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3D Printing Filament Global Market Report 2022: Growing Technological Advancement for Sustainable Development Presents OpportunitiesDUBLIN, Jan. 10, 2023 /PRNewswire/ -- The "3D Printing Filament Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Material (Plastics, Metals & Ceramics), By Type (ABS, PLA, PVA, PET and Others), By End Use, By Region and Competition" report has been added to ResearchAndMarkets.com's offering. Global 3D Printing Filament Market is projected to grow at an impressive rate through 2028 due to the annually increasing demand from aerospace industry. In 2020, the export value of the aerospace industry in Japan amounted to approximately USD 4.25 billion. Contrary to conventional printing, which uses materials like composites, nylon, and other hybrid filaments, fused filament manufacturing processes produce prototypes for aerospace and defense, automotive, and industrial application segments more quickly. Market participants are increasingly drawn to invest in 3D printing filament due to growing innovation, research, and development in the field, including the use of multi-property materials and biodegradable 3D filaments. Furthermore, the market for bio-degradable 3D printing filaments is expanding due to stringent environmental laws implemented by European nations. The creation of creative figurines, models, statues, and art and design projects is credited as the driving force behind the use of ceramics for printing. Additionally, it's frequently used in the biomedical industry to create customized implants like 3D bone substitutes. However, building complicated components and parts using ceramic filment is expensive and labor-intensive. As a result, the major market players are spending money researching and developing novel printing techniques. Promising Demand from Aerospace and Defense Industry The aerospace and defense application market accounted for high usage in creating design prototypes. Demand for 3D printing filament is anticipated to increase throughout the forecasted period as additive manufacturing is increasingly used to produce aerospace components worldwide for cost-effective solutions. A typical aircraft component and parts created using 3D printing technology are lighter and reduce air drag, which lowers fuel costs. Additionally, during the anticipated period, the demand for 3D printing filament is expected to rise due to factors including rising environmental consciousness and declining fuel costs and emissions that are likely to reduce the environmental effect. Growing Technological Advancement for Sustainable Development The 3D printing filament industry is seeing good market expansion due to various product development stages. Major component producers in the fields of aerospace and defence, automotive, industrial, and healthcare include India, China, Brazil, South Korea, and Malaysia. During the anticipated period, this is probably going to propel market growth even higher. By opening its first Kepstan PEKK (Poly-Ether-Ketone-Ketone) factory in Alabama, US, Arkema SA expanded the manufacturing of 3D printing filament material in March 2019. With this development, the company aimed to increase its selection of advanced materials for use in the most demanding industries, including aerospace, oil & gas, electronics, and automotive. Report Scope:
3D Printing Filament Market, By Type:
3D Printing Filament Market, By End Use:
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For more information about this report visit https://www.researchandmarkets.com/r/ukqkg9 About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/3d-printing-filament-global-market-report-2022-growing-technological-advancement-for-sustainable-development-presents-opportunities-301717280.html SOURCE Research and Markets |