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Kenneth Research, in its repository of market research reports, have recently added a report on U.S. 3D Printing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The U.S. 3D Printing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for U.S. 3D Printing Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
3D Printing also known as additive manufacturing is the process of transforming digital files information to the physical objects. 3D printing refers to processes in which material is joined or solidified under computer control to create a three-dimensional object, with material being added together such as liquid molecules or powder grains being fused together. In addition, 3D printing referred to a process that deposits a binder material onto a powder bed with inkjet printer heads layer by layer. Further, 3D printing is used in both rapid prototyping and additive manufacturing.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Market Size and Forecast
The U.S. 3D printing market is anticipated to flourish at a significant CAGR over the forecast period 2017-2024. Further, 36% of people find 3D printing more appealing to print products at home instead buying them from store. This factor is expected to robust the overall market of 3D Printing in U.S. over the forecast period.
U.S. is anticipated to account for a significant portion of market share in the overall market of 3D printing during the forecast period. Factors such as, increasing advancement in technology and implementation of 3D technology are anticipated to fuel the growth of the 3D printing market over the forecast period. Further, the industry's profitability is on rise; credited to increasing demand and industry's exponential revenue growth over the forecast period is expected to grow the U.S. 3D printing market.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
In addition, by 2016 industry's exports are expected to rise with an annualized rate of 18.6% whereas the import is expected to expand at an annualized rate of 8.5%. Further, the difference between the import and export growth rate portrays a strong picture of the U.S. as the major country over the forecast period.
Based on material, U.S. 3D printing market is segmented into, metals, plastic/polymer and ceramics, out of which, materials and plastic in various forms (like polymers) is the most used raw material due to its flexibility & adaptability are expected to dominate the overall U.S. 3D printing market during the forecast period.
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Market Segmentation
Our in-depth analysis has segmented U.S. 3D printing market into the following segments:
By Product Type
Printer
3D Scanner
Multi-Color 3D Printer
Bid Industrial 3D Printer
Single Extruder 3D Printer
Dual Extruder 3D Printer
By Material
Metals
Plastic/Polymer
Ceramics
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
By Services
3D Scanning
Designing
Prototype Development
Selling Customized End-User Products
3D Printing material market size
The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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