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3D Printing Filament Market Segmented By filament type such as ABS Filament, PLA Filament, Others (PVA, PC etc.)
3D printing technology is growing at a rapid pace and is currently being adopted by small and large scale industries globally. A large number of manufacturers are inclining on 3D printing technology and advanced filament material for extrusion 3D printing. 3D printing is unlikely to replace many conventional manufacturing methods, yet there is a wide range of applications where a 3D printer can deliver a design quickly, with high accuracy.
The advantages associated with the 3D printing is that the designer can make better decisions in selecting manufacturing methods and facilitates to provide an optimal product. Manufacturers of 3D printing filament focus on engineered formulation blends and customer offered compounds, private labeling with 3D printers.
Along with this, the 3D printing filament manufacturers are also developing multi-property materials for 3D printing filament. In 3D printing, the molten filament is placed in layers through an adjustable nozzle to form a three-dimensional structure. The individual layers fuse onto one another, and the material solidifies as it cools down, allowing complex geometries to be realized as 3D prototypes. The market for 3D printing filament is expected to grow during the forecast period.
As the application of 3D printing is increasing in the industry, the need for advanced materials is high, resulting in the designing of new and innovative material by various 3D printing filament manufacturers. Demand for advanced 3D printing filament material is continuously rising in the end use industries demanding quality coupled with high performance.
Many 3D filament manufacturers are investing in developing 3D printing filament material with superior chemical, thermal, electrical, and performance to encounter the need of key end-use industries including defense, aerospace, and consumer goods.
Research and development activities have amplified to provide advanced and innovative eco-friendly material solutions giving plunge to the growth of global 3D printing filament market. Moreover, the manufacturers of 3D printing filament are focusing on the development of eco-friendly polylactic acid (PLA) material owing to its bio-degradable nature. The market for 3D printing filament is anticipated to have a positive outlook during the forecast period.
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Geographically, the global 3D printing filament market is divided into seven key regions as North America, Western Europe, Latin America, Eastern Europe, the Asia Pacific excluding Japan, Middle East & Africa, and Japan. Among these, North America accounts for the largest share in the global 3D printing filament market.
The growth in the North America region is attributed to early adoption and development of advanced 3D printing industry complemented by the strong presence of 3D printing filament manufacturers of material in the region. Furthermore, the penetration of 3D printing into various and large end-user sectors such as automotive and consumer electronics has propelled the growth of the 3D printing filament market in the region.
Followed by North America, Asia Pacific 3D printing filament market is witnessing an emerging trend and is further expected to expand at a significant growth rate in the global 3D printing filament market over the forecast period. Innovation and development of 3D printing filaments focusing on the specific application are anticipated to drive the growth of 3D printing filament market in the Western and Eastern European region.
Some of the key players operating in the 3D printing filament market are Evonik Industries, Filabot, Solvay AG, LG Chem, Voxeljet AG, Markforged, Inc., Proto Labs, Inc., Carbon, Inc., Materialise NV and among others. Many local and unorganized market players are expected to contribute to the global 3D printing filament market during the forecast period.