The market has promising growth potential due to several factors, including reduced manufacturing costs and process downtime, government investments in 3D printing projects, and development of new 3D printing materials. industrial grade.
New York, August 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “3D Printing Market by Offer, Process, Application, Vertical, Technology and Geography – Global Forecast to 2026” – https: // www.reportlinker.com/p04998220/?utm_source=GNW
Additionally, the increased demand for healthcare supplies due to the COVID-19 outbreak and the potential of 3D printing to improve manufacturing processes and supply chain management have created several opportunities for manufacturers. 3D printers on the market. The ability of 3D printing technology to reduce the time required to design and produce functional parts enables rapid production of prototypes without reconfiguring or retooling the production line. For low to medium volume applications, 3D printing eliminates the need for expensive tool production, resulting in reduced costs, time and labor associated with it.
The main factor limiting the growth of the 3D printing market includes limited availability and high cost of materials, limitation in product size, and lack of standard process control. A greater range of raw materials are available for traditional manufacturing than that available for manufacturing processes based on 3D printing. 3D printing of products with mixed materials and technologies, such as circuit boards, is still under development. Although the technology is a major breakthrough in processes, the materials that can be used are still limited. In addition, the accuracy and reproducibility of products formed by 3D printing are hampered by the lack of appropriate standards regarding the mechanical properties of the materials used.
The market declined in 2020, mainly due to the impact of COVID-19. Supply chains were disrupted in 2020 due to lockdowns imposed by various governments and labor shortages in the automotive, aerospace, consumer electronics, industries due to travel restrictions , which would affect the 3D printing market.
E-commerce has flourished due to bottlenecks in regions and limitations in logistics. Limitations on imports and exports from China and other APAC countries have banned manufacturing facilities in North America and Europe.
This created a significant fluctuation in overhead and overall product quality for these manufacturers. Although the market was affected in 2020, it is expected to fully recover by 2021.
Prototyping: The largest segment of the 3D printing market, by application
Prototyping is the main application in the 3D printing market. Prototyping has been the main use of 3D printing for industries including aerospace, automotive, etc.
With the ability to produce multiple design iterations in a shorter period of time, 3D printing is an effective tool for product development. Technology has now evolved so that it can be used to create functional prototypes using high performance materials.
Functional prototyping and concept modeling allow design and engineering teams to visualize and test products. 3D printing also enables the rapid production of cost-effective prototypes based on customer requirements for structural geometry, precision and well-defined smoothness of products used in any industry.
Automotive: The fastest growing segment of the 3D printing market, by vertical
The automotive sector is the fastest growing sector for the 3D printing market. The automotive industry has also moved from using 3D printing for prototyping applications to manufacturing components and end products.
The demand for newer, more efficient vehicles, along with the need to optimize production and streamline supply chains and logistics, are driving market growth. New trends including autonomous vehicles, electric cars and mass customization are forcing automakers and suppliers to embrace 3D printing technologies throughout the automotive application value chain.
To stay competitive at the stage of Industry 4.0, car manufacturers are accelerating the adoption of 3D printing technologies.
North America holds the largest market share in the 3D printing market
The North American region is expected to dominate the 3D printing market and is expected to hold the largest market share during the forecast period. In addition, the region has countries like the United States, Canada and Mexico where several major players in the 3D printing market reside.
North America dominates the 3D printing market due to several factors, including the presence of additive manufacturing companies, service offices and engineering companies. to support industries, including aerospace, transportation, oil, gas and energy.
Likewise, the Lawrence Livermore National Laboratory (LLNL) in California added an Advanced Manufacturing Laboratory (AML) to accelerate research using additive manufacturing equipment. -Large-scale production of end-to-end medical devices.
Various actors are involved in R&D activities in different vertical sectors. An increase in investments is also observed in North America, which is an opportunity for the market
The study contains information from various industry experts ranging from component suppliers to Tier 1 companies. The distribution of primaries is as follows:
• By type of business: level 1 – 35%, level 2 – 40% and level 3 – 25%
• By designation: C-level executives – 30%, directors – 40% and others – 30%
• By region: North America: 40%, Europe: 25%, APAC: 30% and RDM: 5%
The report presents the major players of the global 3D printing market with their respective market share analysis. The major players featured in this report are Stratasys (US), 3D Systems (US), Materialize (Belgium), EOS (Germany), GE Additive (US), ExOne (US), voxeljet ( Germany), HP (United States), SLM Solutions (Germany), Renishaw (United Kingdom), Protolabs (United States), CleenGreen3D (Ireland), Optomec (United States), Groupe Gorgé (France), Ultimaker ( Netherlands), Beijing Tiertime (China), XYZprinting (Taiwan), Höganäs (Sweden), Covestro (Royal DSM) (Germany), Desktop Metal (United States), Nano Dimension (Israel), Formlabs (United States) , Carbon (United States), TRUMPF (Germany) and Markforged (United States).
The report segments 3D printing market and forecasts its size, by value, based on region (North America, Europe, APAC and ROW), by offering (printer, material, metals, software, service), process (binder jet, directed energy deposition, material extrusion, material projection, powder bed melting, sheet lamination, VAT photopolymerization), technology (stereolithography (SLA), melt deposition modeling (FDM), sintering selective laser (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)), application (prototyping, tooling and manufacturing of functional parts), vertical (automotive, aerospace and defense, health, architecture and construction, consumer products, education , industrial, energy, printed electronics, jewelry, food and cooking).
The report also provides a comprehensive examination of market drivers, restraints, opportunities, and challenges in the 3D printing market. The report also covers qualitative aspects in addition to quantitative aspects of these markets.
Main advantages of purchasing the report
The report will help the leaders / new entrants in this market with information about the closest approximations to revenue figures for the overall market and sub-segments. This report will help stakeholders understand the competitive landscape and gain more insight to better position their businesses. and plan appropriate marketing strategies.
The report also helps stakeholders to understand the pulse of the 3D printing market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04998220/?utm_source=GNW
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001