According to a research report "3D Printing Market by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology, and Geography - Global Forecast to 2026", published by MarketsandMarkets, the global 3D printing market size is expected to grow from USD 12.6 billion in 2021 to USD 34.8 billion by 2026, at a CAGR of 22.5%. Increased demand for healthcare supplies due to the COVID-19 outbreak and the potential to improve manufacturing processes and enhance supply chain management have created opportunities for the providers of 3D printing solutions in the market. However, factors including limited availability and high cost of materials, limitation of product size, lack of standard process control, and the threat of copyright infringement might hamper the growth of the overall market in the coming years.
The coronavirus
pandemic has severely disrupted the supply chains across the globe. Shutdowns
of major manufacturing hubs, coupled with the increasing demand for medical
supplies, have created the need to produce essential supplies using 3D
printing. Several hobbyists, startups, and small enterprises have contributed
to the manufacture of nasopharyngeal swabs, ventilator valves, face shields,
and other personal protective equipment. In North America, the NIH 3D Print
Exchange, FDA, the Veterans Healthcare Administration, and America Makes have
collaborated to develop surgical face mask which includes 3D printed elastic
straps and filter material that are fabricated using SLS or MJF technology.
Moreover, the University of Wisconsin-Madison Department of Surgery has
developed a negative pressure isolation head box, which uses 3D printing to
produce glove grommets. Similarly, the Texas A&M University has developed
isolation chambers that work as a physical barrier for contaminated patients;
and comprise CNC cut vinyl and 3D printed parts.
Printers
segment is expected to hold the largest market share during the forecast period
The printers segment
captures the largest share of the 3D printing market. It mainly includes
industrial and desktop printers. 3D printing has gained exceptional traction
during the past decade owing to the multiple advantages of 3D printers over
traditional manufacturing processes. The production process offers a range of
advantages, such as design flexibility, rapid prototyping, print-on-demand,
minimal wastage, fast designing and production, ease of access, and time and
cost efficiency, amongst others. The accessibility of 3D printers across the
globe with the increasing availability of local service providers has reduced
the time and logistics, and transport costs compared to traditional
manufacturing processes produced abroad in China. Since it is a single-step
manufacturing process, 3D printing saves time and costs associated with using
different machines for manufacturing. The rising adoption of 3D printing in
verticals, such as aerospace & defense, industrial, automotive, consumer
products, healthcare, provides opportunities for the 3D printer market.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1276
Industrial
vertical is estimated to be the dominating market during the forecast period
The 3D printing
market for the industrial vertical accounts for the largest market share of 3D
printing. Rising trends of smart manufacturing, robotics, industrial services,
and cloud applications provide opportunities to the 3D printing market for the
industrial vertical. From jigs and fixtures to end-of-arm tooling, the
industrial vertical is shifting its adoption of 3D printers for applications
from prototyping to end products. Companies using 3D printers in various
industries can create custom, low-volume tooling and fixtures at a lower cost
than traditional prices. This gives more time to designers and engineers to
spend on revenue-generating parts. Small manufacturers get the same benefit
with a 3D printer as Tier 1 global manufacturers, which helps them improve and
expedite processing while mitigating downtime.
The Asia
Pacific is expected to grow at the highest rate
The growth is driven
by the rising adoption of 3D printing technologies in various verticals,
including automotive, consumer products, healthcare, and industrial. China is
the key country contributing to the growth of 3D printing in the APAC region.
The Action Plan, which forms part of the ‘Made in China 2025’ strategic roadmap
for the country’s manufacturing sector, outlines long-term ambitions and
development goals to make China one of the leading 3D printing nations. One of
the important aspects of the plan is a goal to introduce over 100 AM pilot
projects across ten key industries, including the medical, cultural,
educational, and Internet sectors.
Major players in the
3D printing market include Stratasys (US), 3D Systems (US), Materialise
(Belgium), EOS (Germany), GE Additive (US), ExOne (US), voxeljet (Germany), HP
(US), SLM Solutions (Germany), Renishaw (UK), Protolabs (US), CleenGreen3D
(Ireland), Optomec (US), Groupe Gorgé (France), Ultimaker (The Netherlands),
Beijing Tiertime (China), XYZprinting (Taiwan), Höganäs (Sweden), Covestro
(Royal DSM) (Germany), Desktop Metal (US), Nano Dimension (Israel), Formlabs
(US), Carbon (US), TRUMPF (Germany), and Markforged (US) among others.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, “Knowledgestore” connects over
200,000 markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™
INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
No comments:
Post a Comment