Showing posts with label 3D Printing Market Size. Show all posts
Showing posts with label 3D Printing Market Size. Show all posts

Wednesday, 18 January 2017

3D Printing: Making Possibilities Tangible

3D printing is also known as additive manufacturing. It is the process of making three dimensional (3D) solid objects from a digital file. This enables one to customize 3D print objects, such as shoes, artifacts, spare parts, and even prosthetics. 



How Does 3D Printing Work?

The process of 3D printing starts by creating a virtual design of the object that needs to be developed. This virtual design is generally a computer aided design (CAD) file. A 3D scanner or a 3D modeling application aids in creating the CAD file. 
A 3D model of the object (to be replicated) is prepared by dividing the model into thousands of horizontal layers. This process of dividing the model into numerous layers is known as slicing. The file is then fed into the 3D printer which prints the object. The printing process takes place via layering. This prevents the need for cutting and drilling. Tweaks in the software being used may further help in creating different items.

Growing Popularity of 3D Printing in Surgery

3D printing is used extensively in a range of applications right from automotives, fashion, consumer products, aerospace and healthcare. The Mayo Clinic uses 3D printing to help surgeons understand a patient’s anatomy clearly before they enter the operation theatre. The clinic began using 3D anatomic modeling in 2008, when the surgeons were handling a case of separation of conjoined twins. The 3D model helped the surgeons to get a fair idea about the shared liver of the conjoined babies, before beginning the surgery.

3D models are used in similar complex surgeries, such as tumors on the spine. The life-size models are made using the patients’ MRI or CT scan reports. This can lead to reduced operation room expenses and help patients understand their surgeries better.

This technology may be the next big thing in prosthetics. Prosthetic limbs are generally quite expensive. However, a fully functional hand was created recently using a 3D printer which costed only a couple of dollars. It enables a user to not only hold or catch objects but also to write. 

The prosthetic hand was made using free designs online within a very short span of time. 3D printing technology can enable amputees worldwide to participate in designing  their own prosthetics. 

A raw model of a prosthetic is created using the 3D software. It is then customized to suit the aesthetics and patient’s taste. An American designer had used titanium dust particles for printing an Exo prosthetic leg The final touches were however done by hand. 

3D Printing: Market Insights

According to a report published by Grand View Research, Inc.; the global 3D printing market will be driven by cost-efficiency and low manufacturing volumes. Lack of wastage of raw materials may also impel market growth. 

Competitive Landscape

3D Systems Corporation, Materialise NV., Envisiontec GmbH, and Stratasys Inc. are the prominent players in the 3D printing market. Most companies focus on mergers & acquisitions as their key growth strategies.

In-depth research report by Grand View Research, Inc. :

Monday, 2 November 2015

3D Printing Market Size, Growth And Forecasts To 2020

The global market for 3D printing was estimated to be USD 2,183 million in 2012, and is expected to reach USD 8,675.7 million by 2020, as per a new study by Grand View Research, Inc. The ability to facilitate low-volume manufacturing in a cost-effective manner is expected to fuel the market over the next few years. Further, the report analyzes that the growing need for flexible and customized products is expected to positively impact demand for 3D printing.

                             3D printing market revenue share by application, 2012
3d-printing-industry-analysis

Automotive and healthcare industries in particular, are estimated to be key growth areas for revenue generation. Automotive is expected to be the largest and fastest growing application, with an estimated CAGR of 19.6% from 2013 to 2020. The market for medical applications was valued at USD 397.2 million in 2012, with dental applications expected to contribute largely to this segment. Concerns over protection of intellectual property from products manufactured using 3D printing are expected to restrain the industry from reaching its target potential. Backward integration in the value chain in terms of acquisitions of software 3D designing participants has been analyzed to be an opportunity for gaining competitive advantage.

To Get More Details, click the link below: 

Further Key findings from the study suggest:
  • North America led the market, with approximately 42% of the overall market share in 2012
  • Europe is expected to grow at the highest CAGR of 20.4% from 2013 to 2020, which can primarily be attributed to increase in funding from regulatory bodies. Furthermore, increasing investment in research and development are expected to be favorable factors for market expansion in this region
  • In terms of raw material used for manufacturing, polymers are expected to dominate the market, and accounted for more than 35% of the overall revenue in 2012
  • The industry is moderately consolidated, with mergers and acquisitions emerging as the key growth strategy. Major industry participants include Stratasys Inc., 3D Systems Corporation, Envisiontec GmbH, and Materialise NV among others.

Grand View Research’s report estimates the market in terms of revenue (USD Million) and segments it as follows: 

3D Printing Application Outlook:
Automotive
Aerospace
Consumer Products
Medical
Others

3D Printing Raw Material Outlook:
Polymers
Metals
Ceramic
Others

3D Printing Regional Outlook:
North America
Europe
Asia Pacific
Rest of the World (RoW)

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