3D Printing Market Future Outlook: Investment Trends, Growth and Future Market Analysis by Regions – Semiconductor & Electronics Industry Insights
The global 3D printing (3DP) market was valued $6,975.1 million in 2016 and is expected to reach $31,863.7 million by 2023, growing at a CAGR of 24.4% during the forecast period. 3D printing refers to additive manufacturing, which follows the process of adding materials in consecutive pattern to build the desired shape. However, traditional manufacturing techniques follow subtractive manufacturing, and create a huge amount of waste as the cut off material cannot be reused. 3D printing eliminates such waste since the only required material is placed in the location and the rest is left out as empty space. Metals, polymers and ceramics are the different materials used in 3D printing. 3D printing finds application in various industries, such as aerospace & defense, healthcare, automotive, gems & jewelry, architecture & construction, and energy.
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