DALLAS, TX, Aug 27, 2014 – According to a new market research report on “3D Printing Market [by Technology (SLA, SLS, EBM, FDM, EBM, LOM, 3DP), Materials (Polymers, Metal), Application (Aerospace, Automotive, Consumer, Healthcare, Government & Defense) & Geography (Americas, Europe, APAC & ROW)] (2013-2020)”, the 3D Printing Market is expected to grow at a CAGR of 23% from 2013 to 2020, and reach $8.41 billion in 2020.
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The elements behind the rapid upsurge in the 3D printing market are the innovative and advanced technologies, customized products, governments funding, wide unexploited application market, rapid development of the products at a low cost, and less time-to-market. In addition, the upcoming (in 2014) expiration of patents with respect to the Selective Laser Sintering (SLS) is also believed to provide a further impetus to the growth of the 3D printer market.
3D printing is an emerging technology with the potential to revolutionize the manufacturing industry. It allows consumers to download designs from the internet and transforms them into physical objects.
Enormous opportunities are present, currently, for the 3D printing industry. It has, now, been realized to be a key source to economic growth, and plays a pivotal role towards the strengthening of the design and online retail market. It offers substantial, eco-friendly benefits, by removing the transportation of goods all across the globe; and allowing new, sustainably sourced materials. It reduces the costs involved in conventional manufacturing process, immensely.
The 3D printing market is moving at a very rapid pace and is witnessing enormous developments in patent filings. All the key players are investing, immensely, on research and development activities to gain ‘the first mover advantage’. The 3D printing industry is witnessing a binge of new product developments, mergers & collaborations, expansions and other activities in the research and development field.
As of 2013, the America holds the largest revenue share followed by Europe in 3D printer machines, materials, and related services. However, Europe is also expected to surpass America in terms of the 3D printing market revenue by 2020. The foremost factors accountable for the expansion of 3D printing market include new and improved 3D printing technologies, wide range of materials (polymers, metals/alloys, sand, ceramics, living tissue), government funding, broad application scope, and increased awareness regarding the benefits of 3D printing over traditional techniques (injection molding and CNC machining). However, APAC is the fastest growing and most promising market for 3D printing due to high industrial growth, technological awareness, supportive government policies, and financial investment by the governments in R&D. The major companies operating in this market are 3D Systems (US), Stratasys (US), Arcam AB (Sweden), Exone (US), and others.
The 3D printing market is broadly categorized into: technology, materials, application, and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately described in the report.
The market is expected to reach $8.41 billion by 2020, at an estimated CAGR of 23% from 2013 to 2020. The major driving factors for the 3D Printing Market are: ease in the manufacturing of low volume production of complex geometry components, and rapid manufacturing of customized products with regards to various applications such as aerospace, automotive, consumer and healthcare. In the report, different technologies such as stereolithography, laser sintering, electron beam melting, fused disposition modeling, and laminated object modeling are discussed. The materials market includes polymers and metals. The 3D Printing Market finds its application in the aerospace, automotive, consumer, healthcare, government & defense, industrial machines, and education and research sectors. The geography market is categorized into America, Europe, APAC, and ROW.
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