Press Release

3D Printing Filament Market Set to Grow at 28% CAGR during 2019-2024

Growing demand for 3D printing plastic filaments from industries for mass production to boost global 3D printing filament market through 2024

According to a report released at TechSci Research, Global 3D Printing Filament Market By Material, By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024”, global 3D printing filament market is projected to grow at a CAGR of 28% during 2019-2024 on account of increasing applications in numerous end-use industries and growing awareness about 3D printing technology.

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Global 3D printing filament market has been segmented as material, end-use industry and region. Based on material, the 3D printing filament market is categorized into plastics, metals and ceramics. Among these, plastics are the most consumed material owing to their properties and low cost. Plastics are extensively used in various end-use industries. However, the ban on plastics ban in various developing countries, such as India, is the major hinderance for the growth of the 3D printing filament market.

Further, based on end-use industry, the market has been categorized into medical, automotive, consumer goods, aerospace & defense and others. Among these, the aerospace & defense sub-segment is anticipated to dominate the 3D printing filament market globally. Growing application areas of 3D printing technology and the demand backlog of approximately equal to 10 years of Boeing are anticipated to lead to a surge in the demand for 3D printing filaments. This growth in the aerospace industry is anticipated to drive the growth of 3D printing filament market during the forecast period.

Regionally, the market has been segmented into North America, South America, Europe, Asia Pacific and Middle East & Africa. Among regions, North America is expected to lead the 3D printing filament market during the forecast period, owing to the growing demand for the 3D printing filament from the US, Mexico and Canada. Additionally, increasing investments and awareness about 3D printing filaments in several developing countries are anticipated to fuel the market.

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“Based on Material, global 3D printing filament market has been segmented as plastics, material & others. Of all, plastics are the most widely used material owing to their properties and cost-effectiveness. Moreover, plastics are extensively used in various end-use industries for numerous applications. However, plastic ban in several emerging economies, such as India, is the major hinderance for the growth of 3D printing filament market.” Said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global 3D Printing Filament Market By Material, By End-Use Industry, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of global 3D printing filament market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global 3D printing filament market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

 

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