3D Printing Filament Market Size, Share & Growth Report 2030

Report Description

The 3D printing filament market size was valued at USD 2.18 billion in 2021 and is expected to surpass USD 14.50 billion by 2030, expanding at a CAGR of 26.9% during the forecast period, 2022–2030. The market growth is attributed to the rising demand for high-quality print in automotive and industrial applications across the globe.

3D printing filament is a certain kind of printing material used by the fused filament fabrication (FFF) type 3D printer. FFF is the most commonly used 3D printing material category in the world. 3D printing filament is different from other 3D printing technologies, which used liquid resin and powder to print. The filament is produced into one constant slender plastic thread of hundred meters long.

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The filament is spooled into a reel to store and feed the printer. The raw material of 3D printing filament is thermoplastic material. It includes the widely applied plastics along with special formula material for certain purposes.

3D-printed objects by filament have been applied in wide areas. Although the thermoplastic has its limitation in the mechanical aspects, the 3D printing filaments register their value in light-duty usage and prototyping. Prototyping is the most common application that requires low mechanical properties from the material itself.

Many professionals and enterprises choose filament for jigs & fixtures, assemble parts, education, toys, and props models. Primary thermoplastic polyurethane (TPU) is highly adopted in the footwear industry. TPU is increasingly used by Footwear manufacturers for its mechanical properties.

COVID-19 Impact On 3D Printing Filament Market

The global 3D printing filament market has been moderately impacted during the pandemic. Owing to highly impacted production facilities located in several countries across the globe. Key manufacturers in the global market have their principal subsidiaries and headquarters in the impacted countries. COVID-19 has impacted the supply chain of the market, owing to the low demand and production has slowed in manufacturing units. However, the growing adoption of 3D printing filament for medical applications during the pandemic drives the market growth.

3D Printing Filament Market Dynamics

The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The 3D printing filament market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.

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Key Trends

High demand for 3D printing filaments in the aerospace and defense industry

The increasing need for the transportation of passengers and cargo leads to the growing demand for new and innovative aircraft across the globe. In turn, the growing demand for aircraft boosts the aerospace and defense industry. The production of aircraft components has witnessed to rise the of 3D printing technology and it is proving to be effective as it uses filaments.

The usage of filaments in the manufacturing process of aircraft results in the reduction of weight for the manufactured products, achievement of complex & customized designs, and minimal wastage. Due to the above-mentioned benefits, the demand for 3D printing filament in the aerospace and defense industry has increased in recent years. The growing adoption of 3D printing filaments in the aerospace and defense industry is one of the key global market trends.

Major Drivers

Government initiatives to support the demand for 3D printing

3D printing is used in various industries, as it reduces operating time & manufacturing costs and enables the mass production of industrial goods. Several governments across the globe are undertaking initiatives to support the demand for the 3D printing process in numerous industries. Substantial investment initiatives in the digital economy by governments in Europe and Asia Pacific are expected to improve 3D printing in these regions.

Scanning technologies are anticipated to create a high momentum in Europe and Asia Pacific regions in the coming years. In 2018, the UK government declared investments of approximately USD 150 million for the Nuclear Advanced Manufacturing Research Centre in Rotherham and Sheffield. In 2016, the South Korean government announced an investment to develop 3D printing in various sectors.

Increasing adoption of 3D printing filament in the healthcare industry

An increasing number of 3D printing filament manufacturers are offering products and services for printing objects. Especially for medical applications, the demand for medical components and devices such as face masks, ventilator splitters, swabs, and others is increasing rapidly. Several manufacturers have shifted their production towards medical emergency requirements. This opens new opportunities for application areas of global 3D printing filaments in the medical industry and spurs the growth of the market.

Existing Restraints

Health hazards during the production of 3D printing filament

According to the Illinois Institute of Technology, 3D printers produce 200 billion tiny toxic particles per minute while processing the filament. Inhaling these tiny toxic particles can cause irritation in the lungs. These particles get transported to the brain as well. These printers can use elements such as nylon filament that produce caprolactam that causes serious stomach, neurologic, and heart conditions.

Some printers use ABS filament that produces styrene, which can lead to cancer as well. Wear and tear the level of ultrafine particles (UFPs) and volatile organic compounds (VOCs) produced in 3D printers increases the various health hazards. Health hazards connected to 3D printing filament are expected to hamper the global 3D printing filament market growth in the coming years.

Emerging Opportunities

Increasing research and development in 3D printing filament

Increasing research & development activities in the 3D printing industry offer growth opportunities to market players across the globe. Research institutes, raw material suppliers, compounders, and additive manufacturers adopt various research activities to develop innovative and enhanced printing processes. Manufacturers develop materials that give 3D printing professionals a competitive edge to improve faster and more reliable printing. Innovative research facilitates cost reduction, reduced time consumption, and customization in the 3D printing process.

Scope of the 3D Printing Filament Market Report

The report on the 3D printing filament market includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

3D Printing Filament Market Segment Insights

Plastic segment to expand at a significant growth rate

Based on type, the global 3D printing filament market is divided into metals, ceramics, and plastics. The plastic segment is expected to expand at a significant growth rate during the projected period, as the plastic segment holds the largest market share in the production of 3D printing filament. Plastic segment is further divided into polylactic acid (PLA), photopolymer, polyethylene terephthalate (PET), acrylonitrile butadiene styrene (ABS), and others.

Most commonly used types of plastics are ABS and PLA. The high availability of plastics for the production of 3D printed objects, compatibility of the material with fused deposition modeling (FDM) printers, and high uses of plastics in various applications drive the growth of the plastic segment in the market. The growth of the global 3D printing filament market is attributed to the low prices of plastics materials in countries such as Japan, South Korea, and China.

Manufacturers in Asia Pacific are increasingly engaging in the production of plastic-based filament. These are the major factors boosting the segment growth in the coming years. The metal segment is anticipated to expand rapidly during the forecast period. High strength, high-temperature resistance, and lightweight are some of the metal benefits that boost the demand for the material in the market. Aluminum, stainless, and titanium are widely used in printing complex structures, for manufacturing and prototyping object industries such as automotive and aerospace.

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Medical & dental segment to register a considerable CAGR

On the basis of end-user, the global 3D printing filament market is segregated into medical & dental, electronics, aerospace & defense, automotive, and others. The medical & dental segment is projected to register a considerable CAGR during the forecast period, owing to the rising demand for plastic filaments such as prosthetics, components, medical devices, and implants. The use of biodegradable PLA is increasing in the printing of prosthetics and implants, which drives the growth of the medical & dental segment.

During the COVID-19 period, plastic and metal filaments were used in the printing of medical & dental components and devices such as PPE kits, ventilator splitters, and face masks. The demand for filaments and 3D printing technology in the medical & dental industry boosts the growth of the global 3D printing filament market. The aerospace & defense segment is anticipated to account for a major market share in the coming years, due to the increasing demand for lightweight and high-strength printing materials in the aerospace & defense industry.

Aerospace parts and components designed by 3D printing technology are lighter and more cost-effective than the parts produced through other technologies. Factors such as increasing environmental awareness and the reduction of fuel costs & emissions are expected to minimize the environmental impact, which boosts the aerospace & defense segment.

North America to dominate the market

In terms of regions, the global 3D printing filament market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to dominate the global market during the projected period, due to the high emphasis on renewable energy in the manufacturing industry in the region. The high demand for 3D printing filament in industries such as automotive, medical, and aerospace in the US and Canada boost the market in North America.

North America is the largest consumer in the aerospace & defense industry, as it offers high-demand opportunities such as printing of metal guns, engine parts, rocket parts, space telescopes, and jet wings. Moreover, the region is rapidly growing in the automotive and medical & dental industries, which increase the demand for the market in implants, tooling, and prosthetics applications. A large cluster of key market manufacturers headquartered in North America operates in the 3D printing filament market by adopting organic and inorganic strategies to stay competitive in the market.

The Asia Pacific is anticipated to have the second-largest market revenue share during the forecast period, due to increasing expenditure in the manufacturing sector including the production of toys, fixtures, tooling, electronics, and others in the region. 3D printers offer a reduction in the manufacturing time for the above-mentioned products as compared to conventional Computer Numerical Control (CNC) machines.

India is the fastest-growing 3D printing filament market and is anticipated to become the fifth-largest market in the world by 2021. An Indian government initiative called Make in India is aimed at making the country a global manufacturing hub. Industries such as healthcare, aerospace, and automotive have been the key driver for 3D printing in India, owing to the early demand for the technique.

In Europe, the 3D printing filament market is anticipated to grow at a significant rate of 17.6% over the forecast period, owing to the increasing manufacturing of automotive and aircraft components in the region. However, strict policies concerning the use of non-biodegradable materials such as ABS and other high-performance polymers are likely to restrain the 3D printing filament market in Europe.

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