Albany, New York, Nov. 28, 2018 (GLOBE NEWSWIRE) -- According to Transparency Market Research, the global 3D printing market is projected to reach US$32.5 bn by the end of 2025 progressing from US$7.3 bn earned in 2016. During the forecast period between 2017 and 2025, the market is projected to expand at staggering CAGR of 18%.
The global 3D printing market is highly fragmented due to the presence of various large and small players operating in the global market. In 2016, EOS GmbH, Solidscape, Inc., and Stratasys, Ltd. held maximum share in the market. Leading players in the market are focusing on launching new products and upgrading their process to keep up the market growth. They are also using different business development strategies and are investing in research and development activities to increase their geographical reach and to stay ahead among the competitors. Concept Laser GmbH, ExOne GmbH, SLM Solutions GmbH, Voxeljet Technology GmbH, Optomec, and Arcam AB are some of the prominent players operating in the global 3D printing market.
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In terms of technology, polyjet is leading the market by holding 41% share in the global market. However, the FDM segment is holds maximum number of share in terms of volume. Dominance of FDM is because of high preference for commercial and personal use of FDM printers. Application of FDM is also high in various industries such as consumer goods and automotive. Based on region, North America leads the market on the accounts of using 3D printing technology at large.
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Increasing Use in Various Application to Fuel Demand for Welding Products
Introduction of 3D printing has simplified customizing products and reduced the cost of manufacturing. Rising government investments, rapid expansion of 3D printing technology, and increasing understanding of the people of the advantages of this technology has boosted the demand in this market. Employment of 3D printers helps sin handling issues such as licensing, copyrights, and patenting. Moreover, it helps the manufacturers in designing, prototyping, and modeling structures and products. Reducing time and cost has largely grown the efficiency of the manufacturers based on which they can offer products as a reasonable rate. Spurred by these factors, the global 3D printing market will display a strong growth in the near future.
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Lack of Technical Knowledge to Restrict Market Growth
Lack of standard process control and expensive and limited availability of materials are the key factors affecting the growth of the 3D printing market. Dearth of technical knowledge and misconception related to the process of prototyping among medium and small players may restrict people from adopting this technology, thus hampering market’s growth. However, efforts made by manufacturers to expand their geographical reach by entering untapped market are likely to provide a fillip to the market. Improvements in supply chain management and rising applicability in different sectors such as automotive, education, jewelry, and printed electronics is expected to drive the demand in this market.
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The information presented in this review is based on a TMR report, titled “3D Printing Market (Use - Commercial and Personal; Technology - PolyJet, Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), and Stereolithography (SLA); By Application - Consumer Products and Electronics, Automotive, Medical, Industrial, Aerospace, Military & Defense, Architecture, and Education) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”
Global 3D Printing Market has been segmented as presented below:
Global 3D Printing Market, by Use
- Commercial
- Personal
Global 3D Printing Market, by Technology
- PolyJet
- Fused Deposition Modeling (FDM)
- Selective Laser Sintering (SLS)
- Stereolithography (SLA)
- Others
Global 3D Printing Market, by Application
- Consumer products and electronics
- Automotive
- Medical
- Industrial or business machines
- Aerospace
- Military & Defense
- Architecture
- Education
- Others
Global 3D Printing Market: Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Italy
- Spain
- France
- Germany
- Rest Of Europe
- Asia Pacific (APAC)
- China
- India
- ASEAN
- Rest Of Asia Pacific
- Japan
- Korea
- Taiwan
- Thailand
- Malaysia
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of South America
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
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