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3D Printing Market Driven by Increasing Applications in Automotive and Healthcare Industries


3D printing technology is gaining swift popularity among a myriad of industries owing to its abundant profitable traits features such as minimum resource wastage, less human interaction, and precise and accurate product development. According to a recent research report published by IndsutryARC, the global 3D printing market was valued at $14.5 billion as of 2018. Following the current drifts of exaggerated 3D printing trend, the global 3D printing market is estimated to grow at an incredible compound annual growth rate (CAGR) of 23% during the forecast period of 2019 to 2025.

The report is titled ?3D Printing Market: By Offering (Printer, Scanner, Material, Software, Service); By Application (Production, Prototyping, Research & Education); By End User (Consumers, Automotive, Construction) & By Geography – Forecast (2019-2025).? The market analysis report published from IndustryARC incorporates all the relevant business intelligence insights such as drivers, trends, competitive landscape, and other entities that impact the 3D printers market.

View Table Of Contents Of 3D Printing Market

Global 3D Printing Market: Leading Segments
North America grabs the highest portion in the global 3D printing market. The region was accounted to withhold 40% of the global 3D printing market demand share in 2018. The active funding in research and development, government initiatives, and dynamic industrial base in the region are the major aspects that support this hefty market share. Furthermore, the establishment of research of numerous research, education, and training centres by key players of the are resonating the ponderous demands of 3D printing in the region.

By application, the automotive sector is the fastest growing segment in the global 3D printing market. As per the analysis from IndustryARC this application of 3D printers is growing at a CAGR 15% during the forecast period of 2019 to 2025. Recent advancements in the automotive industry have opened up new opportunities for 3D printing. The automotive industry demands the need for complex and rare automobile parts for luxurious and high-end vehicles, which are being fulfilled with 3D printing techniques. Deliberately, 3D printing can reduce the production time, minimize maintenance costs, and enhance performance. With such astounding features, the automotive application in the 3D printing market is projected to thrive.

Global 3D Printing Market Analysis

Construction: The 3D printing technology is adequate for the construction company owing to its features such as reduced excessive labour cost and cutting down on waste by producing only the required amount of material. Also, technology has optimized the construction industry in terms of time, cost, error reduction, mass customization, environmental impact, and flexibility in design. 3D concrete printing has opportunities in most of the infrastructural avenues including commercial, architectural, and residential. The China-based firm WinSun developed a 3D printer which constructed 10 houses as a pilot project. The company used a mixture of cement, fibre, and sand. The construction involved almost zero manpower and the process reduced the construction waste to a minimum.

Automotive: 3D printing technology has been prevalent in the automotive industry for a while now, but still most of its applications are yet to be harnessed developing an exploited front to be capitalized by vendors. Automotive prototypes and spare parts are manufactured using thermoplastics, polyamide, quartz, and filament with the help of computer-aided design. The industry uses this technique extensively to build aesthetic car interiors to low volume customized one-piece parts of the vehicle. Additionally, employing 3D printed auto-parts reduces the weight of the vehicle thereby enhancing the car per performance and improving fuel economy with lesser carbon footprint. According to the International Organization of Motor Vehicle Manufacturers (OICA) , more than 91 million cars and commercial vehicles were manufactured in 2017. The consistently growing automotive industry is subjected to deploy tremendous profits to the 3D printing industry in the near future.

Global 3D Printing Market Trends
Bio-printers technology is in its prototyping stage and is expected to take over the prospects of 3D printing technology in the food and beverages industry. The investments in research and developments are gaining traction from confectionary and chocolate manufacturers regarding bio-printers technology.

Oxford Performance Materials (OPM) has achieved excellence in the 3D printers market by developing a 3D printer that can replace a damaged skull with a 3D printed implant. This is an instance of sheer perfection that has brought revolution in the healthcare industry.

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Global 3D Printing Market: Competitive Landscape
Some of the key players mentioned in the report that are currently leading the 3D printing market are HP, Protolabs, 3D Systems, Materialise, Stratasys, SLM Solutions, Nano Dimensions, ExOne, Organovo, Voxeljet, EOS, GE, XYZ Printing, Wanhau, Monoprice, Flashforge, Prusa Research.

Posted by on 5. June 2019. Filed under Electronics & Semiconductors, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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