3D printing- The future of Manufacturuing

9 Jul
2014

6585 Views

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 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

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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