3D Printing extrusion materials are filaments or powders that are used in 3D printers for construction and manufacturing of objects through additive manufacturing. They provide advantages such as versatility in production, complex designs, reduced wastage, and quick production compared to conventional manufacturing. The global 3D Printing Extrusion Materials Market is estimated to be valued at US$ 5.2 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:
The increasing adoption of 3D printing across various industries such as automotive, aerospace, consumer goods, healthcare, education and others has been a major factor driving the growth of 3D printing extrusion materials market. 3D printing enables low volume production and prototype development at reduced costs. It provides complex designs and customized solutions to industries. With continuous technological advancements, 3D printing applications are widening and the materials used for printing are also evolving in terms of versatility and properties. The demand for specialized materials with high strength, durability and other performance characteristics is increasing from industries. Innovation in extrusion materials suitable for various 3D printing technologies is expanding the market growth.
The global 3D Printing Extrusion Materials Market is dominated by thermoplastics sub segment owing to its widespread applications in prototyping and manufacturing industries. Thermoplastics offer advantages like recyclability and capability to bond with various materials making it suitable for multi-material printing. Metals sub segment is also gaining traction due to increasing demand for high-strength printed parts in industries like healthcare and aerospace.
The global 3D Printing Extrusion Materials market is expected to witness high growth in the forecast period.
Regional analysis: North America holds the major share of the global 3D Printing Extrusion Materials market. The growth in the region can be attributed to presence of key players and continuous R&D by various industries for innovative applications of additive manufacturing. Rapid technological advancements and adoption of 3D printing for prototyping and manufacturing are driving the market in Europe. Investments by government and private players for developing innovative 3D printing technologies offers lucrative opportunities in the region.
Key players operating in the 3D Printing Extrusion Materials market are Stratasys, 3D Systems, Arkema, Royal DSM, The Dow Chemical Company, BASF 3D Printing Solutions GmbH, Evonik Industries AG, HP Inc., Clariant, EnvisionTEC GmbH.