According to a new market report published by Industry Probe, titled ‘3D Printer Market (Technology: Stereolithography, Fused Deposition Modeling, Selective Laser Melting , Material Jetting, Electron Beam Melting, Selective Laser Sintering, and Binder Jetting; Substrate: Plastic, Metal, Ceramics, Wax, Paper, and Sandstone; and End Use Application: Personal Use and Industrial (Automotive, Aerospace, Healthcare, Electronics, Consumer Products, and Others)) – Global Industry Dynamics 2020-27, Trends and Forecast, 2020–2027’, the global industrial printer market was valued at US$ 2,550.2 Million in 2018 and is expected to expand at a CAGR of 10% from 2020 to 2027.
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As per the report, the plastic segment dominates the 3D Printer Market in terms of substrate, as it is widely preferred in the global healthcare, electronics, and consumer products industry. Furthermore, plastic is widely used in personal use 3D printer, as it is cheap, easy to carry & operate due to which its demand is increasing worldwide. Plastics is majorly used in industrial printing industry, due to cost effectiveness, durability, and performance. The global healthcare industry is expected to further develop over the forecast period, along with growing development in printing biological tissues, organs, bones, and other objects. Healthcare providers are expected to increase spending on 3D printer at a compound annual growth rate of 8.7%. The application of 3D printing technology in several fields of the healthcare industry, such as dentistry, medical, transplantation, and pharmaceutical manufacturing has begun to develop rapidly worldwide.
The report anticipates that the introduction of new materials, cost reduction of personal use printers, product innovation, and customization are major factors that are projected to drive the personal use 3D Printer Market during the forecast period. In recent years, 3D printing has greatly penetrated into the automotive industry. With the support of 3D printing, lightweight automobile parts can be produced to reduce the weight of the car, improve the performance of the car, and improve fuel economy. In addition, the 3D printer technology can be used to achieve higher efficiency in the production of tools for injection molding. Due to the increasing application of 3D printing technology in medical and healthcare fields such as orthopedics and dental implants. It is estimated that over the forecast period, the global 3D printer industry’s share in the healthcare market will grow rapidly.
Industry Probe analyst says the growing popularity of personalization and customized printing is driving the demand for 3D Printer Market globally. Manufacturers of industrial 3D printers are introducing technologically advanced printers to meet the growing demand in the market. 3D printers have ALSO been used in the medical industry to design custom medical devices and prosthetics (including prosthetics and teeth). Therefore, the demand for production materials used in these areas, such as plastics, ceramics, and metals, is also anticipated to increase. The application fields of ceramics are very wide, covering scientific research, medical, industrial, construction and jewelry, etc., especially advanced ceramic materials with favorable properties are materials needed in aerospace and national defense, and 3D Printer Market products can guarantee good surface quality and various good properties. This is driving the 3D Printer Market in the region. Some of the major players operating in the 3D Printer Market are featured in this report to give a better competitive analysis of the market and these include Stratasys Ltd., 3D Systems Corporation, HP Development Company, L.P, EOS, Seiko Epson Corporation, Envisiontec GMBH, SLM Solutions Group AG, Ultimaker BV, General Electric and Kinpo Group and More
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