3D PRINTING MARKET TO GROW AT A CAGR OF 28.5% BETWEEN 2016 AND 2022

The 3D printing market is expected to reach USD 30.19 billion by 2022, at a CAGR of 28.5% between 2016 and 2022. 3D printing is used to develop prototypes and end products in industries such as of automotive, medical, aerospace, defense, dental, bio-medical, jewelry, art, architecture, fashion design, and interior design among others. Along with these, the electronics, robotics, space crafts, construction, organ transplantations, food, and other industries have also started adopting the 3D printing technology. The 3D printing market is growing rapidly, and it is now focusing on the production of end parts with the development of the technologies and metal powdered materials. The market has been experiencing advancements in printers and printing technologies, improvements in materials used, and developments in skilled workforce.

3D PRINTING MARKET FOR THE EDUCATION SECTOR TO WITNESS A HIGH GROWTH RATE DURING THE FORECAST PERIOD

3D printing holds great potential in academics as it can engage a diverse population, including students, educators, and researchers, from various fields such as science, technology, engineering, and mathematics through limitless creativity in both, formal and informal processes. In addition, 3D printers are now adopted to develop 3D models in fields such as mathematics, geography, biology, history, arts, and tools.

APAC 3D PRINTING MARKET EXPECTED TO WITNESS THE FASTEST GROWTH DURING THE FORECAST PERIOD

Factors such as extensive industrial base and supportive government policies are driving the growth of the 3D printing market in APAC. APAC is the largest and fastest-growing market for industrial manufacturing, automotive, and consumer electronics, which provides new market opportunities for metal 3D printers. Prototyping is one the major applications which is expected to drive the market for 3D printing in APAC. Japan and China are the major contributors to this market.