New York, United States, June 29, 2021 (GLOBE NEWSWIRE) – 3D Printing Filament Market Overview:
According to a comprehensive research report from Market Research Future (MRFR), “3D Printing Filaments Market Information by type, end use and region – Forecast until 2025,”The market is expected to reach $ 8.1 billion by 2025 at 23.7% CAGR.
Future Market Growth Factors:
The 3D printing filament is in huge demand around the world, in line with the growing scope in the aerospace and defense industry for design communication as well as prototyping. The increasing demand for advanced prints in the automotive industry is also driving the growth of the market. 3D printing filaments developed using plastic are in high demand due to their low cost, high water resistance and ease of manufacture. Unlike traditional printing like nylon, composites and hybrid filament materials, plastic filaments use more efficiently fused filament manufacturing methods to make prototypes for automotive, industrial, aerospace and defense.
Technological trends as well as the increasing attention of players on product advancement in the 3D printing filament industry is also driving growth across the globe. Emerging countries like India, Brazil, China, Malaysia and South Korea are currently among the major component manufacturers in the automotive, aerospace and defense, healthcare and industry, and therefore present a multitude of attractive opportunities for 3D suppliers. printing filament market.
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Key Player Lock Horns:
Major Companies in 3D Printing Filament Market are:
- DSM (Netherlands) – Novamid
- Arkema SA (France) – Kepstan
- Evonik Industries AG (Germany) – VESTAKEEP
- Markforged, Inc (US) – Onyx
- Stratasys Ltd (Israel) – ABSi
- Durus, SABIC (Saudi Arabia) – CYCOLAC
- Clariant (Switzerland) – antistatic PET-G
- DowDuPont Inc (United States) – Hytrel
- Eastman Chemical Company (USA) – 3D Polymer Amphora
- Merck KGaA (Germany) – 3DXTech ABS
- BASF SE (Germany) – Ultrafuse 316L
The 3D printing filament industry is teeming with a number of players with intense competition. Many of these companies focus on carrying out in-depth research and development activities to introduce new products with multiple applications. Leading companies are also adopting a number of organic and inorganic growth tactics, such as mergers and acquisitions, innovative product launches and expansions to increase their share in the global industry.
Market segmentation :
Major market segments listed in MRFR report are material type and end-use industry.
The different types of materials analyzed are sandstone, polyethylene terephthalate (PET), carbon fiber, polyvinyl alcohol (PVA), acrylonitrile butadiene styrene (ABS), nylon, polylactic acid (PLA) and other. The other segments can be divided into amphora, PETG, conductive PLA, flexible / TPE, PETT, PLA magnetic iron, wood, etc. The ABS segment has remained in the lead since 2018 and had captured the largest 3% share that year, due to the growing demand for renewable and sustainable plastic solutions. The properties of ABS that allow the 3D printing filament to be integrated into shock absorbing components in several end-use industries is also driving the growth of the segment.
The main end-users of the industry are healthcare, automotive, electrical and electronics, aerospace and defense, and others. Aerospace and Defense is the dominant segment of the market given the increasing production of military and commercial aircraft. The segment held more than 30% of the global market share in 2018.
Browse the in-depth market research report (180 pages) at 3D printing filament: https://www.marketresearchfuture.com/reports/3d-printing-filament-market-8427
North America, with its highly developed 3D printing manufacturing sector and emphasis on the use of renewable energy sources, remains a serious competitor in the global market. The robustness of the aerospace industry and the high demand for 3D printing filaments remain a significant advantage that gives the region the edge in the global market. The US market may experience an impressive CAGR during the forecast period, given the focus on improving aerospace and defense components and many end-use industries requiring more and more durable and environmentally friendly parts.
Europe is the second most lucrative market, thanks to large-scale automobile production as well as an emphasis on renewable energy production. The rise of innovations as well as research and development activities to produce biodegradable and multi-benefit 3D filaments will also ensure massive income generation in the years to come. Strict environmental policies in Europe have also helped boost the growth potential of the biodegradable 3D printing filament market.
Asia-Pacific is the largest market, however, and managed to secure a share of over 35% in 2018. The APAC market will maintain its winning streak throughout the review period, mainly due to the widespread use of 3D printing filaments in the automotive industry. sector, for the manufacture of electric vehicles with light characteristics. The aerospace sector is also an important end user in the region. Major countries in the region like China, Japan, South Korea and India are constantly working on improving their 3D printing capabilities, with some of them investing heavily in a number of projects. 3d printing.
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Nanoe has released a filament for its Zetamix H13, which is part of the company’s extensive Zetamix range. This line already contains alumina, stainless steel and zirconia filaments and is highly compatible with many filament extrusion 3D printers. This launch should help Nanoe make H13 3D printing accessible to all companies in the market. Zetamix H13 filament is known to be compatible with all types of FFF 3D printers while requiring only one heat post-treatment within a tube furnace to gain over 90% density.
Braskem made its Braskem polypropylene 3D printing filament available on Mr. Holland’s eStore. The new launch includes two advanced grades of polypropylene 3D printing filaments for fused filament fabrication and the materials have been designed for use in personal and industrial 3D printing applications.
Developments after the COVID-19 outbreak
Several key end-use industries of 3D printing filament market like healthcare, aerospace & defense, power & electronics, automotive, etc. have been deeply affected by the COVID-19 pandemic, resulting in weakened demand. The global lockdown has reduced the workforce in manufacturing units, resulting in reduced production capacity. The novel coronavirus has also presented challenges for actors in the form of lost income, debts, weaker supply chains, to name a few.
The accelerated cases of SARS-CoV-2 have forced manufacturers to follow strict safety standards and maintain effective communication, with employee health becoming the primary focus. Sellers are also being forced to adopt competitive tactics to maintain their positions in the market, while dealing with the hurdles that arise due to the COVID-19 outbreak.
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