According to a new market research report on "3D Printing Market by Technology (SLA, SLS, EBM, FDM, EBM, LOM, 3DP), Materials (Polymers, Metal), Application (Aerospace, Automotive, Consumer, Healthcare, Government & Defense) & Geography (Americas, Europe, APAC & ROW) (2013 – 2020)" published by MarketsandMarkets the 3D printing market is expected to grow at a CAGR of 23% from 2013 to 2020, and reach $8.41 billion in 2020.
Browse 81 market data tables with 46 figures spread through 320 pages and in-depth TOC on 3D Printing Market by Technology (SLA, SLS, EBM, FDM, EBM, LOM, 3DP), Materials (Polymers, Metal), Application (Aerospace, Automotive, Consumer, Healthcare, Government & Defense) & Geography (Americas, Europe, APAC & ROW) (2013 – 2020).
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3D Printing’ is a contemporary manner of manufacturing products, which is anticipated to revolutionize the manufacturing industry. The technology has innumerable application areas in diverse industries, namely automotive, aerospace, consumer products, industrial/ business machines, healthcare, education & research, government & defense, and so on.
Increased affordability of 3D printers and printing materials is making it, likely, to inculcate it in mainstream business operation. With the advancement in 3D printing technologies and materials, it has now moved from ‘rapid prototyping’ to ‘end-product manufacturing’. It offers a tremendous opportunity to customize product production for complex geometry of the object. The technology, today, discovers its application in many industries such as industrial design applications, architecture, jewelry design, and so on.
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3D printing adds a high value towards developing a concerned product, and has application in various parts of the production phase; such as, it used for prototyping, tooling, and production of small parts. Its main attraction lies in producing highly complicated parts with ease. The availability of designs in 3D printing is far more than that in moldings. Also, it helps to optimize the supply chain and condense the lead times— from the manufacturing to the market.
3D Printing market is expected to reach $8.41 billion by 2020, at an estimated CAGR of 23% from 2013 to 2020. Companies are investing hugely in their R&D activities to develop more compelling methods of manufacturing, with regards to 3D Printing.
This report describes the market dynamics of the 3D printing market, which comprises of drivers and restraints, along with their impact analysis matrix. Impact analysis matrix depicts the impact of a particular driver and restraint on the market, at present, and its future impact on the market. The major driving factors for 3D printing market: - are ease in the manufacturing of complex, and individualized parts in low volumes; and the significant increase in financial support from governments all across the globe to support 3D related research. In the report, different technologies such as stereolithography, laser sintering, electron beam melting, fused disposition modeling and laminated object modeling— are discussed. The 3D printing materials includes ‘Polymers’ and ‘Metals’. The 3D Printing’s application areas comprise aerospace, automotive, consumer, healthcare, government & defense, industrial machines, and education and research sectors. Geography market is categorized into Americas, Europe, APAC, and ROW.
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3D printing is an emerging technology with the potential to revolutionize the manufacturing industry. It allows consumers to download designs from the internet and transforms them into physical objects.
Enormous opportunities are present, currently, for the 3D printing industry. It has, now, been realised to be a key source to economic growth, and plays a pivotal role towards the strengthening of the design and online retail market. It offers substantial, eco-friendly benefits, by removing the transportation of goods all across the globe; and allowing new, sustainably sourced materials. It reduces the costs involved in conventional manufacturing process, immensely.
The 3D printing market is moving at a very rapid pace and is witnessing enormous developments in patent filings. All the key players are investing, immensely, on research and development activities to gain ‘the first mover advantage’. The 3D printing industry is witnessing a binge of new product developments, mergers & collaborations, expansions and other activities in the research and development field.
The roots of the contemporary 3D printing can be was traced back to the mid-1980’s, with the advent of Stereo Lithography (SLA) technology. Chuck Hull, the inventor and founder of 3D Systems,-invented the ‘original’ 3D printing technology; that is, the Stereo lithography (SLA); he led the development of the .stl file format, which still remains the bench mark in ultra-high-definition 3D printing and CAD connectivity, till date. After years of unsuccessful efforts, Hull’s perseverance and inventiveness paid-off when he printed a ‘teacup’. On 3, October 2013, Chuck Hull was being honoured with the “George R. Stibitz Computer and Communications Award” by the Montana state university.
In 3D printing ecosystem, 3D systems offer their services in various industries; and their market focus lies across all the geographies around the world. The company has been spending aggressively on their R&D activities; for instance, the company spent $23.2 million, $14.3 million, and $10.7 million, respectively, on their R&D, in the year 2012, 2011 and 2010. These R& D efforts majorly focus on developing new printers and print materials that augment the company’s product lines and existing capabilities.
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