Global 3D printing market is set to witness seven-fold expansion, with revenues projected to see a double-digit CAGR during 2019-2029. As projected by a new report of Future Market Insights (FMI), leading market players are investing in adoption of vat polymerization and selective laser sintering processes in a bid to reduce processing time and achieve greater accuracy.
“Manufacturers operating in the automotive, aerospace, manufacturing, and healthcare industries are actively procuring 3D printing technologies. Demand will further increase with rise in the adoption of smart products, leading to the introduction of complex designed solutions,” states the FMI report.
3D Printing Market: Key Findings
- Fused filament fabrication technology continues to be a trend in production of prototypes and end-use parts.
- Entry level 3D printers are recording high deployment owing to better technical awareness and affordable pricing.
- Material extrusion remains preferred technology; vat polymerization and selective laser sintering will emerge highly lucrative.
- Developed regions will remain at the forefront of 3D printing market; Eastern Europe and Latin America display strong growth potential.
3D Printing Market: Key Driving Factors
- Accelerated adoption of 3D printing in architecture and aerospace will propel market growth.
- The integration of Artificial Intelligence (AI) with 3D printing systems is enabling flexibility and precision, thereby fueling demand.
- Reduced developmental costs and quick turnaround time remain major market growth drivers.
- The trend of customization will be a strong factor driving the growth of 3D printing market.
3D Printing Market – Key Restraints
- High costs associated with 3D printing and inadequacy of skilled workmanship remain key impediments to market growth.
- Compatibility restrictions associated with select materials will limit the growth of 3D printing industry.
Competition Landscape of 3D printing Market
Some of the key players in the global 3D printing landscape that are covered in this study include, but are not limited to, 3D Systems, VoxeljetAG, Arcam AB, Ponoko Ltd., Autodesk Inc., Organovo Holdings Inc., and The ExOne Company. Leading manufacturers are focused on using partnerships and collaborations with regional players and raw material suppliers. Manufacturers are also pushing to bring in tech advancements, while cutting prices to enhance accessibility of 3D printing services.
Source Link: https://www.globenewswire.com/news-release/2020/03/03/1994363/0/en/3D-Printing-Market-Players-Eye-Opportunity-in-Architecture-and-Aerospace-Industries-Demand-for-Entry-Level-Printers-on-Upswing-Future-Market-Insights.html
More about the Report
This Future Market Insights study of 300 pages offers actionable insights on the 3D printing market. The market analysis is based on level (entry-level, hobbyist, enthusiast, professional, and industrial), technology (material extrusion, vat polymerization, selective laser sintering, material jetting, binder jetting, and others), vertical (automotive, aerospace, industrial/business, consumer electronics, medical, research & academia, government/military, architecture, and others) across seven regions (Latin America, North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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