Global 3D Printing market expected to reach $22.2 billion by 2025 according to Glob Market Research

According to a new report published by Glob Market Research (Pune, India) titled Global 3D Printing Market – Overview, Components, Type, Materials, Applications and Forecast 2025 – the global 3D printing market was valued at $3.075 billion in 2015, and is projected to reach $22.2 billion by 2025, growing at a CAGR of 23.7% from 2015 to 2025. 3D printing technology has been available since the 1980s, the report stressed. But it has only come to the fore in the past decade, as the varied range of new 3D printing (3DP) products has convinced businesses that the technology could prove to be a real “game changer.” Companies are increasingly aware that the breadth of 3DP technologies (or additive manufacturing and materials) offers solutions for many types of industries all over the world. However, faced with this huge variety, many businesses lack the knowledge and confidence sufficient to identify the right technology, applications and uses for their specific needs. “In working with clients, we’ve seen that they’re limiting their ability to quantify the benefits of the technology and incorporate it into their strategic vision. We hope that our new study can provide the insights to incorporate it into their strategic vision,” said Glob Market Research.

3D printing technologies can replicate the fine details of just about anything.

3D Printing (also known as Additive Manufacturing) in today’s infancy period, requires manufacturing firms to be flexible. The act of technological development is bringing globalization in the 3D printing market. This market, said the study, has a potential for worldwide growth. Recent research has revealed that 3D printing accounts for only 30% of the total manufacturing sector. The total number enterprise shipments of 3D printing grew from 2,19,168 units in 2015 to 6,700,000 units in 2020, reflecting an annual growth of 207.95%. 3D printing technology also has a wide range of applications in areas such as automotive, healthcare, defense, aerospace, consumer products and many more.

Leading key players in the industry currently include systems manufacturers such as 3D Systems, Stratasys, Arcam, ExOne, Optomec – and suppliers such as Concept Laser, Scanlabs, Trumpf, as well as 3D services companies such as Solid Concepts and software providers such as Autodesk. The report provides a comprehensive review of current levels of adoption of 3D technologies and of likely future trends. It also reveals a multi-stakeholder view of the industry, considering both the experience and perspective of companies that have exploited the technology, complemented by case studies – as well as information reflecting financial developments on the suppliers’ side.

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Tony Curcio is the editor of Graphic Arts Magazine.