3D Printing Filament Material Market is expected to display a significant growth of 19% due to the increasing adoption of biodegradable 3D printing filaments | UnivDatos Market Insights
NOIDA, India, March 17, 2023 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the 3D Printing Filament Material Market was valued at more than USD 300 million in 2021 and is expected to grow at a CAGR of around 19% from 2022-2028. The analysis has been segmented into Type (Plastics, Metals, Ceramics, and Others); Application (Industrial, Aerospace & Defense, Automotive, Healthcare, and Others); Region/Country.
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The 3D printing filament material market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the 3D printing filament material market. The 3D printing filament material market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the 3D printing filament material market at the global and regional levels.
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3D printing filament material refers to the plastic or other materials used to create three-dimensional objects using a 3D printer. The filament is fed into the 3D printer, which heats and melts the material, and then extrudes it through a small nozzle to build up the object layer by layer. These are used in the manufacturing of electric and lighting systems such as headlamps, ignition or engine elements, electric switches, frames, and bulb sockets. Additionally, these are also used in the medical sector to produce disposable and multiple-use medical devices, probe casings, or monitors. Furthermore, many players are adding new products to the market to improve the material sustainability of the films. For instance, in May 2022, Brazilian petrochemical firm Braskem released its first line of sustainable 3D printing filaments.
Factors such as high-quality print in industrial and automotive applications coupled with the growing adoption of 3D printing filament material in the aerospace and defense industry for design communication and prototyping, increasing adoption, and product launches in the market are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include 3D Systems, Koninklijke DSM N.V., Materialise NV, Evonik Industries AG, Arkema S.A, Saudi Basic Industries Corporation, BASF 3D Printing Solutions GmbH, DuPont de Nemours Inc., EnvisionTEC, CRP Technology srl.
The onset of the COVID-19 pandemic exhibits a negative influence on the global 3D printing filament material market. The stringent lockdown regulations across several nations have led to the temporary shutdown of several manufacturing facilities for 3D printing filament material, thereby resulting in supply chain disruptions and slow growth in the telecom and IT industry due to the COVID-19 pandemic moderately affecting the 3D printing filament material market.
The global 3D printing filament material market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
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3D Printing Filament Material Market Geographical Segmentation Includes:
APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly because of the growing effects of price drops and the rapid adoption of 3D printing technology, which is driving up demand for 3D printing services in prototype, product design, and concept modeling. Additionally, the region is anticipated to rise because of the early adoption and advancement of superior 3D printing technology as well as the considerable presence of manufacturers. Furthermore, the growing demand for 3D printing technology from APAC manufacturing businesses as well as numerous government-led programs and regulations in the fields of healthcare, construction, and education. Many major players are working towards increasing their business portfolio in the market of 3D printing filament market. For instance, BASF to strengthen its position in the 3D printing market and widen its sales channel with the purchase of Sculpteo.
The major players targeting the market include
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the 3D printing filament material market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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