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15
Jul-2019
Master the Art Of 3D Printing Market
North America leads the 3D Printing Market by both value and volume, as per the statistics in 2018. The situation of all the market key players in this region is an added advantage to its significant market position. Europe is second in the lead in the market for 3D Printing.
3D Printing Market Introduction:
3D printing, also known as desktop manufacturing or additive printing technology, enables manufacturers to develop objects using a digital file and various print media.
The factors driving the 3D printing market are reducing errors, reducing costs and development time, and creating customized products. Besides, increased applications in the health sector and other sectors will create lucrative growth opportunities.
3D printing is going through this turning point, probably because companies in many industries are using it more and more for rapid prototyping. Today's 3D printers are capable of printing a wider variety of materials (which means mainly more printing on metal and less printing on plastic, although it is likely that plastic still predominates); they print objects faster than before and can print more massive objects (compilation volume). A constant stream of new participants is expanding in the market. 3D printing is considered an "essential ingredient" in Industry 4.0.2, the combination of advanced production techniques and operations associated with intelligent digital technologies heralded as the "fourth industrial revolution."
Growth in the use of 3D printing Market in the automotive industry.
In recent years, 3D printing market has primarily penetrated the automotive sector. Using 3D printing, the manufacture of light vehicle components is possible to reduce vehicle weight, improve car performance, and increase fuel economy. Besides, this technology makes it possible to obtain higher efficiency in the manufacture of injection molding tools. Vehicle plastic parts manufactured using conventional methods take a long time to cool down and are then installed in vehicles. However, 3D printing can limit production time, improve tool quality, and minimize maintenance costs by integrating internal cooling channels with the injection molding process. One of the latest examples of 3D printing is that of the BMW car giant. In May 2018, BMW launched a new prototype of its bike, the s1000RR, integrating 3D printing. The bicycle prototype consists of a 3D printed frame and an oscillating arm manufactured by 3D technologies.
Geographical Presence:
Service offered to maintain the bulk of the 3D printing market in 2018 – The service segment represents the most substantial part of the supply-based 3D printing market. The projected growth in the services market is attributed to the expected increase in demand for custom design and manufacturing. The market has experienced significant growth, with rapid progress in sectors such as medical care (including medical care, orthopedics, and dentistry), the aerospace industry, and the automotive industry. Adopt this technology.
The merger bench process will have the most extensive participation in the 3D printing market size 2018 – The electric bed melting process represents the majority of the market. The market growth of the electrical bed smelting process can be attributed to the ability to produce complex geometries, high characteristic resolution, functional strength, and a decent surface finish.
Prototyping to dominate the 3D printing market in terms of size over the forecast period – The prototyping application represents the most significant part of the 3D printing market. 3D printing makes it possible to produce prototypes and models from computer-assisted 3D (CAD) design. This helps several companies reduce waste during prototype transitions in traditional manufacturing and also helps them reduce their operating costs.
The Asia-Pacific market will experience significant CAGR growth in 2018-2024 – The 3D printing market in the APAC region is expected to achieve the highest compound annual growth rate over the forecast period. Government initiatives, research and development funding, and the broad industrial base are the main factors that make APAC a dynamic region for 3D printing, with Japan and China contributing mainly.
Recent Trends:
- In September 2018, EOS GmbH (Germany) launched the 3D metal printer EOS M 300-4. The printer is equipped with four lasers with variable laser energy sources ranging from 4 × 400 to 2 × 400 and 2 × 1000 mixed configurations up to 4 × 1,000 watts.
- In December 2017, Arcam, a subsidiary of GE Additive (USA), opened a manufacturing plant in Härryda, Sweden. The installation is expected to strengthen the production capacity of your machine and allow a more collaborative installation within the company, bringing together logistics, research, and development, services, and operations.
- In January 2017, 3D Systems (USA) Acquired Vertex-Global Holding BV (The Netherlands), a global supplier of dental materials, which offers products (photopolymer, thermoplastics, polymers, and monomers) under the Vertex brand. And NextDent dental applications for and 3D printing.
- DELOITTE Global anticipates that 3D printing sales (also known as additive manufacturing) by large state-owned companies, including 3D printers for businesses, media, and services, will exceed $2.7 billion in 2019 and exceed 3 billion of dollars in 2020. (For the context, total revenues in the manufacturing sector total approximately US $ 12 billion per year1). This part of the 3D printing industry will grow about 12.5% in each of those years, more than double the growth rate a few years ago.
Conclusion:
Finally, some large companies are embarking on the 3D printing market, validating the space and encouraging the entire industry to innovate even more quickly. These large companies are investing in research, credibility, broad customer base and marketing, and fortunately for the growth of the sector, and they are generally expanding the pie instead of reducing sales to existing players. The 3D printing revenue of these Fortune 500 companies is irrelevant to them: for a company with a value of $ 50 billion to $ 100 billion, even a $ 250 million turnover in 3D printing would represent less than 0.5 % of your sales, but it is a 3D printing industry very hardware-based and probably represent about 15% of the total billing of the 3D printing industry by 2020.
WRITTEN BY: Shiva
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