3D Printing Extrusion Materials Market: Adoption of Conductive Filaments in Electronics Prototyping

3D Printing Extrusion Materials Market: Adoption of Conductive Filaments in Electronics Prototyping

3D printing extrusion materials, also known as filaments, are plastic or metal materials used for additive manufacturing or 3D printing process. These materials are available in the form of filaments or pellets which are fed into a 3D printer through an extruder. Commonly used 3D printing extrusion materials include polylactic acid (PLA), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate (PET), high-impact polystyrene (HIPS), nylon, and wax among others. They are used to manufacture various prototypes, functional parts, and finished goods across industries due to advantages like reduced waste, mass customization, and complex 3D geometries manufacturing. The global 3D printing extrusion materials market is estimated to be valued at US$ 4 billion in 2024 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 Opportunity:

The opportunity in healthcare applications is driving the growth of 3D printing extrusion materials market. 3D printing finds significant usage in healthcare for manufacturing customized medical devices like dental crowns, prosthetics, and implants as well as bioprinting organs and tissues. This is due to advantages offered by 3D printing technology in developing accurate, reliable, and personalized solutions as per patient's requirement. The demand for biocompatible materials suitable for human implantation is increasing rapidly which is fueling the adoption of materials like PLA, PCL, and titanium. Moreover, significant research is ongoing worldwide to develop bioinks, scaffolds, and growth factors to build complex tissues and organs using bioprinting technology. The growing investments in developing advanced bioprinting solutions for clinical usage and 3D printed implants are contributing to the market growth of extrusion materials used for healthcare applications.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the 3D printing extrusion materials market is moderate. High initial capital investments requirement for building manufacturing facilities and developing extensive distribution networks pose a barrier for new players. However, the growing demand and advancements in technology provide opportunities for new entrants.

Bargaining power of buyers: The bargaining power of buyers in the 3D printing extrusion materials market is high. The market is fragmented with presence of numerous manufacturers providing buyers with options to choose from. This enables buyers to negotiate on better pricing and terms.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material prices fluctuate frequently which could impact manufacturers' profit margins. However, suppliers have limited bargaining power as they operate in a competitive environment.

Threat of new substitutes: The threat of substitutes is low. 3D printing extrusion materials have superior properties compared to traditional materials used for similar applications. Product innovations are also reducing the threat from substitutes.

Competitive rivalry: The competitive rivalry in the market is high owing to presence of numerous regional and global players. Manufacturers differentiate their products on the basis of material type, availability of customized offerings, price, quality, and technical support.

SWOT Analysis

Strengths: Wide applications of 3D printing across industries such as aerospace, automotive, medical, and consumer goods boosts market demand. Advancements in material formulations improve printing efficiency and application scope.

Weaknesses: High material costs and lack of technical expertise limits adoption. Regulatory compliance and lengthy certification processes also pose challenges.

Opportunities: Growing R&D investments in material development expand market potential. Increasing collaborations with OEMs aid business expansion.

Threats: Volatility in raw material prices impacts profitability. Growing environmental concerns regarding material disposal could lead to stringent regulations.

Key Takeaways

The global 3D printing extrusion materials market is expected to witness high growth over the forecast period on account of increasing demand from various end-use industries such as aerospace, healthcare, and automotive.

Regional analysis: North America dominates the global market and is expected to maintain its leading position throughout the forecast period. U.S. is the largest market for 3D printing extrusion materials owing to presence of major manufacturers and extensive R&D activities. Asia Pacific is projected to witness fastest growth driven by rapid industrialization, competitive manufacturing landscape, and growing adoption of additive manufacturing technologies in the region.

Key players: Key players operating in the 3D printing extrusion materials market are Stratasys, 3D Systems, Arkema, DSM and Evonik. Stratasys offers an array of filaments and pellets for FDM, PolyJet, and Stereolithography 3D printers. 3D Systems provides thermoplastic and photopolymer materials.