3D Printing Market industry Is Expand at a CAGR of 21% to worth $17.5 Bn forecast 2021-2031 - 3D Systems Corporation,Arkema S.A.,HP Inc

Global 3D printing market is estimated to be worth $17.5 Bn in 2021 and is projected to grow at a CAGR of 21% between 2021 to 2031.

The market is predicted to increase due to strong R&D in three-dimensional printing (3D Printing) and rising demand for prototype applications from several industrial verticals, including healthcare, automotive, and aerospace and military.

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Because it involves the layer-by-layer addition of material to construct an object referring to a three-dimensional file with the use of software and a 3-dimensional printer, the industrial application of 3D Printing is referred to as additive manufacturing.

Some of the factors driving the market's growth are the ease with which customized goods may be developed, the reduction in production costs and process downtime, government expenditures in 3D printing initiatives, and the discovery of new industrial-grade 3D printing materials.

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Furthermore, technical breakthroughs such as artificial intelligence (AI) and machine learning (ML) are accelerating the adoption of 3D printing machines since these technologies enable automated printing for more efficient production.

It's also used in the fashion sector to manufacture jewelry and clothing that's made of nylon. Furthermore, 3D printing is used in the healthcare industry to create customized hearing aid shells, braces, and tooth implants. Biological materials such as bone, skin, and cartilage are now being used in the fabrication of prosthetic components, and businesses are investing in research and development.

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Key Trends and Drivers:

The popularity of print-on-demand parts for the creation of customized functional parts has accelerated due to the availability of materials and developments in 3D printing technologies.
Hardware advancements have resulted in faster and more reliable 3D printers for production applications.

One of the most commonly used 3D printers is the polymer 3D printer.
The widespread usage of 3D technology in the manufacturing process has increased the demand for software that may assist enterprises in increasing production volumes and improving their additive manufacturing processes.

Segmentation:

By Product

Plastics
Ceramics
Metals
By End User

Electronics & Consumer Products
Automotive
Medical
Industrial
Education
Aerospace
By Type

ABS Filament
PLA Filament
PVA Filament
PET Filament
Key Players:
3D Systems Corporation
Arkema S.A.
HP Inc
Proto Labs Inc.
SABIC
Stratasys Ltd.
LPW Technology Ltd.
ExOne
Nano Dimension Ltd.
Ultimaker BV

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This release was published on openPR.