3D printing- The future of Manufacturuing

9 Jul
2014

 
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3D printing is beefed up to bring revolution in manufacturing sector! Confused? Let’s know what exactly 3D printing does?

 

3D printing, or popularly known as Additive manufacturing involves the process of producing 3 dimensional products. The process is completed using material printer, which reproduces exact prototype of the object. It is being applied in the fields such as footwear, industrial design, jewelry, engineering and construction (AEC), architecture, automotive, dental and medical industries, aerospace, education, civil engineering, geographic information systems, and many others.
 

Since the inception of 3D printing technology, it has been widely embraced. Its future seems to be promising. Allied Market Research published a detailed report covering the global 3D printing market growth and opportunities. The report expects the market reach $8.6 billion by 2020.

 

Market drivers:-

 

  • Huge demand to build complex design objects
  • Higher accuracy
  • Higher Efficiency
  • Proficiency over traditional processes

 

Market Restraints:

 

  • Costlier personal printing
  • Expensive software
  • Lack of channel partner assistance

 

Technologies used in the market are:

 

  • Stereolithography
  • Selective laser sintering
  • Electron beam melting
  • Fused deposition modeling
  • Laminated object manufacturing

 

 

With a global share of 33%, Stereolithography generated maximum revenue in the year 2013. However, the report expects the electron beam melting to grow fastest during the analysis period.

 

In terms of 3D printing materials, polymers, ceramics and metals are analyzed by the report. In the year 2013, polymer generated maximum revenue of $193.3 million.

 

Application of 3D printing is increasing in numerous areas, especially healthcare and aerospace, which have witnessed significant application of 3D printing.      

 

With a revenue share of 43.9%, North America leads the market, followed by Europe. Asia-Pacific is expected to grow rapidly with a CAGR of 51.9% during the estimated period, due to increasing application of 3D technology.

 

Companies profiled in the report are:-

 

  • 3D System
  • Stratasys
  • Arcam AB
  • Autodesk
  • ExOne
  • Hoganas AB
  • Optomec
  • Organovo Holdings
  • Ponoko
  • Voxeljet Ag

 
Digvijay Deshmukh

Digvijay Deshmukh

Research Analyst at Allied Market Research

Digvijay Deshmukh is associated with Market Research industry for more than 5 years and possess strong expertise in market assessment, forecasting and consulting in ICT and Semiconductor industry. With his skilled proficiency in market research, Digvijay is actively involved in providing critical insights on business research to clients with his subject matter expertise. Various other sub-markets scrutinized include media and entertainment, HVAC, process control and automation, display technologies, telecom and IT, service industry, and power electronics among others. He is a part of multiple consulting assignments and is actively involved in commissioning, planning, execution, and delivery of projects to client’s expectations. His forte lies in business consulting, building analytical models, and trend analysis and forecasting.

 
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