Market Trends of 3D Printing Filament Industry
Increased Demand from the Medical and Dental Segment May Facilitate Market Growth
- The medical and dental industry is the leading industry that uses 3D printing filaments. It contributes to around 30-35% of the total applications of 3D printing filaments.
- 3D printing technology using different filaments allowed the creation of tissues and organoids, surgical tools, patient-specific surgical models, and custom-made prosthetics as applications in the medical and dental industry. These 3D-printed objects significantly contribute to the advancement and development of the industry.
- Medical devices produced by 3D printing include orthopedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics.
- In March 2023, Invibio broadened its selection of implantable-grade PEEK-OPTIMA polymers by adding a filament specifically designed for fused filament additive manufacturing of medical devices.
- In August 2022, Lithoz, a 3D ceramic printing company, reported the first half of the year as the most successful in its history due to the increased order of its products. The company offers a wide range of ceramic 3D printers for various medical, dental, and industrial applications.
- Owing to all the above-mentioned factors, this segment is expected to grow rapidly in the market studied over the forecast period.
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Europe to Dominate the Market
- Germany is the largest economy in Europe in terms of GDP. Germany, the United Kingdom, and France are among the fastest-emerging economies globally.
- As of October 2023, an average of approximately 11% of Europe's gross domestic product (GDP) was spent on healthcare, and expenditure on medical technology per capita was around EUR 312 (USD 337).
- According to MedTech Europe, over 33,000 medical technology companies are present in Europe. Most of them are located in Germany, followed by Italy, the United Kingdom, France, and Switzerland. Small and medium-sized companies (SMEs) make up around 95% of the medical technology industry.
- The German aerospace industry includes more than 2,300 firms located across the country, with Northern Germany recording the highest concentration of firms. The country hosts many production bases for aircraft interior components and materials, largely in Bavaria, Bremen, Baden-Württemberg, and Mecklenburg-Vorpommern.
- According to the Department for International Trade, the electronics industry in the United Kingdom contributes GBP 16 billion (~USD 19.53 billion) each year to the local economy. The country currently holds 40% of the share in the available electronics design industry in Europe. Current expertise within the industry is focused on integrated circuits (ICs), RFIDs, optoelectronics, and electronic components.
- France has been witnessing an increase in aircraft manufacturing and assembly operations in recent times as it is a major manufacturing base for manufacturers such as Airbus, Safran, Embraer, and Daher-Socata.
- Moreover, according to Air & Cosmos-International, France is expected to spend EUR 413 billion (USD 447.13 billion) on defense between 2024 and 2030 under its latest military programming law (LPM). This can substantially boost the country's consumption of 3D printing filament in the future.
- All the factors mentioned above are expected to boost the demand for 3D printing filament in the region.
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