3D printing is a type of additive manufacturing (AM) that creates a tangible 3D object through layer-on-layer material deposition. The process, according to many, has triggered the third industrial revolution, since the technology has extensive economic and social uses. To present a comprehensive and unmatched perspective on the global 3D printing industry, Transparency Market Research has published a report, titled "Global 3D Printing Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 ". While in 2012, the global market value for 3D printing stood at US$2,200, the report projects tremendous growth for the global 3D printing market between 2013 and 2019. According to the report, the 3D printing market is likely to exhibit a 16.8% CAGR during the forecast period.
The market for 3D printing is still at a nascent stage, however, it demonstrates tremendous growth potential. Major industries around the world are keen to update their processes with latest technologies, and this has delivered a burgeoning market for the 3D printing industry. 3D printing helps industries eliminate expenditure incurred on expensive tools and labor, which is the primary factor driving demand for the technology in the industrial sector. The technology has also helped users check material wastage, save time, enhance efficiency, and create high-end products as compared to indigenous manufacturing.3D printing has multiple applications in customizing, prototyping, and expediting the manufacturing process. The technology also enables mass production of selected items. Since the manufacturing industry is poised for robust growth owing to a recuperating economy, the demand for 3D printing is expected to rise remarkably. During the foreseeable future, 3D printing technology, according to the report, will significantly impact the personal and commercial economic segments.
To evaluate the dynamics of the global 3D printing market, the report has segmented it on the basis of technology, application, usage, and geography. Based on technology, the 3D printing market can be classified into SLS, polyjet, SLA, FDM, and others. Industries such as medical, automotive, consumer products, education, aerospace, electronics, and others constitute the major end-use segments of the global 3D printing market. Geographically, the market is segmented into Europe, Asia Pacific, North America, and Rest of the World.
Increasing use of 3D printing technology across the aforementioned end-use industries has greatly contributed to the expansion of the global 3D printing market. Moreover, an increasing number of consumers today have access to 3D printers and 3D printing services. Hence, the demand for this technology from the personal use sector will also augment considerably during the forecast period. However, escalating threat of duplication and availability of counterfeit products in the market will impede its growth considerably. Nevertheless, the 3D printing service providers and manufacturers could tie up with other industrial manufacturers to capitalize on allied resources and customize 3D products as per the needs of automotive or health-care end users.
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