Reports and Intelligence adds a report titled “Global 3D Printing Market (Technology, Material, Services, Application and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 – 2020.” The report forecasts the global 3D printing market to reach $8.6 billion by 2020, growing at a CAGR of 20.6%. In the year 2013, the market value stood at $2.3 billion.
Rising popularity of 3D printing and its increasing application in numerous fields are driving the growth for 3D printing market. Further, factors such as higher accuracy, efficient raw material utilization, capability to design customized products, multiple use of materials for printing, efficiency of production time and financials, competitive edge over conventional techniques, etc. are fuelling the market growth.
Get detailed report at: http://www.reportsandintelligence.com/3d-printing-market
However, higher production cost, lack of channel partner assistance, costly 3D printing software, lack of skilled labours and incapability to give large outputs would impede the market growth. Rising application of 3D printing and innovative manufacturing processes would open up numerous opportunities for the global 3D printing market in the future.
Polymer among ceramics and metals as chief materials for 3D printing generated the maximum revenue of about $193.3 million in 2013. Alloy and metal would grow fastest in the material segments with a CAGR of 40.5% during 2014-2020.
The largest application segment of 3D printing market is consumer products with a share of 22%. It is expected to register a CAGR of 17.2% during the estimated time.
With a revenue share of 43.9% in 2013, North America leads the overall market, followed by Europe. With a CAGR of 51.9%, Asia Pacific would grow at a fastest rate due to large scale adoption of the technology.
Key profiled companies in the report are:
· 3D Systems
· Arcam AB
· Hoganas AB
· Organovo Holdings
· Voxeljet Ag.