Global 3D Printing Market Trends- 2019
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This technology is used for rapid prototyping, speedy manufacturing, mass customization and mass production. Manufacturers are increasing the use of this technology due to the ease of using this technology compared to the traditional methods.
Thus, the demand for 3D printing is expected to experience robust growth in both commercial and personal printing applications in the coming years.
The global 3D printing market was worth USD 2,200 million in 2012 and is expected to grow at a CAGR of 16.8% from 2013 to 2019.
The growth of this technology is driven by expanding application of 3D printing across various application sectors such as consumer products and electronics, automotive and medical. Additionally, consumers’ access to 3D printing has increased due to rise in the number of 3D printing service centers. Furthermore, the availability of low-cost printers has increased the demand for 3D printing in personal use.
A major factor restraining the growth of this market is the inability of a 3D printer to produce in quick time. The production of large objects consumes more time with 3D printing as compared to traditional manufacturing methods. Moreover, infringement of intellectual property rights has increased the number of laws and regulations adding another restraint to the market.
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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