3d Printing Filament Market Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Synopsis

According to the MRFR analysis, the Global 3D Printing Filament Market size was valued at more than USD 2 billion in 2018 and is expected to reach over USD 8 Billion by the end of 2025 at a CAGR of 23.7%.

3D printing filaments are used to manufacture various 3D components for its application in the end-use industries. Its high strength, toughness, and flexibility have increased its use in aerospace, automobile, and healthcare industries. Some of the primary factors favoring the market growth for the 3D printing filament are increasing automobile production, growing adoption of renewable sources, and surge in demand for high-performance medical devices across the globe.

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Pricing and Regulatory Analysis

In 2018, the price of PVA filament which is one of the fastest-growing segments in the global 3d printing filament market varied from USD 4.15-4.40 per kilotons, which is witnessing an upward trend. The trend is likely to continue during the forecast period owing to fluctuating raw material prices.

The stringent safety standards regarding 3D printing of medical devices are expected to favor the demand for 3D printing filament during the review period. Some of the standards are the British Standards Institution - BS ISO/ASTM 52910:2018, European Journal of Risk Regulation 8 (2). pp. 441-447. ISSN 1867-299X, Food and Drug Administration - 21 CFR 820.75(b), and The European Union - MDR 2017/745.

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SEGMENTATION

By Material Type

Acrylonitrile Butadiene Styrene (ABS): ABS segment held the largest market share of 3% in 2018 and is expected to dominate the market during the forecast period which is attributed to the increasing demand for renewable plastic solutions coupled with its properties which allows ABS to be implemented into shock-absorbing parts in various end-use industries.
Polylactic Acid (PLA): It is projected to be one of the fastest-growing segments in the global market during the review period, owing to its biodegradable eco-friendly property and lightweight.
Polyvinyl Alcohol (PVA): PVA is widely used as support material and is water-soluble which makes it one of the unique materials for filament.
Polyethylene terephthalate (PET): PET filaments due to its waterproof properties are used across the food and beverage industry.
Sandstone: Sandstone filament provides a ceramic or sandstone look to various parts and components. It provides an aesthetic look to the objects.
Nylon: Nylon filaments are durable, versatile, and strong material. They offer a bright and translucent surface, which absorbs the color post-printing process.
Carbon Fiber: Carbon fiber filaments pose high stiffness and strength while offering lightweight property and dimensional stability. 3D printed carbon fiber parts are 8 times stronger than ABS which makes it the second-largest segment of the global 3d printing filament market.
Others: The other segment of the global 3D printing filament market includes wood, PETG, magnetic iron PLA, PETT, flexible/TPE, amphora, and conductive PLA, among others.

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By End-Use Industry

Aerospace & Defense: This segment is expected to dominate the market throughout the forecast period. The rise in the production of commercial and military aircraft is fueling the growth of the segment. The segment accounted for the largest market share in 2018 over 30% due to the rapid shift in engineering design and manufacturing process of defense and commercial aircraft across various industries.
Healthcare: The increase in the development of precision medical devices is fueling the demand for 3D printing filament in the segment.
Automotive: It is the fastest-growing segment owing to the increasing focus on renewable and lightweight material in the sector.
Electrical & Electronics: The increasing demand for consumer electronics and portable devices is growing the demand for 3D printing filament in the electronics sector.
Others: The other segment includes consumer goods, construction, energy, food & beverage, and packaging, among others.
By Region

North America: Market growth is driven by the demand in the aerospace industry.
Europe: A well-established market.
Asia-Pacific: The largest and fastest-growing regional market.
Latin America: A small but growing automotive industry is fueling the demand for 3D printing filament in Latin America.
Middle East & Africa: Increasing number of automotive industries is expected to fuel the demand for 3d printing filament market in the region.

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This release was published on openPR.