New York, USA, June 29, 2021 (GLOBE NEWSWIRE) – Market overview for 3D printing filaments:
According to a comprehensive research report by Market Research Future (MRFR) “3D Printing Filament Market Information by type, end use and region – forecast to 2025,“The market is projected to reach $ 8.1 billion at 23.7% CAGR by 2025.
Future market growth factors:
3D printing filament is experiencing tremendous demand around the world, as the aerospace and defense industries grow in application for design communication and prototyping. The increasing demand for advanced printing in the automotive industry is also driving market growth. 3D printing filaments developed using plastic are in significant demand due to their low cost, high water resistance, and ease of manufacture. Unlike traditional prints like nylon, composites, and hybrid filament materials, filaments made from plastics use fused filament fabrication methods more effectively to create prototypes for the automotive, industrial, aerospace and defense industries.
Technological trends as well as a growing focus of the players on product development in the 3D printing filament industry are also driving growth worldwide. Emerging countries such as India, Brazil, China, Malaysia and South Korea are currently among the leading component manufacturers in the automotive, aerospace, defense, healthcare and industrial sectors and therefore offer suppliers in the 3D sector numerous attractive opportunities for the printing filament market.
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Key Players Locking Horns:
Leading Companies In The 3D Printing Filament Market Are:
- DSM (Netherlands) – Novamid
- Arkema SA (France) – Kepstan
- Evonik Industries AG (Germany) – VESTAKEEP
- Markforged, Inc (USA) – Onyx
- Stratasys Ltd (Israel) – ABSi
- Hart, SABIC (Saudi Arabia) – CYCOLAC
- Clariant (Switzerland) – ESD-safe PET-G
- DowDuPont Inc (USA) – Hytrel
- Eastman Chemical Company (USA) – Amphora 3D polymer
- Merck KGaA (Germany) – 3DXTech ABS
- BASF SE (Germany) – Ultrafuse 316L
The 3D printing filament industry is full of a number of players who indulge in intense competition. Many of these companies focus on conducting extensive research and development activities in order to bring new products with diverse applications to the market. Leading companies are also pursuing a range of organic and inorganic growth tactics, such as mergers and acquisitions, innovative product launches and expansions, to increase their share of the global industry.
Material type and end-use industry are the top market segments identified in the MRFR report.
The different types of materials analyzed are sandstone, polyethylene terephthalate (PET), carbon fiber, polyvinyl alcohol (PVA), acrylonitrile butadiene styrene (ABS), nylon, polylactic acid (PLA) and others. The other segment can be divided into amphorae, PETG, conductive PLA, flexible / TPE, PETT, magnetic iron PLA, wood and more. The ABS segment has remained the leader since 2018 and had the largest share of 3% this year due to the increasing demand for renewable and sustainable plastic solutions. The properties of ABS, which allow the 3D printing filament to be incorporated into shock-absorbing components across multiple end-user industries, are also fueling the segment’s growth.
The major end users in the industry are healthcare, automotive, electrical and electronics, aerospace, defense, and others. Aerospace & Defense is the dominant market segment given the increasing production of military and commercial aircraft. The segment had a share of more than 30% of the world market in 2018.
Browse through the detailed market research report (180 pages) 3D printing filament: https://www.marketresearchfuture.com/reports/3d-printing-filament-market-8427
North America, with its highly developed 3D printing manufacturing sector and an emphasis on the use of renewable energy sources, remains a strong competitor in the world market. The robust aerospace industry and high demand for filaments for 3D printing remain a strong asset that gives the region the upper hand in the global market. The US market has an impressive CAGR over the forecast period as the focus on improving aerospace and defense components and numerous end-user industries increasingly demand sustainable and environmentally friendly parts.
Europe is the second most lucrative market, thanks to the large automobile production and the great emphasis on the production of renewable energies. The surge in innovation as well as research and development activities for the production of biodegradable and multifunctional 3D filaments will also ensure massive sales in the years to come. Strict environmental regulations in Europe have also helped increase the growth potential of the market for biodegradable 3D printing filaments.
However, the Asia-Pacific market is the largest market and was able to secure a share of more than 35% in 2018. The APAC market will maintain its winning streak throughout the reporting period, largely due to the rampant use of 3D printing filaments in the automotive industry for the manufacture of lightweight electric vehicles. The aerospace sector is also an important end user in the region. Large countries in the region such as China, Japan, South Korea, and India are constantly working to improve their 3D printing skills, with some of them investing heavily in a number of 3D printing projects.
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Nanoe has released a filament for its Zetamix H13, which is part of the company’s extensive Zetamix line. This line already has aluminum oxide, stainless steel and zirconium oxide filaments and is perfectly compatible with many of the filament extrusion 3D printers. This introduction is designed to help Nanoe make H13-3D printing available to every business in the market. The H13 Zetamix filament is known to be compatible with all types of FFF 3D printers and to only require a single thermal post-processing step in a tube furnace to achieve a density of over 90%.
Braskem has made its polypropylene 3D printing filament from Braskem available in the M. Holland eStore. The new launch includes two advanced grades of polypropylene 3D printing filaments for the manufacture of fused filaments, and the materials are designed for both personal and industrial 3D printing.
Developments after the outbreak of COVID-19
Several key end-user industries in the 3D printing filament market such as healthcare, aerospace and defense, electrical and electronics, automotive, and others have been hit hard by the COVID-19 pandemic, resulting in weakened demand. The global lockdown has reduced the workforce in the production units, which has resulted in reduced production capacity. The novel coronavirus has also presented the actors with challenges in the form of lost revenue, debt, weaker supply chains, to name just a few.
The accelerated cases of SARS-CoV-2 have forced manufacturers to adhere to strict safety standards and maintain efficient communication as the focus is on employee health. Vendors are also being pressured to use competitive tactics to maintain their position in the market while facing the obstacles that are emerging due to the COVID-19 outbreak.
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