Updated News: 3D Printing Filament Market To Reach USD 3.1 Billion By 2027 | CAGR 23.1% — Forencis Research
Global 3D Printing Filament Market: Key Highlights
- According to the new market research report “Global 3D Printing Filament Market by Type (Plastics, Metals, Ceramics), End-Use Industry (Aerospace & Defense, Medical & Dental, Automotive, Electronics), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global 3D Printing Filament market is estimated to reach USD 3.1 Billion by 2027 at a CAGR of around 23.1% during the review period.
- 3D printing technology is a growing industry and is currently being adopted by small and large scale industries globally. A large number of manufacturers are inclining on 3D printing technology and advanced filament material for extrusion 3D printing
- Filaments made from materials such as plastics, metals and ceramics are used in FDM/FFF technology, which has a low price in comparison to other forms of 3D printing materials. These filaments are beneficial in the production of objects with complex structures.
- High demand for plastic filaments in the production of medical devices and components due to outbreak of COVID-19 is anticipated to fuel the growth of 3D printing filament in the medical & dental segment.
Global 3D Printing Filament Market: Key Market Dynamics
- Government initiatives to support the adoption of 3D printing
- Rising demand for 3D in various end user industries
- Penetration of 3D printing into various and large end-user sectors
- Potential health hazards for workers from 3D printing filaments hampers the market growth
- Innovation and development of 3D printing filaments focusing on the specific application are the opportunites
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Global 3D Printing Filament Market: Regional Overview
- North America
The North American region is expected to lead the 3D printing filament market during the forecast period. The growth can be attributed to the high demand for 3D printing filament in countries such as the US and Canada across the end-use industries such as aerospace, medical, and automotive. The region being the largest consumer in the aerospace & defense industry offers high growth opportunities for 3D printing filaments for the printing of complex parts, such as jet wings, engine parts, space telescopes, metal guns, and rocket parts.
3D printing filament market in the Asia-Pacific is expected to grow tremendously during the forecast period. The growth in this region can be attributed to increasing awareness about the 3D printing technology and its applications. Rapid industrialization and technological advancements have also contributed to the market’s growth in this region.
Global 3D Printing Filament Market: Key Players Overview
- Stratays Ltd.:
Stratasys Ltd is one of the prominent players in the additive manufacturing market which engages in the provision of additive technologies, solutions, and materials. The company focuses on customer business requirements to create new value across product lifecycle processes from manufacturing tools to design prototypes and final production parts. Till date, company have granted and pending 1400 additive manufacturing patents. The company operate a 3D printing ecosystem of expertise and solutions which comprises of advance materials, software with voxel level control, repeatable & reliable fused deposition modeling 3D printers, and inkjet-based 3D printers. Company provide 3D printing services, materials, and technology for various applications such as aerospace, automotive, healthcare, consumer products, and education. The company operates in North America, Asia-Pacific, Europe, and Middle East & Africa. In May 2019, Stratasys and Solvay are entered into partnership to expand the range of high-performance polymers to expand the fused deposition molding material market and increase the adoption in manufacturing.
- Evonik Industries AG:
Evonik Industries AG is a stock-listed German speciality chemicals company headquartered in Essen, North Rhine-Westphalia, Germany. The company is second largest chemicals company in Germany, and one of the largest speciality chemicals companies in the world. The company operates through major business segments, i.e., Nutrition & care, specialty additives, smart materials, performance materials and services.
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