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The global 3D printing market is expected to attain a market value of USD 26,808.6 million by 2022, 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 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 or geometries. Based on components, the global 3D printing market is segmented into products, materials and services. In 2014, services segment dominated the global 3D printing market with a market value of USD 1,773.9 million.
3D printing has all the potential to significantly impact the way companies produce innovative products. Various companies are investing heavily on research & development activities, especially for product development. This has increased the rate of adoption of 3D printing technology in industrial sectors including automotive, healthcare and aerospace & defence among others. As per R&D Magazine, in 2014, ten countries held about 80% of the total USD 1.6 trillion investments on R&D activities in different industries including automotive, aerospace and others. The U.S., China and Japan accounted for more than half of the total R&D investment.
Based on technology, the market is segmented into stereo lithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing and others. In 2014, Stereo lithography technology dominated the market, and is expected to maintain its dominance throughout the analyzed period. Education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction and others are the major industrial verticals where 3D printing has emerged as a game changer. Based on application, the global 3D printing market is segmented into education/research, visual aids, presentation modeling, fit and assembly, prototype tooling, metal casting, functional parts production and other. In 2014, functional parts production segment dominated the global 3D printing application market. Visual aids segment on the other hand is expected to register fastest growth during the forecast period.
Further, for better analysis and understanding the market penetration of 3D Printing market, the market is divided into different geographies and countries including North America (U.S., Canada, Mexico and Others), Europe (Germany, U.K., France, Russia, Spain, Italy and Others), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Others) and LAMEA (UAE, Saudi Arabia, Brazil, Argentina, South Africa, Nigeria and Others). In 2014, North dominated the global 3D printing market. Increasing automotive production in countries such as China and India would help the Asia-Pacific region to grow at a faster rate during the analysed period.
Some of the prominent companies profiled in the global 3D printing market are 3D Systems Corporation, Arcam AB, Royal DSM N.V., Stratasys Ltd, Autodesk, Inc., The ExOne Company, Hoganas AB Plc., Organovo Holdings, Inc., Mcor Technologies Limited and Voxeljet AG.
Full report: https://www.kbvresearch.com/lamea-3d-printing-market