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The global 3D printing market size is expected to reach a market value of USD 26,808.6 million by 2022, rising at a CAGR of 29.8% during the forecast period (2016-2022).
3D printing, also referred to as additive manufacturing, is a combination of processes used to produce three-dimensional objects. In the case of 3D printing, numerous layers of different kind of printing materials are formed under machine control to create 3-dimensional objects. The 3-dimensional images can be of varied shapes. 3D printing offers integration of metals & alloys with other raw materials as per the requirement of the end-user industry, to create specified 3-dimensional objects. Numerous industrial sectors are impacted by 3D printing solutions. Over the past decade, additive manufacturing technologies have drastically changed the way of designing, development, and manufacturing of industrial goods.
Increasing spending on product development and R&D activities, rising regulatory support by national and local government bodies and growing manufacturing sector are the major drivers for the growth of the 3D printing market. In addition, technological advancement in different end-user industries such as healthcare would provide ample growth opportunity for the adoption of 3D printing for various medical diagnoses. Automakers and suppliers of different types of manufacturing products have realized the benefits of 3D printing solutions. This is eventually increasing the demand for 3D printing solution in these industries. In the automotive industry, 3D printing technologies have introduced new shapes into the industry, allowing the industry to produce lighter and more complex structures at affordable price ranges.
The Global 3D Printing market is segmented based on component, sub-component, technology, and verticals. Products, materials, and services are the major components considered in the deep analysis of the 3D printing industry. Currently, the service segment dominates the 3D Printing market; product segment, on the other hand, is expected to register the fastest growth, owing to increasing demand for desktop 3D printers. The global 3D printing material market is further divided into different material types including Polymer, Metal & Alloy, Metal & Alloy, and others. In 2014, the polymer segment dominated the global 3D printing material type market. Stereolithography, Selective Laser Sintering, Electron Beam Melting, Fused deposition modeling, Laminated object Manufacturing, and Others are the major technologies considered while analyzing the global 3D printing market.
Furthermore, 3D printing techniques find its major application in verticals such as education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction, and others. For better understanding of the market penetration of 3D Printing the market is analyzed based on geographies and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Taiwan and Rest of Asia-Pacific) and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Israel and rest of LAMEA). In 2014, North America dominated the market with maximum share in terms of revenue. Substantial growth in the automotive production in countries such as India and China paired with rising R&D investments in the healthcare industry would help the region to expand its revenue generation in years to come.
The report also highlights a few prominent players operating in the 3D Printing market. Key companies profiled in the report include 3D Systems Corporation, Arcam AB, Royal DSM N.V., ExOne GmbH, Autodesk, Inc., Stratasys Ltd., Hoganas AB, Ponoko Limited, Mcor Technologies Limited and Optomec, Inc.