The
manufacturing world has changed a lot since the start of the industrial
revolution. Clearly, great minds might have come up with different sort of
ideas for manufacturing products on an industrial scale. Some of the
traditional manufacturing techniques include subtractive manufacturing and
formative manufacturing (injecting modules). But, since there is scope of
improvement in almost every field, regardless of the time period, the notion of
3D printing came into being, and in 1987, Chuck Hull released the first 3D
printer, which changed the face of industrial manufacturing. With the
development of 3D printing techniques, the need for cutting tools or molding
reduced, and the manufacturing process became easy and more efficient.
In
3D printing, a component is manufactured directly onto a built platform, layer by
layer, by using different kinds of materials, which are referred to as
filaments. It is no wonder that the demand for 3D filaments is increasing with
the growing adoption of 3D printing. According to a P&S Intelligence
report, in 2018, the global 3D printing filaments market reached a value
of $544.8 million, and it is further expected to generate $2,146.2 million by
2024, progressing at a 25.4% CAGR during the forecast period (2019–2024).
Ceramics, metals, and plastics are some of the major materials which are used
in 3D printing.
Get a sample copy of the market analysis report: https://www.psmarketresearch.com/market-analysis/3d-printing-filaments-market/report-sample
These
filaments are used in different industries, namely healthcare, industrial,
consumer goods, automotive, and aerospace & defense. The components in the
aerospace & defense industry are complex in nature, and 3D printing is the
ideal way for manufacturing them. In addition to this, customized aircraft
components can be produced much more easily with 3D printing techniques, as
compared to conventional manufacturing techniques. Due to these reasons, the
adoption of 3D printing in the aerospace & defense industry is rising,
which, in turn, is resulting in the growth of the 3D printing filaments market.
Mass
customization is a major reason for the increase in the adoption of 3D printing
techniques. While the technology was first adopted by the aerospace industry,
it soon became the go-to option for other industries as well. Due to the changing
preference of people, product customization has become an important aspect for
companies to gain a competitive edge in the market. The usage of 3D printing,
instead of subtractive manufacturing, also reduces wastage and operational
costs. All these factors would further result in a growing demand for 3D
printing filaments in the near future.
The
requirement for these materials has been quite high in North America in the
past, which can be attributed to the rapid expansion of the aerospace & defense
industry and the early introduction of 3D printing for mass customization of intermediate
products in the region. Aircraft manufacturing companies in North America, such
as The Boeing Company and Lockheed Martin Corporation, are increasingly incorporating
3D printing into their production processes, which is creating a high requirement
for the materials used in 3D printers.
In
conclusion, the consumption of 3D printing filaments is growing due to the
rapid adoption of 3D printing for mass customization.
