DUBLIN — (BUSINESS WIRE) — November 26, 2014 — Research and Markets ( http://www.researchandmarkets.com/research/f43xrv/global_3d) has announced the addition of the "Global 3D Printing Market Report 2013-2020 & 2020-2025 - Technology, Material, Services, Application Forecasts for the $8 Billion Industry" report to their offering.
The global 3D printing market is in the progressive phase of its life cycle and was valued $2.3 billion in 2013 and is anticipated to reach $8.6 billion by 2020, growing at a CAGR of 20.6%
The anticipated advancement is due to the widespread applications of 3D printing and the potential prospects of 3D printing in diverse fields.
3D printing, also known as additive printing technology, allows manufacturers to develop objects using a digital file and variety of printing materials. The materials used in 3D printing include various types of polymers, metals, ceramics, etc. 3D printing offers methodologies that makes manufacturing of complex designs an apparent reality.
The factors driving 3D printing market are high degree of accuracy, efficient use of raw materials, ability to build customized products, simultaneous use of multiple materials for printing, efficient use of production time and financials, competency over traditional techniques, etc. On the contrary, higher production cost to individual users, expensive 3D printing software, lack of channel partner assistance, scarcity of skilled labors and inability to manufacture huge outputs are some of the restraints for the global 3D printing market. Also, application of 3D printing in various industries and improved manufacturing process are the opportunities present, which can be capitalized.
A quantitative data of estimated market size would also facilitate decision makers in planning profitable strategies. An extended forecast for the period of 2020-2025 will help in determining the market behavior based on the three faced picture of the 3D printing market.
Scope of the Report
Market by Technology
- Selective Laser Sintering
- Electron Beam Melting
- Fused Deposition Modeling
- Laminated Object Manufacturing
Market by Material
- Acrylonitrile Butadiene Styrene
- Polylatic Acid
- Polyvinyl Alcohol
- Edible Materials
Market by Application
- Consumer Products
- Industrial Products
- Education and Research