(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 02:38 /Comserve / -- Global 3D Printing Filament Market 3D printing filament is a thermoplastic feedstock melted and molded into a desired shape and size. The filament gets fed into the heating chamber of the printers,
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Global 3D Printing Filament Market 3D printing filament is a thermoplastic feedstock melted and molded into a desired shape and size. The filament gets fed into the heating chamber of the printers, where it melts and is then squeezed out of the metal nozzle to create a 3-dimensional object by tracing the programmed path from the 3D object file. According to the MarkNtel Advisors' research report,“Global 3D Printing Filament Market Analysis, 2021,' the market is likely to grow at a CAGR of around 25% during 2021-26. The increasing demand for adopting simple methods for product manufacturing is the primary factor driving the 3D printing filament market growth.
Moreover, the ability of filament-based 3D printers to produce an object with complex structures and the low price of filament compared to other 3D printing material contributes to driving the 3D printing filament market during the forecast period.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global 3D Printing Filament Market Future Growth, and Revenue Forecast, (2021-2026)
Impact of COVID-19
Due to the outbreak of the COVID-19 pandemic, the Global 3D Printing Filament market has witnessed a decline in its growth. It was primarily due to a massive downfall in the production capacity, low demand, and supply chain disruptions of 3D printing filaments.
Additionally, reduced working employees and the operational expenditure by companies negatively affected the market. However, 3D printing filaments producing medical devices would provide new opportunities for market growth in the coming years.
Plastic Segment Accounted for the Largest Market Share
Based on the type, the plastic segment acquired the largest market share in 2019. The segment growth attributes to the abundant availability of plastics for producing 3D printed objects and the filament compatibility with printers.
Besides, an extensive application of plastics coupled with its low price contributes to the growth of this segment in the forecast period, reveals MarkNtel Advisors in their research report, 'Global 3D Printing Filament Market Analysis, 2021.'
Healthcare Registers Fastest Growth
Based on the application, the healthcare segment is likely to be the fastest-growing segment in the coming period owing to the high demand for producing medical devices and components. However, several medical applications like implants & prosthetics use plastic filament, which is a biodegradable material. Moreover, amid the COVID-19 outbreak, filament usage increased tremendously for printing products, such as PPE kits, face masks, and ventilator splitters, thereby propelling the growth of the 3D printing filament market.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global 3D Printing Filament Market Future Growth, and Revenue Forecast, (2021-2026)
Asia-Pacific to grow at a sturdy rate.
Asia-Pacific is likely to grow at a sturdy rate due to the constant growth of medical tourism and the development of the automotive industry in countries like India and China. The demand for 3D printing filament is high in the aerospace industry for its lightweight properties. Moreover, surging government investments in various 3D printing projects and rising R&D activities are likely to fuel market growth in the future.
The surge in a government initiative to support market growth
The global 3D printing filament market is likely to grow substantially due to mounting government initiatives to invest heavily in the 3D printing market because of its diverse applications. Further, plastic-based 3D printing filament is biodegradable, making it approved by environmental regulations, thereby soaring the demand for 3D printing filaments. 3D printing is extensive in various sectors like the automotive, defense, and healthcare industries because it reduces manufacturing costs and requires less operating time, thereby providing an opportunity for market growth.
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:
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global 3D Printing Filament Market?
2. What is the region-wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, opportunities, current and future trends and regulations in the Global 3D Printing Filament Market?
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Market Segmentation
1.4. Assumptions
2. Preface
3. Executive Summary
4. Impact of COVID-19 on Global 3D Printing Filament Market
5. Expert Verbatim- What our Experts Say?
6. Global 3D Printing Filament Market Dynamics
6.1. Growth Drivers
6.2. Challenges
6.3. Impact Analysis
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