Market Definition
Filaments made from ceramics, metals, or plastics are widely used in the 3D printing technology, principally due to their flexibility during the final shaping and lower costs than other materials. In addition, the filament is a thermoplastic that does not shrink or warp, which makes its application extensive & well-suitable for 3D printing. The following are the different types of 3D Printing Filaments:
Market Insights
The Global 3D Printing Filament Market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2021-26. The growing demand for plastic filaments to manufacture medical components and increasing applications of 3D printing in the aerospace & defense sector for rapid prototyping & design communication drive the market.
Moreover, the mounting trend of mass communication using 3D printing is also driving the global market. The growing demand for products with complex structures like medical implants, swabs, vehicle prototyping, aircraft components, and machining tools, among others, is also expected to boost the market in the coming years.
In addition, the technology has also led to the intervention of modern techniques to mold materials like plastics, polymers, wood, metals, etc., and has expanded its application across numerous verticals. Besides, the growing adoption of additive manufacturing, especially across the healthcare sector for prosthesis & dental implants, is also fueling the demand for 3D printing technology and directly impacting the production & sales of filaments.
Moreover, 3D printing technology is gaining significant traction across the educational sector to bridge the gap between the physical & digital worlds to help students closely understand complex structures, thereby driving the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 25% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy | |
| Asia-Pacific: China, India, Japan, South Korea | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: Saudi Arabia, South Africa | |
| Key Companies Profiled | Stratasys Ltd., 3D Systems Corporation, SABIC, Clariant, Evonik Industries AG, DuPont de Nemours Inc, Huntsman Corporation, Shenzhen Esun Industrial Co., Ltd. |
| Unit Denominations | USD Million/Billion |
Impact of Covid-19 on the Global 3D Printing Filament Market
In 2020, the Covid-19 pandemic severely impacted most industries worldwide. Yet, the Global 3D Printing Filament Market observed a slightly negative growth, mainly due to the presence of major production plants in those countries where the Covid-19 impact was incredibly high. The government of most countries imposed stringent movement restrictions & lockdowns to curb the virus spread.
As a result, the market witnessed challenges like reduced demand for 3D printing filaments, cut-short production, supply chain disruptions, and shut down of manufacturing units, among others. The temporary supply shortage was observed mainly from China, Southeast Asia, Germany, the UK, etc.
However, the market observed a hike from the healthcare sector for applications like printing medical objects, components, and devices like face masks, swabs, & ventilator splitters, among others, which, in turn, helped the leading players to sustain in the market amidst the crisis.
Nonetheless, as the pandemic situation improved in the later months of 2020, the market witnessed a gradual revival. The governments uplifted restrictions and allowed the recommencement of business operations at manufacturing units. Hence, it is anticipated that the leading players in the industry would invest substantially to bring technological advancements and uplift the overall market growth in the years to come.
Market Segmentation
Based on the Application:
Of them all, the Automotive application dominated the market with the largest share in recent years. The growing demand for 3D printing filaments across the automotive industry is principally to quickly produce prototype equipment, custom products and several lightweight components. For instance:
In June 2020, market giant Tesla Inc. used the 3D printing technology to produce the rear underbody component for its latest electric vehicle, Model-Y.
Furthermore, the adoption of 3D printing technology is also rising across the Aerospace industry & making a direct impact on the demand for filaments. Additive manufacturing in the aerospace sector displays extensive potential for the market, as the sector requires solid, robust, lightweight, and geometrically complex components manufactured in limited quantities. Hence, the demand for filaments is increasing significantly across the aerospace sector.
On the other hand, the healthcare sector also uses 3D printing filaments to build artificial tissues & muscles that imitate normal human functions and are used in substitution operations.
Based on the Type:
Of them all, Plastic filament is projected to reign the market with the largest share in the coming years. It owes to the increasing application of 3D printing technology across different verticals like automotive, aerospace, healthcare, & defense, among others, soaring the demand for high-performance materials like plastic filaments that are highly flexible & easy to customize as per the requirements. Besides, many applications need prototyping & the production of complicated designs, where plastic filament comes in very handy.
On the other hand, Metal filaments are anticipated to display the fastest growth in their demand during 2021-26. It owes principally to metals as a preferred choice across industries like healthcare for producing prosthetics & implants. Besides, these materials can be produced quickly without material loss, i.e., another crucial factor soaring the demand for 3D printing using metal filaments. Moreover, the growing utilization of 3D printing technology across sectors like aerospace, automotive, & industrial machinery to produce metal components is also fueling the overall market growth for Metal filaments.
Regional Landscape:
On the geographical front, the Global 3D Printing Filament Market expands across the following regions:
Of them all, North America dominated the market with the largest share in recent years, principally due to the increasing expenditure by developed countries like the US & Canada on advanced manufacturing technologies. In addition, increasing government investments in the research & development activities conducted by agencies like the National Aeronautics & Space Administration (NASA) for various space applications, coupled with the creation of new technologies to drive business expansion, are other critical aspects driving the regional market. Besides, with the growing application of 3D printing technologies across aerospace & defense, automotive, healthcare industries, etc., the regional market is progressing swiftly.
In the region, the US is anticipated to display the fastest growth in the regional market over the forecast years, owing to the growing attempts of the leading market players through new product launches entwined with improvements in the existing technology to gain a competitive edge in the market. For instance:
NASA would take minutes to hours to manufacture a space component using 3D printing technology. However, conventional methods would take around months & years to build the same.
On the other hand, Asia-Pacific is projected to display the fastest market growth in the coming years, owing principally to the mounting interest of the leading players in developing sustainable 3D printing technology. Besides, with the massive government funding, the market is anticipated to observe a rapid hike with the mounting demand for 3D printing filaments from China, India, Japan, and South Korea. Additionally, the rapidly expanding aerospace & defense, healthcare, automotive, consumer goods, and other industries in Asia-Pacific shall further boost the adoption of 3D printing technology & drive the regional market.
Further, amongst all regions, Europe acquires the second-largest share of the 3D Printing Filament Market. It owes to the increasing focus on the research & development by the governments of different countries & prominent leaders in the region to bring eco-friendly & biodegradable filaments with multi-property materials. Besides, stringent environmental regulations in Europe are also creating remunerative growth opportunities for the leading players in the market.
Recent Developments by 3D Systems Corporation
Market Dynamics:
Key Drivers
Widening Application of 3D Printing Across Different Verticals to Boost the Demand for Filaments
With the rising application of 3D printing technology across aerospace & defense, healthcare, automotive sectors, etc., the demand for filaments made with plastics, metals, or ceramics is projected to spur significantly in the coming years. The technology has displayed high use in the manufacturing of complex & small components & prototyping. For instance, titanium components in the aerospace industry are made using 3D printing technology owing to its high accuracy & mechanical properties.
Growth Restraints
3D printers radiate tiny toxic particles while processing the filament, which, when inhaled by the workers, can cause enter the lungs, cause irritation, and might even reach the brain. Printers that use the nylon filament emits caprolactam, which could cause some severe heart, neurologic, stomach conditions. On the other front, some printers use ABS filament that emits styrene, which can even cause cancer. Both PLA & ABS filaments produce a significant amount of emissions that result in serious health hazards. Hence, these aspects might act as critical restraints for the market growth during 2021-26.
3D printing requires the non-standard form of materials like liquid, powder, & filament. The processing of materials from standard to non-standard forms involves hefty expenditure, i.e., around 10 to 15 times higher than materials used in conventional manufacturing processes. Hence, this price factor could restrict the market growth during 2021-26.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global 3D Printing Filament market are Stratasys Ltd., 3D Systems Corporation, SABIC, Clariant, Evonik Industries AG, DuPont de Nemours Inc, Huntsman Corporation, Shenzhen Esun Industrial Co., Ltd.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The Global 3D Printing Filament Market is projected to grow at a CAGR of around 25% during 2021-26.
A. Plastics are anticipated to emerge as an area of lucrative opportunities for the leading players in the Global 3D Printing Filament Market during 2021-26.
A. The soaring demand for filaments like plastics, metal, & ceramics owing to the increasing use of 3D printing technology in the manufacturing of complex & small components & prototyping is the prime aspect expected to drive the Global 3D Printing Filament Market during 2021-26.
A. With the improving pandemic situation, the leading players are aiming to invest substantially in the 3D printing technology to bring technological advancements, which, in turn, shall uplift the market growth in the coming years.
