3D Printing Equipment & Materials Market - Metal Applications Growing at 17% CAGR from 2017 to 2024
OCEAN VIEW, Del., Sept. 27, 2017 /PRNewswire-iReach/ -- ceramic 3D printing materials market share was more than USD 100 million. These printer finds application across in plates, cups, saucers and statues. In addition, ceramic offers printing accessibility over elevated temperatures. Metal 3D printing materials market share shall witness gains close to 17% CAGR by 2024. Increasing product demand across industrial, aerospace, defense, and automotive due to substantial metal usage in these industries will positively boost the overall 3D printing material market size by 2024.
In 2015, the global 3D printing materials market size for electronics & consumer products accounted for more than 20% of the overall business share. Upgrading socio economic aspects including consumer spending pattern, lifestyle dynamics and income have positively influenced the electronic gadgets demand globally. This in turn will boost the overall 3D printing material market share by 2024.
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Polyjet 3D printing equipment market share accounted for over 35% of the overall industry in 2015. In addition, SLS 3D printing equipment market size shall witness gains close to 15% CAGR between 2016 and 2024. Increasing SLS product applications in automotive and aerospace industries will stimulate business growth by 2024.
3D printing equipment market is on a constant rise, owing to its vital application scope in pharmaceutical and medical industries. These printers are used in fabrication of human tissues and also in the manufacturing of living organs such as liver and heart.
Automotive manufacturing application is expected to record a Y-O-Y growth of 4% over 2016-2024. The robust growth is subject to the changing lifestyle, rising disposable income, and growing demand for vehicles with an enhanced aesthetic appearance.
Asia Pacific 3D printing material & equipment market is predicted to witness heavy gains over the coming years, owing to robust growth of automobile manufacturing in China, Indonesia, India, and Japan. Moreover, rapid technological advancements will also benefit the regional growth.
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North America emerged as a leading region for the overall 3D printing materials industry, having had more that 35% global share in 2015. Growth of aerospace industry and increase in sale of automobiles and electronic gadgets will stimulate the regional development. The growth is also favored by increased government funding.
3D printing materials & equipment market players are focused on developing high quality products at low costs. The key participants accumulating significant industry share include Arkema, Optomec Inc, Solidscape, Stratasys, 3D Systems, EOS GmbH (Electro Optical Systems), Concept Laser, Voxeljet, SLM Solutions, Hoganas and LPW Technology.
Browse key industry insights spread across 170 pages with 170 market data tables & 13 figures & charts from the report, "3D Printing Materials Market Share & Forecast, 2016 - 2024" in detail along with the table of contents:
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