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Global 3D Printing Market, Industry Insights by Printer, Material Type, Form, Process, Software, Application and Industry

07-02-2020 06:19 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: VynZ Research

Global 3D Printing Market Highlights

Global 3D Printing Market Highlights

3D printing is a manufacturing process that helps in building multiple layers for a three-dimensional object from a digital specimen. A few years ago, the cost of using 3D printing technology was very high and it was used by large corporations and organizations, however with the advent of desktop-based 3D printers the technology is becoming more accessible in small and medium enterprises and home users as well.

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Currently, 3D printers are increasingly used to manufacture customized prototypes during testing phases. The 3D printing technology helps the business organizations in creating prototype at lower costs, reduced time and do not require specific labor skill for developing a product thereby enhancing the growth of the 3D printing market across the globe.

On the basis of printer, 3D printing market is categorized into industrial printers and desktop 3D printers. Among all these segments, desktop 3D printers are anticipated to witness fastest growth during the forecast period helps in developing new and innovative products for the customers along with providing customized products to the users.

The 3D printing market is also segmented on the basis of material type into metals, wax, plastics, laywood, ceramics, paper and bio-compatible material. Among all these segments plastic contributed largest revenue to the market since plastic is the most common and crucial material used in 3D printing.

Based upon application, 3D printing market is segmented into healthcare, automotive, printed electronics, architecture & construction, consumer products, education, aerospace & defense, jewelry, energy, industrial, food & culinary and others.

Increasing demand for latest technology among various business enterprises to develop more affordable and accessible alternatives in small and medium enterprises is the key trend observed in the growth of 3D printing market globally. The technology is transforming the traditional functioning of the business and redefining the business process in several organizations. 3D printing allows the manufacturing of a 3D object to form a computer-driven digital process.

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Increasing investments undertaken by government authorities towards 3D printing projects, increasing trend of developing customized products for the customers and reduced manufacturing cost are the key factors driving the growth of the 3D printing market. The potential of 3D printing technology to enhance the manufacturing and supply chain management process of the business organization is the key factor driving the growth of the 3D printing market.

Globally industry players in 3D printing market are leveraging market growth through the development of innovative solutions.

Geographically, North America is the largest 3D printing market in since the region is constantly revamping their technology and increasingly using 3D printing technology in healthcare and aerospace and defense domain.

Moreover, 3D printing market in Asia-Pacific is expected to witness the fastest growth due to the availability of informed consumers and the increasing demand for customized products from the end-users. 3D printing technology is enabling business enterprises in this region for improving product evolution, customer relationships and business growth by delivering products in a timely and speedy manner.

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Key players in the 3D printing market are investing heavily towards improvising the quality of product and developing the latest technologies that is further strengthening their position in the market. Moreover, local vendors are developing new products to develop cost efficiencies in their business processes thereby extending the rivalry in the market to certain. Some of the major players in the 3D printing market include Materialise NV, Stratasys Ltd., 3D Systems Corporation, Envisiontec GmbH, The Exone Company, Sciaky Inc., Voxeljet AG, SLM Solutions Group AG., Proto Labs, Arcam Group and Mcor Technologies Ltd.

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About VynZ Research :

VynZ Research is a global market intelligence company providing research reports, industry intelligence and business advisory services to companies and institutions across the globe. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies.

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