According to the research report titled ‘Global 3D Printing Filament Market Size study, by Type (Plastics, Metals, Ceramics), by End-Use Industry (Aerospace & Defense, Medical & Dental, Automotive, Electronics, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global 3D printing filament market accounted for USD 0.57 billion in the year 2019 and is expected to grow with a CAGR of 28% between 2020 and 2027.
 

Rising cognizance and adoption of 3D printers in electronics and automotive sectors as well as in various small and large-scale enterprises are key factors driving the growth of global 3D printing filament market.
 

It is to be noted that 3D filaments are used during 3D printing and are available in different types. There has been an upsurge in demand for high-performance and functional prints. In addition, increasing popularity of 3D printers is adding traction to the overall market size.
 

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Favorable government initiatives which encourage the use of 3D printing technology is also stimulating the industry outlook. However, rising concerns associated with operational hazards associated with the product may negatively impact worldwide 3D printing filament industry outlook.
 

Nevertheless, focus among industry participants towards R&D activities, innovative product launches, mergers & acquisitions and other business-centric strategies are facilitating the business scenario. In June 2020 for instance, Koninklijke DSM N.V. reportedly signed an agreement in which it gained rights to Clariant AG’s 3D printing business operations in order to develop advanced solutions.
 

As per type, the market is segmented into ceramics, metals and plastics. The end-user scope of global 3D printing filament industry consists of electronics, automotive, medical & dental, aerospace & defense, and others.
 

From the regional point of view, the report claims that North America currently dominates global 3D printing filament industry in terms of revenue share and is likely to showcase similar growth patterns in the subsequent years. Rising adoption of 3D printers in automotive, medical, and aerospace sectors is favoring the regional market outlook.
 

Meanwhile, Asia-Pacific industry is expected to grow substantially during the estimated timeframe, primarily driven by increasing awareness pertaining to the benefits of 3D printing technology.
 

The prominent companies operating in global 3D printing filament market are EOS GmbH Electro Optical Systems, BASF 3D Printing Solutions GmbH, DuPont de Nemours Inc., Saudi Basic Industries Corp., Arkema S.A., Evonik Industries AG, Materialise N.V., Koninklijke DSM N.V., 3D Systems Corporation, and Stratasys Ltd. among others.