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3D Printing

3D Printing Spending In Asia Pacific To Reach US$3.6 Billion By 2021

Asia Pacific: In Asia Pacific excluding Japan (APEJ), spending on 3D printing (including hardware, material, software, and services) will reach US$3.6 billion by 2021 with a five-year compound annual growth rate (CAGR) of 22.4 percent, according to market intelligence company International Data Corporation.

3D printing related services (consulting services, systems integration services and on-demand part services) and material spending combined will deliver nearly 45 percent of the total spending in APEJ throughout the forecast period. Purchase of software will trail behind in the overall market with a CAGR of 26.9 percent.

“China is the force behind APEJ growth. The Chinese Government is in support of the industry and multiple 3D printing action plan and fiscal supports are seen in place. (Thus), it boosted the 3D printing uses and spending in the country with continuous interest and rising maturity,” said Mun Chun Lim, market analyst, imaging, printing and document solutions research, International Data Corporation, Asia Pacific.

Discrete manufacturing is the dominant industry in APEJ with spending predicted to be nearly US$1.1 billion in 2018. This industry is expected to remain the largest spending in the region throughout the forecast period, reaching US$1.7 billion in 2021.

Leading use cases for 3D printing in discrete manufacturing include prototypes, moulds and aftermarket parts. These three use cases will account for 68 percent of total spending across the discrete manufacturing industry in 2018.

“As we are gearing towards Industry 4.0 era, 3D printing is poised to transform the manufacturing process and how things are made. The advent of 3D printing opens up endless possibilities and unleashing disruptive power in global supply chain. With on-going development, we will see penetration of 3D printing in other industries, with more innovative use cases developed,” added Mr Lim.

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