Global 3D Printing Market – Forecast to grow to $8.6 billion by 2020

According to the report titled “3D Print Marketplace (Technologies, Materials, Applications and Geography) – International Opportunity Analysis and Prediction-2013-2020”, the global 3D printing marketplace will reach $8.6 billion by 2020, filing a CAGR of 20.6% from 2014 to 2020. The upsurge in growth is chiefly due to rising demand for quicker and better ways to fabricate complex design objects employing a broad variety of substances.

The adoption of 3D print in several applications is growing on account of higher precision, efficient utilization of material and ability to create customized products. Its competence over simultaneous utilization of multiple materials, time efficiency and conventional procedures has become the other prominent adoption drivers.

Yet, higher cost of lack of channel partner assistance, expensive applications, and private printing has been limiting the growth of the market. The economies of scale gained through advancement in technology and enhanced manufacturing procedure may assist the market grow in future. Stereolithography, electron beam melting selective laser sintering, fused deposition modeling, and laminated object manufacturing are several of the technologies currently used for 3D printing.