The advent of 3D printing technology has bridged the gap between the digital and the physical world. Similar in operation to 2D printers, 3D printers use thousands of layers of material which are printed layer upon layer with the help of an extruder to create the objects in 3D. Through this emerging technology, desktop 3D printers have made 3D printing accessible and affordable for a large number of population. Desktop 3D printers can be used in homes, offices, schools and universities, among other end-user sectors. The evolution in 3D printing technologies and gradual decrease in the cost of desktop 3D printers have led to the expansion of 3D printers in major domains of application. 3D printing has now spread over the world of clothing, shoes, frames, food, and experimenting with 3D printed dresses, chocolates and shoes.
The global desktop 3D printers is estimated to reach over $2.35 billion in terms of revenue and around 2.6 million units in terms of sales volume by 2022. In terms of revenue, the market is estimated to grow at a CAGR of 26.2%, between 2016 and 2022. The demand for desktop 3D printers has grown substantially over the years from various consumer sectors, and constant governmental support as well as decreasing costs have propelled the rapid market growth. However, the market is experiencing restraint from factors such as low quality desktop 3D printers, limitations in build volume size, lack of consumer awareness, and compatibility of 3D printing materials, which are hampering the growth of the market.
The desktop 3D printing market consists of various technology based desktop 3D printers namely, Fused Filament Fabrication (FFF), Stereolithography (SLA), Digital Light Processing (DLP), and Selective Deposition Lamination (SDL). The FFF technology based 3D printers held the largest share of the market with 89%, in terms of sales volume, in 2015. Among various desktop 3D printing materials prevailing in the market, viz. plastics, photopolymers, composites, paper and wax, 3D printing plastics material is currently dominating the market and is expected to grow at a CAGR of 18.3% from 2016 to 2022.
Desktop 3D printing has spread over a large application domain including education & art, fashion & aesthetics, toys & consumer devices, household goods and healthcare, among others. In terms of revenue, fashion & aesthetics segment has the largest market share currently, however, education & art sector is expected to grow exponentially during 2016 and 2022 and is anticipated to reach the highest sales volume by 2022.
3D printing has spread widely over the different regions of the world due to its reducing cost. Although America held the highest share of the market in 2015, Asia-Pacific is expected to overtake the leading position from North America by 2018. Furthermore, Europe is expected to acquire the larger market share at a high growth rate by 2022. Some of the key market players in the industry are XYZprinting Inc., 3D Systems, Stratasys Ltd., Ultimkare, M3D, FlashForge, Formlabs, Tinkerine Studios Ltd., Markforged, Zortrax, Shining 3D and Robo 3D.
BIS Research has conducted an extensive market research on ‘Global Desktop 3D Printer Market – Analysis and Forecast 2016-2022’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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