3D Printing Market Value to Reach US$ 41 Billion By 2026
Global 3D Printing Market value is expected to reach around US$ 41 billion by 2026, growing at a noteworthy CAGR of 20.1% over the forecast period 2019 to 2026
LOS ANGELES, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “3D Printing Market By Technology (Stereo Lithography, Fused Deposition Modelling, Selective Laser Sintering, Electron Beam Melting, Digital Light Processing, Other Technologies), By Offering (Printer, Material, Software, Service), By End User (Automotive, Healthcare, Industrial, Consumer electronics, Aerospace & defense, Others)– Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026”.
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In 2018, North America held the largest market share owing to the substantial adoption of additive manufacturing. The strong presence of technology in the healthcare sector of the region is an important factor favoring segment growth. The increasing use of 3D printing for producing personalized prosthetics through complex bioprinting is boosting the regional market growth. Dr. Dana Piasecki from North Carolina, U.S. has successfully used 3D printed metal tools in 2016 for the reconstruction of anterior cruciate ligament (ACL) which was earlier done with the help of standard surgical technique, but the use of 3D printing solution has significantly increased the success rate of the surgery. In addition, the freedom of manufacturing the object with the desired specification of the user is also a factor associated with the use of 3D printing which is further favoring the regional market growth.
The service segment is held the maximum share in the global 3D printing market in the 2018. The segment has the potential growth owing to the increasing adoption of this technology in various industry verticals including healthcare, aerospace, and automotive. For instance, Protolabs a leading manufacturer of custom prototypes and on-demand production parts with manufacturing facilities has recently launched a new polypropylene (PP) 3D printing service in Europe. The new facility aims to provide the ability to design engineers for developing and testing prototypes. In addition, SLS 3D printing technology incorporated to enable the creation of complex designs.
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The Fused Deposition Modelling (FDM) segment accounted for the largest market share in the year 2018. It’s a preferred technology in 3D printing, FDM printer use thermoplastic filament which gets heated to the melting point and extruded according to the shape and cross-section of the desired three-dimensional objects. The FDM technology is effective for manufacturing affordable and durable complex parts in various applications in automotive, consumer goods, and aerospace.
Fused Deposition Modeling (FDM) is the most used 3D printing method out of several other methods. FDM printing process use thermoplastic filament that is heated to its melting point and extruded to create a 3D object.
Some of the leading competitors of 3D Printing Market include 3D Systems, Arcam AB, Autodesk, Inc., Stratasys Ltd, The ExOne Company, Hoganas AB, Optomec, Inc., Organovo Holdings, Inc., Ponoko Limited, and Voxeljet AG. The companies are involved in mergers and acquisitions, partnerships and new product development for the expansion of market share and for gaining a competitive advantage.
Related Reports:
- 4D Printing in Healthcare Market - The global market size is expected to reach around US$ 34.1 Mn by 2026 growing at a CAGR of around 29.6% over the forecast period 2019 to 2026.
- 3D Printing in Automotive Market - The global market is expected to reach over USD 3.9 Billion by 2026 and is expected to grow at a CAGR of 24.6% during the forecast period 2019 to 2026.
- 3D Printing in Medical Applications Market Analysis - Global Industry Size, Share, Trends and Forecast, 2019 to 2026
Some key observations regarding veterinary medication industry include:
- In 2019, a Texas-based 3D printer provider, Essentium Inc. has announced the expansion of the High-Speed Extrusion (HSE) 3D printing platform owing to increasing demand. The company is also scaling HSE FDM 3D printer production, expanding operations across the globe, also stimulating material development.
- A Singapore based 3D printing dental solutions provider, Structo Pte. Ltd. has closed its latest funding round in Oct. 2019, which was backed by government-linked global investor EDBI. The funding aims to enable mass production of automated dental 3d printing technology products.
- Remet and 3D Lab. has opened a US$ 3.1 million metal 3D printing laboratory in Stalowa Wola. Remet is looking forward to completing its research into 3D printing materials and manufacturing processes. 3D Lab equipped the laboratory with 3D printers from OEM 3D systems and ATO lab metal powder atomizer.
- A team from the University of Maine, United States’ Advanced Structures and Composites Center has grabbed 3 Guinness World Records for the creation of its largest and unique 3D printer. The team created largest polymer 3D printer prototype, largest 3D printed object and largest 3D printed boat in the world, and receiving awards all of them.
- The team received one record for the world’s largest prototype polymer 3D printer, one for the creation of largest 3D-printed object ever made and the last one for the world’s largest 3D-printed boat.
- An Austin startup has designed a 3D printing technology that is capable of building an affordable tiny home in about a day and that too with the fraction of cost as compared to the traditional construction methods. This unique customization is likely to gain potential growth down the lines owing to the increasing demand for affordable housing in the US.
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