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HomeTechnology News3D Printing Filaments Market Insights, Leading Players and Growth Forecast Report 2030

3D Printing Filaments Market Insights, Leading Players and Growth Forecast Report 2030

3D printing is an improved technique for the manufacturing of parts. It does not require a mold or a material block to produce physical objects. Rather, it extrudes material one layer at a time. It is characteristically fast, has little fixed cost, and can generate more-intricate geometries as compared to ‘traditional’ techniques. This is why it is extensively being used in the manufacturing industry, mostly for prototyping and making lightweight components.

Therefore, the total value of the 3D printing filament market is expected to touch $7,082.0 million by 2030, demonstrating a mammoth growth rate of almost 27% in the years to come. The main reason for the rising demand for these materials is the growing use of advanced technology instead of the traditional techniques for the manufacture of products. This is resulting in the augmenting use of 3D printing, which is essentially driving the consumption of 3D printing filaments.

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For making a 3D print, there is a requirement for a digital file telling the printer what is to be printed. The most-common file format used for this purpose is the G-code. This file basically comprises ‘coordinates’ to direct the movements of the printer, both vertically and horizontally, along the X, Y, and Z axes.

Plastic Filaments Leading the Way

Plastic filaments dominate the world of additive manufacturing, and their sales value will reach $5,965.1 million in the coming years, as they are used in the manufacturing of a wide range of products from prosthetics to parts for tabletop games. Further, compared to metals and ceramics, polymers are cheaper, which allows manufacturers to reduce their operational costs, which, ultimately, makes the end-product cost-effective.

Further, among the various kinds of plastics made into filaments for 3D printers, polylactic acid (PLA) accounts for the highest consumption. PLA is made from vegetable sources, using cornstarch as the primary raw material. It is a biodegradable polymer, which is why it finds wide application in medical sutures that are intended to dissolve within the body in 6 months to 2 years. Other potential uses of 3D printing filaments made of PLA are low-weight aircraft components, low-tear toys, automobile interior parts, and consumer electronics.

North America Largest Consumer of 3D Printing Filaments

North America holds the largest share, of approximately 41%. Moreover, industrialists in the region will buy 3D printing filaments worth $2,920.6 million by 2030. The 3D printing technology is widely used for the creation of prototypes of aircraft components, auto parts, and artificial organs for implantation. An industrial 3D printer producer, EOS, had delivered 1,000 3D printers across the region till December 1, 2021.

Sintavia, which purchased the latest of the 1,000 systems, uses additive manufacturing to create rocket thrust chamber assemblies, turbomachinery components, high-performance heat exchangers and combustor assemblies, and advanced fuel systems for regional aerospace and defense OEMs.

Aerospace and Defense Firms Biggest Consumers of 3D Printing Filaments

The aerospace and defense sector generate the highest demand for 3D printing filaments, and product sales to them will touch $654.2 million by the end of this decade. This will be because of the presence of numerous key defense and aerospace manufacturers in Canada and the U.S., who have started integrating additive manufacturing in their processes. Airbus, Boeing, GE, and many other companies in the field are using 3D printing for aircraft and helicopter engines and their components, rocket injectors, and even complete aircraft.

Thus, with the manufacturing technology undergoing continuous advancements, the potential for 3D printing filaments will only widen in the years to come, especially considering their high-volume consumption in the medical devices and aerospace & defense industries.

SOURCE: P&S Intelligence