In a recent published report, Kenneth Research has updated the market report for 3D Printing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for 3D Printing Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on 3D Printing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The 3D Printing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The report covers the forecast and analysis of the 3D Printing Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of 3D Printing Market over the period 2019-2026.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The use of 3D printing in industrial applications usually refers to additive manufacturing (AM). Additive manufacturing involves a layer-by-layer addition of material to form an object referring to a three-dimensional file with the help of a software and a 3-dimensional printer.A relevant 3D printing technology is selected from the available set of technologies to implement the process. The last step involves deployment of this process across different industry verticals based on the necessity.
Rising application of 3D printing technology in healthcare is set to gain prominence as a key growth driver for this market in the forthcoming years. According to a study published in the medical journal ‘Quantitative Imaging in Medicine and Surgery’, 3D printing has attained popularity in the medical field owing to its wide-ranging applications, such as in orthopedics and tumor imaging.
The 3D printers available in the market are based on different technologies such as stereolithography (SLA), fused deposition modeling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing (MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), laminated object manufacturing (LOM), and digital light processing (DLP). DMLS, SLS, and FDM are the most widely used 3D printing technologies.
The factors that drive the 3D printing market are reduction of errors, decrease in development cost and time, and the ability to build customized products. In addition, increase in applications in healthcare and various other industries is expected to create lucrative growth opportunities for 3D printing market. On the contrary, high cost of 3D printing, and scarcity of skilled labors hamper the growth of the market.
Key Market Trends
Fused Deposition Modelling Technology is Leading the Market
*In the 3D printing process, printers use a thermoplastic filament that is heated to its melting point and then extrude it layer by layer, according to the shape and cross-section of the product, to create a three-dimensional object.
*Fuel Deposition Modelling (FDM) has applications in automotive, consumer goods, aerospace, and other industries. This is an affordable solution to build durable and stable parts in these industries. It is also effective in manufacturing complex parts, the designs of which are too complex for traditional methods to execute.
*Over recent years, advancements of the technique have resulted in the deployment of low-cost FDM solutions and increased market penetration. The method is now being used for bio-printing applications using bio-synthetic polymers.
Market Segmentation
By Offering:
*Printer
*Material
*Software
*Service
By Application:
*Prototyping
*Functional Part Manufacturing
*Tooling
By Process:
*Powder Bed Fusion
*Material Extrusion
*Vat Photopolymerization
*Material Jetting
*Binder Jetting
*Directed Energy Deposition
*Sheet Lamination
By Regional Ananlysis
North America
*U.S.
*Canada
Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe
Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific
Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM
Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA
The key players involved in the 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.
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Competitive Analysis:
The 3D Printing Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
Key points covered in this report:
*The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
*The import and export details along with consumption value and production capability of every region is mentioned in the report.
*Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
*The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
The 3D Printing Market report highlight the economy, past and emerging trend of industry, and availability of basic resources. Furthermore, the market report explains development trend, analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out. In the end, the report makes some important proposals for a new project of 3D Printing Market before evaluating its possibility.
About Kenneth Research:
Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.
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