The 3D printing extrusion materials market is estimated to be valued at US$ 12.77 Bn 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 Overview:
3D printing extrusion materials are polymers that are used as filaments or pellets to produce parts and prototypes through extrusion-based 3D printing processes. Some common extrusion materials used are acrylonitrile butadiene styrene (ABS), polylactic acid (PLA), high impact polystyrene (HIPS), polyethylene terephthalate glycol-modified (PETG), and many others. These materials find applications in various industries including aerospace, automotive, consumer products and industrial goods for producing functional prototypes and end-use parts.

Market Dynamics:
The 3D printing extrusion materials market is driven by rising demand from automobiles industry for prototyping components. Several automakers are adopting 3D printing technology for manufacturing vehicle parts owing to its ability to produce complex designs that are lightweight and durable. ABS and PLA are widely used 3D printing materials for automotive applications.
Another driver is the growing applications of 3D printing in healthcare industry. Materials such as PLA, polyvinyl alcohol (PVA) and polyethylene glycol (PEG) are used to produce medical implants, surgical guides and prototypes of human organs through 3D printing. This is positively impacting the demand for specialty healthcare extrusion materials. However, high capital investment requirement for 3D printing equipment and technology is a major challenge for widespread adoption.

SWOT Analysis

Strength: The 3D Printing Extrusion Materials Market provides enhanced product customization which helps in producing lightweight and complex design parts. It reduces manufacturing expenses by eliminating tooling costs and lowering waste. It offers greater design flexibility to produce prototypes and finished goods with fewer design limitations.

Weakness: High initial investment required for printers and material development limit the adoption of 3D printing technology. Lack of standardized processes and performance issues related to mechanical properties restrict the use of 3D printing.

Opportunity: Growing demand from healthcare and aerospace industries for producing customized medical implants and aircraft components offer significant opportunities. Increasing research on developing sustainable biodegradable materials will expand the application scope.

Threats: Availability of substitute technologies like CNC milling and injection molding poses threat to 3D printing adoption. Stringent regulations over material formulations and recyclability cause compliance challenges.

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 end-use industries like automotive, aerospace, and healthcare. Advances in material science for developing high-performance plastics and composites tailored for specific 3D printing processes fuel the market growth.

Regional analysis North America dominates the global market, owing to presence of major manufacturers, availability of advanced 3D printing technologies and government funding for additive manufacturing based RD activities in the region. Asia Pacific exhibits the fastest growth in the coming years on account of rising industrial automation, low production cost and increasing foreign investments in the region.

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. The players focus on new product launches, expansions, partnerships and mergers acquisitions to gain competitive edge in the market.