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Showing posts with the label 3D printing Market

The Revolution of Manufacturing: Why the 3D Printing Market is Booming?

  3D Printing   Industry Overview   The global 3D printing market size is expected to reach USD 88,281.2 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.5% from 2024 to 2030.  3D Printing (3DP) is also referred to as Additive Manufacturing (AM) as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.   3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The industrial vertical happens to be the most significant adopter of the 3D printing technology, eventually leading to th...

3D Printing Market Size To Reach $88,281.2 Million By 2030

  3D Printing Industry Overview The global  3D printing market size was valued at USD 20.37 billion in 2023  and is expected to register a CAGR of 23.5% from 2024 to 2030.  The aggressive research & development in three-dimensional printing and the growing demand for prototyping applications from various industry verticals, particularly healthcare, automotive, and aerospace & defense, are expected to drive the growth of the market. The use of 3D printing in industrial applications is usually referred to as additive manufacturing (AM). Additive manufacturing involves a layer-by-layer addition of material to form an object, referring to a three-dimensional file, with the help of software and a 3-dimensional printer. A relevant 3D printing technology is selected from the available set of technologies to implement the process. The last step involves the deployment of this process across different industry verticals based on the necessity. Gather more insights abo...