3D Printing Market Growth Challenges, Opportunities And Forthcoming Developments 2021

Precision Business Insights published a research report on “3D Printing Market: By Offering (Printer, Material, Software and Service), By Material (Stereolithography (SLA), Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), PolyJet/MultiJet Printing (MJP), Inkjet Printing, Electron Beam Melting (EBM), Laser Metal Deposition (LMD), Direct Light Projection (DLP), Laminated Object Manufacturing (LOM) and Other Technologies), By Process (Powder Bed Fusion, Material Extrusion, Vat Photopolymerization, Material Jetting, Binder Jetting, Directed Energy Deposition and Sheet Lamination), By Application (Prototyping, Functional Part Manufacturing And Tooling), By End User (Aerospace & Defense, Engineering, Healthcare, Consumer Products, Automotive, Jewellery, Education, Energy, Architecture and Construction, Printed Electronics and Food & Culinary), and Geography - Global/Region/Country Forecast to 2027".

3D printing is an additive manufacturing technology that creates a three-dimensional object from a computer-aided design model by layering materials and molding them into precise shapes with precise geometries, resulting in precisely finished three-dimensional objects. Polymers, ceramics, bright variants of metals, silicon, and a variety of other materials are employed in the manufacturing method.

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The market is predicted to increase due to strong R&D in three-dimensional printing (3DP) and rising demand for prototype applications from several industrial verticals, including healthcare, automobile, and aerospace and military. Additive Manufacturing (AM) is the name given to the industrial application of 3DP, which entails the layer-by-layer addition of substance to construct an object based on a three-dimensional file using software and a three-dimensional printer. To carry out the process, a suitable 3D printing technology is chosen among the available options. The last step entails deploying this approach across various industry verticals as needed. Installation services, consultancy solutions, and customer support are all part of the deployment, as are factors relating to copyrights, licensing, and patenting. Manufacturers gain from 3D printing in terms of prototyping, structural and final product design, modelling, and time to market. As a result, manufacturing costs have decreased significantly, allowing manufacturers to offer superior products at more affordable pricing. As a result of these advantages, 3D printer demand is predicted to increase in the next years. Small and medium-scale producers' misconceptions about prototype methods, on the other hand, are impeding the implementation of additive manufacturing. Rather than attempting to grasp the advantages and benefits of prototyping, companies involved in design, especially small and medium businesses, are hesitating before recognizing investments in prototyping as responsible investments. Prototyping is merely a costly phase before manufacturing, according to the prevalent consensus among these businesses. Such attitudes toward prototyping, along with a lack of technical understanding and an impending lack of conventional process controls, are projected to stymie market expansion.

The 3D Printing market is fragmented on the basis of printer which is further divided into Industrial and Desktop, By Component, By Technology, By Application, By Software, By Material and By Vertical.

Due to the general widespread use of additive manufacturing in the region, North America led the market. Countries in North America, such as the United States and Canada, have been early users of 3D printing technologies in various production processes. Based on geographic footprint, Europe, on the other hand, is the greatest region. It is home to a number of additive manufacturing industry players with extensive technical knowledge of the processes. As a result, the European regional market is the second highest.

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There are some major players working in 3d printing market, which include 3D Systems, Arcam AB, Autodesk, Inc., Stratasys Ltd, The ExOne Company, Hoganas AB, Optomec, Inc., Organovo Holdings, Inc., Ponoko Limited, Voxeljet AG, EOS GmbH, Sisma S.P.A., Hewlett Packard Inc

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