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Market Analysis
The global 3D printing filament market is estimated to touch USD 8.06 billion at a 23.03% CAGR between 2023-2030, reveals the Market Research Future (MRFR) report. 3D printing filaments are used for manufacturing different 3D components for their application in various end use industries. Owing to its alluring features such as flexibility, excellent toughness, minimal shrinkage, high-temperature resistance, durability, and excellent strength, 3D printing filament finds wide application in healthcare, automobile, and aerospace industries.
Numerous factors are adding to the global 3D printing filament market growth. Such factors, according to the recent MRFR report, include the growing demand for environmentally-friendly products, rising consumption of electronics, and increasing emphasis on end use industries towards 3D printing technologies. Rapid urbanization and favorable government policies in South Korea, South Africa, Brazil, China, and India are also adding market growth.
On the contrary, highly expensive manufacturing process and high energy consumption are factors that may limit the global 3D printing filament market growth over the forecast period.
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Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global 3D printing filament market based on material type and end use industry.
By material type, the 3D printing filament market is segmented into carbon fiber, nylon, sandstone, polyethylene terephthalate (PET), polyvinyl alcohol (PVA), polylactic acid (PLA), acrylonitrile butadiene styrene (ABS), and others. Others have been segmented into amphora, flexible/TPE, conductive PLA, magnetic iron PLA, wood, PETT, and PETG. Of these, the ABS segment will lead the market over the forecast period for its renewable thermoplastic property that provides the elastomeric base over the polybutadiene that offers low cracking over stress, resistance to shock, and better flexibility. These properties allow acrylonitrile butadiene styrene to be used in numerous end use industries in shock-absorbing components.
By end use industry, the 3D printing filament market is segmented into electrical and electronics, automotive, healthcare, aerospace and defense, and others. Others are segmented into packaging, consumer goods, energy, construction, food and beverage, and others. Of these, aerospace and defense will dominate the market over the forecast period for the rising production of aerospace (military and commercial), increasing demand for commercial and defense aircraft in Brazil, China, and India, and paradigm shift in the manufacturing process and engineering design.
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Key Players
Regional Analysis
By region, the global 3D printing filament market report covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will spearhead the market over the forecast period. Factors adding to the growth of the 3D printing filament market in the region include an increase in the region’s aerospace sector, burgeoning demand for 3D printing filament to manufacture automotive particularly e-vehicles for lightweight properties, and rapid increase of 3D printing capabilities by major economies such as South Korea, India, Japan, and China.
The 3D printing filament market in North America is predicted to have significant growth over the forecast period for the rapidly growing aerospace sector, increasing focus on renewable energy sources, and the presence of a well-developed 3D printing manufacturing industry.
The 3D printing filament market in Europe is predicted to have favorable growth over the forecast period for increasing emphasis on renewable energy production and high automation production.
The 3D printing filament market in Latin America will have steady growth over the forecast period for a comparatively small yet rapidly growing automotive industry.
The 3D printing filament market in the MEA is predicted to have healthy growth over the forecast period for the rising number of automotive industries.
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Industry News
February 2020: The US ARL (Army Research Laboratory) will soon create an eco-friendly alternative with 3D printing made from recycled plastic waste. This process includes milling materials into the twin-screw extruder, and the powder made in it will be melted into a 3D printing filament.
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