Digital Printing Market to See 22.4% Annual Growth Through 2023
Industry Boosted by Expiration of Patents
WELLESLEY, Mass., August 2, 2019 (Newswire.com) - The expiration of fused deposition modeling (FDM) patents and rapid industrialization are two factors driving growth in the global digital printing market, according to a report by BCC Research, “Top Ten 3D Printing Companies.”
The market expects to see a compound annual growth rate (CAGR) of 22.4% through 2023, when it could be worth $22.9 billion.
Major players in the market include: GE Additive, 3D Systems, Inc., Desktop Metal, Inc. and ExOne.
- The global market for 3D printers by technology was valued at $3.8 billion in 2017 and is expected to reach $12.2 billion in 2023, growing 21.8% annually.
- Jetting technology was valued at $436.6 million in 2017 and is expected to reach $1.5 billion in 2023 at a CAGR of 22.6%.
- Material extrusion is the most commonly used process in the 3D printing industry and is expected to hold the highest market share through 2023.
Read the full report here: https://www.bccresearch.com/market-research/instrumentation-and-sensors/top-10-3d-printing-companies.html
“The 3D printing industry comprises more than 100 global companies,” write BCC analysts.” The industry is highly concentrated, with top companies holding approximately 30% of the total market. Large companies have the advantage of economies of scale in purchasing, manufacturing, distribution and marketing. Smaller companies compete by offering specialized products and providing exceptional customer service to the localized market.”
The Success of Photopolymers
With the growing advancements in 3D printing technology, new photopolymer materials are used which mimic engineering photopolymers. This has been one of the most widely-used methods in 3D printing in recent times. Objects are created with incredible detail, and the layers are inseparable and less than hundreds of microns thick.
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Source: BCC Research