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Top 10 Industry Growth Driving Factors of 3D Printing Market in North America

03-30-2020 05:20 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Top 10 Industry Growth Driving Factors of 3D Printing Market

The North America 3D printing market is estimated to grow rapidly in the future. The U.S. occupies the largest share in this market, followed by Canada. Mexico and Canada are expected to register high growth rates over the forecast period. Adoption of 3D printing has increased over the years owing to customized designs, efficient resource management, reduced production time and cost, minimized human errors, and development of high-quality products.

North America 3D Printing Market Report, published by Allied Market Research, forecasts that the North American market is expected to garner $5.01 billion by 2022, registering a CAGR of 20.1% during the period 2016-2022.

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Growth Drivers

1. Efficient use of materials
2. Use of multiple materials for printing
3. Reduction in human error

4. Customization of products
5. More competitive advantage
6. Delivering various innovation opportunities
7. Reduces development cost and time
8. Efficient logistic management
9. Higher resolution

Restraints

1. Higher cost for individual user
2. Software required for 3D printing are expensive
3. Lack of channel partner assistance
4. Lack of skilled labour

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Opportunities

1. Applications in various industries and improved manufacturing process
2. Increasing applications in medical science
3. Additional choice of materials

There is a shift from basic applications of prototype production to advanced applications, including functional testing of prototypes and manufacturing of final products. Industries such as consumer products, industrial, healthcare, defense, aerospace, and education & research widely use 3D printing for manufacturing of complex design objects with the help of diverse 3D printing materials.

Defense and aerospace sectors utilize 3D printing for development of affordable, lightweight, and complex components. The healthcare and medical industry has also recognized the advantages of 3D printing for prosthetics, and dental and medical fixtures.

Browse this Report Preview: https://www.alliedmarketresearch.com/north-america-3d-printing-market

3D printing uses diverse materials such as polymers, ceramics, and metal & alloys among others. Polymers occupied a major share in the North American 3D printing materials segment, accounting for over 40% of the total materials market revenue in 2019. Metals & alloys is expected to be the fastest growing material segment during the forecast period.

The major players in this market include 3D Systems, Stratasys Ltd., The ExOne Company, Autodesk Inc., Optomec, Inc., Organovo Holdings, Inc., and Arevo Labs. These players consistently launch new products and enhance their existing portfolios to expand their customer base and strengthen their market position. Partnerships and collaborations provide growth opportunities to these players for geographic expansion.

Also Read: https://www.gurufocus.com/news/994651/top-10-industry-booming-factors-driving-the-growth-of-3d-printing-market-in-north-america-by-2026

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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