DUBLIN – (BUSINESS WIRE) – Added report “3D Printing Filaments Market – Growth, Trends, Impact of COVID-19, and Forecasts (2021-2026)” added ResearchAndMarkets.com to offer.
The 3D printing filament market is expected to grow globally at a CAGR of more than 12% during the forecast period.
3D Systems, Inc.
CRP TECHNOLOGY Srl
Evonik Industries AG
HP Development Company, LP
Major market trends
Increased demand from the Aerospace & Defense segment
Based on the end-user industry, the aerospace and defense industry is valued as the market leader due to increasing application areas, increasing investments and technological advances.
The plastics segment is expected to lead the aerospace 3D printing filament market due to its superior properties such as lightness. Among the plastics, ABS and PLA types are the most consumed because of their availability and cost efficiency. Plastic filaments are often used in the high-precision manufacture of carts, pipes and fittings
The growth of the commercial aerospace market is likely to lead to the development of aircraft production and maintenance programs in emerging markets.
The demand for commercial aircraft is expected to more than double over the next two decades. To meet this need, the number of jets is expected to nearly double to 47,000 aircraft, with an average annual growth rate of 3.3%. To support this fleet, Boeing says it will require more than 41,000 new deliveries, valued at over $ 6 trillion in growth and replacements, over the next 20 years.
Due to all of the above factors for 3D printing filaments, the market is expected to grow rapidly during the forecast period.
Asia Pacific region will dominate the market
The demand for 3D printing material is increasing significantly due to the falling price and rapid adoption of 3D printing technology from prototyping, product design and concept modeling to manufacturing the final product.
The growth is attributed to the early adoption and development of the advanced 3D printing industry, which is complemented by the strong presence of manufacturers in the region.
The aircraft parts and assembly manufacturing sector in the country is growing at a rapid pace with the presence of over 200 small aircraft parts manufacturers. Major manufacturers are concentrated in Nanchang, Shanghai, Chengdu, Xi’an, Harbin, Shijiazhuang and Shenyang. Chinese aerospace policy represents one of the most comprehensive attempts to get into the top tier of aerospace development and production. China is expected to be the world’s largest single country market for commercial aircraft sales over the next 20 years.
In addition, in 2015 KAI won the KF-X project, Korea’s next generation fighter jets. The Korean government plans to invest $ 17 billion in the KF-X program by 2025. Korean Air provides MRO services for both commercial and defense aircraft. This is expected to increase the demand for the studied market in the country during the forecast period.
The Asia-Pacific region has become a manufacturing hub due to a growing consumer base as well as the continued surge in foreign investment. Therefore, remarkable growth is expected for the regional market in the forecast period.
Key topics covered:
2 RESEARCH METHOD
4 MARKET DYNAMICS
4.1.1 Increasing use in manufacturing applications
4.1.2 Mass customization in connection with 3D printing
4.2.1 High capital requirements
4.2.2 Adverse conditions due to the COVID-19 outbreak
4.3 Analysis of the industry’s value chain
4.4 Five Forces Analysis of Beams
4.4.1 Threat from new entrants
4.4.2 Bargaining power of consumers
4.4.3 Bargaining power of suppliers
4.4.4 Threat from Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.2 End user industry
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Introduction of 3D printing technology in home printing
7.2 Other possibilities
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