3D Printing Filament Market is projected to be worth USD 8.1 Billion by 2030, registering a CAGR of 23% during the forecast period (2022 - 2030).
3D Printing Filament Market Overview
By the end of 2030, the 3D printing filament market is expected to grow at a CAGR of 23%, reaching USD 8.1 billion. FDM/FFF technique uses filaments made of materials such as plastics, metals, and ceramics, which are less expensive than other types of 3D printing materials. These filaments are useful in the creation of complex-structured things. As a result, rising demand for customized products from sectors such as aerospace is a primary driver of the 3D printing filament market growth. The growing use of 3D printing filament in the aerospace and defense industries for design communication and prototype is driving demand. Furthermore, the 3D printing filament market expansion is fueled by a rising focus on high print in automobile industries.
Rising innovation and R&D in 3D printing filaments, such as multi-property materials and bio-degradable 3D filaments, are enticing market players to invest. Furthermore, tight environmental rules are expanding the possibilities for bio-degradable 3D printing materials. The benefits of 3D printing include the ability for designers to make better selections when it comes to production procedures and the ability to produce an optimal result. Manufacturers of 3D printing filament industry are concentrating on tailored formulation mixes and customer-provided compounds, as well as 3D printer private labeling.
By Material Type
By End-Use Industry
The increasing adoption of 3D printing in numerous end-use industries to develop multi-property components and materials using 3D printing filaments, which are made by various materials that provide high-performance parts to the industries. The product is widely used due to its excellent strength, durability, high-temperature resistance, minimal shrinkage, along with excellent toughness and flexibility. Some of the major applications in which the 3D printing filament finds significant use are in prototype models by various industries, developing elastic components such as wearables, aircraft and automobile parts, and others. In the 3D printing filament market are popular by the trade names: Hatchbox, 3rDment, Taulman, NinjaFlex, and MakerBot.
The major factors favoring the growth of the 3D printing filament market are surging demand for eco-friendly products over petrochemical products and high focus of the end-use industries towards 3D printing technologies, especially aerospace and consumer goods, and increasing consumption of electronics and growth of the automotive industry across the globe. In 2019, over 90 million units of vehicles were manufactured and is expected to reach over 100 million units by the end of 2019, which is likely to fuel the demand for 3D printing filament in the coming years.
Globally, the aerospace sector is witnessing robust growth in terms of the overall capacity of and production from the application 3D printing components, due to its strong and light-weight properties. In 2019, the global aerospace industry contributed to over 18% of the global 3D printing revenue reaching over USD 4.9 billion and is projected to experience considerable growth during the years to follow. The application of 3D printing filaments in manufacturing of jigs & fixtures, surrogates, mounting brackets, and others, reduces the air drag by 2.2%, reduces fuel consumption by 5.43%, and lowers the CO2 production by approximately 25 tons, which is further expected to boost the global 3D printing filament market growth during the forecast period.
Furthermore, favorable government policies and rapid urbanization in the emerging economies such as India, China, Brazil, South Africa, and South Korea, are expected to drive the growth for 3D printing filament market during the review period.
However, the manufacturing process of 3D printed parts is highly expensive coupled with high energy consumption, which is likely to hinder the 3D printing filament market growth during the review period.Recent Developments:
Pricing and Regulatory Analysis
The stringent safety standards for medical, automobile and construction applications of 3D printing filament market growth are likely to boost the demand for 3D printing filament during the forecast period. For instance, the Food and Drug Administration’s (FDA) Center for Devices and Radiological Health (CDRH) regulates the 3D printing process of the firms who manufacture, repackage, relabel, and import medical devices across the US. Medical devices are classified into Class I, II, and III according to the risk associated with the patient. Regulatory control increases from Class I to Class III. The device classification regulation defines the regulatory requirements for a general device type. Most Class I devices are exempt from premarket notification 510(k); most Class II devices require premarket notification 510(k); and most Class III devices require premarket approval.
|Market Size||2030: USD 8.1 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Material Type, and By End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||DowDuPont Inc (US) – Hytrel, Merck KGaA (Germany) – 3DXTech ABS, Arkema S.A. (France) – Kepstan, Evonik Industries AG (Germany) – VESTAKEEP, DSM (The Netherlands) – Novamid, Stratasys Ltd (Israel) – ABSi, Durus, SABIC (Saudi Arabia) – CYCOLAC, Clariant (Switzerland) – ESD safe PET-G, BASF SE (Germany) – Ultrafuse 316L, Eastman Chemical Company (US) – Amphora 3D polymer, Markforged, Inc (US) – Onyx|
|Key Market Opportunities||Favorable government policies and rapid urbanization in the emerging economies such as India, China, Brazil, South Africa, and South Korea.|
|Key Market Drivers||
Global 3D Printing Filament Market is projected to register a CAGR of 23%.
The Global 3D Printing Filament Market’s revenue will be USD 8.1 billion by the end of 2030.
The major factors liable for the growth of the market is surging demand for eco-friendly products over petrochemical products and towering focus of the end-use industries towards 3D printing technologies, mainly aerospace and consumer goods as well as escalating consumption of electronics and growth of the automotive industry globally.
The emerging regions such as India, Brazil, South Africa, China, and South Korea are to drive the growth for the 3D printing filament market.
DowDuPont Inc– Hytrel, Merck KGaA– 3DXTech ABS, Arkema S.A.– Kepstan are some of the key players of Global 3D Printing Filament Market.