3d Printing Market To Witness The Highest Growth In North America Region

By Author: Steve Stark
Total Articles: 138
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Increasing investment in 3D printing start-ups, government support, are technology innovation are some of the factors driving the growth of the North American market. North America dominates the market owing to several factors, including the presence of additive manufacturing companies, service bureaus, and engineering firms. North America is at the forefront in terms of the development of 3D printing. Various players are involved in R&D activities across different verticals. An increase in investments is also seen in North America, which is providing an opportunity for the market.

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Driver: Ease in development of customized products

Availability of materials and advancements in 3D printing technologies has accelerated the adoption of print-on-demand parts for production of customized functional parts. 3D printing enables the manufacturing of personalized products according to individual needs and requirements. The companies provide customized services, such as basic design development by designers, followed by allowing the customers ...
... to co-design the product. Ongoing technological advancements in the existing 3D printing technologies, reducing costs of printers, and availability of a range of materials enable the easy manufacturing of custom-made products.

The global 3D printing market is expected to grow from USD 12.6 billion in 2021 to USD 34.8 billion by 2026, at a CAGR of 22.5%.

Restraint: Limited availability and high cost of materials

A greater range of raw materials is available for traditional manufacturing than that available for the 3D printing-based manufacturing processes. Product manufacturing using 3D printing technology is an expensive process due to the high material costs, which is a major restraint to the market. Though the technology is a major process breakthrough, the materials that can be used are still limited. Also, the accuracy and reproducibility of the products formed by 3D printing are hampered due to the lack of proper standards concerning the mechanical properties of the materials used.

Opportunity: Increased demand for healthcare supplies due to COVID-19 outbreak

The healthcare industry across the globe has been severely impacted by the emergence of the COVID-19 outbreak. Increased demand for masks, personal protective equipment, testing equipment, and other medical supplies has encouraged the manufacturers of these components to focus on their production. The increasing number of patients and unavailability of raw materials to produce medical devices and personal protective equipment has created a huge disruption in the supply chain across the globe. This has encouraged the manufacturers to seek alternatives that can help manufacture these components in bulk and are as efficient as the original equipment.

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Challenge: Threat of copyright infringement

3D printers are likely to become very common with the increasing use of this technology, along with the expiry of patents. Companies have already started uploading their files on websites for customers to choose their products, followed by shipping them to the customers. Owing to such increased usage, customers may expect a higher degree of customization for the products they purchase. The rise in consumer adoption may lead to an increase in 3D piracy, i.e., the ability of customers to manufacture the products by themselves instead of buying them from suppliers.

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