3D Printing Filament Market Set to Grow at over 20% CAGR through 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 Type, By End Use, By Region, Competition, Forecast & Opportunities, 2024”, global 3D printing filament market is projected to grow at a CAGR of 24% during 2019-2024 on account of increasing applications of 3D printing filament in numerous end-use industries and growing awareness about 3D printing technology. Global 3D printing filament market has been segmented as material, type, end use and region. Based on end-use industry, the market has been categorized into medical & dental, automotive, consumer goods, aerospace & defense and others. Among these, aerospace & defense sub-segment is anticipated to witness the fastest growth in global 3D printing filament market owing to rising application of 3D printing technology in aerospace and defense sector. Moreover, demand backlog of approximately equal to 10 years of Boeing is further anticipated to result in surge in demand for 3D printing filaments in this sector.

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Based on type, global 3D printing filament market has been segmented as plastics, metals & ceramics. 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.

“Regionally, global 3D printing filament market is segmented into North America, South Europe, Asia-Pacific and Rest of world. Among these regions, North America leads the market, owing to the growing demand for 3D printing filament from the US, Mexico and Canada. Additionally, increasing investments and awareness about 3D printing filaments in these countries are further anticipated to fuel growth in North America 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 Type, By End Use, 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.

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