3D Printing Technology is Gaining Massive Momentum Across Numerous Industries

3D printing, also known as additive manufacturing, is an advanced technology that can create a three dimensional object by constructing sequential layers of raw materials. The fact that additive manufacturing is cheaper as well as faster than traditional manufacturing techniques such as sculpting or molding, it is becoming popular in every field. Also, as compared to traditional manufacturing techniques, 3D printing enables users to produce complex shapes by using lesser materials.

Previously, 3D printing was only associated with rapid prototyping. However, in the past couple of decades, it has evolved a lot. 3D printing solution such as 3d printer filament, resin 3d printer, and 3d printing service has gained immense popularity across an array of end use sectors such as automotive, aviation, aerospace & defense, construction, retail, healthcare, and so on.

According to a report published by Allied Market Research, the global 3D printing market size is anticipated to reach $94.0 billion with a considerable CAGR from 2021 to 2030. North America is currently dominating the market with the highest market share, as several private organizations in this region are focusing on putting resources into the technology. At the same time, various government institutions in the developed economies are intensely investing in 3D printing projects, which in turn, is boosting the growth of the market to a great extent.

In addition, the rise in utilization of 3D printing in healthcare sector is offering lucrative opportunities for the growth of the market. For instance, 3D printing technology has majorly helped the global shortages of medical and pharmaceutical equipment during the outbreak of the COVID-19 pandemic.

Moreover, due to the improved manufacturing processes, its integral parts can be manufactured on demand by any decentralized 3D printing facility through online. The digital accessibility, versatility, customization, and fast prototyping capabilities of 3D printing is empowering the medical technology in more than one way.

With this drift on board, many companies are adopting strategies like collaborations, partnerships, new product launch, and business expansions in order to stay competitive in the market. Recently, 3D Systems in collaboration with Enhatch Inc., the developer of the Intelligent Surgery Ecosystem aims to cater to the increasing need for 3D printed medical equipment in the healthcare sector across the world. Such factor is augmenting the growth of the global 3D printing market on a huge level.

Furthermore, with the development of more streamlined cars and lightweight components, the demand for new 3D printing technology types are increasing even more. Automotive enthusiasts are also using 3D printed parts to restore old cars. Here, it is worth stating that, with the surge in the adoption of smart infrastructure solutions across various sectors, the global 3D printing market is anticipated to gather huge growth in the near future.

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