The 3D printing extrusion materials are high performance materials such as thermoplastics, photopolymers, composites and ceramics which are used as filaments for 3D printing across industries. 3D printing extrusion materials enable additive manufacturing of complex parts having customized designs and geometries. Rising demand for 3D printed products in automotive, medical, aerospace and consumer goods industries has accelerated the adoption of 3D printing extrusion materials. The global 3D Printing Extrusion Materials Market is estimated to be valued at US$ 12 Billion in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for 3D printed products has emerged as a key trend propelling growth of the 3D printing extrusion materials market over the forecast period. Manufacturers are increasingly adopting 3D printing technology for production of customized parts and components due to advantages such as design flexibility, cost savings and reduced time-to-market. 3D printed parts find wide applications in automotive, aerospace, consumer products and medical devices industries. This widespread use of 3D printing technology has increased the consumption of various 3D printing extrusion materials such as thermoplastics and photopolymers for additive manufacturing applications.
SWOT Analysis
- Strength: 3D printing extrusion materials provide a cost effective and easy way of producing prototypes and finished goods with complex geometries.
- Weakness: High initial investment cost of 3D printers limits its adoption. Limited material choices available for extrusion based 3D printing.
- Opportunity: Growing adoption of 3D printing across industries such as automotive, aerospace, healthcare provides huge market opportunity. Development of new polymer materials suitable for 3D printing extrusion further expands application areas.
- Threats: Stiff competition from alternative additive manufacturing technologies such as stereolithography affects market growth. Volatility in raw material prices impacts production costs.
Key Takeaways
The global 3D Printing Extrusion Materials market is expected to witness high growth.
Regional analysis related content comprises North America dominates the 3D printing extrusion materials market currently due to strong industrial base and presence of key market players in the region. Growing adoption of 3D printing in industries such as automotive, medical and aerospace drives the market growth.
Key players operating in the 3D Printing Extrusion Materials market are 3D Systems Corporation, Arkema SA, Covestro AG, DSM, Materialise, Evonik Industries AG, Saudi Basic Industries Corporation (SABIC), Stratasys Ltd. Companies are investing in developing new bio-based materials to address sustainability concerns and meet needs of different application areas. Strategic partnerships are also shaping the competition among major market participants.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
