a number of leading players who are focused on strategic collaborations with local retailers and distributors. Some of the prominent companies operating in the Middle East 3D printing materials market are Stratasys Ltd., 3D Filament Manufacturing, Coex LLC, MatterHackers Inc., ExOne Co., 3D Systems, and Beijing Tiertime Technology Co., Ltd.