New York (US), April 26, 2023 (GLOBE NEWSWIRE) -- 3D Printing Filaments Market Overview
According to a Comprehensive Report by Market Research Future (MRFR), “3D Printing Filaments Market Information by Material Type, End-Use, and Region - Forecast till 2030", The market for 3D printing filaments will increase from USD 1.54 billion in 2022 to USD 8.06 billion by 2030, with a growth rate of 23.03% from 2022 to 2030.
Market Synopsis
The FFF type of 3D printer uses a specific kind of printing material called 3D printer filament. One of the most popular 3D printing materials worldwide is this one. It is mostly made of thermoplastic. However, metal, ceramics, and other materials are also used to make 3D printing filaments.
3D printing filaments are used to manufacture various 3D components for its application in the end-use industries. Its high strength, toughness, and flexibility have increased its use in aerospace, automobile, and healthcare industries. Some of the primary factors favoring the market growth for the 3D printing filament are increasing automobile production, growing adoption of renewable sources, and surge in demand for high-performance medical devices across the globe.
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Market Competitive Landscape:
The affluent companies in the 3D printing filaments industry are
- Dow, DuPont Inc (US)
- Merck KGaA (Germany)
- Arkema S.A. (France)
- Evonik Industries AG (Germany)
- DSM (The Netherlands)
- Stratasys Ltd (Israel)
- SABIC (Saudi Arabia)
- Clariant (Switzerland)
- BASF SE (Germany)
- Eastman Chemical Company (US)
- Markforged, Inc (US)
- Among others.
| Report Attribute | Details |
| Market Size in 2030 | USD 8.06 billion |
| CAGR | 23.03% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Material Type, End-use, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand for 3D printing in end-use industries is likely to fuel the demand for 3D printing filament |
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The major firms use a variety of market tactics, including investment, innovation, and acquisition. In order to assist their particular markets, the important corporations are also increasing their capacity. Due to the existence of major competitors using the 3D filament printing process to produce better products faster, the market is competitive. The market is defined by the presence of diverse application sectors that are concerned with longer lead times at lower operational costs.
January 2023
AON3D, a leader in high temperature 3D printing technologies, has introduced a new lineup of high-performing materials – AON3D ReadyprintTM 3D printing filaments. These commercial-grade 3D printing filaments make it easier to choose materials and do away with the requirement for sourcing, preparation, and fine-tuning to get excellent results with high-performing materials. To produce high-quality results with high-performance materials, AON3D Readyprint eliminates the difficulties of sourcing, conditioning, and fine-tuning process settings.
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Market USP Covered:
Market Drivers:
The development of aerospace and defense components as well as the acceptance of environmentally friendly components worldwide are projected to present growth prospects. For instance, NASA (National Aeronautics and Space Administration) uses a 3D printer to quickly produce space components and parts, whereas traditional manufacturing would take months or years to complete before being sent into orbit.
Increased innovation and R&D in 3D printing filaments, such as multi-property materials and bio-degradable 3D filaments, is drawing industry participants to invest in the same. The market for bio-degradable 3D printing filaments is also expanding as a result of the severe environmental laws implemented by European nations.
Due to their low cost, water resilience, and ease of manufacture, plastic 3D printing filaments are utilized extensively. Contrary to conventional printing, which employs materials like composites, nylon, and other hybrid filaments, fused filament manufacturing processes produce prototypes for aerospace and military, automotive, and industrial application segments more quickly.
Market Restraints:
The market's expansion is being hampered by the 3D printing technology' high capital investment needs and many companies facing budgetary constraints in this scenario.
Having said that, future growth prospects for the 3D printing filament market may come from innovations in 3D printing for the medical industry and improvements in 3D printing materials.
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COVID 19 Analysis
The COVID-19 pandemic has thrown the globe into a crisis that is still developing due to the widespread confusion it has caused. Supply chains have been hampered by logistical issues brought on by production and transportation delays, as well as opposition to free trade and globalization, which has led to severe shortages of items that are vital to life. The fight to increase the number of beds, resources, and skilled personnel in healthcare institutions is on. The lack of urgently required medical supplies is being addressed via crisis response initiatives.
Three-dimensional printing's digital adaptability and speedy prototyping enable quick technological mobilization and, as a result, quick responses to catastrophes. Critical parts may be produced on-demand by any decentralized 3D printing facility in the globe by utilizing online blueprints even amid severe supply chain interruptions. Additionally, 3D printing's additive properties allow for sophisticated designs and product customization. Personal protection equipment (PPE), medical and testing equipment, personal accessories, visualization aids, and emergency housing are just a few of the many 3D-printing applications being used in the fight against COVID-19. For the 3D printing filaments sector, this will ensure consistent growth.
Market Segmentation
By Material Type
With respect to the material type, the 3D printing filaments market can be segregated into ABS, Polylactic Acid, Polyvinyl Alcohol, Polyethylene Terephthalate, Sandstone, Nylon, Carbon Fiber, and Others. In 2021, the ABS category retained a lion's share of the market, accounting for over 32.33% of the revenue generated by 3D printing filaments. ABS filament is a fantastic option for industrial applications since it provides a wide variety of mechanical characteristics. It is ideal for making plastic products for a range of industrial uses. ABS plastic is a reliable material for quickly and effectively building a variety of industrial items, from prototypes to crucial components.
By End-use
Top end-users of 3D printing filaments include aerospace and defense, healthcare, automotive, electrical & electronics, and others. In 2021, the Aerospace & Defense category led the market, but over the forecast period, 2022–2030, the Healthcare segment is anticipated to develop more quickly. This is because the medical and dentistry industries are able to use 3D printing technology with various materials to create tissues and organoids, surgical equipment, patient-specific surgical models, and bespoke prostheses. The growth and development of the sector are greatly aided by these 3D-printed items. Thus, expanding use of 3D printing filaments in healthcare, aerospace, and the military will favorably affect market expansion.
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Regional Insights
In 2021, the Asia-Pacific 3D Printing Filaments market had a value of USD 0.45 billion, and during the research period, it will expand at a rate of 23.64%. This is explained by the fact that the aerospace and military, automotive, and other industries are expanding rapidly in China, India, and Indonesia, which is driving up demand for 3D printing filaments. The price reduction and quick acceptance of 3D printing technology from the prototype stage through product design, concept modeling, and final product manufacturing have resulted in a significant increase in the demand for 3D printing materials. The early acceptance and effective use of superior 3D printing technology in the area, together with the significant number of businesses, are credited with its success.
The market share for 3-D printing filaments held by the Europe region is between 22% and 40%. As of June 2021, Europe spent EUR 265 (about USD 278.47) per capita on medical technologies. In addition, the average amount of GDP spent on healthcare in Europe as of June 2021 was 11%.
Over 33,000 medical technology businesses are present in Europe, according to MedTech Europe. Germany is where the most of them are, followed by Italy, the UK, France, and Switzerland. In the medical technology sector, SMEs account for over 95% of all businesses. More than 2,300 businesses make up the German aerospace sector, with the biggest concentration of businesses found in northern Germany. The nation has several production facilities for materials and parts used in aircraft interiors, the majority of which are located in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern.
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