Albany, NY -- (SBWIRE) -- 02/07/2018 -- The demand in the global 3D printing market is projected to expand at a remarkable CAGR of 18.0% during the forecast period of 2017 to 2025, gaining traction from a number of factors such as strikingly higher resolution, reduction in manufacturing cost owing to recent technological advancements, ease in the development of customized products, growing possibilities of using multiple materials for printing, and government investments in 3D printing projects.
While the lack of proper process control and limitations regarding product size are obstructing the global 3D printing market, the stockholders will continue to gain new opportunities from untapped end-use industries such as printed electronics, automotive, education, and jewelry. The global 3D printing market was valued at US$7.3 bn in 2016, and is estimated to reach a valuation of US$32.3 bn by the end of the forecast period, i.e. 2025.
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The global 3D printing market was valued at US$7.3 bn in 2016, and is estimated to reach a valuation of US$32.3 bn by the end of the forecast period, i.e. 2025. Commercial Sector Serves Maximum Demand Witnessed in Market On the basis of use, the global 3D printing market has been segmented into commercial and personal. Commercial uses of 3D printing, which continues to serve the most significant chunk of demand, include rapid prototyping, rapid manufacturing, mass production, and mass customization. On the other hand, personal applications include printing 3D objects in-house for personal use. In 2016, the commercial segment accounted for more than half of the demand-share, contributing to US$ 5,932.3 mn of revenue.
This segment is expected to hold most prominent market share in 2025 too, growing at 17.8% CAGR during the forecast period. This is mainly due to improvement in the quality of 3D printing materials that has prompted manufacturers to incorporate 3D printing in their current manufacturing practices. Technology-wise, the global 3D printing market is bifurcated into polyjet, selective laser sintering (SLS), fused deposition modeling (FDM), and stereolithography (SLA).
In 2016, polyJet technology accounted for nearly 41% of the total market share, and is anticipated to exhibit an above-average growth rate. FDM segment is the second most prominent shareholding segment, and dominates the 3D printing market in terms of volume shipment. This is a reflection of increasing demand for FDM printers for both personal and commercial use. FDM is also popular in a variety of industrial applications, from automotive to consumer goods. Application-wise, the market for 3D printing has been categorized into consumer products and electronics, automotive, medical, industrial, aerospace, military and defense, architecture, and education.
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Presently, consumer product category serves the maximum demand, followed by the automotive sector, wherein 3D printing is used to print a number of parts for automobiles. Some of the examples can be interior parts such as engines, gearbox handle, gears, shafts, brakes and spare parts as well as external parts such as window frames, doors, body parts, steering handle, head and taillights. North America Emerges as Highly Lucrative Region In 2016, North America served the maximum demand among all regions wherein the 3D printing market has potential.
This was primarily a reflection of the presence of several major 3D printing market players in the country-wide made of the U.S., which is world's fourth most populous country. In the near future, North America 3D printing market is anticipated to expand further, with increasing awareness among consumers regarding the benefits of using 3D printing in commercial and household applications. Europe follows North America in terms of the geographical market share. Germany, Italy, France, and Sweden are identified as most lucrative country-wide markets for 3D printing in the region of Europe. Asia Pacific, on the other hand, has been projected to exhibit the best CAGR among all regions under the study during the forecast period.
The Asia Pacific 3D Printing market is expected to reach US$ 8,207.3 mn by 2025. Stratasys, Ltd., Solidscape, Inc., and EOS GmbH are three companies holding stronger position in the global 3D printing market than other key players, such as Optomec, Concept Laser GmbH, Voxeljet Technology GmbH, ExOne GmbH, SLM Solutions GmbH, and Arcam AB.