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rising need for eco-friendly 3D printing materials due to environmental concerns

NEW YORK CITY, NEW YORK , UNITED STATES, July 13, 2023/EINPresswire.com/ -- The global 3D Printing Market had a value of USD 17 billion in 2022, and it is projected to reach USD 117.83 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 24% during the forecast period. One of the key drivers of this market growth is the increasing demand for 3D printing technology in various industries, including aerospace, automotive, healthcare, and consumer goods. These industries are adopting 3D printing to reduce production costs, enhance product quality, and expedite the product development process.

Furthermore, the healthcare sector's adoption of 3D printing technology is significantly contributing to the market's revenue growth. By utilizing 3D printing, the healthcare industry is able to create specialized medical implants, prostheses, and surgical equipment, resulting in faster healing times, reduced expenses, and improved patient outcomes.

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3D Printing Market Segments:

The global 3D printing market has been analyzed based on various parameters. In 2022, the market size was estimated to be USD 17 billion, and it is projected to grow at a CAGR of 24% from 2022 to 2032. By the year 2032, the market is expected to reach a revenue of USD 117.83 billion.

The report covers a comprehensive analysis of the market, including revenue forecasts, company rankings, competitive landscape, growth factors, and trends. It is based on historical data from 2020 to 2021 and encompasses the forecast period from 2022 to 2032. The quantitative units used in the report are in USD billion.

The market analysis includes different segments based on technology outlook, material type outlook, end-use industry outlook, and regional outlook. In terms of technology outlook, the segments considered are stereolithography, fused deposition modeling, selective laser sintering, and others. The material type outlook covers plastics, metals, ceramics, and others. The end-use industry outlook comprises automotive, aerospace and defense, healthcare, architecture and construction, and others.

The regional scope of the analysis covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions are assessed for their contribution to the overall market dynamics and growth.

Overall, this report provides a comprehensive understanding of the 3D printing market, including its size, growth potential, technology trends, material types, end-use industries, and regional outlook.

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3D Printing Market Strategic Developments:

In 2021, Stratasys Ltd. announced the acquisition of UK-based RP Support Ltd., a provider of 3D printing post-processing solutions. The acquisition was aimed at expanding Stratasys' product offerings and enhancing its customer support capabilities.

In 2020, 3D Systems Corporation announced a strategic partnership with CollPlant Biotechnologies Ltd. to develop and market 3D bioprinted tissues and scaffolds for use in Regenerative Medicine applications.

In 2020, ExOne Company announced the acquisition of the assets of Freshmade 3D, a leading provider of 3D printed tooling and molds. The acquisition was aimed at expanding ExOne's capabilities in the production of tooling and molds.

3D Printing Market Competitive landscape:

The global 3D printing market is characterized by intense competition, with a wide range of players, both large and small, operating within the industry. Some prominent companies in the market include Stratasys Ltd., 3D Systems Corporation, ExOne Company, HP Development Company, L.P., and EOS GmbH. These companies are recognized for their expertise and contributions to the advancement of 3D printing technology.

Stratasys Ltd. is a leading player in the 3D printing market, offering a diverse range of solutions for various industries. They provide 3D printers, materials, and software to enable efficient and innovative additive manufacturing processes.

3D Systems Corporation is another prominent company in the industry, specializing in the development and manufacture of 3D printers, software, and materials. They cater to a wide range of applications, including healthcare, aerospace, automotive, and consumer goods.

ExOne Company focuses on industrial-grade 3D printers and provides solutions for sand and metal printing. They serve industries such as aerospace, automotive, energy, and heavy machinery, enabling the production of complex parts and components with high precision.

HP Development Company, L.P., known for its expertise in traditional printing technology, has made significant advancements in 3D printing as well. They offer Multi Jet Fusion (MJF) technology, which enables high-speed, high-quality 3D printing for various industries.

EOS GmbH is a global provider of industrial 3D printing solutions, specializing in polymer and metal additive manufacturing. They offer a comprehensive range of 3D printers, materials, and software to facilitate efficient production processes.

These companies, along with others in the market, contribute to the continuous growth and development of the 3D printing industry, driving innovation and technological advancements in additive manufacturing.

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