3D Printing Filaments Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Material (ABS, ASA, PLA, FLEX, Others), By Diameter (1.75mm, 2.85mm, 3mm), And By Geography - Forecasts From 2021 To 2026

The 3D printing filaments market is projected to grow at a CAGR of 25.57% to reach US$2,646.519 million by 2026, from US$537.618 million in 2019. Fused deposition modeling 3D printers utilize 3D printing filament as their thermoplastic feedstock. There are a variety of filaments available, each with its own set of characteristics and printing temperatures. The standard sizes of fused deposition modeling 3D printers are 1.75 mm and 2.85 mm. These models are widely available. 3D printing is utilized in a variety of sectors since it decreases operational time and manufacturing costs accompanied by allowing mass production of industrial items.

Various governments across the world are launching programs to encourage the use of 3D printing technology in various sectors. With the projected advancements in 3D printing and scanning technologies, significant investment initiatives in the digital economy by European and Asian governments are likely to produce strong momentum in these areas in the near future. For example, the UK government announced a USD 150 million investment in the Advanced Manufacturing Research Centre in Rotherham and Sheffield, as well as the Nuclear Advanced Manufacturing Research Centre in Rotherham, in 2018. Approximately USD 150.0 million was invested in the Singapore Center of 3D Printing (SC3DP) for research efforts in 3D printing technology during the last decade. India is one of the fastest-growing markets for 3D printing, and the country's manufacturing industry is quickly expanding, with the country's manufacturing sector anticipated to become the world's fifth-biggest by 2021. The Indian government's Make in India project is assisting the country's aim of becoming a worldwide manufacturing powerhouse. Because of its early acceptance, industries including automotive, aerospace, and healthcare have been significant drivers for 3D printing in India. Several firms have embraced 3D printing and a design-driven approach as a result of the Make in India initiative.

The expansion of the Global 3D Printing Filament Market is aided by rising awareness of 3D printing technology and its use in big and small businesses. The need for functional and high-performing prints also adds to the market's growth. In addition, increased applications in end-use sectors like aerospace and military, consumer goods, automotive, and others have fueled the 3D Printing Filament Market. The demand for improved filament material to create high-quality prints has increased. As a result, manufacturers are putting money into researching better filament materials. In addition, the availability of bio-degradable 3D filaments has piqued the interest of a number of businesses and amateurs. This has aided in the expansion of the 3D printing sector, allowing the Global 3D Printing Filament Market to expand. The 3D Printing Filament Market's growth has been aided by the existence of a large number of raw material suppliers.

Growth Factors

• Low manufacturing costs and time-efficient manufacturing to propel the market growth for 3D printing filaments.

One of the major reasons for the growth of the 3D printing filaments industry is the growing need for low manufacturing costs and time-efficient manufacturing. As the use of 3D printing grows in the industry, so does the need for sophisticated materials, prompting many 3D printing filament producers to develop new and creative materials. The need for sophisticated 3D printing filament material is steadily increasing in end-use sectors that demand high quality and performance. To meet the needs of major end-use sectors such as defense, aerospace, and consumer products, many 3D filament producers are investing in creating 3D printing filament material with better chemical, thermal, electrical, and performance. Research and development activities have increased in order to deliver improved and novel environmentally friendly material solutions, propelling the global 3D printing filament market forward. Furthermore, because of its biodegradability, 3D printing filament producers are concentrating on the creation of environmentally friendly polylactic acid (PLA) material. During the forecast period, the market for 3D printing filament is expected to grow at a healthy pace.

Restraints

• 3D printing filaments may pose a health risk to employees.

A major restraint in the growth of the 3D printing filaments market is the potential health hazards for employees and workers from 3D printing filaments. On average, it has been observed during a recent study by the Illinois Institute of Technology that 3D printers generate 200 million to 200 billion small hazardous particles per minute when processing filament. When breathed, these particles can infiltrate the lungs, irritate the lungs, and can even reach the brain. The printers employ materials like nylon filament, which produces caprolactam, which can cause significant neurologic, gastrointestinal, and cardiovascular problems. Some printers that utilize ABS filament produce styrene, which might cause cancer. ABS filaments emit higher particle emissions than PLA filaments, although both filaments emit considerable quantities of pollutants that are hazardous to one's health. The quantities of ultrafine particles (UFPs) and volatile organic compounds (VOCs) generated by 3D printers grow with wear and tear, posing a variety of health risks.

Impact of COVID-19 on the 3D Printing Filaments Market 

The COVID-19 impact on the 3D printing filaments market has been negative owing to the production halt by industries due to the temporary lockdown implemented by several governments to break the cycle of the virus. The disruption in the demand and supply chain has further hampered the market in the forecast period. However, due to the high demand for medical components and equipment such as swabs, face masks, and ventilator splitters, 3D printing filament manufacturers are now providing their goods for printing medical things. A number of end-users have altered their manufacturing priorities to meet medical emergency needs. This offered new possibilities for 3D printing filaments in the medical business.

3D Printing Filaments Market Scope:

Segmentation:

• By Material
  • ABS
  • ASA
  • PLA
  • FLEX
  • Others
• By Diameter
  • 1.75mm
  • 2.85mm
  • 3mm
•  By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of the 3D printing filaments market?
A1. 3D Printing Filaments Market was valued at US$537.618 million in 2019.

Q2. What will be the 3D printing filaments market size by 2026?
A2. The 3D printing filaments market is projected to reach a market size of US$2,646.519 million by 2026.

Q3. What are the growth prospects for the 3D printing filaments market?
A3. The global 3D printing filaments market is projected to grow at a CAGR of 25.57% over the forecast period.

Q4. How is the global 3D printing filaments market segmented?
A4. The 3D printing filaments market has been segmented by material, diameter, and geography.

Q5. What factors are anticipated to drive 3D printing filaments market growth?
A5. One of the major reasons for the growth of the 3D printing filaments industry is the growing need for low manufacturing costs and time-efficient manufacturing.