Albany, NY -- (SBWIRE) -- 12/01/2016 -- Recent research study, titled "Global 3D Printing Materials Market 2016-2020," offers a comprehensive analysis, focusing on the key dynamics estimated to influence the growth of the market in the coming few years. The key drivers, barriers, and current trends in the global 3D printing materials market have also been discussed in the research study to give a clear understanding of the market.
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3D printing is an advanced technological process in which a digital design is used to create a three-dimensional (3D) object with the help of an additive procedure. In this method, the material is arranged in successive layers rather than cut and joined, in order to avoid any wastage. A 3D object is mostly designed using a 3D scanner or a computer-aided design software. In the last few years, 3D printing has gained immense popularity, owing to which the global market for 3D printing materials is projected to grow at a fast pace throughout the forecast period.
According to the research study, the global 3D printing materials market is estimated to register a 25.39% CAGR between 2016 and 2020. The rising support from governmental and nongovernmental organizations is anticipated to contribute significantly towards the development of the 3D printing materials market in the next few years. In addition, the growing demand for aircraft engines from original equipment manufacturers (OEMs) are estimated to augment the growth of the market in the near future.
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On the other hand, the rapid technological development is leading to high production cost, which is estimated to hamper the growth of the global 3D printing materials market in the next few years. Moreover, the strict approval procedure is expected to result in legal disputes, curtailing the growth of the market in the near future. Nevertheless, the emergence of 3D bioprinting technology has created several growth opportunities for the key players in the global 3D printing materials market.
The 3D printing materials market across the globe is diversified and extremely competitive thanks to the presence of several vendors in the market. The leading players are emphasizing on expanding their product catalogue in order to cater to the rising demand for 3D printing materials across the globe. Moreover, these players are spending enormously on research and development activities to create a niche for themselves in the overall market in the next few years. The rapid development of diverse industries such as healthcare, aerospace, and automotive is encouraging the vendors to invest more in the next few years.
The prominent players engaged in the 3D printing materials market include Hoganas, EOS, Arcam, Sandvik, and Solvay. Some of the other key players discussed in the research study are Renishaw, ExOne, and Concept Laser. The key players in the market are focusing on precision and accuracy in order to sustain in the market and gain the competitive advantage in the coming few years.
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