Pune, India, Dec. 27, 2021 (GLOBE NEWSWIRE) -- The global 3D printing filament market reached a value of USD 968 Million in 2021 at a CAGR of 31.10% during the forecast period, as per a market analysis by Quince Market Insights. The demand for the 3D printing filament is mainly driven by increasing use in aerospace and defense industry for design communication and prototyping. Apart from this the rising demand for the high-quality print in industrial and automotive application is also driving the market.
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3D printing filament is basically a thermoplastic feedstock for fused deposition modelling. The use of over one filament for printing various materials at a time is a prime factor driving the market growth. There are various types of filaments having different properties and need different temperature to print. This filament helps during the time of production of complex structured objects. The 3D printing technology is widely used in large and small industries which boost the development of the 3D printing filament market.
The expansion of the global 3D printing filament market is aided by rising awareness of 3D printing technology and its implementation in big and small businesses. The need for functional and high-performing prints also adds to the market's growth. In addition, increased applications in end-use sectors like as aerospace and military, consumer goods, automotive, and others have fuelled the 3D printing filament market. The demand for improved filament material to generate high-quality prints has increased. As a result, manufacturers are putting money into researching better filament materials.
This had a positive influence on the 3D printing filament market, resulting in market expansion. In addition, the availability of bio-degradable 3D filaments has piqued the interest of a number of businesses and enthusiasts. This has aided in the expansion of the 3D printing sector, allowing the global 3D printing filament market to expand. The 3D printing filament market's growth has been aided by the existence of many raw material suppliers.
However, because 3D printing technology is relatively expensive when compared to alternative possibilities, demand for the product is decreasing as a result of the crisis. However, the drop in demand is only temporary, as it is one of the most effective methods for businesses to reduce their reliance on equipment and raw material providers.
COVID 19 Impact on Global 3D Printing Filament Market
The outbreak of COVID-19 had a small impact on the 3D printing filament market, as most 3D printing filament production plants are in countries where the coronavirus is prevalent. Medical components and equipment such as swabs, face masks, and ventilator splitters are in great demand, thus 3D printing filament makers are now selling their materials for printing medical equipment. To fulfil medical emergency demands, a number of end-users have shifted their production priorities. In the medical field, this opens up new possibilities for 3D printing filaments.
Global 3D Printing Filament Market, by Type
Based on the type, the global 3D printing filament market is segmented into plastics, metal, ceramics. Plastics segment is further bifurcated into polyethylene terephthalate (PET), polylactic acid (PLA), acrylonitrile butadiene styrene (ABS), photopolymer, others. Metal segment is further classified into aluminum, titanium, stainless steel, nickel, others. Ceramics segment is further divided into fused silica, glass, quartz, others.
Plastic segment is projected to hold the largest market share. By far, the most common filament types are acrylonitrile butadiene styrene (ABS) and polylactic acid (PLA). Most basic 3D printers use filaments made from these plastics. PLA has a relatively low melting point, with usable temperatures between 180 degrees and 230 degrees celsius. It is plant-based and biodegradable. It's harder than ABS and is generally easy to work with. PLA is often used as the base material for more exotic, composite materials.
Global 3D Printing Filament Market, by End User
Based on the type, the global 3D printing filament market is segmented into aerospace & defense, medical & dental, automotive, electronics, others. Among these, aerospace and defense segment is projected to witness fastest growth owing to the rising demand for the lightweight and high strength printing material for mass customization of aerospace parts and components.
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Global 3D Printing Filament Market, by Region
Based on the region, the global 3D printing filament market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America. Asia Pacific is anticipated to witness fastest market growth. As a consequence of prices drop and quick acceptance of 3D printing technology from prototype, product design, and concept modelling to final product manufacture, the need for 3D printing material is increasing significantly. Early acceptance and development of superior 3D printing technology, as well as a significant presence of manufacturers in the region, are credited for the region's success.
Some Recent Developments in the Global 3D Printing Filament Market:
- In June 2020, Koninklijke DSM N.V. (Netherlands) had agreed to take over certain parts of Clariant AG's (Switzerland) 3D printing business portfolio to improve speedy market-driven product development solutions. DSM acquired Clariant's 3D printing materials business, allowing it to manufacture high-performance filaments and pellets quickly based on application needs. As a result of the strategy, DSM's engineering grade filament, pellet, and powder portfolio will be reinforced.
- In April 2020, Stratasys Ltd. and Origin (Israel) had created a strategic partnership to provide the healthcare industry with 3D printed nasopharyngeal swabs. As part of this partnership, the company will sell and market Origin 3D printed nasopharyngeal swabs to healthcare practitioners and testing centres in the United States. This partnership aims to boost the company's position in the healthcare business and expand its commercial uses.
- In February 2020, Sanmina Corporation (US) and 3D Systems Corporation (US) had extended their collaboration in the development of plastic 3D printing systems. The company already has a working relationship with Sanmina for the creation of the Figure 4 platform. The company will be able to focus even more on its core strengths of plastics materials and application development thanks to this new contract.
Some Major Findings of the Global 3D Printing Filament Market Include:
- Profiles of major market players operating in the global 3D printing filament market include Koninklijke DSM N.V (Netherland), Materialise NV (Belgium), Evonik Industries AG (Germany), Arkema SA (France), Saudi Basic Industries (Saudi Arabia), Corporation (SABIC) (Saudia Arabia), DuPont de Nemours, Inc. (U.S.), BASF 3D Printing Solutions GmbH (Germany), HP Inc. (U.S.), EOS GmbH - Electro Optical Systems (Germany), Shenzhen Esun Industrial Co., Ltd. (Shenzhen), CRP Technology (Italy), S.r.l. (India), , Oxford Performance Materials, Inc., EnvisionTEC GmbH (U.S.), Others
- Impact of COVID-19 on the global 3D printing filament market.
To know more about this topic, please check report titled, “3D Printing Filament Market, by Type (Plastics {Polyethylene Terephthalate (PET), Polylactic Acid (PLA), Acrylonitrile Butadiene Styrene (ABS), Photopolymer, Others}, Metal {Aluminum, Titanium, Stainless Steel, Nickel, Others}, Ceramics {Fused Silica, Glass, Quartz, Others}), End-Use Industry (Aerospace & Defense, Medical & Dental, Automotive, Electronics, Others), Region (North America, Asia Pacific, Europe, Middle East & Africa, South America)” in-depth analysis along with the table of contents (ToC).
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