Surging Vehicle Sales To Boost Global Demand for 3D Printing Filaments
Automakers across the world are heavily investing in research and development (R&D) to increase strength, reduce weight, and amplify the aesthetic value of vehicles. To achieve these objectives, automobile manufacturers are increasingly using 3D printing filaments to produce components such as air ducts, interior accessories, functional mounting brackets, and full-scale panels. With the surging production and adoption of automobiles, the consumption of such filaments will accelerate in the coming years. As per the Organisation Internationale des Constructeurs d'Automobiles (OICA) around 78 million vehicles were purchased in 2020, globally. Further, the rising adoption of 3D printing technology in the aerospace industry will also help the 3D printing filaments market advance at a CAGR of 26.8% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will rise from $693.1 million in 2019 to $7,082.0 million by 2030. The aircraft and aviation...