The technological development in the 3D printing technologies, increasing investment by the government of the developing countries in the Asia-Pacific region in 3D printing technologies, operational benefits of 3D printing, in addition to the proliferating adoption of the manufacturing- as a - service business model, and growing popularity of 3D printing over the conventional printing process are certain key factors contributing to the growth in the market of Industrial 3D printing in the Asia-Pacific region.
According to MarkNtel Advisors’ research report “Asia Pacific (ASPAC) Industrial 3D Printing Market Analysis, 2020”, the ASPAC Industrial 3D Printing market is anticipated to grow at a CAGR of around 11% during 2020-25. The soaring investments in the 3D printing technology, is the key driver for the growth of the market. Recognizing the potential of 3D printing, the government across the globe, including the ASPAC region, have launched several- initiatives for the promotion of additive manufacturing.
For instance, in India, about 3000 new schools were selected for the establishment of Atal Tinkering Labs (ATLs) under the NITI Ayog’s Atal Innovation Mission (AIM), in 2018. The objective of the mission was to provide advance knowledge to the young innovators about the technologies such as 3D printing, Robotics, IoT, and microprocessors.
Also, the Japan’s New Energy and Industrial Technology Development Organization (NEDO), pored the significant amount of investment in 3D printing technology that could fabricate from pure copper by using a high-intensity blue laser diode in late 2017.
Automotive Sector Emerging as the Key Industry for Industrial 3D Printing Market
Based on the industrial segmentation, the automotive segment, dominated the ASPAC Industrial 3D printing market during 2015-2019 as revealed by MarkNtel Advisors’, research report “Asia Pacific (ASPAC) Industrial 3D Printing Market Analysis, 2020”. The segment is expected to maintain its dominance in the years to come. However, the medical and healthcare segment is projected to attain the highest CAGR during the same tenure, factoring to the prospering penetration of the 3D printing technology in the healthcare sector considering the immense potential of the technology in the form of reduced led time and product development life cycle.
Fused Deposition Modelling Accounted for the Largest Share in the ASPAC Industrial 3D Printing Market
The Fused Disposition Modelling, by technology type contributed to the largest revenue share, through 2019, attributing to its significant application across several three-dimensional printing processes. It is the most commonly used technology in the desktop printing, due to its low-cost prototyping. However, the Stereolithography, is expected to hold substantial market share in the upcoming years, being it’s one of the oldest and conventional technology.
According to MarkNtel Advisors’, some the of key competitors operating in the ASPAC Industrial 3D Printing market includes 3D System Corporation, Stratasys Ltd., EOS GmbH, Arcam AB, Materialise NV, Envision TEC, EOS GmbH, Voxeljet AG, etc.
“Asia Pacific Industrial 3D Printing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decision, hotspots and opportunities available for Industrial 3D Printing providers across the Asia Pacific. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Industry Segmentation:
1. By Offering (Printers, Materials, Software, Services)
2. By Application (Tooling, Prototyping, Functional Parts)
3. By Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion, Sheet Lamination, Vat Photopolymerization)
4. By Technology (Stereolithography (SLA), Fused Deposition Modelling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), Selective Lase Melting, Electron Bean Melting)
5. By Industry (Automotive, Aerospace & Defense, Consumer Goods, Machinery & OEM, Others)
6. By Country (China, Japan, South Korea, India, Rest of ASPAC)
7. By Company (3D System Corporation, Stratasys Ltd., EOS GmbH, Arcam AB, Materialise NV, Envision TEC, EOS GmbH, Voxeljet AG, and Others)
Key questions answered in the study:
1. What are the current and future trends of the ASPAC Industrial 3D Printing market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the ASPAC Industrial 3D Printing market?
5. What are the customer orientation, purchase behavior, and expectations from the 3D printing companies across various regions?