Middle East 3D Printing Market — Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019–2025
Middle East 3D Printing Market has witnessed notable growth and is poised to spiral to new heights in years to come. Most countries such as UAE, Qatar and Saudi Arabia are willing to seize the opportunities that are inbuilt in 3D printing and hence are gaining leading edge in the technological advancements. Moreover, the region portrays immense potential to radically transform the way medical devices are utilized to treat the patients. The technique has emerged as one of the cost efficient option for medical device industry and therefore has impacted the health care segment positively. Surging demand for patient specific products in orthopedics and maxillofacial surgery coupled with consistent advancements in innovative technologies have exponentially driven the performance of Middle East 3D printing market. Moreover, increasing production of customized products, lower costs and government investments have accelerated 3D printing market of Middle East region.
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Middle East and Africa 3D printing has grown remarkably mainly accredited to booming acceptance of 3D technique in various industry verticals, rising regulatory support by government bodies and continuous disruption of manufacturing sector. The market was valued at US XX million in 2017 and is predicted to reach US 2,033.7 Million by 2024. The technology has dynamically proliferated across multiple manufacturing industries which can be witnessed among automotive, aerospace and healthcare industries coupled with electronics manufacturers and other medical suppliers. Furthermore, innovative technology has allowed the manufacturers to enhance their local production. However, high cost involved in 3D printing in terms of 3D printers and absence of resource pool in 3D printing and lack of technological understanding in 3D printing pose as some of the restricting factors hampering the potential of Middle East Africa 3D printing market.
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Insights Presented in the Report:
· The report analyses 3D Printing market report majorly based on component, technology, applications and end users. Products, materials and services are the major components considered in the deep analysis of the 3D printing industry.
· Product segment is further classified into professional printers and desktop printers. Product segment is expected to register fastest growth, owing to increasing demand for desktop 3D printers over the period of time although industrial printers is projected to continue to display its dominance till 2024.
· Middle East Africa 3D printing material market is further divided into different material types including polymer, plastic, metal and alloys, ceramics and others materials. In 2017, polymer segment dominated the Middle East Africa 3D printing material market as they represent greatest penetration and user accessibility in 3D printing.
· Stereolithography, Selective Laser Sintering, Electron Beam Melting, Fused deposition modeling, Laminated object Manufacturing and Others are the major technologies considered while analyzing the regional 3D printing market. Fused Deposition Modelling, Selective Laser Sintering and Stereolithography constitute as the topmost technologies in 3D printing. Fused Deposition Modelling occupied the prominent share in 2017 as it is one of the prominent and user friendly technology that is widely used to create 3D printed objects.
· Based on application type, Middle East Africa 3D printing market is bifurcated into functional parts, fit and assembly, prototype modelling, education, metal casting, Visual Aids, Presentation Modelling and other applications. Functional parts captured maximum share during 2017 owing to its fast speed, quality and low cost of additive manufacturing.
· Furthermore, 3D printing techniques find its major application in verticals such as education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction and others. Manufacturing sector dominated 3D printing landscape during 2017 owing to bolstering digitalization wherein 3D printing solutions have paved way for manufacturing companies.
· For better understanding of the geographical penetration of 3D printing market in Middle East Africa, the market is analyzed based on its outreach in the countries such as UAE, Qatar, Saudi Arabia, Kuwait, Egypt, Algeria and rest of Middle East Africa. Saudi Arabia and Qatar constitute as the most leading and active countries in operating 3D technology wherein they undertake several research and development initiatives to revolutionize the advanced technologies applications. In addition, with the growing manufacturing sector in UAE and being the wider region, it also captures the major chunk of 3D printing market in Middle East region. 3D printing has become one of disruptive technology that is expected to have significant impact on the region’s industry owing to greatest growth prospects showcased particularly in aerospace, dental and construction sector of the country.
· Key companies profiled in the report include 3D Systems Corporation, Arcam AB, Royal DSM N.V., Stratasys Ltd., Autodesk, Inc., The ExOne Company, Hoganas AB, Organovo Holdings, Inc, Mcor Technologies Limited and Voxeljet AG.
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