Detailed Global 3D Printing Market Forecast and Trend Analysis by a Report on Reports and Intelligence

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 expects the 3D printing market would grow to reach a mark of $8.6 billion by the year 2020 with a CAGR of 20.6% during the forecast period.

3D printing, or popularly known as Additive manufacturing includes the procedure of creating 3 dimensional products. The process is accomplished by means of material printer, which replicates exact prototype of an object. It is used in different areas such as industrial design, footwear, engineering and construction (AEC), architecture, jewelry, dental and medical industries, automotive, education, civil engineering, aerospace, geographic information systems, and others.

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The major factors propelling the growth of global 3d printing technology are its faster processing with increased accuracy, judicious use of raw materials and the capability to build customized products. Further, rising popularity of technologies such as additive manufacturing and rapid prototyping process by the leading firms is also boosting the market growth rate. Also the promising government rules helps the market to grow in the developing nations. The aforementioned market growth factors are helping the small players in the emerging nation to face the leading players and offer competitive products in the global 3D printing market.

Stereo lithography produced maximum revenue with an overall market share of 33%, in the year 2013. On the basis of 3D printing materials, ceramics, metals and polymers are studied deeply in the report. In the year 2013, polymer generated maximum revenue of $193.3 million.

North America leads the overall market with a market share of around 43.9% in value followed closely by Europe.  Asia Pacific region would grow swiftly during the study period.

Global 3D Printing Market

3D printing, also known as additive printing technology, allows manufacturers to develop objects using a digital file and variety of printing materials. The materials used in 3D printing include various types of polymers, metals, ceramics, etc. 3D printing offers methodologies that makes manufacturing of complex designs an apparent reality. The global 3D printing market is in the progressive phase of its life cycle and was valued $2.3 billion in 2013 and is anticipated to reach $8.6 billion by 2020, growing at a CAGR of 20.6%.  The anticipated advancement is due to the widespread applications of 3D printing and the potential prospects of 3D printing in diverse fields.

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The factors driving 3D printing market are high degree of accuracy, efficient use of raw materials, ability to build customized products, simultaneous use of multiple materials for printing, efficient use of production time and financials, competency over traditional techniques, etc. On the contrary, higher production cost to individual users, expensive 3D printing software, lack of channel partner assistance, scarcity of skilled labors and inability to manufacture huge outputs are some of the restraints for the global 3D printing market. Also, application of 3D printing in various industries and improved manufacturing process are the opportunities present, which can be capitalized. The market size and year on year forecast for global 3D printing market is been provided for the period of 2013 to 2020 in terms of revenue (in $million). Thus, the futuristic knowledge of possible surge in the demand for 3D printing in certain applications would help companies take proactive business decisions. A quantitative data of estimated market size would also facilitate decision makers in planning profitable strategies.