According to the latest report by IMARC Group titled, “3D Printing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, The global 3D printing market reached a value of US$ 9.2 Billion in 2018. Looking forward, IMARC expects the market to reach US$ 24.8 Billion by 2024, exhibiting a CAGR of 18% during 2019-2024.
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3D printing involves layer-by-layer addition of materials, such as polymers, metals and ceramics, to form three-dimensional objects using a computer created design. As compared to conventional printing technologies, 3D printing generates less material wastage and aids in reducing the overall cost of production. As a result, it is utilized in the production of intricate designs, such as maquettes and replicating ancient artifacts in archaeology.
3D printing is used in the manufacturing of vehicles, which aids in reducing weight, improving performance and increasing their fuel economy. Moreover, it is employed in the healthcare industry for complex bioprinting and producing personalized prosthetics. Apart from this, it is utilized in reconstructing bones and body parts in forensic pathology and personalized consumer products, such as toys, shoes, decorative items and jewelry, which is escalating its demand around the world. Furthermore, 3D printing is used in the aerospace and automobile industries, which is anticipated to propel the market growth across the globe.
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Market Breakup by Technology:
Stereolithography
Fused Deposition Modeling
Selective Laser Sintering
Electron Beam Melting
Digital Light Processing
Others
Market Breakup by Process:
Binder Jetting
Directed Energy Deposition
Material Extrusion
Material Jetting
Powder Bed Fusion
Sheet Lamination
Vat Photopolymerization
Market Breakup by Application:
Prototyping
Tooling
Functional Part Manufacturing
Market Breakup by Region:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Stratasys, 3D Systems, Materialise, EOS GmbH, Ge Additive, Exone, Voxeljet, HP, SLM Solutions, Envisiontec, Protolabs, Mcor Technologies, Optomec, Groupe Gorgé, Ultimaker, Renishaw, Beijing Tiertime Technology, Xyzprinting, etc
Key highlights of the report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
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