Growth opportunities in the 3D Printing Market look promising over the next six years. This is mainly due to their use to generate everything ranging from a simple part to highly technical final products such as airplane parts, life-saving medical implants.
3D Printing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The declining manufacturing costs and process downtime ease in the enlargement of personalized products and the intensifying investments by the government in these projects are some of the prominent drivers contributing to the growth of the 3D printing market. In addition, the foundational drift in the inclination towards functional part manufacturing from prototyping across several industry verticals, including aerospace, consumer goods, medical and automotive id further strengthening the 3D printing market size. Furthermore, the soaring number of research and development activities will promote market growth.
Also, the technology allows manufacturers to deliver customized products according to the requirement of customers with better accuracy and explicit smoothness. Moreover, this technology is extensively implemented for product design and offers enormous advantages, including risk reduction and real-time perspective. These factors together will bolster the market growth. However, the existing misconception concerned with the prototyping processes by the small and medium-scale manufacturers will hinder the market growth.
Technology Segment Drivers
Based on the technology, the direct metal laser sintering is predicted to expand at a higher CAGR during the forecast period. This is primarily attributed to the growing usage of this technology, such as for tooling and manufacturing of fixtures and jigs. Also, it allows the creation of high-quality metal parts due to its potential to smooth the construction of complicated geometries of metals. The DMLS is exhaustively applied for the production of complex structures, including aerospace and automotive for tooling and machinery parts. The economical production, rapid and smooth handling process, and detailed resolution are driving the market growth.
Application Segment Drivers
On the basis of the application, prototyping is expected to expand at a faster CAGR over the forecast period. This is due to its growing usage across various industries. The 3D printing produces prototypes from 3D computer-aided designs, which assists the enterprises in minimizing wastages and decrease operational costs. It also enables the swift production of cost-efficient prototypes based on the customer’s requirements.
3D Printing Market’s leading Manufacturers:
- WestRock Company
- Vanguard Packaging Incorporated
- Cardboard Box Company
- International Paper
- DS Smith
- Caps Cases Limited
- STI Group
- Weedon Group
- Smurfit Kappa
- Mondi
3D Printing Market Segmentation:
Segmentation by Type
- Paper and Paperboard
- Plastics
- Others
Segmentation by Type of Package
- Die-Cut Display Containers
- Corrugated Cardboard Boxes
- Shrink Wrapped Trays
- Modified Cases
- Plastic Containers
- Others
Segmentation by End-User Application
- Food & Beverage
- Household Products
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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