February 11, 2021
According to a latest study titled ‘Asia Pacific (ASPAC) Industrial 3D Printing Market Analysis, 2020’, available with Market Study Report LLC, Asia Pacific (ASPAC) industrial 3D printing industry is expected to register a yearly growth rate of 11% over 2020-2025.
Asia Pacific (ASPAC) industrial 3D printing market is set to witness tremendous gains in the coming years, attributable to efficiency of additive manufacturing technology to build multiple forms of 3D objects, from functional prototype to the highly technical and complex design products automobile components, artificial human organ and medical implants.
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On the contrary, factors such as high cost of industrial 3D industrial printers, material selection and its cost volatility, dearth of skilled professional and limitations of industrial printer product size are hindering the Asia Pacific (ASPAC) industrial 3D printing industry expansion.
Further, the Covid-19 pandemic has negatively affected the end-user applications of 3D printing as several economies in the region entered into a lockdown state and suspended economic activities in the first half of 2020. In fact, manufacturing operations came to halt for several months, largely impacting aerospace, automobile, and heavy engineering. However, these industries are set to rejuvenate in the forthcoming years owing to rising use of 3D printing in public and private sector, along with integration of the technology in automotive industry.
Based on the application spectrum, Asia Pacific (ASPAC) industrial 3D printing market is categorized into prototyping, tooling, and functional parts. Among these, prototype segment is touted to lead the industry over the forecast duration, creditable to the substantial rise in adoption of the technology across serval verticals for building test and concept products.
Apart from this, the research literature also offers vast data on other industry segments including offering (materials, printers, software, and services), process (direct energy deposition, binder jetting, material extrusion, powder bed fusion, material jetting, sheet lamination, military, vat photopolymerization, and homeland security), technology (stereolithography, selective laser sintering, fused deposition modeling, polyjet printing, direct metal laser sintering, electron bean melting, and selective lase melting), industry (automotive, consumer electronics, aerospace & defense, healthcare, machinery & OEM, and others), and country (India, Japan, South Korea, and China).
Leading players in Asia Pacific (ASPAC) industrial 3D printing market sphere are Envision TEC, ARC Group Worldwide, Inc., SLM Solutions Group AG, Voxeljet AG, The Exone Company, Materialise N.V., Arcam AB, EOS GmbH, Stratasys Ltd., and 3D System Corp.