Market Research Report
Asia Pacific Market Insights on 3D Printing, Insights & Forecasts, 2019-2025: Emphasis on Component ((Product, Material, Technology)
|Published by||UnivDatos Market Insights Pvt Ltd||Product code||752396|
|Published||Content info||188 Pages
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|Asia Pacific Market Insights on 3D Printing, Insights & Forecasts, 2019-2025: Emphasis on Component ((Product, Material, Technology)|
|Published: August 1, 2019||Content info: 188 Pages||
Asia Pacific 3D printing market is segmented based on component, sub-component, technology, application and industrial verticals. Product (industrial and desktop printer), material (polymer, plastic, metal & alloy, ceramic and other) and services are the types of components considered while analysing and defining the penetration of 3D printing technology in different geographies and countries. In 2017, product segment dominated the Asia Pacific 3D printing market with maximum share in terms of revenue. Based on estimation, the segment occupied for around 36.8% share in the same year. However, increasing demand for desktop printers would help the product segment to grow at a faster rate of 30.4% during the forecast period (2018-2024).
3D printing offers integration of metals & alloys with other raw materials as per the requirement of the end-user industry, to create specified 3-dimensional objects. During 2017, polymer held prominent share of 33.5% followed by plastic which held 30.6% during the same year. Polymer market in Asia Pacific 3D printing was valued at US$ 57.2 Million in 2017 and is projected to derive US$ 358.3 Million revenues by 2024 witnessing astonishing CAGR of 30.2% during the forecasted period. Numerous industrial sectors are influenced by 3D printing solutions. In addition, Custom Design and Manufacturing held more than 50% share and garnered US$ 72 Million revenues during 2017. Based on technology, the Asia Pacific market is segmented into stereo lithography, selective laser sintering, electron
beam melting, fused deposition modeling, laminated object manufacturing and others. In 2017, Fused Deposition Modelling technology dominated the regional 3D printing market, and is expected to maintain its dominance throughout the analyzed period. It is projected to reach US$ 1,219.8 Million by 2024 showcasing significant CAGR of 28.7% during the analyzed period. Furthermore, depending on application type, the market is further classified into Functional Parts, Fit and Assembly, Prototype Modelling, Education, Metal Casting, Metal Casting, Visual Aids and Presentation Modelling. During 2017, functional parts occupied the largest share of 33.8% followed by Fit and assembly application type in regional 3D printing market.
Moreover, benefits of 3D printing can also be witnessed among various industry verticals such as Education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction and others where the additive manufacturing has turned out to be a game changer. Automakers and raw material suppliers for manufacturing sector have realized the benefits of 3D printing solutions, eventually increasing the demand for 3D printing solutions in these industries. In the automotive industry, the use of 3D printing technology has been successful in bring about new shapes to the industry, allowing the industry to produce lighter and more complex structures at affordable price ranges. Manufacturing sector was accounted as the fastest growing industry vertical in terms of its applications in 3D printing. Based on estimation, the respective segment is projected to generate revenue of US$ 743.6 Million in by 2024 displaying tremendous CAGR of 28.7% during the forecasted period in Asia Pacific 3D printing market.
Since, the concept of 3D printing has taken Asia Pacific market by storm the technology has emerged as one of the promising concept in the specific region wherein entrepreneurs in the Indian market have visualized ample opportunities in 3D printing space. Moreover, new developments in 3D technology have enabled the companies to accelerate and simplify product development processes. To add on, advent of 3D printing has considerably paved the way for 3D manufacturers owing to substantial growth of manufacturing in various sectors ranging from automotive, healthcare to medical implants to retail goods. The impact of 3D printing is becoming deep and permanent in every industrial segment. However, absence of appropriate knowledge on 3D printing among the personnel and rate of unemployment contribute as restraining parameters behind the fostering growth of 3D printing in respective region.
For better understanding of 3D Printing market penetration, the market is analysed one the basis of different countries such as Asia-Pacific region (China, Japan, India, South Korea, Singapore, Taiwan and Rest of APAC). Based on estimation, Asia Pacific accounted for revenue share of 12.2% in 2017. Countries that majorly lead the growth of 3D printing in the region encompass China, Japan and India wherein Japan currently occupies the prominent share and contributes more than 20% to the overall regional 3D revenues. The respective country contributed around US$ 163.5 Million in 2017 towards regional 3D printing sales and is further projected to garner US$ 877 Million by 2024 registering substantial CAGR of 27.3% over the period. Accredited to extensive industrial base, favourable government policies and appropriate funding in Research and Development initiatives, Asia Pacific 3D printing has surged exorbitantly.
Considering the presence of 3D printing players in Asia Pacific region, 3D Systems Corporation, Arcam AB, Royal DSM N.V., ExOne Company, Autodesk, Inc., Stratasys Ltd., Organovo Holdings, Inc , Hoganas AB, Mcor Technologies Limited and Voxeljet AG, constitute as some of the prominent players operating in 3D space. The players consistently aim to focus on product development, launch new products and enhance their existing portfolios to expand their customer base and strengthen their market position through partnerships and collaborations which further offers them growth opportunities for geographic expansion.