3D printing is a form of additive manufacturing technology where a three dimensional object is created by laying down successive layers of material. The technology was first introduced in early 1980, however it came into hype in last few years. Manufacturers across a broad spectrum of industries including automotive, aerospace, healthcare, consumer and industrial products are all aggressively using 3D printing technologies now a days.
The report aims to provide an overview of global 3D printing market with detailed market segmentation by technology, material, end-user vertical and geography. The global 3D printing market is expected to witness high growth during the forecast period. Cost-effectiveness and bulk production advantage is driving 3D printing market globally.
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The objective of this report is as follows:
• To provide overview of the global 3D Printing market
• To analyze and forecast the global 3D Printing market on the basis of technology, material, end-user vertical
• To provide market size and forecast till 2025 for overall 3D Printing market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries
• To evaluate market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend
• To provide exhaustive PEST analysis for all five regions
• To profiles key 3D Printing players influencing the market along with their SWOT analysis and market strategies
Some of the leading players in 3D Printing market are 3D Systems Corporation, Arcam AB, Autodesk, Inc., Amazon, GE Company, Materialise NV, The ExOne Company, Home Depot, Stratasys Ltd., and EOS GmbH are among others.
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The high degree of accuracy of manufactured products from optimal use of raw materials is a major factor bolstering the global 3D printing market. Using this technique, multiple materials can be employed for printing same object allowing to customize the product. In addition, it provides ample of savings on tooling over the traditional manufacturing techniques. A significant reduction in manufacturing cost and time can be achieved by applying 3D printing technique in production along with efficient logistics management. Additionally, human errors generated during development of an object can be minimized, thereby, delivering high quality output. The throughput of products is expected to increase post-implementation of 3D printing technique in manufacturing processes.
High production cost for an individual user is one of the factor hindering the global 3D printing market. Additionally, the setup and software required for implying 3D printing is costly, thereby further restricting it’s to a limited number of users. Additionally, the production of large objects consumes more time with 3D printing as compared to traditional manufacturing methods showing the inability of a 3D printer to produce in bulk in quick time, thereby restricting the global 3D printing market. The lack of skilled labor capable of operating 3D printing devices coupled with the lack of assistance from channel partners, thereby making it difficult for unskilled labor to operate the device, hinders the global 3D printing market.
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The 3D printing market is at a nascent stage and is expected to expand at a robust rate as various sectors, such as healthcare & medical, automotive & aerospace, are endorsing this technology. Also, 3D printing technology offers numerous benefits over the traditional manufacturing techniques, and is thus expected to replace traditional techniques during the forecast period. Increasing development of 3D scan and 3D print technology for better print quality are further expected to catalyze the global 3D printing market.
The global 3D printing market is segmented on basis of technology into stereolithography (SL), jetting technology, laser sintering, electron beam melting (EBM), deposition modelling, laminated object manufacturing (LOM), and three dimensional printing (3DP). The market is further divided based on material used as polymers, metals & alloys, ceramics, and others (wax, lay wood, plastic film, metal foil and paper). Additionally, the global 3D printing market is segmented based on applications, namely: aerospace industry, automotive industry, consumer products, education & research, government & defense, healthcare industry, industrial/business machines and other applications (such as architecture, forensics, arts, and fashion among others).
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