The 3D Printing Filament Market is expected to be valued at USD 8.1 billion by 2030, growing at a 23% CAGR over the forecast period (2022 – 2030). The growing use of 3D printing in a variety of end-use sectors allows us to create multi-property elements and supplies using 3D printing filaments produced from different materials that can provide high-performance components to businesses. The item is extensively preferred because of its exceptional rigidity and adaptability, as well as its remarkable toughness, endurance, high endurance, and negligible shrinkage. Among the major applications for 3D printing filament include the development of elastic parts such as wearables, aircraft and automobile parts, among others.
The FDM/FFF method utilises filaments produced from less costly substances such as plastics, metals, and ceramics than some other kinds of material for 3D printing. These filaments can be used to build complex pieces. As a direct consequence, increasing adoption of customised products from industries such as aerospace is a major factor driving growth in the 3D printing filament industry. The rapidly increasing use of 3D printing filament for design connectivity and prototypes in the aerospace and defence sectors is gaining traction. Moreover, the market is expanding due to a growing focus on quality printing in the automobile sector.
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The key factors that drive product demand are rising requirements for sustainable and environment-friendly goods over petrochemical goods; a strong emphasis by end-use sectors on 3D printing innovations, particularly in aerospace and consumer products; rising usage of electronics; and the global expansion of the automobile sector. Moreover, the production process for 3D printed pieces is extremely costly and requires a lot of resources, which could be a reason for the slow growth the market is anticipated to witness.
In 2018, Asia-Pacific dominated the market with more than 35%, and is expected to keep that position throughout the forecast period. This is mainly because of the significant demand for the item in the production of automobiles, particularly e-vehicles for ultra-light characteristics, as well as a rise in the area’s aerospace industry. Furthermore, Asian nations such as China, India, Japan, and South Korea are aggressively expanding their 3D printing abilities.
The North American market is expanding due to a thriving 3D printing industry and a strong focus on sources of renewable energy. Furthermore, the expansion of the aerospace industry is expected to increase product demand in the regional sector.
High automobile manufacturing and an emphasis on renewable energy yield are pushing market expansion in Europe.
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By material type, the market can be segmented into Acrylonitrile Butadiene Styrene (ABS), Polylactic Acid (PLA), Polyvinyl alcohol (PVA), Polyethylene terephthalate (PET),Sandstone,Nylon, Carbon Fibre and others. In terms of end-users, the 3D printing filament market is classified as Aerospace & Defense, Healthcare, Automotive, Electrical & Electronics, among others.
Some of the key players in the market are –
DowDuPont Inc (US) – Hytrel,Merck KGaA (Germany) – 3DXTech ABS,Arkema S.A. (France) – Kepstan,Evonik Industries AG (Germany) – VESTAKEEP,DSM (The Netherlands) – Novamid,Stratasys Ltd (Israel) – ABSi, Durus,SABIC (Saudi Arabia) – CYCOLAC,Clariant (Switzerland) – ESD safe PET-G,BASF SE (Germany) , Ultrafuse 316L,Eastman Chemical Company (US) , Amphora 3D, polymer, Markforged, Inc (US) – Onyx.
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