Asia-Pacific Industrial 3D Printing Market Analysis, 2020
According to MarkNtel Advisors' research report Asia-Pacific Industrial 3D Printing Market Analysis, 2020", the Asia-Pacific Industrial 3D Printing market is anticipated to grow at a CAGR of around 11% during 2020-25.
Delta, BC -- (SBWIRE) -- 08/24/2020 -- 3D printing, also known as additive manufacturing technology, is a method of creating three-dimensional objects from a design file by adding successive layers of materials. Industrial 3D Printers are mega 3D printers that are used for industrial applications and would require industrial HVAC, industrial power, and in some cases industrial gases and other such provisions.
Industrial 3D printing also known as industrial additive manufacturing is evolving at a steady rate. This technology is use for the industrial purpose to produce finished parts with specific mechanical characteristics and is majorly deployed by the vertical such as aerospace, medical and automotive industries. The market is expected to grow at a subsequent rate in the forecasted period on account driving factors such as burgeoning spending by the governments and manufactures in research & development, technological advancement in the 3D printing and burgeoning adoption in the other verticals such as consumer goods and healthcare.
According to MarkNtel Advisors' research report " Analysis, 2020", the Asia-Pacific Industrial 3D Printing market is anticipated to grow at a CAGR of around 11% during 2020-25. The COVID-19 has adversely impacted the growth of industrial 3D printing market due to the disruption in supply chain in the country and shutdown of manufacturing facilities due to the lockdown imposition in countries such as India, China, Japan, South Korea, etc. The end-user industries adversely affected by the lockdown are automotive, aerospace, heavy engineering industry.
Thus, the revival of operations in these is estimated to be slow in the near future as Based on Technology, Fused Deposition Modelling (FDM) acquired the highest market in 2019 on account of its low- cost three-dimensional printing technique. Along with this, it also reduces weight, build time,and is increasingly deployed in healthcare industry for the development of new drug delivery system.
China grabbed the majority market share in the Asia-Pacific Industrial 3D Printing market in 2019.The growth is attributed to snowballing application of 3D printing in industries such as aerospace and defence, industrial manufacturing, automotive and health care companies. In addition, the boost in government spending and continuous technological up gradation is expected to upsurge the growth of the Asia-Pacific market.
According to ', the key players with a considerable market share in the Asia-Pacific Industrial 3D Printing market include 3D System Corporation, Stratasys Ltd., EOS GmbH, Arcam AB, Materialise NV, Envision TEC, Voxeljet AG, and Others.
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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.
We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.