The market for 3D printing filaments is booming

(MENAFN-EIN Presswire)

3D printing filament market

North America has used the highest volume of 3D printing filaments in the past and it is also expected to maintain its dominance in the years to come.

NEW YORK, USA, June 7, 2022 /EINPresswire.com/ — The global market value of 3D printing filaments is expected to grow from $693.1 million in 2019 to $7,082.0 million by 2030 According to market research firm P&S Intelligence, the market is estimated to grow at a CAGR of 26.8% from 2020 to 2030. The market is propelled by the increasing adoption of 3D printing technology in the aerospace industry, which itself is rapidly expanding around the world.

According to the International Air Transport Association (IATA), the total revenue generated by commercial airlines across the globe increased from $845.0 billion in 2018 to $876.0 billion in 2019. According to the data, the aerospace and aviation industries are growing rapidly, which is subsequently increasing the need for new aircraft, as they will be needed to carry more passengers and cargo in the years to come. 3D printing technology is proving to be very efficient in the production of these components, as it incorporates filaments for the manufacture of the components, resulting in reduced overall weight of the final products, minimal wastage and increased production. resistance.

Get the sample pages from this report:

Based on type, the 3D printing filament market is divided into metals, plastics and ceramics. Among these, the plastics category is expected to generate the highest revenues in the market in the coming years. Currently, 3D printing technology is in its infancy, due to which the need for capital is high, which makes it difficult for various small and medium enterprises to effectively use this technology. However, plastic-based filaments are available at a lower cost, which helps companies reduce the cost of the manufacturing process.

Globally, Asia Pacific is expected to be the fastest growing region in the 3D printing filament market in the coming years. This is attributed to the boom in manufacturing activities, especially in China, and the growing implementation of favorable government initiatives regarding advanced technologies in the region. Additionally, the existence of prominent automobile companies, such as Hyundai Motor Company and Toyota Motor Corporation, and the booming healthcare industry are also propelling the need for 3D printing filaments in the region.

Players operating in the industry focus on product launches to strengthen their position in the market and gain an edge over their competitors. For example, Evonik Industries AG introduced its polyether ether ketone (PEEK) 3D printing filament for custom medical implants in May 2020. Additionally, the company also offers a test-grade variant, which provides the same product features but with the necessary documentation for approval for medical applications. This provides a cost effective method of utilizing material processing characteristics for 3D printers to potential users.

Request before purchasing this report:

Thus, it can be said without hesitation that the demand for 3D printing filaments will increase sharply in the coming years, mainly due to the expansion of the aerospace industry and the increasing manufacturing of aircraft and automobiles in the whole world.

Market Size Breakdown by Segment

By type
• Plastics
• Polylactic acid
•Acrylonitrile butadiene styrene
• Polyethylene terephthalate glycol
• Acrylonitrile styrene acrylate
•Metals
•Ceramic
By request
•Industrial
• Aeronautics and Defense
•Automotive
•Consumer goods
•Health care
By region
•North America
oU.S.
oCanada
•Europe
oGermany
oU.K.
oFrance
oItaly
•Asia Pacific
oChina
oJapan
oAustralia
oSouth Korea
•Rest of the world
oBrazil
oMexico
oSaudi Arabia
oU.AE

Browse more reports published by P&S

Global High Performance Plastics for 3D Printing Market Report –

Global 3D Printing Construction Market Report –

Global Polyethylene Glycol Market Report –

Global Fuel Additives Market Report –

Global Plasticizers Market Report –

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a wide range of industries around the world. As an enterprising research and advisory firm, P&S believes in providing in-depth insights into the ever-changing market scenario, to enable businesses to make informed decisions and ground their business strategies wisely. . P&S has the interests of its customers at heart, which is why the information we provide is both honest and accurate. Our long list of satisfied customers includes entry-level businesses as well as multi-million dollar companies and government agencies.

Prajneesh Kumar
P&S intelligence
+1 347-960-6455
write to us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

MENAFN07062022003118003196ID1104334527


Legal disclaimer: MENAFN provides the information “as is” without warranty of any kind. We assume no responsibility for the accuracy, content, images, videos, licensing, completeness, legality or reliability of any information in this article. If you have any complaints or copyright issues related to this article, please contact the provider above.