Printing parts at lower cost has become a reality nowadays. In the past, parts of machines and other stuff were made with heavy industrial machinery, and the cost of this machinery was in billions of dollars. But 3D printing has changed everything. Let’s know more about it.
3D printing, aka additive manufacturing, is a state-of-the-art technology, which is used for fabricating objects with the help of a machine that binds materials, such as metal or plastic together and then prints the object layer-by-layer. The application areas of this technology include medical field, education, manufacturing, architecture and archaeology, just to name a few.
Since 2010, the 3D printing industry has been making a lot of progress on a global level. After 4 years, the market size grew to an awesome figure of 4.1 billion dollars. Primarily, 3D printing uses high quality materials, equipment and software in order to print objects.
For ease of understanding, you can make two categories of the equipment used for 3D printing: personal equipment and industrial equipment. 3D printers that are designed for personal use come with a lower price tag. Basically, they are used in education and personal DIY projects.
By the end of 2014, the sales volume was around 100,000 units across the globe. On the other hand, 3D printers used in industries have various applications. They are marketed in Japan, USA, and Germany. The market share of the USA is about 40%, according to the statistics released in 2014.
The two giant players, Stratasys and 3D Systems have become one through acquisition. As far as the sales value is concerned, the two players got a share of 34% in 2014. During the same year, Stratasys managed to acquire a number of other companies, such as Robtec, Laser Reproductions, GrabCAD and Solid Concept, just to name but a few.
Nowadays, the share of China in the 3D printing market is not very noticeable. For instance, many core parts and 3D printing stuff for Chinese 3D printers is imported from other countries. However, the 3D printing technology has an edge in the national defense and aviation industry of the world. Moreover, the size of 3D printing market share of China was 4.65 billion. The market size went up at a fast rate after 2010.
Around two years back, the 3D printing market in China featured a lower concentration level, and the number of players involved in the industry was around 100. However, all of the companies were small.
Lately, an increasing number of companies are becoming part of the industry because of the new favorable policies of the state. Hopefully, in the next few years, we will see this industry on the list of No 1 industries of the world.