3d printingAs per the findings of the research, the market for 3D Printing is expected to register the highest growth in Asia-Pacific, during the forecast period. 3D Printing is widely being adopted in the emerging nations of Asia-Pacific, such as India, China and Japan. Metal based 3D printing has been the largest revenue contributor to the global market; however, the market for polymer based 3D printing is expected to register the fastest growth during the forecast period. Metal based 3D printing helps in serial production, especially in industries, such as aerospace and defence, and automotive, where products mainly contain metal components. Moreover, the demand for other 3D printing materials, including ceramics, bio-compatible material and wax, is also expected to rise in the global 3D printing market. Several industries, including food and culinary, textile and building automation, are expected to generate demand for these materials based 3D printing. Among all industries, aerospace and defence is expected to the largest user of 3D printing.
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Additionally, these offer the flexibility to manufacture components with desired mechanical properties. Offering these benefits, 3D printers will continue to address the demand to curtail waste and cost. 3D printing offers cost efficiency along with improved printing quality. Due to the same, companies, irrespective of their size, are widely accepting the 3D printing technology. Increasing acceptance of 3D printing technology among consumers is expected to generate higher demand for 3D printers across the globe and is likely to spearhead the growth of the global 3D printing market.
Apart from efficiency and growth benefits, 3D printing offers companies a chance to transform their business by creating new business models, with unique product portfolios and helps operation models to support these new business models. In this way, 3D printing technology helps organizations to strengthen their position in the value chain. Benefits associated with 3D printing are expected to enhance its usage, beyond its function as a means of production, in near future. This is further expected to spur the growth of the global 3D printing market, during the forecast period.
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The global 3D printing market is fragmented because of the presence of large number of players offering 3D printing systems and materials for various applications. Due to the fragmented nature of the market, the competition among the global and regional players is high. Some of the major companies operating in the 3D printing market include 3D Systems Corporation, Stratasys Ltd., ExOne, voxeljet AG, Arcam AB, SLM Solutions GmbH, EOS GmbH, Envision TEC GmbH, Materialise NV, Concept Laser Gmbh, Autodesk, Inc., and Koninklijke DSM N.V.