The 3D printing filament market stood at $693.1 million in 2019 and will reach $7,082.0 million by 2030, registering a 26.8% CAGR during 2020–2030 (forecast period).
This growth can be ascribed to the rapid adoption of 3D printing technology in end-use industries like aerospace, automotive, and manufacturing. Application of filament in 3D printing allows the production of durable and lightweight components and parts. Moreover, the filaments aid in developing intricate and sophisticated designs on the components.
One of the key factors driving the 3D printing filament market is the rising penetration of 3D technology in the aerospace industry. Expansion of the aerospace and aviation sector has led to the high demand for new aircraft to ferry more cargo and passengers.
To cater to this demand, aircraft manufacturers are producing high volume of aircraft components that are being created by using 3D printing technology. The deployment of this technology has surged significantly, as 3D printers utilize filaments to manufacture components with low weight and high strength.
Moreover, burgeoning demand for 3D printed parts and components from the automobile sector will accelerate the 3D printing filament market in the coming years. Automakers are making huge investments in the research and development (R&D) of this technology to reduce the vehicle weight and enhance the strength of automobiles. Moreover, utilization of these novel components amplifies the aesthetics of the vehicles. Due to these factors, the vehicle manufacturers have started creating components like air ducts, functional mounting brackets, full-scale panels, and interior parts through filament-based 3D printing.
The type segment is categorized into plastics, polylactic acid (PLA), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate glycol (PETG), acrylonitrile styrene acrylate (ASA), metals, and ceramics. Among these, the plastics category held the largest market share in 2019, and it will maintain its dominance throughout the forecast period. This is attributed to the easy availability, cost-effectiveness of raw material, and lesser intricacy of plastic-based filaments as compared to other types. 3D printing is a costly affair and the usage of plastics helps in curtailing the cost to a considerable extent.
Globally, the North American 3D printing filament market generated the highest revenue in 2019 and it is expected to remain the frontrunner in the forecast period. This is attributed to the hefty investments in advancement of 3D technology and initial adoption of this technology in several North American nations.
Businesses are making hefty investments to integrate this technology with traditional manufacturing machines. Additionally, the presence of industry leaders like 3D Systems Corporation, Stratasys Ltd., Huntsman Corporation, and DuPont de Nemours Inc. will aid the market growth in the foreseeable future.
Whereas, the Asia-Pacific (APAC) 3D printing filament market will exhibit the fastest growth during the forecast period. This can be ascribed to the rapid development in 3D printing technology and extensive digital manufacturing of medical prototypes, automobile components, agricultural machinery, and industrial tools. Among APAC nations, China will account for the largest market share, on account of strong government support to promote 3D printing filaments. Additionally, the existence of automotive giants like Hyundai Motor Company and Toyota Motor Corporation and the improving healthcare industry across the region are also facilitating the market growth.
Thus, the expansion of the automobile and aerospace sectors will amplify the adoption of 3D printing filaments in the manufacturing of several components and parts.
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3D Printing Construction Market
Factors such as the surging environmental concerns regarding the waste generated by the construction sector, mounting investments being made in renewable energy infrastructure, and rising focus on reducing the accident rate and health and safety risks will drive the 3D printing construction market growth during the forecast period (2021–2030).
According to P&S Intelligence, the market revenue reached ~$15 million in 2020. Additionally, the presence of numerous possibilities for architectural flexibility and customization using this technology will supplement the market growth.
The increasing environmental concerns attributed to the waste generated during construction are one of the strongest drivers for the market. For instance, according to the Environmental Protection Agency (EPA), the construction sector of the U.S. generated around 600 million tons of debris in 2018.
The waste can be minimized by the deployment of the 3D printing technology as it only utilizes the material required for printing the structure. As the materials used in 3D printers are lighter than conventional building materials, their transportation requires lesser energy.
In recent years, the introduction of improved construction materials and methods has become a major trend in the 3D printing construction market. Sand 3D printing and metal technologies and robotic arm extruders are the new methods being deployed in the construction sector.
The deployment of these technologies helps in creating unusual and complex shapes and designs. For example, in May 2021, Forward AM, the additive manufacturing arm of BASF SE, and BigRep introduced the Concrete Formwork, a 3D printing material for architecture and construction purposes.
Geographically, Asia-Pacific (APAC) held the largest share in the 3D printing construction market in 2020 due to the soaring number of buildings being constructed using this technology and surging research and development (R&D) activities in the region.
Additionally, the strong presence of a large number of construction companies will supplement the market growth in the region, as the building and infrastructure industries are the primary users of materials that can be used for 3D-printied construction here.
3D Printing High-Performance Plastics Market
Factors such as the escalating demand for mass customization of products and increasing applications of 3D printing technology in the automotive, defense, aerospace, and aviation industries will facilitate the 3D printing high-performance plastics market growth during the forecast period (2021–2030). According to P&S Intelligence, the market revenue reached $73.5 million in 2020. In recent years, increasing shift of manufacturers from traditional production methods to 3D printing, due to the zero-material wastage, more customizability, and cost-effectiveness offered by this technology, has become a major market trend.
One of the key catalysts for the market growth is the widening application base of 3D printing high-performance plastics in the aerospace industry. The rising production of aircraft components, primarily on account of the mushrooming demand for aircraft to ferry more cargo and passengers. 3D printing technology is an effective method of producing aircraft parts, as it uses filaments, which help in reducing the weight of the manufactured products. Furthermore, the usage of filaments also assists in enhancing strength and designing and creating complex structures for aircraft components.
Furthermore, the application segment of the 3D printing high-performance plastics market is categorized into tooling, prototyping, and functional part manufacturing. Under this segment, the prototyping category accounted for the largest market share in 2020, and it is expected to retain its position in the forecast years as well. This is because of the ability of 3D printers to make multiple iterations of designs rapidly, through product testing. The application of 3D printing technology, therefore, saves money and time in running the tests with a functional prototype.
Geographically, North America held the largest share in the 3D printing high-performance plastics market in 2020, and it is expected to maintain its dominance throughout the forecast period as well.
This can be ascribed to the increasing investments being made in the research and development (R&D) of 3D printing materials, on account of the escalating focus on technological advancements. Moreover, the expanding manufacturing base of the robotics, aerospace, medical prostheses, and automobile industries in the region will also catalyze market growth in the forthcoming years.
Thus, the increasing demand for aircraft and automobiles will supplement the market growth in the foreseeable future.