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U.S. 3D printing market is anticipated to flourish at a significant CAGR over the forecast period 2017-2024

Press Release

3D Printing also known as additive manufacturing is the process of transforming digital files information to the physical objects. 3D printing refers to processes in which material is joined or solidified under computer control to create a three-dimensional object, with material being added together such as liquid molecules or powder grains being fused together. In addition, 3D printing referred to a process that deposits a binder material onto a powder bed with inkjet printer heads layer by layer. Further, 3D printing is used in both rapid prototyping and additive manufacturing.

Market Size and Forecast

The U.S. 3D printing market is anticipated to flourish at a significant CAGR over the forecast period 2017-2024. Further, 36% of people find 3D printing more appealing to print products at home instead buying them from store. This factor is expected to robust the overall market of 3D Printing in U.S. over the forecast period.

U.S. is anticipated to account for a significant portion of market share in the overall market of 3D printing during the forecast period. Factors such as, increasing advancement in technology and implementation of 3D technology are anticipated to fuel the growth of the 3D printing market over the forecast period. Further, the industry‘s profitability is on rise; credited to increasing demand and industry‘s exponential revenue growth over the forecast period is expected to grow the U.S. 3D printing market.

U.s 3D Printing market

In addition, by 2016 industry‘s exports are expected to rise with an annualized rate of 18.6% whereas the import is expected to expand at an annualized rate of 8.5%. Further, the difference between the import and export growth rate portrays a strong picture of the U.S. as the major country over the forecast period.

Based on material, U.S. 3D printing market is segmented into, metals, plastic/polymer and ceramics, out of which, materials and plastic in various forms (like polymers) is the most used raw material due to its flexibility & adaptability are expected to dominate the overall U.S. 3D printing market during the forecast period.

Market Segmentation

Our in-depth analysis has segmented U.S. 3D printing market into the following segments:

By Product Type

Printer
3D Scanner
Multi-Color 3D Printer
Bid Industrial 3D Printer
Single Extruder 3D Printer
Dual Extruder 3D Printer
By Material

Metals
Plastic/Polymer
Ceramics
By Services

3D Scanning
Designing
Prototype Development
Selling Customized End-User Products
3D Printing material market size

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges

Factor such as, increasing research and development expenditure is anticipated to intensify the growth of the U.S. 3D printing market during the forecast period. In addition, the total expenditure on research and development (R&D) is anticipated to grow at a rate of 2.9 % from 2017 to 2024. Further, with U.S. economy expansion and growth in the future, the profit margin of the businesses and corporates will increase. This is envisioned to bolster the growth of the U.S. 3D printing market in the upcoming years.

Apart from this, increasing government support is anticipated to be the dynamic factor behind the growth of the U.S. 3D printing market over the forecast period. In addition, the government has invested USD 30 million to set-up additive manufacturing innovation institute in Youngstown, Ohio. Further, increasing mass customization is expected to supplement the growth of the global 3D printing market during the forecast period.

However, lack of export assistance, high cost and unavailability of skilled labors are some of the key factors which are expected to limit the growth of U.S. 3D printing market in upcoming years.

Key Players

Stratasys, Ltd.
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
ExOne
3D Systems Corporation
Optomec Inc.
AREVO Inc.
Autodesk Inc.
EOS of North America, Inc.
EnvisionTEC Inc.
HP Inc.
Sciaky Inc.

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About Kenneth Research:

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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