The three dimensional 3D printing market is growing at a considerable rate, due to increasing trend of manufacturing technologically advanced products, expanding applications of 3D printing in consumer products, automotive industries, and declining cost of 3D printers. The replacement of traditional manufacturing by 3D printing, development of 3D scan and print technology, are some of the factors contributing to the growth of the 3D printing market in the coming years.
Molding, eradication of costly tools, and workforce are some of the major advantages of 3D printing technology for the consumers. Any object can be designed, as per the specific requirements of the consumers through 3D printing technology. The technology supports creation of economical products, and less waste production in comparison to traditional manufacturing which saves a lot of time for consumers. The technology is vastly used in facilitating manufacturing processes, agglomeration production of certain items, expeditious prototyping, and customization. The demand for 3D printing technology is increasing due to the assurance by manufacturing industry for delivering within the prosperous global economy. 3D printing technology is expected to grow considerably in commercial and personal applications in the coming years.
3D printing was initially launched for rapid construction of prototypes for fit testing and form, but now its applications are transitioning towards functional testing of prototypes which are under working conditions. 3D object in 3D printing technology is produced by deposition of the layers of printing material. 3D printing works on the principle that includes material cartridges, flexibility of output, and conversion of code into an observable pattern. The technology is mostly used for rapid manufacturing, rapid prototyping, mass production, and mass customization. Some of the industries which use 3D printing technology are architecture industry, footwear industry, and automotive sectors. Manufacturers are increasing the use of this technology due to the simplicity of using 3D printing technology. In comparison to the other conventional methods producers are increasing the use the technology. Consequently, the 3D printing demand is expected to grow within personal and commercial printing applications in the coming years.
On the basis of use the 3D printing technology can be categorized as personal and, commercial. The 3D printing technology can be categorized on the basis of applications as industrial, automotive, architecture, education, consumer products, medical, aerospace, electronics, military, and defense. In the applications of 3D printing consumer products leads the 3D printing market. Some of the factors restraining the growth of the 3D printing market are inability to produce 3D printers in large volume at quick time, and infringement of intellectual property rights
Some of the competitors in the Global 3D printing market are Exone Gmbh, Stratasys, Ltd., 3d Systems, Inc., Voxeljet Technology Gmbh, Slm Solutions Gmbh, Arcam Ab, Eos Gmbh Electro Optical Systems, Solidscape, Inc., and Concept Laser Gmbh.
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