New Jersey, NJ, July 24, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, 3D Printing Filament Market by Type (Plastics, Metals, Ceramics, Others), Application (Aerospace & Defense, Medical & Dental, Automotive, Electronics, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025. As per the report, the global 3D printing filament market is expected to grow from USD 1,246.81 million in 2017 to USD 1,310.27 million by 2025 at a CAGR of 27.66% during the forecast period from 2018-2025. Increased demand for 3d printing plastic filaments from industries for mass production, product modification and development will surge the demand of 3d printing filaments, and increasing demand from the aerospace and automotive industries are the major trends for the demand of the market.
Market Outlook of the 3D Printing Filament
- 3D printing filament is the thermoplastic feedstock for fused deposition modelling 3D printers. It helps manufacturers to develop multi-property materials for 3D printing filament by heating, extruding, and cooling materials such as plastics, metals, or ceramics to transform nurdles into the finished product. The growing adoption of 3D printing technology has enabled the use of advanced filament material for the printing.
- Increased demand for 3d printing plastic filaments from industries for mass production and product modification & development will surge the demand of 3d printing filaments are the key driving factors for the 3D printing filament market. In addition, increasing demand from the aerospace and automotive industries will stimulate the growth of 3D printing filament market in couple of years. The environmental concerns regarding 3d-printed plastic products and lack of acceptance of new technologies in emerging economies may limit the growth of the market.
- However, research and development activities and development of eco-friendly POLYLACTIC Acid (PLA) material is likely to enhance the 3D printing filament market over the forecast period.
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Type Segment Analysis of the 3D Printing Filament Market
- Plastics
- Metals
- Ceramics
- Others
The plastics segment registered highest market share of 36.19% in 2017 due to ease of availability and cost-effectiveness. As plastics are less brittle and more ductile they are widely used in various application areas. The ease in customized product development and cost effectiveness has increased the use of plastics in automotive, medical, aerospace & defence, and consumer goods applications. The use of ceramic powders for printing plates, cups, and other cutlery items has also increased. Ceramic prototypes are also used in high temperature applications in the aerospace and automotive industries. The emerging applications of ceramic powders is in 3D printing filaments of medical implants has driven the market share of the ceramics segment in the global 3D printing filaments market.
Application Segment Analysis of the 3D Printing Filament Market
- Aerospace & Defense
- Medical & Dental
- Automotive
- Electronics
- Others
The aerospace & defense segment is expected to hold the largest share of 39.16% during the forecast period. Here, contributing factors are increasing application areas, rising investments, and technological advancements. Increasing aircraft manufacturing for defence and commercial purposes is likely to contribute to the growth of the segment. The demand for advanced filament material to achieve high-quality prints is increasing. Consequently, manufacturers are investing in developing superior filament material and this in turn positively impacted the 3D printing filament market. 3D printing filament manufacturing is considered highly efficient as compared to various other traditional manufacturing methods. It facilitates production by reducing time, efforts, and costs incurred in a project. Furthermore, 3D printing filament does not even require specialized tooling to create a prototype thus escapes numerous tooling related constraints for geometries.
Region Segment Analysis of the 3D Printing Filament Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region held the largest market share of approximately 38.58% in 2017 where as the Asia Pacific region held the second dominant position in the global 3D printing filament market. Increasing demand for 3D printing filament, demand in aerospace & defense, medical & dental, and automotive industries, and rapid technological advancements are factors lifting the demand of the 3D printing filament market in North America region. Asia Pacific is fastest growing region due to the increasing investments as well as increasing awareness about 3D printing technology are creating opportunity for the growth of the market. In addition, thriving automotive and medical manufacturing industries in developing economies such as India and China is supporting the regional growth of Asia Pacific.
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Competitive landscape and key vendors
- Major players in the global 3D printing filament market are P Evonik Industries, Filabot, Solvay AG, LG Chem, Voxeljet AG, Markforged, Inc., Proto Labs, Inc., Carbon, Inc., Materialise NV, Repraper, MeltInk, 3D-Fuel, Stratasys, Ltd., 3D Systems Corporation, Arkema S.A., Koninklijke DSM N.V., SABIC, Clariant, HP Inc., and among others. In order to their enhance market position, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2017, 3D Systems acquired Vertex-Global Holding B.V., a provider of dental materials. This acquisition enabled 3D Systems to enhance its product portfolio of plastics for dental materials for 3D printing dental applications.
- For instance, in 2018, Stratasys, Ltd. launched Antero 800NA, a PEKK-based material used in the FDM process. This product focus on the aerospace parts and high-performance vehicle industries. This product enhances the 3D materials product portfolio of Stratasys in commercial applications.
About the report:
The global 3D printing filament market is analysed on the basis of value (USD Million) volume (‘000 Units), consumption (‘000 Units), imports (‘000 Units) and exports (‘000 Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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