The non-metal 3D printing market is estimated to reach more than $9.28 billion by 2022 at a CAGR of 28.9% through the forecast period (2016-2022).
3D Printing is an upcoming and revolutionary technology, which holds the potential to affect the evolution of the overall manufacturing sector. The ability to 3D print solid objects in different materials, desired shapes and colors shows a prominent opportunity for various levels of technological innovation.
Rising global demand, decreasing printer prices and increasing acceptability of non-metal 3D printing technology from the end-user industries such as healthcare, aerospace & defense, automotive, fashion & aesthetics, consumer sector among others are some of the reasons responsible for the growth of this market. However, the market consists of certain constraints such as lack of awareness, high rate of initial investments, lack of skilled labor and lack of channel partner assistance which are resulting in being an impediment of its overall growth.
The report identifies North America as the largest revenue generating segment in 2015. Europe and APAC is expected to capture the larger market share at a high growth rate by 2022 because of lager consumer base, growing R&D investments and government funding towards 3D printing.