With the increasing requirement for the mass customization of various products, the global 3D printing filaments market is expected to witness a monumental 26.8% rise in its revenue during 2020 and 2030. At this CAGR, the market will grow from $693.1 million in 2019 to $7,082.0 million by 2030. As mass customization adds value to the goods produced and makes the consumers’ experience better, the adoption of this concept is increasing.
The increasing usage of mass customization drives the 3D printing filaments market, as the adoption of this technique in the process is rising. With 3D printing, products can be customized without additional costs, as the technique eliminates the requirement for separate tooling and molds. Only the 3D file of the product needs to be updated and the data fed to the 3D printer, to create a single or multiple part at the same cost.
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Geographically, Asia-Pacific (APAC) is expected to showcase the fastest growth in the coming years, due to the increasing manufacturing operations in the region, mainly in China, and government support to utilize the latest technology. In addition, the presence of big automotive companies, such as Toyota Motor Corporation and Hyundai Motor Company, , and growing healthcare sector across the region are also boosting the demand for 3D printing filaments.
Stratasys Ltd., 3D Systems Corporation, Airwolf 3D, ColorFabb B.V., Markforged Inc., Push Plastic, Shenzhen Esun Industrial Co. Ltd., Solidspace Technology LLP, TreeD Filaments, Innofil3D BV, Koninklijke DSM N.V., Evonik Industries AG, DuPont de Nemours Inc., SABIC, and Huntsman Corporation are some of the key players operating in the 3D printing filament industry.
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