April 3, 2019
The “3D Printing Filament Market by Type, End-Use Industry, Region – Global Forecast to 2023” report has been unveiled by ResearchAndMarkets.com, forecasting a significant rise between 2018 and 2023.
The 3D printing filament market is estimated to be $1.3 billion (€1.1 billion) in 2018 and is projected to reach $4.4 billion (€3.9 billion) by 2023, at a CAGR of 27.1 percent from 2018 to 2023.
Key factors expected to drive the 3D printing filament market include increasing applications in various end-use industries and improving awareness related to the use and advantages of 3D printing technology. High installation and operating costs of 3D printing equipment are some of the major restraints for the growth of the 3D printing filament market.
Plastics are expected to be the most consumed material in filament form in the 3D printing filament market during the forecast period.
Based on type, plastics are the most consumed and commonly used material in filament form as compared to other materials due to their feasibility, availability, properties, and cost-effectiveness. Among plastics, ABS and PLA are the most consumed material. The market for the ceramics material is expected to grow at the highest CAGR during the forecast period.
The aerospace and defence end-use industry is expected to lead the 3D printing filament market during the forecast period. This growth can be attributed to the rise in the global demand for 3D printing filament majorly in plastic form. Moreover, increasing applications in various end-use industries such as aerospace and defence, healthcare, fashion, education, and others are expected to drive the growth of the 3D printing filament market. In addition, this industry is expected to witness a growing demand from developed regions such as North America and Europe.
North America is expected to lead the 3D printing filament market during the forecast period due to technological advancements and growth in various end-use industries such as aerospace and defence. The 3D printing filament market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing awareness and knowledge among people about the advantages of 3D printing technology, materials, and services.
The leading 3D printing filament manufacturers, globally, profiled in this report are Stratasys, Ltd. (US), 3D Systems Corporation (US), Arkema S.A. (France), Koninklijke DSM N.V. (Netherlands), Materialise NV (Belgium), Evonik Industries AG (Germany), SABIC (Saudi Arabia), Clariant (Switzerland), HP Inc. (US) and DowDuPont (US), among others.
To read the report for yourself, click here.
Categories : World Focus