3D printing market in the emerging economies

Allied Market Research published a new report titled, “3D Printing Market in Emerging Economies (China, India, UAE, Brazil, South Africa) - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020." The report states that 3D printing market in emerging economies would register $4.5 billion by 2020 growing at a CAGR of 37.4% during the forecast period.

 

3d printing technology features faster processing with higher accuracy, efficient use of materials and the ability to construct customized products, which are the prime factors driving the growth of the global market. Adoption of technologies like rapid prototyping process and additive manufacturing by the leading companies in the market is adding to the growth of the market. Also the encouraging government regulations favors the growth of the market in the emerging economies. The aforementioned growth factors are propelling the players in the emerging economies to challenge the global players and compete in the global 3D printing market.

 

The adoption of contour crafting technology by Shanghai Winsun Decoration Design Engineering, a Chinese construction company, has proven to be a milestone in the field of construction. The special features and varied applications of 3D printing technology, which meets the ever evolving demands of the consumers makes it a popular choice among manufactures from different industries. For example; the adoption of 3D printing in the field of healthcare and medicines in developed economies has urged the manufacturers from developing economies to adopt the growing technology.

 

Commercialization of the technology for the end users would reduce the manufacturing cost and labor cost. It would further create awareness among users, resulting in higher adoption rate of the technology. Companies are adopting merger and acquisition strategies to strengthen their market presence and product portfolio. One such example would be the acquisition of Robotec, a Brazilian company, by 3D Systems.

 

The government initiatives is strengthening the adoption and growth rate of the 3D printing technology. For example; china invested $6.5 million in April 2013 for conducting research on key 3D technologies. Various technological events have also been organized to increase the awareness among different sectors and stakeholders.

 

India and China among all other emerging economies, are the most promising region for the development and adoption of the 3D printing technology. This can be clearly seen in the initiative taken by General Electric for manufacturing plastic and metal parts, using additive manufacturing technology in India. Companies are exploring the potential of profitable market in these economies.

 

Prominent players profiled in the report are 3D Systems, StratasysLtd, Arcam AB, ExOne Company, Autodesk Inc., Voxeljet AG, Hoganas AB, Optomec Inc., Ponoko and Organovo Holdings Inc.

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