MENA Manufacturing 3D Printing Market to Reach Market Valuation of $268.57 Million by 2025
MENA Manufacturing 3D Printing Market is anticipated to reach the market valuation of $268.57 million by 2025 expanding at a reasonable CAGR of 13% in the course of the forecasted period (2019-2025) from $100.1 million in 2018. 3D printing, also referred to as additive manufacturing, is a combination of processes used to produce three-dimensional objects from 3D models or other electronic data sources. In the case of 3D printing, numerous layers of different kinds of printing materials are formed under machine control to create a 3-dimensional object.
The 3-dimensional images can be of varied shapes or geometries and can be created with computer-aided design packages or 3D scanners. 3D printing as an end-use manufacturing technology is still at an infancy stage but in the years to come, with the combination of various innovative technologies, it displays the tremendous potential to radically transform many designs, production, and logistics processes. Although 3D printing showcases an upward trend and is beyond expectations, it will require much more time to reach mass adoption level, hence signaling that mainstream adoption is expected to take off.
The benefits of 3D printing technology can be witnessed among various industrial verticals wherein the adoption of additive technology has been the game-changer impacting the manufacturing industry in a big way. It is influencing every single step of the supply chain and is assisting in the creation of fully customized retail products. 3D printing can play an active role in the made to measure the concept of the retail industry.
In 2018, the product segment dominated the MENA Manufacturing 3D printing market and is estimated to derive a revenue of $90.24 million by 2025. Under the technology segment, fused deposition modeling is projected to witness the rapid expansion throughout the forecast period, credited to its user-friendly characteristics and growing awareness among the consumers. Moreover, 3D printing applications as direct manufacturing technologies have further brought wider disruption.
Among applications, functional parts production is gaining prominence in the MENA Manufacturing 3D printing consumer goods landscape. Dramatic uptake in investments with respect to product and development in 3D solutions, regulatory support, and growing manufacturing sector has considerably influenced the growth prospects of 3D printing technology regionally. The technology is predominantly used to produce prototypes, which further enables the companies to transform and create 3D solutions, in a cost-effective manner.
But with the booming digitalization, 3D printing has now made significant inroads into the manufacturing floor and production process. 3D printing has given rise to Manufacturing as a Service (MaaS). MaaS is the combination of Printer as a Service, Software as a Service, and Material as a Service. 3D printing is projected to revolutionize the MENA industrial manufacturing within the next 5 to 10 years. Hence, the vertical contributed prominently towards 3D printing sales of the region.
Given the continuous relevance of 3D printing, modern industrial 3D printers can produce precise and high-quality products of different sizes at a fast pace and at relatively low costs. Several larger manufacturers have recognized the potential of this technology and are screening business areas to apply 3D printers. Meanwhile, small and medium-sized firms have also started seeing 3D printing technology as a suitable and economical option to enter new markets with low volume and complex products.
Unique variations of 3D printing technology are bifurcated extensively into components, technologies, applications and end-user industries. Determined by component type, the product market is bifurcated into industrial and personal 3D Printers. The industrial 3D printer segment has fetched revenues of $30.24 million in 2018. While among polymer, plastics, metal and alloys, and ceramics polymers are anticipated to witness rapid adoption while ceramic material is predicted to witness the highest CAGR growth of 15% throughout the forecast period.
Moreover, custom design & manufacturing dominated the service segment of the 3D printing market in 2018. Additionally, based on technology type, 3D printing is segmented into fused deposition modeling, selective laser sintering, stereolithography, electron beam melting, and laminated object manufacturing technologies. In 2018, fused deposition modeling centered the market with a maximum share of 31.6%.
Among various 3D applications such as functional parts, fit and assembly, prototype modeling, education, metal casting, visual aids, and presentation modeling, functional parts captured the majority share of the market in 2018. Furthermore, food & beverage dominated the industry vertical segments of the Manufacturing MENA 3D printing technology market in 2018, the segment is expected to generate revenue of $64.09 million by 2025.
Additionally, for better investigation and penetration of 3D printing solutions, the report provides a detailed country-level analysis of the MENA manufacturing 3D printing technology for countries including UAE, Qatar, Saudi Arabia, Kuwait, Egypt, Algeria and Rest of MENA. In 2018, UAE dominated the Manufacturing MENA 3D printing technology market with a market share of 18.4%. The growing manufacturing sector in UAE, being a wide region, captures the maximum proportion of the 3D printing market in the MENA region.
3D printing has become one of the disruptive technologies that are expected to have a significant impact on the region’s industry. The country has been successful in recognizing the potential of the 3D printing market, in every industry application inclusive of consumer goods landscape.
Some of the major companies profiled in MENA manufacturing 3D Printing market are 3D Systems Corporation, 3D Systems Corporation, Arcam EBM, The ExOne Company, Envision TEC, MCor Technologies, Royal DSM, Materialise NV, Stratasys, Voxeljet, 3D Systems Corporation. These players consistently aim to focus on various product launches, innovations, energy-efficient products as well as mergers and acquisitions to enhance the adoption rate of 3D printing techniques in the MENA region thereby strengthening their market position which further offers them growth opportunities to expand in the MENA region.