The 3D printing industry is forecast to grow from $5.8bn in 2015 to more than $50bn in the next ten years according to new Smithers Pira report ‘The Future of 3D Printing Materials for Industrial Applications to 2026’.
“The singular overriding trend that will drive 3D printing to rapidly grow and replace traditional manufacturing is the reduction in 3D printing costs,” said Howard Blum, author of the report.
The five largest market application sectors for 3D printing are aerospace, automotive, medical, consumer products and prototyping. These markets were early adopters of 3D printing and today account for more than 50% of the 3D printing industry value. These markets are also very much in sync with the key trends driving increasing 3D printing and raw material demand.