The Global Market for 3D Printing is Projected to Reach US$16.8 Billion by 2022

New Innovations, Enhanced Printing Performance and Declining Prices Drive the Global 3D Printing Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the 3D Printing market. The global market for 3D Printing is projected to reach US$16.8 billion by 2022, driven by mass customization, technological innovations, declining printer prices, new materials, and ever expanding applications.

3D Printing, also referred to as Additive Manufacturing (AM), Layered Manufacturing (LM), Rapid Prototyping (RP), and Additive Fabrication (AF), is described as collection of technologies, which build physical 3D objects, tooling components, final production parts, and prototypes by using a layer by layer process, depositing a material using a nozzle, print head, or any another printer technology. Additive manufacturing is a revolutionary industrial technology, which holds the potential to cut down on the production time as well as the costs involved for various industries. 3D printing serves as a complementary, value-added solution to the currently available methodologies, rather than trying to replace existing technologies. The technology holds the potential to change the way things are produced today, using a more cost-effective and faster approach, and is set to revolutionize and modernize the manufacturing landscape.

Promising potential and market opportunities are attracting new players into the market, catalyzing technology innovation, diversity and product choices. Consumer products, automotive, medical, and aerospace are among the major end-use markets for 3D printing equipment and services. In the field of healthcare 3D printers are being used to manufacture custom-fit hearing aid devices; dental and orthopedic implants such as crowns, caps, and bridges; prosthetic limbs; and personalized hip replacements, as per individual specifications. The technology is also deployed for developing precise models that enable surgeons to plan complex surgical procedures.

Future prospects are bullish with technological advances expected to spur opportunities for growth. Increasing demand for rapid and highly efficient methods to create complex designs with geometric precision is expected to drive speedy growth in the market. Advent of new and effective technologies and approaches, expanding application areas, and funding support from government agencies are expected to foster demand. Technological advancements will continue to result in the development of 3D printers that are less bulky, easy to fabricate, capable of serving almost unlimited number of purposes, quicker print times, and printing choices in different colors, finishes and combination of materials. Increasing use of 3D models, ability to create customized products and declining cost of 3D printing systems and materials are favoring adoption of 3D printing technology as a replacement for conventional prototyping. A major noteworthy trend is the rise of 3D Printing Services, driven by the demand for online 3D printing-as-a-service, owing to the rise in the popularity of cloud computing technologies.

As stated by the new market research report on 3D Printing, the United States represents the largest market worldwide supported by the growing competitiveness of the domestic manufacturing sector, undivided focus on achieving manufacturing renaissance and the ensuing robust investments in leading edge technologies. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 24.5% over the analysis period, led by factors such as emergence of low cost Asian countries as global hubs for manufacturing; rapid expansion of manufacturing scale to achieve economies of scale and reduced costs; increased competitive pressure to invest in R&D and innovation; and a strong appetite for advanced and emerging manufacturing technologies.

Major players in the market include 3D Systems Corporation, Arcam AB, envisionTEC GmbH, EOS GmbH, The ExOne Company, Stratasys Ltd., MakerBot® Industries, LLC, and Solidscape, Inc., among others.

The research report titled “3D Printing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Latin America, and Rest of World. Global and regional 3D printing markets are analyzed by 3D Printing Equipment, 3D Printing Services, and Others. The global 3D printing market is also analyzed by end-use markets including Automotive, Aerospace, Consumer Products, Medical, and Others.

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