NEW YORK, March 20, 2018 (GLOBE NEWSWIRE) -- Global 3D printing filament material market size is expected to grow from USD 255.0 Million in 2017, to USD 1,189.3 Million in 2024, at a CAGR of 25.8% from 2018 to 2024. Factors propelling the growth of 3D printing Filament Material market include increasing investment in 3D printing across the globe and growing usage in large variety of application across various end-user industries. The 3D printing filament material market is growing with the rapid expansion of the 3D printing market. The report segments the 3D printing Filament Material market by Material (TPU, PP, Nylon, ABS, PLA, PVA, wood, Others), by Type (Flexible, Semi-flexible, Rigid), by Hardness (0-40, 40-80, >80) by Application (Aerospace and Defence, Medical and Dental, Automotive, Consumer goods, Others), by End-Use (Industrial, Prosumer, Hobbyist), by Region (North America, Europe, Asia-Pacific, Rest of World). The report studies the global 3D printing Filament Material market over the forecast period (2018-2024).
3D filaments are materials used for 3D printing and are available in different types for building different types of object. 3D printer need plastic filament for printing. ABS, PVA and PLA are some commonly used 3D printing filament material. Available in different colors these materials provide enhanced properties such as high thermal and chemical stability to the object of printing.
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Key Findings from Global 3D printing Filament Material Market
- The global 3D printing filament materials market is expected to increase from USD 255.0 million in 2017, to USD 1,189.3 million in 2024, at a CAGR of 25.8% during 2018 -2024
- The ABS material held the largest market share of global 3D printing filament material market in 2017. ABS as a low cost material is being used widely across 3D printing industry.
- The PLA printing filament material is expected to grow at highest rate over the forecast period, owing to its biodegradable eco-friendly nature providing edge over the petro derivative material.
- North America holds the largest share in the global 3D printing Filament Materials market in 2017. The growth in the region is attributed to early adoption and development of 3D printing industry accompanied by the presence of largest manufacturers of 3D printing filament material.
- Key players in 3D printing filament materials Market are Filabot, Evonik Industries, Voxeljet AG, Solvay AG, LG Chem, Markforged, Inc., Carbon, Inc., Proto Labs, Inc., Materialise NV are among others.
3D printing Filament Material- Helping industries to achieve performance
3D printing industry is evolving rapidly and is being adopted by large and small scale businesses across the globe. As the industry size is increasing need for advanced material is on high, resulting in designing of new innovative material by various manufacturers. Large manufacturers are focusing their interest on 3D printing and advanced filament material for extrusion 3D printing. Demand for these advance filament material is rising continuously in industries demanding high performance coupled with quality. Large manufacturers are investing to develop filament material with superior thermal, chemical and electrical performance to meet the need of key industries including aerospace, defence and consumer goods. Research and development activities have increased to provide full advance eco-friendly material solution providing thrust to the growth of 3D printing filament material market.
3D printing Filament Materials Market- Regional Insight
North America represents largest region for the growth of 3D printing filament materials market. The factors driving the growth of North America 3D printing filament materials market include rapidly evolving 3D printing industry accompanied by the presence of largest players of 3D printing. Further penetration of 3D printing into various and large end-user industries has propelled the growth of the 3D printing filament material market in the North America region. Asia-Pacific 3D printing filament material market has experienced an upward trend and is expected to grow at significant growth rate over the forecast period. The growing number of 3D printing players, large number of raw material supplier and fast catching 3D printing industry is augmenting the growth of the 3D printing Filament Material market in the region. Development of 3D printing materials focusing on specialized application is expected to drive the growth of 3D printing filament material market in the European region.
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