3D Printing Market - Demand for Technology Is Poised To Grow At Exponential Pace In The Near Future

3D printing technology, a technology used for custom-designing objects as per specific requirements, has brought substantial advantages to various industries by eradicating the need for expensive tools, workforce, and moldings. With flexibility as its virtue, 3D printing technology is touted to be the most revolutionary innovation in the last few decades. In a new report, titled “Global 3D Printing Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019,” Transparency Market Research aims to analyze the various factors supporting the growth of the global 3D printing market. Apart from this, the report also delves into identifying the factors that are anticipated to hinder the market’s growth to an extent.

3D printing can be referred to as additive manufacturing and allows creating 3D objects by layer-by-layer deposition of printing materials. The critical tenets of 3D printing include translation of a digital design into a visible pattern, flexibility of output, and material cartridges. Industries such as architecture, footwear, and automotive are the prime end users of 3D printing. The technology is used for speedy manufacturing, rapid prototyping, mass production, and mass customization. An increasing number of manufacturers are using this technology owing to the ease of using it compared to other traditional methods. The demand for 3D printing is therefore expected to increase at a robust pace in both personal and commercial printing applications over the forthcoming years.

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As per the findings of the report, the global 3D printing market stood at US$2.2 bn in 2012 and is anticipated to exhibit a CAGR of 16.8% between 2013 and 2019. Regionally, the report segments the global 3D printing market into Asia Pacific, Europe, North America, and Rest of the World and provides a comprehensive blueprint of the performance reported by the 3D printing market across these regions.

“Since 3D printing technology is affordable and easy to use, the demand for the technology is poised to grow at an exponential pace in the near future,” said a lead TMR analyst. “However, the inability of the technology to produce in bulk quickly is hampering the growth of the market to an extent,” he added.

For the purpose of the study, the global 3D printing market has been broadly classified on the basis of technology and application. Based on technology, the market is segmented into SLS, polyjet, stereolithography, and fuse deposition modeling. By application, the market has been bifurcated into personal 3D and commercial 3D. Of these, the commercial 3D printing segment leads the global market at present and is anticipated to retain its dominance over the report’s forecast period as well. Based on technology, polyjet 3D printing has emerged as the most preferred choice among industries.

Regionally, North America dominates the global 3D printing market, trailed closely by Europe. North America boasts a well-established medical and healthcare infrastructure as well as thriving automotive and aerospace industries, which has been a crucial factor in triggering the demand for 3D printing in the region. In the forthcoming years, Asia Pacific is anticipated to report the fastest growth as a regional market for 3D printing, as stated in the report.

To study the prevailing competitiveness in the market, the report also profiles companies such as Concept Laser Gmbh, D Systems Inc., Eos Gmbh Electro Optical Systems, Arcam AB, SLM Solutions Gmbh, Optomec, Stratasys Ltd., Exone Gmbh, Solidscape Inc., and Voxeljet Technology Gmbh.

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This release was published on openPR.