Advanced Materials and Chemicals

3D Printing Filament Market is Expected to Reach USD 4,989.5 million by 2031

Jun 2024

Advanced Materials and Chemicals

As per the report published by Kings Research, the global 3D Printing Filament Market was valued at USD 1,069.7 million in 2023 and is projected to reach USD 4,989.5 million by 2031, growing at a CAGR of 5.09% from 2024 to 2031.

Market expansion is primarily attributed to the widespread adoption of additive manufacturing technologies across various industries. Advancements in material science and technology have expanded the product landscape, offering a diverse  range of filaments to meet varied requirements and applications, including traditional materials such as PLA and ABS, as well as specialized options viz.,  flexible, composite, and metal-infused filaments. The escalating popularity of desktop 3D printers has made these filaments more accessible, driving further market expansion. This accessibility has enabled more individuals to explore diverse materials, fostering innovation and allowing users to materialize their concepts cost-effectively and efficiently. Moreover, the continuous development and introduction of new filaments are pushing the boundaries of additive manufacturing, creating new avenues for industries like healthcare and aerospace, which is positively influencing the market outlook. 

Key Insights

  • Based on type, the plastics segment held the largest market share of 59.3% in 2023
  • Based on end use, the aerospace & defense segment dominated the market with a 32.8% share in 2023
  • On the basis of region, North America accounted for the largest market share of 35.2% in 2023

Polymaker Launches New High-speed 3D Printing Filament PolySonic PLA & PLA Pro

September 2023: Polymaker launched a new high-speed 3D printing filament, PolySonic PLA & PLA Pro. With this launch, the company aimed to boost the productivity of 3D printers, facilitating a higher volume of parts per hour without compromising on printing characteristics or the mechanical strength of the printed part.

Growing Adoption of 3D Printing Technology in Manufacturing and Prototyping Fosters Market Development 

The burgeoning adoption of 3D printing technology in manufacturing and prototyping industries is poised to support market growth. The cost-effective and efficient production capabilities offered by 3D printing have prompted companies to embrace this technology, resulting in a surge in the demand for high-quality filaments. Additionally, surging awareness regarding the benefits of 3D printing for creating prototypes, custom parts, and functional products has further fueled the industry expansion.

Furthermore, advancements in filament materials and technology have also played a significantly role in driving the adoption of 3D printing in various industries, as they enable the production of stronger and more durable parts. The continuous innovation and development in 3D printing technology are expected to further fuel market expansion. With increasing number of industries adopting additive manufacturing, the demand for specialized filaments with unique properties such as flexibility, heat resistance, and conductivity is escalating. This trend is revolutionizing product design and manufacturing processes and presenting new opportunities for businesses to provide customized solutions to their customers, which is aiding market growth. 

Increased Demand for Personalized and Customized Products Boosts 3D Printing Filament Market Growth

Surging demand for customized products has led to a significant rise in the adoption of 3D printing technology. This shift toward customization has driven the growth of the 3D printing filament market as consumers seek materials capable of materializing their unique designs. Advancements in filament options, such as flexible, glow-in-the-dark, and wood-infused materials, have provided users with the ability to create personalized products that cater to their specific preferences and requirements. This rise in preference for personalized manufacturing has transformed the traditional methods of production and consumption, fostering further innovation and expansion in the 3D printing filament market. As more individuals and businesses recognize the potential of 3D printing, the demand for a wide range of filament options is increasing. Manufacturers are continuously developing new materials to meet the diverse needs of consumers, which is foreseen to bolster the expansion of the 3D printing filament market.

North America Accounted for Largest Market Share with a Value of USD 376.1 Million in 2023

North America emerged as the dominant player in the 3D printing filament market, primarily attributed to its strong foundation in technology and innovation. with leading manufacturers and research institutions concentrated in the United States and Canada. This concentration has facilitated the development of high-quality filaments that meet the diverse demands of various industries. Additionally, North America boasts a large and diverse consumer base that is widely adopting new technologies, thereby driving the demand for 3D printing filaments. Furthermore, the presence of well-established distribution networks and robust logistics infrastructure are enabling companies to efficiently bring their products to market, which is estimated to aid regional industry development over the review timeline.

Market Players Focus on Launching New Products to Gain a Competitive Edge 

The global 3D printing filament market study is consolidated with significant players in the market, such as Höganäs AB, 3D Systems Corporation, General Electric, Arkema S.A, Royal DSM N.V, Stratasys, Ltd., Evonik Industries AG, ExOne, and Arcam AB, among others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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