3D printing market to reach $3.5 bn in 2017

Additivemanufacturing (AM) or 3D printing is a potentially growing market in every manufacturing sector – Medical Devices, Automotives and Aerospace – with a global market of $1.84 billion in 2012 and is expected to grow at a CAGR of 13.5% to reach $3.47 billion by 2017.

Automotives account for the largest share in this market, primarily due to the easy applications of 3D printing in the production of end-products (engines, spare parts, other interior, and exterior parts).

Within the medical industry, additive manufacturing is used in making end-products such as surgical equipment, prosthetics and implants, and scaffolds. The market is growing due to the rising incidence of surgeries, coupled with increasing awareness and advances in technology.

According to the report, “Global Additive Manufacturing Market (2012 – 2017) – By Application [Medical Devices, Automotives, & Aerospace] & Technology [3D Printing, Laser Sintering, Stereolithography, Fused Deposition Modeling, Electron Beam Melting, & Tissue Engineering”, new and improved technologies, financial support from governments, large application area, rapid product development at a low cost, and ease of development of custom products are the major drivers that are slated to propel this market. However, a few pivotal factors restraining the growth of this market are regulatory hurdles in different countries, material characterization during development, and process control and understanding. (Photo: Arcam AB)