How does 3D Printing Market works? Key Companies 3D Systems, Voxeljet Technology GmbH, Arcam AB, Stratasys, Concept Laser GmbH, Solidscape etc

3D printing or also referred to as additive manufacturing is the construction of a three-dimensional object from a CAD model or digital 3D model. An object of any shape and size can be created by using a digital model. The primary principle in 3D printing includes the flexibility of output, translation of code, and material cartridges into a visible pattern. At present, this technology is used for rapid prototyping, speedy manufacturing, mass customization, and mass production.

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Major companies operating in the global 3D printing market are 3D Systems, Inc., Voxeljet Technology GmbH, Arcam AB, Stratasys, Ltd., Concept Laser GmbH, Solidscape, Inc., EOS GmbH Electro Optical Systems, SLM Solutions GmbH, ExOne GmbH, and Optomec.

Global 3D Printing Market - Impact of Coronavirus (Covid-19) Pandemic

Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. There is a significant impact on the 3D printing market, as healthcare industries have suffered a significant shortage of products. During this time of social and economic despair, most of the healthcare industries are under stress due to a shortage of beds and medical equipment. There is a disruption in the supply chain of this medical equipment throughout Europe, US, and India and due to this, there is a shortage of medical equipment and kits.

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Market Opportunities:
Replacement of conventional manufacturing by 3D printing can present lucrative opportunities
3D printing has gained massive popularity in the recent past. The low cost and faster manufacturing in 3D printing have seen higher adoption of this technology in commercial applications. This is owing to the low manufacturing requirements of this technology.

Development of 3D scanning can pose excellent opportunities for market players
The advent of the 3D scanner has present numerous opportunities. A 3D scanner can scan objects of any dimension and print them into 3D models. Over the year, the 3D printing industry has witnessed significant development. For instance, Occipital developed and launched “Structure,” a 3D scanner for iPad devices that can scan objects in 3D space. The device uses infrared LEDs and a camera to model and measure its surroundings in 3D.

Market Dynamics- Restraints
The major threat for market players is the violation of copyrighted products. This infringement of rights has disrupted the harmony of intellectual property laws in many countries. Although governments in many countries are conducting rigorous investigations, the issues regarding counterfeit products and infringement remain prevalent. As a result of this, certain laws and regulations have been exercised to prevent such felonies.

3D printing is expected to replace conventional manufacturing in numerous countries since it is a simple and fast way of producing objects. It is economical, and the technology is currently being used to manufacture parts for assembling. For instance, computer parts such as chips and automotive components can be manufactured by 3D printing.

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