According to the new market research report 3D Printing Filament Market by Type (Plastics, Metals, Ceramics), End Use Industry (Aerospace & Defense, Medical & Dental, Automotive, Electronics), Region (North America, Europe, Asia Pacific, Mea, South America), and Region – Global forecast to 2025 ″The 3D Printing Filament Market is estimated at $ 739M in 2020 and is projected to reach $ 2,552M by 2025, with a CAGR of 28.1% from 2020 to 2025. The increasing demand for mass customization in the end-use industries has been the Main driver for the growth of the 3D printing filament market to enable the easy manufacture of complex geometries. FDM / FFF technology is the most widely used printing process, along with a low price for printers and materials compared to other processes. In addition, the outbreak of the COVID-19 pandemic is expected to spur the consumption of 3D printed products from the FDM process in medical applications.
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The Aerospace & Defense segment is expected to be the value leader in the 3D printing filament market in 2020 due to the increasing demand for lightweight, high-strength printing materials for the mass customization of aerospace components and parts. The aerospace industry was the early adopters of 3D printing technologies for the prototyping and commercial production of components and parts made from plastics and metals. In addition, despite the lockdown in several countries and the restriction on travel and transportation, aerospace parts and aircraft manufacturers are gradually continuing to do business. Although the defense industry is a small consumer of 3D printing filaments, despite the impact of the COVID-19 outbreak, the industry has an uninterrupted supply of filaments for use in prototyping spacecraft components.
Depending on the type, the metal segment is expected to have the highest growth in the market for 3D printing filaments during the forecast period. Properties such as high material strength as well as high durability and low weight are the factors that promote the acceptance of metals in the 3D printing filament market. Various metals such as titanium, stainless steel and aluminum are widely used to print complex structures for prototyping and making objects for industries such as aerospace and automotive. The aerospace industry, an early adopter of 3D printing materials and technologies, is the largest consumer of metal filaments in the 3D printing filament market. Increasingly stricter environmental regulations for the use of plastics in developed and developing economies have accelerated the adoption and growth of metal filaments in the manufacture of 3D printed objects for education and consumer goods.
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The 3D printing filament market is estimated at $ 739 million in 2020 and is expected to reach $ 2,552 million by 2025 at a CAGR of 28.1% from 2020 to 2025. The plastics segment is expected to lead the 3D printing filament market in 2020. Due to the increasing demand for ABS and PLA materials for printing objects in the consumer industry. In addition, the high demand for plastics in the manufacture of medical components and devices due to the COVID-19 outbreak is expected to fuel the growth of 3D printing filaments in the plastics segment. 3D printing filaments have played an important role in the manufacture of medical components such as swabs, face masks, and breathing splinters
Big companies like Stratasys Ltd. (USA), 3D Systems Corporation (USA), Koninklijke DSM NV (Netherlands), Materialize NV (Belgium), Evonik Industries AG (Germany), Arkema SA (France), Saudi Basic Industries Corporation (SABIC)) (Saudi Arabia) , DuPont de Nemours, Inc. (USA), BASF 3D Printing Solutions GmbH (Germany), HP Inc. (USA), EOS GmbH – Elektrooptische Systeme (Germany), Shenzhen Esun Industrial Co., Ltd. (China), CRP Technology Srl (Italy), EnvisionTEC GmbH (Germany), Oxford Performance Materials, Inc. (USA) and MG Chemicals (Canada) are important players in the 3D printing filament market, among others. These players have focused on development strategies such as acquisitions, partnerships, collaborations, expansions, agreements, and new product developments and launches that have helped them grow their businesses in untapped and potential markets. They have also introduced various organic and inorganic growth strategies such as agreements, new product developments, acquisitions and partnerships to improve their current position in the 3D printing filament market.
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Stratasys Ltd. is one of the leading providers of 3D printing solutions for rapid prototyping and direct digital manufacturing (DDM). In addition, materials such as metals, plastics and ceramics are developed, manufactured and marketed for the 3D printing market, along with related services. The company offers two major 3D printing technologies: Fused Deposition Modeling (FDM) and PolyJet. As of December 31, 2019, Stratasys had approximately 1,000 issued patents and approximately 500 patents pending worldwide.
3D Systems Corporation offers comprehensive 3D printing solutions and is a global leader in additive manufacturing solutions. The company continues to develop new materials in its plastics portfolio to cover a wider range of manufacturing applications. In addition, 3D Systems has planned several innovations for its plastic material portfolio that will help manufacturers address a broader portfolio of applications. The company offers its 3D printing solutions to markets such as aerospace, automotive, medicine, dentistry and consumer goods.
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Contact information:
Mr. Aashish Mehra
MarketsandMarkets ™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
E-mail: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/3d-printing-filament-market.asp
