3D printing is referred to the preservative manufacturing process that creates a digital design from a physical object. It is used to increase productivity and reduce cost of production. It is used for tooling & repairing heavy equipment, manufacturing, machinery and robotics in the industries such as electrical, food & beverage, aerospace & defense, jewelry and healthcare.
According to study, “Global Industrial 3D Printings Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global industrial 3D printings market are Stratasys Ltd., The Exone Company, 3D Systems Corporation, SLM Solutions Group AG, Materialise NV, Envisiontec GmbH, EOS GmbH, Concept Laser GmbH, Voxeljet AG, ARC Group Worldwide, Inc., Arcam AB, Koninklijke DSM N.V., Optomec Inc., Cookson Precious Metals Limited, Groupe Gorge, Markforged, Inc., Renishaw PLC, Scuplteo, Höganäs AB.
Based on offering, industrial 3D printings market is segmented into materials, printers, services, software and others. Materials segment is further sub-segmented into metals, plastics, ceramic and other materials. Metals include steel, titanium, aluminum, alloys (Inconel, cocr) and other metals (gold, silver and other metal powders). Plastics include photopolymers and thermoplastics. Thermoplastics include Polylatic Acid (PLA), Acrylonitrile Butadiene Styrene (ABS), nylon and others (polycarbonate, polypropylene and Polyvinyl Alcohol (PVA)). Additionally, ceramic includes quartz, glass, silica and others. Services segment is further sub-segmented into consulting services and manufacturing services. Software includes printing software, design software, scanning software and inspection software. Based on process, market is segmented into binder jetting, vat photo-polymerization, direct energy deposition, powder bed fusion, material extrusion, sheet lamination and material jetting. Based on technology, market is segmented into Stereo lithography (SLA), Direct Metal Laser Sintering (DMLS), Fused Deposition Modelling (FDM), Electron Beam Melting (EBM), Selective Laser Sintering (SLS), inkjet printing, polyjet printing, Laminated Object Manufacturing (LOM), Digital Light Processing (DLP), Laser Metal Deposition (LMD) and other technologies. Based on application, market is segmented into heavy equipment & machinery, tooling and robotics. In addition, based on end-use industry, market is segmented into automotive, food & culinary, aerospace & defense, foundry & forging, printed electronics, jewelry, healthcare and other industries.
The industrial 3D printings market is driven by growth in development of new industrial 3D printing materials, followed by ease of developing customized products, rise in government investments in 3D printing projects and reduction in the manufacturing cost & process downtime. However, difficulties associated with the use of 3D printing software, limited availability & high cost of materials and lack of standard process control may impact the market. Moreover, growth in potential to improve manufacturing processes & enhance supply chain management and rise in applications in the manufacturing sector are key opportunities for market.
Based on geography, the North-American is a leading region in global industrial 3D printings market owing to higher usage in aerospace & defense, health care companies, rise in demand for industrial manufacturing and growth in technological up gradation & financial support from the government in the region. Whereas, the Asian-Pacific and European regions are predicted to exhibit substantial growth rate due to extensive industrial base and rise in investment in research & development activities over the forecast period. In upcoming years, it is estimated that the market will be reached at rapid pace because of rise in demand for accuracy and speed in printing during the forecast period.
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Ankur Gupta, Head Marketing & Communications