MarketResearchNest.com
adds “MENA Market Insights on 3D Printing:
Insights & Forecasts, 2018-2024: Emphasis on Component ((Product
(Professional/Industrial Printer, Personal/Desktop 3D Printers), Material
(Polymer, Plastic, Metals and Alloys, Ceramic, Other Materials), Technology (
Stereolithography, Selective Laser Sintering, Electron Beam Melting, Fused
Deposition Modelling, Laminated object Manufacturing, Other Technologies)”new
report to its research database.
The Middle East and North Africa 3D printing market is
segmented based on component, sub-component, applications, and technology and
industrial verticals. Product (industrial and desktop printer), material
(polymer, plastics, metal and alloy, ceramic and other) and services are the
types of components considered while analysing and defining the penetration of
3D printing technology in different geographies and countries. In 2017, product
segment dominated the Middle East and North Africa 3D printing market with
maximum share in terms of revenue. Based on estimation, the segment occupied
for around 36.8% share in the same year. However, increasing demand for desktop
printers would help the product segment to grow at a faster rate of 30.4%
during the forecast period (2018-2024).
Middle East and North Africa has displayed notable growth in
3D domain and is poised to spiral to new heights in years to come. Although 3D
printing in Middle East and North Africa region is at nascent stage, countries
as well as the companies of the region are in a pace to seize the opportunities
arising from technological breakthroughs and which is witnessed among various
industry verticals such as construction, healthcare and aerospace anddefense.
Apart from this, innovative and potentially transformative 3D printing
deployments among medical suppliers, electronic manufacturers, and tools and
components manufacturers also showcase rising acceptance.
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3D printing offers integration of metals and alloys with
other raw materials as per the requirement of the end-user industry, to create
specified 3-dimensional objects. During 2017, polymer held prominent share of
33.5% followed by plastic which held 30.6% during the same year. Polymer market
in MENA 3D printing was valued at US$ 31 Million in 2017 and is projected to
derive US$ 191.1 Million revenues by 2024 witnessing astonishing CAGR of 29.9%
during the forecasted period. Numerous industrial sectors are influenced by 3D
printing solutions. In addition, Custom Design and Manufacturing held more than
50% share and garnered US$ 38.9 Million revenues during 2017. Based on
technology, the Middle East and North Africa market is segmented into stereo
lithography, selective laser sintering, electron beam melting, fused deposition
modeling, laminated object manufacturing and others. In 2017, Fused Deposition
Modelling technology dominated the regional 3D printing market, and is expected
to maintain its dominance throughout the analyzed period. It is projected to
reach US$ 650.6 Million by 2024 showcasing significant CAGR of 28.4% during the
analyzed period. Furthermore, depending on application type, the market is
further classified into Functional Parts, Fit and Assembly, Prototype
Modelling, Education, Metal Casting, Metal Casting, Visual Aids and Presentation
Modelling. During 2017, functional parts occupied the largest share of 33.8%
followed by Fit and assembly application type in regional 3D printing market.
Moreover, benefits of 3D printing can also be witnessed
among various industry verticals such as Education, automotive, aerospace and
defense, healthcare, consumer goods, manufacturing, construction and others
where the additive manufacturing has turned out to be a game changer.
Automakers and raw material suppliers for manufacturing sector have realized
the benefits of 3D printing solutions, eventually increasing the demand for 3D
printing solutions in these industries. In the automotive industry, the use of
3D printing technology has been successful in bring about new shapes to the
industry, allowing the industry to produce lighter and more complex structures
at affordable price ranges. Manufacturing sector was accounted as the fastest
growing industry vertical in terms of its applications in 3D printing. Based on
estimation, the respective segment is projected to generate revenue of US$
396.6 Million in by 2024 displaying tremendous CAGR of 28.5% during the
forecasted period in MENA 3D printing market.
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3D printing has offered immense growth potential to the
entire MENA region. The technology has portrayed its dynamism across various
industrial sectors at a very high pace ranging from healthcare, education,
construction to retail. In addition, lenient investment regulations by
government bodies in developing countries such as MENA has allowed the
companies to invest in the country's 3D printing space. 3D printing has
successfully transformed the world of business. It purposes to touch every
industry and bring explosive transition in the same. 3D printing has offered numerous
benefits to small scale and large scale manufacturing industry to drive more
revenue in Middle East and North Africa region. However, high cost involved in
3D printing, lack of awareness and limited skills sets in the region encompass
some of the obstacles that hinder the growth of 3D printing in Middle East
Region. Furthermore, technological advancements in healthcare industry
specifically the way medical devices are utilized to treat the patients and
faster supply chain and reduced lead times form as an integrated services that
have resulted into measurable impact thus aiding the manufacturers in
developing precise 3D solution.
Also, for better understanding of 3D printing market
penetration, the market is analyzed in different geographies and countries
comprising of Middle East and North Africa (UAE, Saudi Arabia, Qatar, Kuwait,
Egypt, Algeria and rest of MENA. Based on estimation, Middle East and North
Africa accounted for revenue share of 6.6% in 2017. Ever expanding
manufacturing domain, supportive government policies in regard to 3D printing
coupled with increasing Research and Development in advanced technology has
exorbitantly proliferated the 3D printing market in the region. Spending on 3D
printing in MENA region is also set to increase from US$ 0.47 Billion in 2015
to US$ 1.3 Billion by 2018 registering astonishing CAGR of approximately 31%
over 2015-2018 period outperforming the worldwide growth rate of around 27%.
Countries such as Saudi Arabia and UAE are actively operating in 3D technology
wherein several initiatives from research and development aspect have been
undertaken to revolutionize the advanced technology applications in the region.
United Arab Emirates led the Middle East and North Africa region and
contributed around US$ 66.3 Million in 2017 towards regional 3D printing sales
and is further projected to garner US$ 386.4 Million by 2024 registering
substantial CAGR of 28.8% over the period.
Considering the presence of 3D printing players in Middle
East and North Africa region, 3D Systems Corporation, Arcam AB, Royal DSM N.V.,
ExOne Company, Autodesk, Inc., Stratasys Ltd., Organovo Holdings, Inc , Hoganas
AB, Mcor Technologies Limited and Voxeljet AG, constitute as some of the
prominent players operating in 3D space. The players consistently aim to focus
on product development, launch new products and enhance their existing
portfolios to expand their customer base and strengthen their market position
through partnerships and collaborations which further offers them growth
opportunities for geographic expansion.
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