3D Printing Extrusion Materials Market is Estimated To Witness High Growth Owing To Rising Adoption in Industrial Manufacturing

Market Overview:
3D printing extrusion materials commonly referred to as filaments are the key raw materials used in fused deposition modeling (FDM) 3D printing technology. The two most widely used 3D printing extrusion materials are polylactic acid (PLA) and acrylonitrile butadiene styrene (ABS) filaments. PLA filament is produced from corn starch or sugarcane and provides an eco-friendly solution for 3D printing. ABS filament provides high impact resistance and strength making it suitable for industrial and engineering applications.

Market key trends:
Rising adoption of 3D printing in industrial manufacturing is expected to be a major driver for the 3D printing extrusion materials market over the forecast period. 3D printing allows manufacturers to produce parts and final products on-demand which reduces warehousing costs and lead times. Industries such as aerospace, automotive and healthcare have significantly increased their investment in 3D printing technologies in recent years due to advantages such as design complexity, reduced waste and customized production. In addition, development of advanced 3D printing materials such as polyetherketoneketone (PEKK), polyether ether ketone (PEEK) which offer properties comparable or superior to metals is expected to augment the demand for 3D printing extrusion materials market.

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.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the 3D printing extrusion materials market is moderate due to high capital investment requirements for raw material manufacturing plants.

Bargaining power of buyers: The bargaining power of buyers is high as there are numerous players offering similar raw materials at competitive prices.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material producers and price fluctuations depend on crude oil prices.

Threat of new substitutes: There is a low threat of new substitutes as 3D printing extrusion materials have few substitutes and technologies are continuously improving their performance.

Competitive rivalry: The competitive rivalry is high due to presence of numerous global and regional players.

SWOT Analysis

Strength: Wide availability of diverse 3D printing extrusion materials and continuous innovations in material properties by key players.
Advanced research on novel materials is enabling applications in industries such as healthcare, aerospace, automotive.

Weakness: High initial investment requirements and volatility in raw material prices affect market growth. Limited availability of recyclable and eco-friendly materials restricts sustainability.

Opportunity: Growing demand from end-use industries and advancements in fused deposition modeling expand application scope. Government funding and initiatives drive adoption of 3D printing.

Threats: Stringent environmental regulations increase operating costs. Supply chain disruptions due to geopolitical issues pose risks.

Key Takeaways

The global 3d Printing Extrusion Materials Market is expected to witness high growth, exhibiting CAGR of 19% over the forecast period, due to increasing demand from aerospace and defense industries. Heavy investments by governments and OEMs promote additive manufacturing adoption.

Regionally, North America dominated the global market in 2023 attributed to rapid technological advancements and strong government funding. However, Asia Pacific is likely to grow at the fastest pace during the forecast period, owing to rising industrialization, particularly in China, India, and Southeast Asian countries.

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. These players are focusing on new product launches, partnerships, and capacity expansions to strengthen their foothold.

Read More: https://www.ukwebwire.com/the-new-avanue-for-3d-printing-extrusion-materials-market-growth-trends-and-forecast-analysis/

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