How is the APAC 3D Printing Market Positioned?
The 3D printing market in Asia Pacific was observed to be in Growth stage during 2014-2019. The usage of 3D printing is majorly happening for prototyping application. China contributed the majority of the revenue in APAC in the year 2019P. The industry is booming with companies expanding their product offerings owing to increasing demand for the rapid and functional prototyping, rise in new technology adoption in the manufacturing process and increasing application in different end user industries such as automotive, healthcare, and aerospace and other industries. Government of countries such as China, Japan South Korea and others have launched various initiatives in order to increase the adoption of this technology and boost the manufacturing sector. 3D printing provides the ability to customize the product as per the requirements, which is the major advantage of using the technology. The APAC 3D printing market witnessed to increase from USD ~ million in 2014 to USD ~ million in 2019P, registering a CAGR of ~%. The market will continue to grow as more end user industries are adopting this technology. Further the implementation of this technology for production usage will benefit the market.
How is APAC 3D Printing Market Segmented?
By Region:
China contributed the maximum revenue share in the APAC 3D printing market in 2019P. Earlier Japan was leading in terms of the revenue contribution; however China overtook the Japanese market. Japan is now the second most revenue contributing country. It is followed by South Korea.
By Component:
3D Printers contributed the maximum revenue generated in the APAC 3D printing market. It was followed by the revenue generated from the sales of 3D printing materials. Service revenue includes revenue contribution both from on demand manufacturing services and service contracts offered by the leading 3D printing players in the market.
By Application:
Currently, the maximum usage of 3D printing has been observed for the prototyping application in the APAC 3D printing market. This majorly helps in reducing the time required for product development cycle. The revenue contributed by tooling and manufacturing is picking up gradually. The direct end user application is mostly witnessed in the healthcare industry currently.
By End User:
Automobile contributed the maximum revenue share in the APAC 3D printing market in 2019P. This was followed by Medical Devices and Healthcare industry and Aerospace Industry.
By 3D Printing Technology:
3D printing market is currently using majority of polymers based technologies such as FDM, SLA and DLP. The contribution from metal based technology such as SLM, DMLM and EBM is gradually increasing.
By Type of Materials:
Currently the market is majorly dominated from the sales of polymers due to wide material choice. Moreover, it has been observed that the market for metals is increasing at a higher rate.
Competitive Landscape of APAC 3D Printing Market
The APAC 3D printing market is currently in its growth stage and the competition in the market is moderately concentrated. The market is majorly dominated by the big international players. The players compete on the parameters such as technology, product portfolio, compatible material types, prices, different services and other factors. The major five players operating in the market include 3D Systems Corporation, Stratasys Ltd, SLM Solution Group Materialise NV and The Exone Company. Currently, competition is increasing as more number of domestic players are entering in the market.
What is the Future outlook and Projections for APAC 3D Printing Market?
In future, it is anticipated that the APAC 3D printing market will increase due to higher adoption by various end user industries, rise in implementation of 3D printing for production application, wider availability of material choices and growth in metal 3D printing technology. The APAC 3D printing market is expected to increase to USD~ million by 2025 in terms of revenue witnessing a CAGR of ~% during the forecast period 2019P – 2025F. Moreover, it is anticipated that China will continue to contribute highest revenue share in the APAC region whereas countries such as South Korea and India will increase their revenue share contribution. On the other hand, in terms of end users Automobiles will contribute the highest revenue and industries such as Medical Devices and Healthcare and Aerospace will support the growth of 3D printing in the APAC region.
Companies Cited in the Report
List of Companies Companies Covered in the Report
3D Systems Corporation
Stratasys Ltd.
SLM Solutions Group AG Major Players
Materialise NV
The Exone Company
Voxeljet AG
EnvisionTec
Arcam AB
HP Inc
Ricoh Company Ltd
Key Factors Considered in the Report
Comprehensive analysis of APAC 3D Printing Market and its segments.
Listed major players and their positioning in the market.
Identified major industry developments in last few years and assessed the future growth of the industry.
For More Information on the research report, refer to below link:
Related Blogs
https://www.kenresearch.com/blog/2020/02/apac-3d-printing-industry/
https://www.kenresearch.com/blog/2020/02/asia-pacific-3d-printing-market/
https://www.kenresearch.com/blog/2020/02/apac-3d-printing-market/
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