3D Printing Market in Emerging Economies: Exclusive Report on the Latest Trends and Opportunities in the Future

Allied Market Research, forecasts that the global market is expected to garner $4.5 billion by 2020, registering a CAGR of 37.4% during the period 2014-2020. The additive manufacturing and rapid prototyping process adopted by the leading manufacturing companies would propel the growth of 3D printing technologies. Amongst the emerging markets, India and China are the most opportunistic regions for the development of 3D printing; therefore, market leaders are looking to capitalize on the prevailing opportunities in these countries.

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Higher accuracy, faster processing, efficient use of materials and the ability to build customized products optimally are the prime elements of growth for the 3D printing market. Favourable initiatives by the governments in the emerging economies are contributing to the growth of the start-ups in the region giving them power to compete with the top players in the region. According to AMR analysis of the emerging sectors, the adaptation can be phrased in simple form as "Print what you think with the help of 3D printing technology effectively". Shanghai Winsun Decoration Design Engineering, a Company based in China, has adopted Contour Crafting to build houses which is a milestone to a lot of companies. Unique factors of 3D printing over traditional printing processes such as building complex designs easily, mixing of materials to meet continuously changing demands of customers, and effective time management, among others have been the prominent factors driving the adoption of 3-D printing.

The easy portability and simple installation with the facility of mixing different types of materials according to the needs of the operating environment has made 3D printing a popular technology. The widespread adoption of 3D printers in healthcare and medical sectors in emerging economies is bringing the technology into the limelight among domestic players. The technology is gaining prominence amongst leading domestic players, as the products manufactured can be further used in varied applications.

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AMR analysis suggests that the commercialization of 3D printing technology would not only lower manufacturing material loss and minimise labour cost but also raise awareness and eventually lead to widespread adoption of the technology. Mergers and acquisitions among top global players and local players of emerging regions would further accelerate the growth and adoption of the technology. The acquisition of a Brazilian domestic company named Robotech by 3D Systems; a global leader is one such notable example that confers the impending market trend.

The initiatives taken by governments across emerging economies to enhance 3D printing technology is one of the major driving factors. In April 2013, China has invested $6.5 million to research key 3D printing technologies. Technological events have been arranged across sectors to spread awareness among stakeholders.

The adoption of the technology would lead to low labour costs and efficient use of printing material, which would give a competitive edge to manufacturing companies. General Electric, on the other hand, explored the potential in the Indian market by incorporating additive manufacturing technology in manufacturing plastic parts and eventually also used the technology in manufacturing metal parts. Key companies profiled in the report are Stratasys Ltd, 3D Systems, Arcam AB, Autodesk Inc., ExOne Company, Voxeljet AG, Optomec Inc., Hoganas AB, Organovo Holdings Inc., and Ponoko.

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