SAN FRANCISCO, December 16, 2020 / PRNewswire / – 3D Printing Filaments Market Expected to Reach Global Size $ 1.9 billion According to a new report from Grand View Research Inc., the market is expected to grow at a CAGR of 18.8% from 2020 to 2027 through 2020. Increasing improvements in aerospace and defense components, parts and prototype models are expected to fuel demand for 3D printing filament in the estimated time. In addition, the increasing demand for durable and lightweight body parts for automobiles such as front splitters, front and rear bumper covers should support the market growth in the estimated time.
Key suggestions from the report:
- For the plastics segment, a CAGR of 19.0% is expected in the forecast period due to its lightweight and cost-effective applications in various industries such as automotive, aerospace, defense and medicine
- In 2019, the polylactic acid (PLA) segment dominated the market with a revenue share of 39.7% and is likely to grow significantly in the estimated duration. Made from renewable raw materials like corn starch, its use is likely to increase due to its biodegradable nature
- The aerospace and defense application segment was rated with $ 125.2 million in 2019 and is expected to generate a higher share of sales in the coming period due to the increasing demand for precision parts and components in aircraft
- in the Asia PacificIt is expected that the market will accelerate significantly in the estimated time due to increasing industrial manufacturing China, India, Japan, and South Korea. For example the government of China In 2017, an action plan to develop the additive manufacturing industry was released, which provides a strategic roadmap for the adoption of 3D filament printing in the nation
- Technical know-how as well as research and development for strong and durable components offered by the players are likely to influence the market
Read 100-page research report with ToC on “3D Printing Filament Market Size, Share and Trends Analysis Report By Type (Plastics, Metals, Ceramics), By Plastic Type (Polylactic Acid, ABS), By Application (Industry, Aerospace & Defense) , By region and segment forecast, 2020 – 2027 ” at: https://www.grandviewresearch.com/industry-analysis/3d-printing-filament-market
The introduction of 3D printing to manufacture high performance components in aerospace and defense aircraft exposed to high pressure and temperature is the main driver of the market growth. In addition, low volume parts and low processing costs in the aerospace industry are expected to have a positive impact on the market. In addition, new design possibilities in connection with the application of robotics to the manufacture of end arm tools should influence the market in the planned years.
Technological advancement in the automotive industry includes body panels such as front and rear bumpers, interiors and tooling designs. The 3D printers support the entire vehicle manufacturing process and lead to the most advantageous and time-saving process in the automotive industry. Commonly printed parts in the automotive industry include brackets, fasteners, and front and rear bumper parts that have strong and durable properties. Plastic 3D printing filaments are widely used because of their low processing cost and ease of manufacture.
Prominent market players are focused on improving prototyping lead time during the manufacturing process. Various uses of 3D printing filaments include design, medicine, and prototyping and manufacturing.
Grand View Research has segmented the global 3D Printing Filament Market by Type, Plastic Type, Application, and Region:
- 3D Printing Filament Type Outlook (Revenue, $ Mn, 2016-2027)
- 3D Printing Filament Plastic Type Outlook (Sales, USD Million, 2016-2027)
- Polylactic acid (PLA)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyethylene terephthalate glycol (PETG)
- Acrylonitrile styrene acrylate (ASS)
- Outlook for the application of 3D printing filaments (sales, million USD, 2016-2027)
- Aerospace & Defense
- Regional Outlook for 3D Printing Filaments (Revenue, Million USD, 2016-2027)
- North America
- United Kingdom
- Asia Pacific
- Central & South America
- Middle East & Africa
List of the major players in the 3D printing filament market
- Höganäs AB
- 3D Systems Corporation
- General Electric
- Arkema SA
- Royal DSM NV
- Stratasys, Ltd.
- Evonik Industries AG
- Ark AB
Additional research reports on Advanced Interior Materials Industry from Grand View Research:
- 3D Printing Materials Market – The global 3D Printing Materials market size has been estimated at $ 845.7 million in 2018 with a CAGR of 23.9% in the forecast period.
- 3D Printing Ceramics Market – The global 3D Printing Ceramics market size has been rated with USD 20.6 million in 2018 and is expected to escalate with a lucrative CAGR of 34.0% from 2019 to 2025.
- Coated Paper Market – The global coated paper market size has been estimated at $ 27.3 billion The increasing demand for advertising and packaging in various industries will drive product demand over the forecast period.
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Grand View Research, a US-based research and advisory firm, provides syndicated and bespoke research reports and advisory services. Registered in California and headquartered in San FranciscoThe company comprises over 425 analysts and consultants and expands its extensive database by more than 1200 market research reports every year. These reports provide detailed analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess the opportunities ahead.
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