New York, US, June 29, 2021 (GLOBE NEWSWIRE) -- 3D Printing Filament Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “3D Printing Filament Market Information by Type, End-Use, and Region - Forecast till 2025,” the market is projected to reach USD 8.1 Billion by 2025 at 23.7% CAGR.
Future Market Growth Factors:
3D printing filament is witnessing a humungous demand worldwide, in line with the expanding application scope in the aerospace and defense sector for design communication as well as prototyping. Mounting demand for advanced print in the automotive industry also pushes the market growth. 3D printing filaments that are developed using plastic note significant demand given their low cost, high water resistance, and the ease of manufacturing property. Unlike traditional printing like nylon, composites, and hybrid filament materials, the filaments made of plastics use fused filament fabrication methods more effectively to make prototypes for automotive, industrial and aerospace and defense fields.
Technological trends along with growing focus of the players on product advancement in the 3D printing filament industry are also spurring growth across the globe. Emerging countries like India, Brazil, China, Malaysia and South Korea are currently some of the leading component manufacturers in the field of automotive, aerospace and defense, healthcare and industrial, and therefore, present a host of attractive opportunities to the vendors in the 3D printing filament market.
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Key Players Locking Horns:
Leading Companies in 3D Printing Filament Market are:
- DSM (The Netherlands) – Novamid
- Arkema S.A. (France) – Kepstan
- Evonik Industries AG (Germany) – VESTAKEEP
- Markforged, Inc (US) – Onyx
- Stratasys Ltd (Israel) – ABSi
- Durus, SABIC (Saudi Arabia) – CYCOLAC
- Clariant (Switzerland) – ESD safe PET-G
- DowDuPont Inc (US) – Hytrel
- Eastman Chemical Company (US) – Amphora 3D polymer
- Merck KGaA (Germany) – 3DXTech ABS
- BASF SE (Germany) – Ultrafuse 316L
The 3D printing filament industry is rife with a number of players indulging in intense competition. Many of these companies are focused on carrying out extensive research and development activities to introduce new products that have multiple applications. Leading companies also adopt a number of organic as well as inorganic growth tactics, such as mergers & acquisitions, innovative product launches and expansions to enhance their share in the global industry.
Market Segmentation:
Material Type and End-use industry are the top market segments listed in the MRFR report.
The different material types analyzed are sandstone, Polyethylene terephthalate (PET), carbon fiber, Polyvinyl Alcohol (PVA), Acrylonitrile Butadiene Styrene (ABS), nylon, Polylactic Acid (PLA), and others. The others segment can be split into amphora, PETG, conductive PLA, flexible/TPE, PETT, magnetic iron PLA, wood, and more. The ABS segment has remained in the lead since 2018 and had captured the biggest share of 3% that year, on account of the escalating demand for renewable and sustainable plastic solutions. ABS’ properties that allow the 3D printing filament to be integrated into shock-absorbing components in several end-use industries also foster the segment’s growth.
The top industry end-users are healthcare, automotive, electrical and electronic, aerospace and defense and others. Aerospace & defense is the dominant segment in the market in view of the increasing production of military and commercial aircraft. The segment had owned more than 30% share in the global market in 2018.
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Regional Status:
North America, with its highly developed 3D printing manufacturing sector and the emphasis on usage of renewable sources of energy, remains a strong contender in the global market. The robust aerospace industry and the high demand for 3D printing filaments remains a strong advantage that gives the region the upper hand in the global market. The US market can experience an impressive CAGR over the forecast period, in view of surging focus on improving the aerospace and defense components and numerous end-use industries increasingly demanding sustainable and eco-friendly parts.
Europe is the second most lucrative market, thanks to the large-scale automobile production along with great emphasis on production of renewable energy. Surge in innovations as well as research and development activities to produce bio-degradable and multi-benefit 3D filaments will also ensure massive revenue generation in the following years. Stringent environmental policies in Europe have also helped boost the growth potential of the bio-degradable 3D printing filament market.
Asia Pacific is however, the biggest market and managed to secure a share of more than 35% in the year 2018. The APAC market will maintain its winning streak throughout the review period, primarily due to the rampant use of 3D printing filaments in the automotive sector, for manufacturing of e-vehicles with lightweight characteristics. Aerospace sector is also an important end-user in the region. Major countries in the region like China, Japan, South Korea and India are constantly working on improving their 3D printing capabilities, with a few of them investing substantially on a number of 3D printing projects.
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Latest Developments:
January 2021
Nanoe has released a filament for its Zetamix H13, part of the company’s extensive Zetamix line. This line already has alumina, stainless-steel and zirconia filaments and is highly compatible with many of the filament extrusion 3D printers. This launch is expected to help Nanoe make H13 3D printing available to any firm in the market. The H13 Zetamix filament is known for being compatible with all types of FFF 3D printers while needing only a single step thermal post-process within a tubular furnace to gain a density of over 90%.
February 2021
Braskem has made available its Braskem polypropylene 3D printing filament on M. Holland's eStore. The new launch comprises two advanced grades of polypropylene 3D printing filaments for fused filament fabrication and the materials have been designed for use in both personal as well as industrial 3D printing applications.
Developments Post COVID-19 Outbreak
Several key end-use industries in the 3D printing filament market like healthcare, aerospace & defense, electrical & electronics, automotive, and more have been deeply affected by the COVID-19 pandemic, resulting in weakened demand. The worldwide lockdown has lowered the workforce across the manufacturing units, leading to reduced production capacity. The novel coronavirus has also thrown challenges at the players in the form of revenue losses, debts, weaker supply chains, to name a few.
The accelerated cases of SARS-CoV-2 have compelled manufacturers to follow strict safety norms and maintain efficient communication, as employees’ health has become the key focus. Vendors are also pressured to adopt competitive tactics to maintain their positions in the market, while facing the obstacles cropping up due to the COVID-19 outbreak.
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