World 3d Printing Market Is Expected to Reach $8.6 Billion, by 2020 - Allied Market Research

According to a new report by Allied Market Research titled, "World 3D Printing - Market Opportunities and Forecasts, 2014 - 2020", the world 3D printing market is estimated to garner $8.6 billion by 2020, registering a CAGR of 21% during 2015 to 2020. This surge in growth is primarily attributed to the rising demand for faster and efficient ways to manufacture complex design objects using a wide array of materials.

Conventional printing manufacturing techniques find large application in industries such as automotive, aerospace, medical & healthcare, consumer products and others. The growing adoption of 3D printing in these applications is supplemented by the higher accuracy, efficient use of material and ability to build customized products. Its competency over traditional processes, time efficiency and simultaneous use of multiple materials are factors that further boost its adoption. However, the higher cost of personal printing, expensive software and the lack of channel partner assistance restrains the growth of this market. The economies of scale gained through advancements in technology and improved manufacturing processes will further boost the market growth. 

Stereolithography would continue to be the leading technology in 3D printing over the forecast period, majorly supplemented by its utilization in blow molding, injection molding and other metal casting processes. However, with the growing adoption of Selective Laser Sintering and Electron Beam Melting technologies, the overall revenue contribution of stereolithography technology would decline over the forecast period. Electron Beam Melting technology would register the fastest CAGR during the forecast period, as it is an ideal process for building parts with high resistance and strength, which are highly desired in aerospace, automobile, medical and industrial sector.

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