China has one of the largest manufacturing volumes in the world in certain sectors, such as aerospace and automotive as well as consumer electronic due to the increasingly personalized demands of consumers. The China Metal 3D printing market is witnessing high growth on account of growing concern on 3D printing by government, enterprises and research institutes, rising application of 3d printing in the medical fields such as human organs, tissue scaffold and medical device along with burgeoning shipments of industrial-class 3D printer in the country. The increasing support by the government by introducing various initiatives to embrace 3D printing is propelling the growth of the market. In 2017, the government introduced the “Additive Manufacturing Industry Development Action Plan” under the Made in China 2025 campaign to promote smart production technologies such as 3D printing, along with the National Development and Reform Commission emphasized industrial 3D printing, namely for large engines and space technologies. Moreover, in 2018, China’s National Intellectual Property Administration listed companies in 3D printing materials as key support targets.
According to MarkNtel Advisors’ research report “China Metal 3D Printing Market Analysis, 2020”, the China Metal 3D Printing market is anticipated to grow at a CAGR of around 34% during 2021-26F. The increasing investment in R&D, snowballing adoption of new technologies by the industries coupled with the escalating presence of major market players in the country, and burgeoning adoption rate of additive manufacturing by Chinese companies are some of the factor anticipated to place the lucrative opportunity for the growth of the market in the forecast period. However, the turmoil of the COVID-19 outbreak in the country has impacted the market of metal 3D printing due to the temporary closure of the manufacturing plant which has hampered the demand for 3D printing.
“China Metal 3D Printing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Metal 3D Printing providers across the Globe. 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.
Healthcare Acquired Significant Market Share
Based on the Application, Healthcare acquired a significant market share in the China Metal 3D Printing market in 2019. The demand for 3D printing in the medical field has surged at an astronomical rate over the past few years. The increasing inclination towards organ printing as the country has serious storage of organ donors. 3D bioprinting is valuable for pharmaceutical development and organ substitution as this is projected to change the medical industry and can enhance life expectancy drastically. Along with this, various biotechnology firms are also aiming at tissue-engineering applications which are expected to upsurge the demand for 3D printing in the near future. Thus, this expected to bolster the growth of the Metal 3D Printing Market in the forthcoming period as stated in MarkNtel Advisors’ research report “China Metal 3D Printing Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the China Metal 3D Printing market are 3D System Corporation, Hoganas AB, Arcam AB, Renishaw, PLC, The ExOne Company, Electro-Optical Systems (EOS) GmbH, Optomec, Inc., Sciaky Inc., Additive Industries, SLM Solutions Group GmbH, etc.
Key questions answered in the study: