The global 3D Printing Market size valued to USD 12.96 billion in 2019; is expected a hike of USD 107.52 billion by 2030, witnessing a CAGR of 21.2% from 2020-2030.
3D printing is an additive manufacturing technique that builds a three-dimensional object from Computer Aided Design model, by adding layers of the preferred material; shaping them into accurate shapes with precise geometries, in-order to obtain perfectly finished three-dimensional products. Materials used in the manufacturing process include various types of polymers, ceramics, vivid varieties of metals, silicon, and many more.
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The use of 3D printing in industrial applications is usually referred to as additive manufacturing (AM). Additive manufacturing involves a layer-by-layer addition of material to form an object, referring to a three-dimensional file, with the help of software and a 3-dimensional printer. A relevant 3D printing technology is selected from the available set of technologies to implement the process. The last step involves the deployment of this process across different industry verticals based on the necessity.
The deployment includes providing installation services, offering consultation solutions, and customer support, as well as handling aspects related to copyrights, licensing and patenting. 3D printing is benefiting manufacturers in terms of prototyping, designing of the structure and end products, modeling, and time to market. As a result, the production expenses have reduced considerably, and the manufacturers are in a position to offer better products at reasonable prices. As a result of these benefits, the demand for 3D printers is expected to be triggered more in the coming years.
However, the prevailing misconceptions with respect to the prototyping processes held by the small and medium-scale manufacturers are hindering the adoption of additive manufacturing. Companies involved in designing, particularly small-scale and medium-scale enterprises, are deliberating before considering investments in prototyping as accountable investments rather than trying to understand the advantages and benefits of prototyping. The general notion prevailing among these enterprises is that prototyping is merely an expensive phase prior to manufacturing. Such perceptions regarding prototyping, coupled with the lack of technical knowledge and a looming lack of standard process controls, are expected to hinder the market growth.
Some of the major key players in the 3D printing market are: Arcam AB, 3D Systems, Stratasys Ltd, Autodesk, Inc., Hoganas AB, The ExOne Company, Organovo Holdings, Inc., Optomec, Inc., Voxeljet AG and Ponoko Limited among others.
Key Market Trends:
· Selective laser sintering (SLS) has been identified as the most preferred technology. It is expected to record the highest CAGR over the forecast period, owing to its various benefits over other technologies.
· SLS utilizes 12 powder nylon for raw material as a substitute to the photosensitive resin used in stereolithography. Companies and research organizations worldwide have been identified to take advantage of this material and technology to tackle concerns, such as the brittle nature of the resin when exposed to sunlight. In addition to that, SLS has also been proven to be cost and material-friendly, as it does not require any dedicated support structure post-printing. In addition to that, SLS provides enhanced durability and can perform and either functional parts or prototypes.
· In addition to that, SLS is also increasingly used in sports vehicles and electric cars. According to IEA, the global stock of electric passenger cars passed 5 million in 2018, increasing 63% from 2017. Leading automotive companies have increasingly utilized SLS 3D printing technology into EVs, which is expected to increase demand globally, driving growth.
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The “Global 3d Printing Market 2018-2026 research report” presented by Esticast Research and Consulting offers a clear picture of the current market scenario that includes past records till projected future, size about value and volume, and micro and macro factors in the global market.
The perspectives mentioned in the report direct the clients to analyze the market and designed several strategies for the industry growth of the 3d Printing market.
The 3d Printing market report covers in-depth analysis with major factors such as drivers, restraints, opportunities, and challenges that influences the growth of the market.About 3d Printing Market3D printing, also known as additive manufacturing, is a process of creating 3D solid objects with the help of digital file.
The ease of 3D printing technology in developing complex prototypes, components and small-series components has mainly fostered the adoption among several industries.Apart from this the factors such as benefits of 3D printing such as reduced wastage and minimal time required to create massive objects and growing government investment in 3D printing projects have boosted the market growth.
The technology requires hardware, software and materials to work all together.To Know More About Future Potential of 3d Printing Industry, Access Sample Report @ https://www.esticastresearch.com/report/3d-printing-market/#request-for-sampleMarket DefinitionThe global 3d Printing market is carefully studied and documented in the report with a strong focus on the key players in relation to market segments, dynamics, geography, and among others.
With the successive chapters, the research report is specially compiled to reveal the key factors or aspects of the global 3d Printing market.
