Worldwide 3D printing market to reach USD 11,140-million by 2022
3D printing is a rapidly growing market, as it considerably reduces raw material wastage compared to traditional printing methods. This, 3D printing has become pervasive across a wide range of application industries, such as healthcare, consumer electronics, automobiles and aerospace.
31 Mar 2021 | By PrintWeek Team
According to a report, released by Trends Market Research, the worldwide 3D printing market in aerospace and consumer electronics is expected to grow at a CAGR of 28.2% during the period 2016–2022 to reach an aggregate of USD 11,140-million by 2022. The 3D printing market in the aerospace vertical will experience an impressive growth from USD 613.7-million in 2015 to USD 1,446.7-million by 2019.
Increased investments by the big industry players, increasing public-private partnerships is boosting the growth of 3D printing in the aerospace vertical. Demand for sleek, light-weight and complex products is fuelling the demand for 3D printing in consumer electronics vertical.
Reduced raw material wastage, increased government investments, efforts to develop light-weight aircraft, increase in tech-savvy population, increased demand for wearables and smart devices in consumer electronics segment are growth propellants in the worldwide 3D printing market in aerospace and consumer electronics verticals.
It is expected that Asia Pacific and Latin America will be the biggest 3D printing market in aerospace and consumer electronics domain, in the coming years. The increase in the number of air travellers, increasing income and growing demand for sleek and light-weight electronic products will support the growth of the 3D printing market in these regions. It is predicted that major growth will be witnessed in China, Singapore and Brazil due to increased R&D activities in these countries.
For details, visit Trends Market Research.
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