(MENAFN- GlobeNewsWire - Nasdaq) The global 3D printing filament market is propelled by factors such as development of new filament materials, advancements in 3D printing technology, and increasing adoption across various industries. Aerospace companies leverage 3D printing to produce lightweight, high-strength components, enhancing fuel efficiency and performance. Furthermore, 3D printing accelerates the design and testing of new aerospace components, reducing time-to-market. This is anticipated to increase the demand for 3D printing filament, thus notably contributing toward the growth of the global 3D printing filament market.Wilmington, Delaware , Sept. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " 3D Printing Filament Market by Material Type (Metals, Plastics, Alloys and Ceramics), and End-Use Industry (Automotive, Aerospace and Aviation, Household Equipment, Petrochemical, Medical, Electronics and Others): Global Opportunity Analysis and Industry Forecast, 2024-2031" . According to the report, the 3D printing filament market was valued at $0.9 billion in 2023, and is estimated to reach $2.3 billion by 2031, growing at a CAGR of 12.8% from 2024 to 2031.
Prime determinants of growth
The global 3D printing filament market is driven by the development of new filament materials, such as composite filaments reinforced with carbon fiber, metal-infused filaments, and high-performance engineering plastics, which in turn has significantly expanded the applications of 3D printing. These advanced materials offer enhanced mechanical, thermal, and chemical properties, making them suitable for demanding applications in industries like aerospace, automotive, and healthcare. Additionally, improvements in 3D printing technology, including higher precision, faster printing speeds, and larger build volumes, have enhanced the efficiency and quality of 3D printed parts. However, one of the primary restraints on the 3D printing filament market is the limitation of available materials and their inherent properties. While advancements have been made in developing new filaments, the range of materials that can be effectively used in 3D printing is still relatively limited compared to traditional manufacturing. This factor may restrain the growth of the 3D printing filament market during the forecast period.
Download Sample Pages of Research Overview:
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2031 |
| Base Year | 2023 |
| Market Size in 2023 | $0.9 billion |
| Market Size in 2031 | $2.3 billion |
| CAGR | 12.8% |
| No. of Pages in Report | 350 |
| Segments covered | Material Type, End-Use Industry, and Region. |
| Drivers | Escalating demand from aerospace & aviation sector Robust demand from automotive sector Growing demand from construction sector |
| Opportunities | Development of new 3D printing filament materials |
| Restraints | Technological constraints |
The plastics segment to maintain its lead position during the forecast period.
The demand for plastic-based 3D printing filament is growing due to its versatility, affordability, and suitability for a wide range of applications. Plastics materials such as PLA, ABS, PETG, and others offer excellent properties such as ease of printing, durability, and a variety of finishes, making them ideal for prototyping, hobbyist projects, and small-scale manufacturing. The increasing adoption of 3D printing in industries like automotive, aerospace, healthcare, and consumer goods drive the demand for these filaments, as they enable rapid prototyping, customized production, and cost-effective manufacturing processes. Additionally, advancements in filament technology, such as the development of stronger and more heat-resistant plastic blends, further expand their usability. The growing maker movement and educational initiatives also contribute to rising demand, as more individuals and institutions embrace 3D printing for innovation, learning, and creative projects.
Procure Complete Report (3 5 0 Pages PDF with Insights, Charts, Tables, and Figures) @
The aerospace segment to maintain its lead position during the forecast period.
The demand for 3D printing filament in the aerospace sector is growing due to its ability to produce lightweight, high-strength components with complex geometries, essential for aircraft and spacecraft applications. 3D printing enables rapid prototyping and customization of parts, reducing lead times and costs associated with traditional manufacturing methods. Moreover, the aerospace industry benefits from the development of advanced filament materials, including carbon fiber-reinforced plastics and heat-resistant alloys, which meet stringent performance requirements. Additive manufacturing also supports innovation in aerospace design, allowing for the creation of optimized parts that enhance fuel efficiency, reduce emissions, and improve overall performance. Additionally, 3D printing facilitates on-demand production of spare parts and tools, reducing inventory costs and downtime for maintenance operations. These factors collectively drive the growing demand for 3D printing filament in the aerospace sector.
North America to maintain its dominance by 2031
The demand for 3D printing filament in North America is growing due to several factors. Firstly, the region has a strong manufacturing base and a thriving innovation ecosystem, driving adoption across industries like aerospace, automotive, healthcare, and consumer goods. Additionally, increasing investment in research and development, coupled with supportive government initiatives and funding, accelerates technological advancements and market expansion. Furthermore, the rising trend of customization, rapid prototyping, and on-demand manufacturing drives demand for 3D printing filament, particularly in small and medium-sized enterprises. Moreover, the growing maker movement and educational initiatives promote 3D printing adoption among individuals, schools, and universities. Lastly, the region's robust supply chain infrastructure and established distribution networks ensure accessibility and availability of a wide range of 3D printing filament materials, contributing to market growth in North America region.
Want to Access the Statistical Data and Graphs, Key Players' Strategies:
Leading Market Players: -
Shenzhen ECO Industrial Co., Ltd.
The report provides a detailed analysis of these key players in the global 3D printing filament market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports " and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
...
Web:
Allied Market Research Blog:
Blog:
Follow Us on | Facebook | LinkedIn | YouTube |
MENAFN05092024004107003653ID1108641266
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.