Global 3D Printing Market to Reach $8.7 Billion by 2020
July 18, 2017 | PRNewswireEstimated reading time: 1 minute
Netscribes Inc. today announced the findings of its research on the global 3D printing market. According to Netscribes, the global 3D printing market is expected to grow at a Compound Annual Growth Rate (CAGR) of 25.5% and will reach $8.7 billion by 2020.
Latest advancements in additive manufacturing technology have expanded the applications of 3D printing across various industries. The challenge for companies is to understand how these advancements can impact their existing business functions. Using its in-house market research capabilities, Netscribes compiled the latest 3D printing trends and impact of 3D printing across major industries, including defense and aerospace, automotive, healthcare, retail, general manufacturing, and supply chain in the infographic Global 3D Printing Market Outlook 2017.
Industry-wise impact of 3D printing advancements:
- Defense and aerospace
- In the immediate future, the use of 3D printing in aerospace will help in building aircraft components in low volumes and reducing the weight of aircrafts.
- In the coming years, we can expect fully 3D printed aircrafts, self-healing military vehicles, and printing on the battlefield.
- Automotive
- In the current and near-term, 3D printing will find applications in in design and prototyping, after-market customization, and vehicle restoration.
- Some of the likely developments include building of light-weight and specialized components in some vehicles, crowd-sourced vehicle design and manufacture, while in the future we can expect 3D printing to enable the development of more innovative vehicles.
- Healthcare
3D printed organ models are being used to help doctors plan complex surgeries. In the future, 3D bioprinting technologies will play a major role in building complex organs and manufacturing medicines.
Other takeaways from the report:
- Industrial design contributes to nearly 10% of the overall spend on 3D printing technology.
- Metal 3D printing is the most-preferred additive manufacturing technology.
- By the end of 2023, the average 3D printer production speed is expected to increase by 88%, thus helping improve volume capabilities.
- North America's market share is expected to decline towards the end of 2023, while Asia's market share is expected to increase, as China begins to leverage its existing manufacturing and distribution infrastructure.
About Netscribes
Netscribes is a global market intelligence and content management firm with services across the research and information value chain. Venture-funded by US and Singapore private equity firms, Netscribes provides tactical and actionable insights to its clients and enables effective decision-making and strategic implementation.
Suggested Items
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Fujitsu, METRON Collaborate to Drive ESG Success
04/24/2024 | JCN NewswireFujitsu Limited and METRON SAS, a French cleantech company specializing in energy management solutions for industrial decarbonization, today announced a strategic initiative to contribute to the realization of carbon neutrality in the manufacturing industry.
Real Time with... IPC APEX EXPO 2024: Final Finishes and IC Substrate Manufacturing
04/24/2024 | Real Time with...IPC APEX EXPOEditor Marcy LaRont and Richard DePoto, Uyemura's Business Development Manager, engage in a comprehensive discussion about the positive aspects of the show, the benefits of RAIG in final finishes, and the hurdles faced when upgrading your surface finish. Also discussed are the role of Uyemura's MEC pretreatment agents in IC substrate manufacturing and the importance of collaboration and knowledge sharing.
Women MAKE Awards Recognizes GlobalFoundries’ Jennifer Robbins and Katelyn Harrison for Manufacturing Excellence
04/24/2024 | GlobalFoundriesThe Manufacturing Institute (MI)—the workforce development and education affiliate of the National Association of Manufacturers—honored two outstanding women from GlobalFoundries (GF) at their annual Women MAKE Awards. Jennifer (Jenny) Robbins, Senior Director, Central Facilities, was recognized as a 2024 Women MAKE Awards Honoree, while Katelyn Harrison, Senior Integration Engineer, was honored as an Emerging Leader.
GlobalFoundries Commits to Achieving Net Zero Emissions and Carbon-Neutral Power by 2050
04/23/2024 | GlobalFoundriesGlobalFoundries (GF) is furthering its commitment to sustainable operations and fighting climate change with the announcement of two new long-term goals to achieve net-zero greenhouse gas (GHG) emissions and 100% carbon-neutral power by 2050.