Consumer 3D printing market is growing at a very fast pace with 45% CAGR for next five years.

2024-04-13 06:57:54 Technology

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The Inception of 3D printing happened in 90?s but was chained to industrial application. From past 5 years the industry marked its entrance into consumer products. The Consumer 3D printing market is growing at a very fast pace with 45% CAGR for next five years. The pullulating market is supported by strong demand from the consumers. By the early 2010s, the terms 3D printing and additive manufacturing developed senses in which they were synonymous umbrella terms for all AM technologies. Although this was a departure from their earlier technically narrower senses, it reflects the simple fact that the technologies all share the common theme of sequential-layer material addition/joining throughout a 3D work envelope under automated control.
There is an increase in the demand for desktop 3D printers in schools and universities, allowing students to incline more toward inspiring and practical 3D modeling experimentations. There is also a rise in the personal usage of desktop 3D printers being to develop sculptures, custom avatars, characters, and figurines. Availability and reduction in the price of new materials such as metals and wax are driving the market for desktop 3D printers.
The benefits of laser metal deposition (LMD) printing technology include reduction of material waste, tooling costs, repair of parts costly to replace, reduction in lead time, customization of parts as per customers? requirements. LMD technology involves repairing, cladding, and producing parts.
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As of October 2012, additive manufacturing systems were on the market that ranged from $2,000 to $500,000 in price and were employed in industries including aerospace, architecture, automotive, defense, and medical replacements, among many others. For example, General Electric uses the high-end model to build parts for turbines. Many of these systems are used for rapid prototyping, before mass production methods are employed.
REPORT SCOPE: Market Segmentation:
Market By Price Ranges: Less than $500, $500-$1000, $1000-$2000, Greater than $2000.
Market By Materials: Plastics, Metals, Ceramics, etc.
Market By End Users: Homes, Educational Intuitions, Small And Medium Businesses, Architects and Designers, Service Providers, Others
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The prominent players profiled in this report are:
? 3D Systems
? Stratasys
? Materialise and others.
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