The global 3D printing market shall leapfrog 7x across the 2019-2029 forecast period.
As technological advancements reach an inflexion point, 3D printing, or additive manufacturing, is slated to take-off to impressive heights. The technology has long transcended the confines of rapid tooling, toy manufacturing and prototyping, with a potential to revolutionize mainstream manufacturing processes.
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As industries look towards curtailing production costs, they are creating more room for 3D-printing technologies, particularly across the automotive, aerospace, medical and consumer electronics verticals respectively. Techniques such as laser sintering and binder jetting have enabled end-users to design aesthetically advanced materials more efficiently and at a significantly reduced cost.
“Manufacturers are leveraging Industry 4.0, coupling 3D-printing with artificial intelligence to complement flexibility and precision during the production process, leading to enhanced growth opportunities,” says the FMI analyst.
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Key Takeaways from FMI’s 3D Printing Market Study
- Global 3D printing market shall expand at a double-digit CAGR until 2029
- Automotive sector shall exhaustively utilize 3D printers, generating an incremental opportunity of US$ 2 Bn
- Industrial-grade 3D printing shall remain in vogue throughout the 2019-2029 forecast period
- Aerospace will remain the primary revenue generator in the 3D printing market
- Vat polymerization and material extrusion to remain key technological application areas
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3D Printing Market- Key Trends
- Development of prosthetic human anatomy will uptick 3D printers usage across the healthcare sector in the coming years
- Economization of costs by including additive processes is popularizing 3D printing technology across the construction industry
- Space exploration is touted as a potential greenfield for 3D printing market proliferation in the future
- Manufacturers are capitalizing on entry-level 3D printers due to their extensive uptake across verticals
3D Printing Market- Region-wise Analysis
- Asia-Pacific excluding Japan shall emerge as a multibillion dollar market, attributed to a well-established manufacturing industrial base
- North America & Western Europe shall capture over three-fifths of the global 3D-printing market share
- Latin America and Eastern Europe are the fastest growing markets, collectively accounting for 40% of the total expansion
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