According to the new market research report “3D Printing Filament Market by Type (Plastics, Metals, Ceramics), End-Use Industry (Aerospace & Defense, Medical & Dental, Automotive, Electronics), Region (North America, Europe, Asia Pacific, Mea, South America), and region – Global Forecast to 2025″, The 3D printing filament market in 2020 is estimated at USD 739 million and is projected to reach USD 2,552 million by 2025, at a CAGR of 28.1% from 2020 to 2025. Rising demand for mass customization across the end-use industries has been the major driver for the growth of the 3D printing filament market in order to provide easy production of complex geometries. FDM/FFF technology is the widely adopted printing method along with low price of printers and materials in comparison to other methods. Furthermore, outbreak of COVID-19 pandemic is anticipated to fuel the consumption of 3D printed products from FDM process in medical applications.
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The aerospace & defense segment is estimated to lead the 3D printing filament market in 2020 in terms of value, due to the rising demand for lightweight and high strength printing material for mass customization of aerospace components and parts. Aerospace industry was the early adopter of 3D printing technologies for prototyping and commercial production of components and parts made from plastics and metals. Moreover, despite lockdown in several countries and restriction on travel and trasporation, manufacturer of aerospace parts and aircrafts gradually continue to operate their businesses. Although defense industry is a small consumer of 3D printing filaments, however, the industry has an undisrupted supply of filaments for use in prototyping spacecraft components despite the impact of COVID-19 outbreak.
Based on type, the metals segment is estimated to witness highest growth in the 3D printing filament market during the forecast period. Properties such as high material strength along with resistance high temperature and lightweight are the factors fueling the adoption of metals in the 3D printing filament market. Various metals such as titanium, stainless steel, and aluminum are widely used in printing complex structures for prototyping and manufacturing objects for industries such as aerospace and automotive. Aerospace industry, an early adopter of 3D printing materials and technology, is the largest consumer of metal filaments in the 3D printing filament market. Increasingly stringent environmental guidelines across developed and developing economies for the use of plastics, have accelerated the adoption and growth of metal filaments in the production of 3D printed objects used in education and consumer goods.
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The 3D printing filament market is estimated at USD 739 million in 2020 and is projected to reach USD 2,552 million by 2025, at a CAGR of 28.1% from 2020 to 2025. The plastics segment is estimated to lead the 3D printing filament market in 2020, owing to increasing demand ABS and PLA materials to print objects across the end-use industries. In addition,high demand for plastics in the production of medical components and devices due to outbreak of COVID-19 is anticipated to fuel the growth of 3D printing filament in the plastics segment. 3D printing filament has played an important role in the production of medical components such as swabs, face masks, and ventilator splitters
Major companies such as Stratasys Ltd. (US), 3D Systems Corporation (US), Koninklijke DSM N.V. (Netherlands), Materialise NV (Belgium), Evonik Industries AG (Germany), Arkema SA (France), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), DuPont de Nemours, Inc. (US), BASF 3D Printing Solutions GmbH (Germany), HP Inc. (US), EOS GmbH – Electro Optical Systems (Germany), Shenzhen Esun Industrial Co., Ltd. (China), CRP Technology S.r.l. (Italy), EnvisionTEC GmbH (Germany), Oxford Performance Materials, Inc. (US), and MG Chemicals (Canada) among others are key players in the 3D printing filament market. These players have been focusing on developmental strategies, such as acquisitions, partnerships, collaborations, expansions, agreements, and new product developments & launches, which have helped them expand their businesses in untapped and potential markets. They have also been adopting various organic and inorganic growth strategies, such as agreements, new product developments, acquisitions, and partnerships, to enhance their current position in the 3D printing filament market.
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Stratasys Ltd. is one of the leading providers of 3D printing solutions for rapid prototyping and direct digital manufacturing (DDM). It also develops, manufactures, and markets materials such as metals, plastics, and ceramics for the 3D printing marketplace, along with the related services. The company provides two major 3D printing technologies: Fused Deposition Modeling (FDM) and PolyJet. As of 31 December 2019, Stratasys held approximately 1,000 granted patents and has approximately 500 pending patent applications worldwide.
3D Systems Corporation offers comprehensive 3D printing solutions and is a leading global additive manufacturing solutions company. The company continues to develop new materials across its plastics portfolio to address a broader set of production applications. Further, 3D Systems has planned several innovations for its plastics materials portfolio designed to help manufacturers address a broader portfolio of applications. It offers its 3D printing solutions to markets such as aerospace, automotive, medical, dental, and consumer goods.
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