3D Printing Extrusion Materials Market Is Estimated To Witness High Growth
Market Overview:
3D printing extrusion materials are primarily used in fused filament fabrication (FFF) 3D printers. These materials are available in the form of filaments, pellets, or powder. Some commonly used 3D printing extrusion materials include photopolymers, thermoplastics, metals, and ceramics. Thermoplastic materials such as acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), nylon and high-density polyethylene (HDPE) are widely used for extrusion-based 3D printing.
Market Dynamics:
Increasing demand from healthcare industry and growing adoption of 3D printing in medical applications are expected to drive the market growth over the forecast period. 3D printing techniques are widely being adopted in dental and orthopedic applications for prosthetics, implants and customized medical devices. Some key advantages of 3D printing in medical applications include reduced production time and costs, improved accuracy of implants and prosthetics.
Furthermore, increasing R&D investments by manufactures to develop advanced 3D printing extrusion materials with enhanced properties such as biocompatibility, strength and durability is also expected to fuel the market growth. For instance, recently Evonik Industries AG launched RESOMER PRINT premium 3D printing filaments for medical applications. The filaments offer high biocompatibility, sterilization stability and mechanical properties required for medical applications.
The global 3d Printing Extrusion Materials Market Share is estimated to be valued at US$ 3.69 Bn or 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.
SWOT Analysis
Strength: 3D printing extrusion materials offers customized solutions and on-demand manufacturing which helps reduce inventory costs and downtime. It provides design flexibility and functional parts. 3D printing technology uses fewer resources as it produces products only when needed.
Weakness: 3D printing extrusion materials are expensive compared to traditional manufacturing. It has limited capabilities for mass production. Post-processing of printed parts is complex and time consuming.
Opportunity: Increasing demand from various industries like aerospace, automotive, medical etc. will drive the market growth. Advancements in materials like polymers, metals will pave the way for new applications. Growing research in developing affordable materials will expand the market reach.
Threats: Availability of substitutes like CNC machining, injection molding limits the market. Stringent regulations over certain materials pose challenges. Lack of industry standards and skilled workforce are other threats.
Key Takeaways
The global 3d printing extrusion materials market is expected to witness high growth, exhibiting a CAGR of 19% over the forecast period, due to increasing demand from various industries and advancements in material technologies.
Regional analysis: North America dominates the market currently due to strong industrial base and presence of key players. Europe and the Asia Pacific regions are fastest growing markets owing to government support and expanding 3D printing adoption.
Key players: Key players operating in the 3D printing extrusion materials market are 3D Systems Corporation, Stratasys Ltd., Materialise NV, EOS GmbH, Arkema S.A., SABIC, Evonik Industries AG, DuPont de Nemours Inc., BASF SE, Dow Chemical Company, HP Inc., Royal DSM N.V., EnvisionTEC GmbH, CRP Group, Carbon, Inc.
Read More: https://blogger-veritas.blogspot.com/2023/11/3d-printing-filament-is-fastest-growing.html
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