Knowledge Sourcing Intelligence announces the publication of a new report on “3D Printing Market - Forecasts from 2020 to 2025” to their offering.
The ubiquitous cognizance of streamlining capabilities across industries, growth of automotive, consumer electronics, healthcare, and continuous R&D advancing 3D printing technology applications, are collectively driving the growth of this market.
According to the report, the 3D Printing Market is expected to reach US$39.640 billion by 2024, from US$9.190 billion in 2018.
The growth of the 3D printing market is dependent on several factors as mentioned below
Before delving into the applications of the 3D printing technologies it best in the interest of all stakeholders that we fathom the what exactly is the hype about 3D printing that has left the confines research land as well as that of board room meetings and has reached ley consumers living room space in today's’ world. It is a manufacturing process that is also monikered as additive manufacturing and encompasses the manufacturing of objects which are 3 dimensions in nature based on digital model (file). The achiever of the desired result is obtained through the functioning of the 3D printer in continuous layers that require computer-aided designs that performs as the blueprint for the 3D printer. The technology has made such advancements that erstwhile seeming far-fetched ideas like the printing of human organs that were only limited science fiction plots have now materialized into realistic and economically feasible options as exemplified by personal care, healthcare firms who are adopting more humane alternatives such as bio-printed human skin for conducting a variety of test. This was also part possible due to the regulatory regimes such as the EU’s decision to ban animal testing for cosmetics in 2013. Not restricted to biotechnology’s core application such as healthcare and personal care, 3D printing technologies have also been developed and have been satisfactorily put to use in the food and beverage segment feeding the demand for plant-based alternatives which in turns is acting as the driver for the 3D printing market growth in the coming years.
Updates on 3D printing market developments
Sector: F&B – Product launch– June: The fact that adoption of 3D printing technology has gone beyond the confines of core industrial applications has just been underscored by the recent unveiling of Redefine Meat’s trade-marked Alt-Steak which is plant-based steak derived from applying 3D printing technology and developed in close collaboration with ‘leading’ butchers, chefs and food technologists as well as with flavors expert Givaudan – to digitally map more than 70 sensorial parameters into its Alt Steak product delivering the fat distribution and mouthfeel of ‘premium beef cuts’. Founded in 2018, Redefine Meat is an Israeli start-up that has developed a proprietary 3D printing technology that is still pending patent to apply the same along with meat digital modeling, and food formulations of advanced nature to produce meat that is free of animal content simultaneously resembling the appearance, flavor, texture of real meat.
Sector: Biotechnology/Healthcare – Joint Development Agreement – January: The signing of a joint development agreement between CollPlant Biotechnologies (NASDAQ: CLGN) and 3D Systems (NYSE: DDD) was reportedly announced. Under the purview of the agreement pivotal endeavors towards the fruition of acceleration, the advancement of unprecedented breakthroughs in the biomedical industry which is inclusive of but not limited to the plans of jointly developing scaffold bioprinting processes and developing tissues for third part collaborators. CollPlant Biotechnologies Ltd. is an aesthetic and regenerative medicine company that is known for developing innovative products and technologies to aid the manufacturing of organs and regeneration of tissues. Leveraging on their expertise on mass production of their proprietary rhCollagen recombinant human Type I collagen they are poised to develop of range of products that will be derived through the means of 3D bioprinting and 3D Systems is renowned for its healthcare expertise and 3D printing technologies.
Sector: F&B – Partnership – February: It was reportedly announced that Israeli hamburger restaurant group called Burgus Burger Bar and Israeli start-up SavorEat have entered into a partnership, whereby the latter will be enabled to complete its digital chef” system and later be put a beta pilot at approximately hundreds of Burgerim, Mozes and BBB restraint of the food and beverage chain within two years. The 3D platform developed by SavorEat can perform culinary functions such as baking, frying, or grilling plant-based burgers that are bespoke ordered by using ingredient cartridges. Submicron crystalline cellulose that is shelf-stable, egg whites, gelatin or gluten, the utilization of self-assembling binder in lieu of starch and a derivative of plant finer that has 0 calories, constitutes the key ingredients.
As a part of the report, the major players operating in the 3D printing market have been covered.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/3d-printing-market
This report segmented the 3D printing market on the basis following terms