SAN FRANCISCO, Dec. 16, 2020
SAN FRANCISCO, Dec. 16, 2020 /PRNewswire/ -- The global 3D printing filament market size is anticipated to reach USD 1.9 billion by 2027, according to a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 18.8% from 2020 to 2027. Increasing enhancements for aerospace and defense components, parts, and prototype models are expected to drive the demand for 3D printing filament in the estimated time. Moreover, the rising demand for durable and light weighted automotive body parts such as car's front splitters, front and rear bumper panels, is likely to support the market growth in the estimated time.
Key suggestions from the report:
Read 100 page research report with ToC on "3D Printing Filament Market Size, Share & Trends Analysis Report By Type (Plastics, Metal, Ceramics), By Plastic Type (Polylactic Acid, ABS), By Application (Industrial, Aerospace & Defense), By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/3d-printing-filament-market
The adoption of 3D printing for the producing of high-performance components in aerospace and defense aircraft that are subjected to high-pressure and temperature is the major factor driving the market growth. In addition, low-volume parts and low processing costs in aerospace industry is expected to have a positive impact on the market. Furthermore, new design possibilities coupled with the application of robotics to produce end-arm tools are likely to influence the market in the projected years.
Technological advancement in the automotive industries involves body parts designs such as front-and rear bumpers, interiors, and tooling designs. The 3D printers aid the overall vehicular manufacturing resulting in the most advantageous and time-saving process in the automotive industry. Parts commonly printed in the automobile industry include cradles, fixtures, and front and rear bumper parts, which exhibit strong and durable properties. Plastics 3D printing filament is widely used owing to its low processing cost and ease of manufacturing.
Prominent players in the market are focusing to improve the lead-time in prototyping during the manufacturing process. Several applications of 3D printing filament include construction, medicine, and prototyping and manufacturing.
Grand View Research has segmented the global 3D printing filament market on the basis of type, plastic type, application and region:
List of Key Players of 3D Printing Filament Market
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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