3D Printing Market Increases Through Fast Technical Development
These continuous technological developments have helped 3D printing to move towards mainstream industrial manufacturing. Moreover, the benefits provided by this techniques with regards to the traditional manufacturing methods (injection molding, CNC machining, vacuum casting) have made it a more favorable, quicker, and less expensive option for manufacturers, worldwide. 3D printing has a huge growth potential, especially, in markets that are characterized by low volume, complex architecture and highly individualized applications.
The main driving factors responsible for the explosive growth of the 3D printing market include new and improved technologies, variety of materials ranging from polymers to living tissue, supportive regulations, government funding, and huge untapped market. Among all the application sectors, automotive industry, consumer products, aerospace, and healthcare have contributed the largest market share. Moreover, aerospace and healthcare are estimated to grow exponentially in the coming future.
In geographical analysis of the 3D printing market with regards to the 3D printers, materials and related services-the Americas have been accounting for the largest market share followed by Europe. However, Europe and APAC are expected to be the fastest growing market in the coming future. Supportive government policies, increased financial investments by governments, and huge R&D activities are the major reasons behind this tremendous growth. Some of the major players in the 3D printing market include 3D Systems (U.S.), Stratasys (U.S.), ExOne (U.S.), Arcam (Sweden),Optomec (U.S.), EnvisionTEC (Germany), EOS (Germany), Layerwise (Belgium), microTEC (Germany), and Materialise (Belgium), among others.