The global 3D
printing market size is estimated to be USD 9.9 billion in 2018 and is
expected to reach USD 34.8 billion by 2024. Factors such as ease in development
of customized products, reduction in manufacturing cost and process downtime,
government investments in 3D printing projects, and development of new
industrial-grade 3D printing materials are driving the growth of the 3D
printing industry. Currently, the trend in the 3D printing applications is
shifting from prototyping to functional part manufacturing in various
verticals, such as automotive, medical, aerospace, and consumer goods.
Direct Metal
Laser Sintering To Account For The Largest 3D Printing Market Share From 2018
To 2024
The 3D printers
available in the market are based on different technologies such as
stereolithography (SLA), fused deposition modeling (FDM), selective laser
sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing
(MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD),
laminated object manufacturing (LOM), and digital light processing (DLP). DMLS,
SLS, and FDM are the most widely used 3D printing technologies.
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The
Prototyping Application Is Expected To Hold The Largest 3D Printing Market
Share Through 2025
The prototyping
application held the largest 3D printing market share in 2017, and the trend is
expected to be the same during the forecast period. The market for the
prototyping application is driven by the steady demand for these applications
in several industries.
3D printing
or AM helps produce prototypes and models from 3D computer-aided design (CAD).
This helps several companies to reduce wastage during prototype transitions in
traditional manufacturing and also helps them to bring down their operational
costs. 3D printing also enables the quick production of cost-efficient
prototypes based on the customers’ requirements regarding the geometry of the
structure, accuracy, and well-defined smoothness of the products used in any
industry.
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