(PharmaNewsWire.Com, January 11, 2023 ) The global 3D Printing Filament Market is estimated at USD 739 million in 2020 and is projected to reach USD 2,552 million by 2025, at a CAGR of 28.1% from 2020 to 2025. Rising demand for 3D printing filaments for mass customization have been the major reasons for the growth of the 3D Printing Filament Market in order to provide easy printing of complex geometries. The growing demand for 3D printing filament from end-use industries such as aerospace & defense, medical & dental, and automotive is expected to drive the 3D printing filament market. Outbreak of COVID-19 has led to sustained operations and production of 3D printing filamnets as it is been used widely in medical application.
Based on type, the 3D printing filament market has been segmented into plastics, metals, ceramics and other filament types such as wax, wood, and paper. Plastics are the most widely used material type in the production of 3D printing filament, owing to the high availability and mechanical properties. Among plastics, ABS and PLA are the most consumed type of plastics. Though metals are preferred more in powder form, however, there is a rise in adoption of the metal filaments across industries such as aerospace and automotive. In addition, ceramic filaments are emerging in the dental, electronics, and sculpture applications.
Based on end-use industry, the 3D printing filament market has been segmented into aerospace & defense, medical & dental, automotive, electronics, and others. The medical & dental segment is expected to be the fastest-growing end-use industry segment of the 3D printing filament market during the forecast period. Amid the COVID-19 outbreak, plastic and metal filaments are being used increasingly in the printing of medical and dental components and devices such as face mask, ventilator splitters, and PPE kits. The adoption of filaments and 3D printing technology is estimated to fuel the growth of 3D printing filament market in medical & dental end-use industry. The application of 3D printing filament is also increasing in the medical industry with the emergence of biodedradable PLA, which can be used in medical impants and prosthetics without causing any infection.
Based on region, the 3D printing filament market is segregated into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. Among these, the North American region is expected to lead the 3D printing filament market during the forecast period. The region has large consumer base across the end-use industries, especially in aerospace & defense. Also, the region has a large cluster of 3D printing filament maufacturers.
Key players are adopting organic and inorganic strategies to sustain their market share and investing in R&D activities for tapping unfulfilled opportunities. The 3D printing filament market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, Japan, and South Korea together accounted for the major share of the Asia Pacific 3D printing filament market in 2019. This can be attributed to the increasing demand for 3D printing filament from the region’s aerospace, medical, and automotive industries, particularly in China and Japan.
Key market players covered in this report includes Stratasys Ltd. (US), 3D Systems Corporation (US), Koninklijke DSM N.V. (Netherlands), Materialise NV (Belgium), Evonik Industries AG (Germany), Arkema SA (France), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), DuPont de Nemours, Inc. (US), BASF 3D Printing Solutions GmbH (Germany), HP Inc. (US), EOS GmbH - Electro Optical Systems (Germany), Shenzhen Esun Industrial Co., Ltd. (China), CRP Technology S.r.l. (Italy), EnvisionTEC GmbH (Germany), Oxford Performance Materials, Inc. (US), and MG Chemicals (Canada), among others.
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