3D Printing Filament Material Market: Current Analysis and Forecast (2022-2028)

3D Printing Filament Material Market: Current Analysis and Forecast (2022-2028)

3D printing filament material refers to the plastic or other materials used to create three-dimensional objects using a 3D printer. The filament is fed into the 3D printer, which heats and melts the material, and then extrudes it through a small nozzle to build up the object layer by layer. These are used in the manufacturing of electric and lighting systems such as headlamps, ignition or engine elements, electric switches, frames, and bulb sockets. Additionally, these are also used in the medical sector to produce disposable and multiple-use medical devices, probe casings, or monitors. Furthermore, many players are adding new products to the market to improve the material sustainability of the films. For instance, in May 2022, Brazilian petrochemical firm Braskem released its first line of sustainable 3D printing filaments.

The 3D Printing Filament Material Market is expected to grow at a significant rate of around 19% owing to the growing availability of biodegradable 3D printing filaments coupled with the growing adoption of 3D printing filament material in the aerospace and defense industry for design communication and prototyping. Major companies in the market are working toward their product portfolio by introducing better market-driven solutions. For instance, In June 2020, Koninklijke DSM N.V. acquired Clariant's 3D printing materials business, allowing it to manufacture high-performance filaments and pellets quickly based on application needs. As a result of the strategy, DSM's engineering-grade filament, pellet, and powder portfolio will be reinforced to improve speedy market-driven product development solutions.

• Based on type, the market is segmented into plastics, metals, ceramics, and others. Plastic type is to witness the highest CAGR during the forecast period owing to its production in the making of 3D printing filament. Among plastics, acrylonitrile butadiene styrene (ABS) and polylactic acid (PLA) are the most utilized type of plastics. The high availability of plastics to produce 3D printed objects coupled with excellent compatibility of the material with Fused deposition modeling (FDM) printers are driving the growth of the plastics segment in the 3D printing filament market. Furthermore, some of the major countries in the Asia Pacific region such as China, Japan, and South Korea have low prices of plastic materials in the regions which are in turn increasing their demand in the market.
• On the basis of application, the market is categorized into industrial, aerospace & defense, automotive, healthcare, and others. Among these, the aerospace & defense industry will hold a significant market share in 2021. This is mainly due to the growing demand for printing materials that are strong and lightweight for mass-customizing aerospace parts and components as well as for producing many design prototypes. The aircraft industry was one of the first to use 3D printing technology to prototype and commercially create components and parts made of plastic and metal. Thus, the demand for 3D printing filament is anticipated to increase throughout the forecasted period as additive manufacturing is increasingly used to produce aerospace components around the world for cost-effective solutions.
• For a better understanding of the market adoption of the 3D printing filament material industry, the market is analyzed based on its worldwide presence in the countries such as North America (The United States, Canada, Rest of North America), Europe (Germany, The United Kingdom, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because of the growing effects of price drops and the rapid adoption of 3D printing technology, which is driving up demand for 3D printing services in prototype, product design, and concept modeling. Additionally, the region is anticipated to rise because of the early adoption and advancement of superior 3D printing technology as well as the considerable presence of manufacturers. Furthermore, the growing demand for 3D printing technology from APAC manufacturing businesses as well as numerous government-led programs and regulations in the fields of healthcare, construction, and education. Many major players are working towards increasing their business portfolio in the market of 3D printing filament market. For instance, BASF to strengthen its position in the 3D printing market and widen its sales channel with the purchase of Sculpteo.
• Some of the major players operating in the market include 3D Systems, Koninklijke DSM N.V., Materialise NV, Evonik Industries AG, Arkema S.A, Saudi Basic Industries Corporation, BASF 3D Printing Solutions GmbH, DuPont de Nemours Inc., EnvisionTEC, CRP Technology srl.